Place/Date: New York, New York - April 26th, 2021 at 1:30 pm UTC · 3 min read
Source: Bender Labs
Bender Labs, a technology company building open decentralized finance (DeFi) infrastructure, compliant with the standards of traditional capital markets, announced today the release of Wrap Protocol (WRAP). WRAP is the first bridge protocol from Bender Labs; it marks a milestone in the development of an interoperable, open financial system.
WRAP is a decentralized bridge for transferring ERC-20 and ERC-721 tokens from the Ethereum blockchain into FA2 tokens to the Tezos blockchain. Using WRAP, users issue wTokens (wrapped tokens) which are representations of ERC-20 and ERC-721 tokens on the Tezos blockchain. wTokens, with their value pegged to the original tokens, can then be seamlessly used on through the Tezos ecosystem. At the center of WRAP is the $WRAP token, which is both an ERC20 and an FA2 token. Learn more about the WRAP Protocol and $WRAP token in the white paper and here.