Wrapped
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Wrapping (Minting)

Wrapping

Wrapping is done by sending an asset to the custodian's deposit address and by submitting a wrapping request.

Sending an asset

Custodians take fees over the wrapping operation. The exact fee percentage is determined by an off-chain agreement with the custodian.
The amount of an asset that is expected to be wrapped after sending X to the custodian deposit address is
1
(X * (100 - fee))/100
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Where fee is percent unit. E.g., 0.2% is denoted by fee = 0.2.
The user should send X that corresponds to the amount of the asset that will be wrapped.

Submitting a wrap request

After sending an asset to the custodian deposit address the user can submit an on-chain wrapping request.

Wrap completion

The mint is completed after the custodian approves the request, and the wrapped asset tokens are sent to the user's address on the respective chain.