Wrapped coins are great, if there's demand for it. Steem and HIVE both launched wrapped versions but no one used them or needed them.
RE: wLEO is off to a tremendous start on Uniswap!
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wLEO is off to a tremendous start on Uniswap!
I got contacted even before I wrote the wrapped coin... Basically they wanted to license the bridge code for their own project ;)
Yea but I mean market place demand... is there any volume?
I'm not going to list it on regular exchanges... It will be coupled with other bridges so people can swap wrapped tokens between smart contacts...
Basically each cryptocurrency has wallet address on own chain and the smart contract platform... destination address is transcoded in the transaction and contract metadata.
Currently we are using both Bitcoin-compatible base58 transcoder and 6-bit transcoder that has two bits for upper and lower case letters, basically extended hexadecimal already used in Ethereum checked addresses. Using proprietary 6-bit encoding requires less code and time than full base22 transcoder (0-9, a-f. A-F).
I see. Why not list on regular exchanges?
Because a lot of exchanges have really strict listing requirements... I have sent quite many listing requests and after almost a year, my currency is still listed on one exchange...
If we bridge enough cryptocurrencies, we increase exponentially the chance that one of the currencies is listed on active enough exchange.
Very good point. That is pretty much what LEO/wLEO is doing.