Wrapped TRON (WTRX) is a derivative of TRON. It is widely used in many decentralized finance (DeFi) applications for various use cases, such as providing liquidity, token swaps, margin trading, and more.

WTRX is a wrapped token that represents TRON (TRX) on the Ethereum network. Wrapped tokens are tokens pegged to another asset at a 1:1 ratio. They allow users to access different blockchains and ecosystems without converting their original tokens. For example, if you want to use TRX on Ethereum-based DeFi platforms, you can wrap your TRX into WTRX and use it as an ERC-20 token. This way, you can enjoy the benefits of both networks without losing exposure to your original asset.

Tron's vision is to bridge the gap between TRON and Ethereum, enabling more liquidity, interoperability, and innovation in the DeFi space. WTRX aims to provide users with a seamless and secure way to access various DeFi protocols and services across different blockchains.

The company's roadmap includes expanding its support for more blockchains and platforms, such as BNB Chain, Polygon, Solana, and others. It also plans to launch more products and features, such as lending, borrowing, yield farming, governance, and more.

To wrap TRX into WTRX, users need to deposit their TRX into a smart contract acting as a custodian. The smart contract then mints an equivalent amount of WTRX on the Ethereum network and sends it to the user's wallet. To unwrap WTRX back into TRX, users need to burn their WTRX tokens on the Ethereum network and receive their TRX tokens back from the smart contract on the TRON network.

Some advantages of using wrapped tokens include accessing different blockchains without dealing with multiple wallets or exchanges, reducing transaction fees or waiting times by using faster or cheaper networks, enhancing portfolio diversification by exploring new opportunities or markets, and increasing liquidity by unlocking more trading pairs or pools.

Some disadvantages of using wrapped tokens include relying on third-party custodians or intermediaries who may be vulnerable to hacks or frauds, losing some functionality or features native to the original network, and facing regulatory uncertainty or compliance issues due to cross-border transactions.

Learn more about Tron in our deep dive.

Check out Tron — the decentralized blockchain-based operating system developed by the Tron Foundation and launched in 2017.

Check out Wrapped Bitcoin (WBTC) — the wrapped version of Bitcoin on Ethereum.

Find out more about Wrapped ETH and how it works on BYDFi Alexandria.

WTRX is pegged to the price of TRX, ensuring that one WTRX is always worth one TRX. This eliminates arbitrage or price discrepancies between the two tokens. It enables TRX holders to participate in DeFi functionality such as lending, borrowing, staking, swapping, and yield farming.

WTRX also allows TRX holders to enjoy the benefits of other blockchains, such as faster transactions, lower fees, higher scalability, and increased interoperability. This enhances the user experience and expands possibilities for innovation and collaboration.

If you want to buy WTRX at the current rate, you can trade WTRX on Sunswap V2.

Wrapped TRON (WTRX) is a derivative of TRON. It is widely used in various decentralized finance (DeFi) applications for liquidity provision, token swaps, margin trading, and other use cases.

WTRX is a wrapped token that represents TRON (TRX) on the Ethereum network. Wrapped tokens are tokens pegged to another asset at a 1:1 ratio. They enable users to access different blockchains and ecosystems without the need to convert their original tokens. For instance, by wrapping TRX into WTRX, users can utilize it as an ERC-20 token on Ethereum-based DeFi platforms while retaining exposure to their original TRX.

Tron's vision is to bridge the gap between TRON and Ethereum, fostering more liquidity, interoperability, and innovation in the DeFi space. WTRX aims to provide users with a seamless and secure way to access various DeFi protocols and services across different blockchains.

The company's roadmap includes expanding support for additional blockchains and platforms like BNB Chain, Polygon, Solana, and others. It also plans to launch more products and features, including lending, borrowing, yield farming, governance, and more.

To wrap TRX into WTRX, users deposit their TRX into a smart contract acting as a custodian. The smart contract then mints an equivalent amount of WTRX on the Ethereum network and sends it to the user's wallet. Unwrapping WTRX back into TRX involves burning WTRX tokens on the Ethereum network and receiving TRX tokens from the smart contract on the TRON network.

Advantages of using wrapped tokens include accessing different blockchains without managing multiple wallets or exchanges, reducing transaction fees or waiting times by utilizing faster or cheaper networks, diversifying portfolios by exploring new opportunities or markets, and increasing liquidity by unlocking additional trading pairs or pools.

Disadvantages of using wrapped tokens include reliance on third-party custodians or intermediaries vulnerable to hacks or fraud, potential loss of native network functionality or features, and regulatory uncertainty or compliance issues related to cross-border transactions.

WTRX is pegged to the price of TRX, ensuring a 1:1 value ratio. This eliminates arbitrage or price discrepancies between the two tokens and allows TRX holders to participate in DeFi functionalities such as lending, borrowing, staking, swapping, and yield farming.

Additionally, WTRX enables TRX holders to benefit from other blockchains, including faster transactions, lower fees, higher scalability, and increased interoperability. This enhances the user experience and opens up possibilities for innovation and collaboration.

If you wish to purchase WTRX at the current rate, you can trade WTRX on Sunswap V2.