Elrond Wrapped EGLD Token

Question

What is the meaning of Wrapped EGLD Token ?

Maiar Exchange gives an popup with this message Reclaim your EGLD and the value is equivalent with the Wrapped EGLD Token value and I don't know what that is.

Answer 1

There are 2 types of tokens on the Elrond blockchain:

• EGLD (the "coin")
• ESDT, similar to ERC20 (like MEX, WUSDC, wrapped EGLD, RIDE, AERO, SUPER, etc.)
  • See here details about Elrond Standard Digital Token

Because EGLD is not an ESDT token, if you want to:

• swap EGLD -> MEX, you will actually make EGLD -> wrapped EGLD -> MEX
• swap MEX -> EGLD, you will actually make MEX -> wrapped EGLD -> EGLD

In Maiar Exchange you can see this information under the Swap button:

and under Balances, you can see Tokens > Wrapped EGLD with an Unwrap button. That amount was gained because the prices were fluctuating. If you unwrap it, you'll get EGLD.

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For more details, check this:

https://github.com/ElrondNetwork/sc-bridge-elrond

Wrapped Tokens

... we're going to use ESDT to implement wrapped tokens, but how is the wrapping actually done? For that, we have the EgldEsdtSwap, a very simple SC, whose only purpose is to exchange 1:1 native eGLD to WrappedEgld ESDT tokens. You can also do the reverse operation at any time, which is known as unwrapping.

and this:

https://github.com/ElrondNetwork/sc-bridge-elrond/tree/main/egld-esdt-swap