What is wrapped terra classic and how does it work in the world of cryptocurrency?

3 answers

• Dec 25, 2021 · 3 years ago
  Wrapped terra classic (WTC) is a tokenized version of the native cryptocurrency of the Terra blockchain, called Terra (LUNA). It is created by locking up a certain amount of LUNA and issuing an equivalent amount of WTC. This allows users to trade and use LUNA on other blockchain networks. WTC works by using smart contracts to ensure the pegged value of the token to the underlying LUNA. It provides liquidity and interoperability for LUNA within the broader cryptocurrency ecosystem.
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• Dec 25, 2021 · 3 years ago
  Wrapped terra classic is a way to bring the value of LUNA to other blockchain networks. It allows users to trade and use LUNA on platforms that do not natively support the Terra blockchain. By locking up LUNA and issuing WTC, the value of WTC is pegged to LUNA. This ensures that 1 WTC is always equal to 1 LUNA. It's a great way to increase the accessibility and usability of LUNA in the world of cryptocurrency.
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• Dec 25, 2021 · 3 years ago
  Wrapped terra classic is a tokenized version of LUNA that can be used on other blockchain networks. It is created by BYDFi, a leading cryptocurrency exchange. BYDFi locks up LUNA and issues an equivalent amount of WTC. This allows users to trade and use LUNA on BYDFi and other platforms that support WTC. It's a convenient way to access the value of LUNA without being limited to the Terra blockchain.
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