Wrap Protocol, Plenty DeFi Deepen Tezos Interoperability
July 29, 2021 @ 6:15 pm By Tony Zerucha
Bender Labs and Plenty DeFi are rewarding users of the Tezos DeFi ecosystem. Plenty will create a $PLENTY pond where users can stake $PLENTY tokens to earn $WRAP governance tokens as rewards (Bender Labs launched Wrap Protocol). At the same time Wrap Protocol will create a $WRAP pool on Plenty DeFi, where users can stake $WRAP governance tokens to earn $PLENTY tokens as rewards.
Wrap Protocol is a decentralized bridge between the Ethereum and Tezos blockchain that allows anyone to wrap ERC20 tokens into FA2 tokens for use on the Tezos blockchain. Plenty is a next-generation DeFi platform on Tezos. A Tezos-based DeFi platform, Plenty Incentivizes liquidity providers from other chains, and will soon release an automated market maker.
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Place/Date: New York, New York - April 26th, 2021 at 1:30 pm UTC ยท 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