Wrapped TRON price

WTRX

#2

To wrap TRX into WTRX, users need to deposit their TRX into a smart contract that acts 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 of the advantages of using wrapped tokens include: accessing different blockchains without having to deal 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; increasing liquidity by unlocking more trading pairs or pools.

Some of the 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 that are native to the original network; facing regulatory uncertainty or compliance issues due to cross-border transactions.

WTRX is pegged to the price of TRX, which means one WTRX is always worth one TRX. This ensures that there is no arbitrage or price discrepancy 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 more interoperability. This enhances the user experience and expands the possibilities for innovation and collaboration.

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 CoinMarketCap Alexandria.