Table of Contents
- Wrapped BTC - Symbol : xBTC
- This token is a Wrapped BTC, it derives its pricing from a composite global pricing of Bitcoin in USD in real time. It represents the actual digital asset and all transactions occur on-chain on Pecu Novus. They are primarily used for staking protocols and volume will typically be thin.
- What is a Wrapped Token?
- A wrapped token is a digital asset that represents another cryptocurrency on a different blockchain or a physical asset. For example, a wrapped Bitcoin (xBTC) is a token that represents one Bitcoin on the Pecu Novus blockchain. Wrapped tokens are created by locking up the underlying asset in a smart contract on the original blockchain and then issuing a corresponding number of tokens on the new blockchain.
- Wrapped tokens are useful because they allow users to interact with different blockchains and ecosystems. For example, xBTC allows users to trade Bitcoin on decentralized exchanges (DEXes) on the Pecu Novus blockchain such as HootDex, which would not be possible otherwise.
- Wrapped tokens are also useful for staking protocols. For example, users can lend their xBTC on a DeFi platform on the Pecu Novus blockchain to earn fee's or interest, or if available they can borrow xBTC to use in other DeFi applications on the Pecu Novus blockchain.
- Here are some of the benefits of using wrapped tokens:
- Interoperability: Wrapped tokens allow users to interact with different blockchains and ecosystems. This can be useful for trading, lending, borrowing, and other DeFi applications.
- Efficiency: Wrapped tokens can be more efficient to use than native tokens on some blockchains. For example, xBTC transactions are processed faster and cheaper than Bitcoin transactions on the Bitcoin blockchain.
- Security: Wrapped tokens are typically backed by the underlying asset in a smart contract. This makes them more secure than some other types of digital assets.
- VIEW ALL TOKENS
- LATEST CRYPTO & FINANCIAL NEWS
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Wrapped BTC – Symbol : xBTC #
This token is a Wrapped BTC, it derives its pricing from a composite global pricing of Bitcoin in USD in real time. It represents the actual digital asset and all transactions occur on-chain on Pecu Novus. They are primarily used for staking protocols and volume will typically be thin. #
What is a Wrapped Token? #
A wrapped token is a digital asset that represents another cryptocurrency on a different blockchain or a physical asset. For example, a wrapped Bitcoin (xBTC) is a token that represents one Bitcoin on the Pecu Novus blockchain. Wrapped tokens are created by locking up the underlying asset in a smart contract on the original blockchain and then issuing a corresponding number of tokens on the new blockchain. #
Wrapped tokens are useful because they allow users to interact with different blockchains and ecosystems. For example, xBTC allows users to trade Bitcoin on decentralized exchanges (DEXes) on the Pecu Novus blockchain such as HootDex, which would not be possible otherwise. #
Wrapped tokens are also useful for staking protocols. For example, users can lend their xBTC on a DeFi platform on the Pecu Novus blockchain to earn fee’s or interest, or if available they can borrow xBTC to use in other DeFi applications on the Pecu Novus blockchain. #
Here are some of the benefits of using wrapped tokens: #
-
Interoperability: Wrapped tokens allow users to interact with different blockchains and ecosystems. This can be useful for trading, lending, borrowing, and other DeFi applications. #
-
Efficiency: Wrapped tokens can be more efficient to use than native tokens on some blockchains. For example, xBTC transactions are processed faster and cheaper than Bitcoin transactions on the Bitcoin blockchain. #
-
Security: Wrapped tokens are typically backed by the underlying asset in a smart contract. This makes them more secure than some other types of digital assets. #
VIEW ALL TOKENS #
LATEST CRYPTO & FINANCIAL NEWS #
- Bitcoin ETFs snap six-day outflow streak with $240M inflows
- EU considers delaying AI Act rollout amid US and Big Tech pressure
- Stablecoins strengthen the dollar and empower the developing world
- New crypto group aims to make unified standards for blockchain transactions
- Ethereum flashes buy signs amid whispers of ‘massive bear trap’: Analysts
- Elixir sunsets deUSD stablecoin in reaction to Stream’s $93M loss
- Ethereum traders flip bullish as rest of market remains fearful
- Block shares tumble after-hours on Q3 earnings miss
- Crypto ETFs ‘punching above weight’ as almost half of ETF investers plan buys
- Bitcoin at $100K is ‘speed bump’ to $56K, but data signals no signs of panic
- Australia risks ‘missed opportunity’ by shirking tokenisation: ASIC boss
- XRP whales cap selling as wallet growth hits 8-month high
- Web3 gaming, DeFi lead sector activity in October despite market decline: Report
- JPMorgan says BTC looks cheap next to gold, points to $170K fair value
- Crypto bills are ‘like oil for the onchain economy,’ Coinbase exec says
- Cathie Wood drops BTC forecast by $300K, says stablecoins eroding market share
- Google Finance adds prediction markets data in new AI-powered update
- Circle weighs in on GENIUS Act implementation: ‘Simple, strong rules’
- Bitcoin bulls retreat as spot BTC ETF outflows deepen and macro fears grow
- Ray Dalio warns Fed is stimulating the economy into a bubble
