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 is1
(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.
Last modified 6mo ago
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