Wrapped tokens

Wrapped cryptocurrencies enable crypto assets to be used on blockchains to which they are not native. This interoperability hack has brought bitcoin (BTC) and other popular cryptocurrencies to smart contract platforms, including the Ethereum ecosystem. Wrapped cryptocurrencies increase the utility and liquidity of smart contract platforms and popular decentralized finance (DeFi) applications. Other reasons to wrap cryptocurrencies may include ERC-20 token swapping or taking advantage of blockchain functions that a crypto asset might not have on its native chain.

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