Through Wrap, users issue wTokens (wrapped tokens) which are representations of ERC20 and ERC721 tokens on the Tezos blockchain. wTokens can then be used on the Tezos blockchain, and their value is pegged to the original tokens. Wrap is a decentralized protocol, relying on a strong federation (the Signers Quorum) that guarantees the stability of the protocol, and a community of $WRAP governance token holders.
$WRAP is the governance token that allows the community of users of Wrap to interact and modify the protocol.
$WRAP token holders can vote on key parameters of the protocol and receive a share of wrapping and unwrapping fees.
Max supply: 100,000,000 $WRAPS
Allocation: 50% Quorum / 40% Users / 10% Dev Pool