Wrapped TONPrice

(WTON)

Wrapped TON (WTON) is a tokenized version of the native TON coin. It is designed to facilitate interoperability between the native TON blockchain and other networks such as Ethereum and BNB Smart Chain. While native TON is used for network fees and staking, WTON acts as a 1:1 pegged representation that adheres to specific token standards like Jetton (on TON) or ERC-20 (on Ethereum). This allows the asset to be utilized in decentralized finance (DeFi) applications that require a standardized format for smart contract interactions.

In terms of market value, they are identical as they are pegged 1:1. However, they serve different technical purposes. Native TON is the lifeblood of the TON blockchain, used for gas fees and network security. WTON is a wrapped version created to enable the coin's value to move across different protocols and blockchains. For instance, if you want to trade on a decentralized exchange or participate in cross-chain activities, you would use the wrapped version while maintaining exposure to the underlying value of Toncoin.

The primary reason is utility. Native TON cannot directly participate in many decentralized exchanges or yield farming protocols because these systems often require tokens to follow specific standards. By converting TON to WTON, users can access liquidity pools, lending platforms, and other DeFi services. Additionally, WTON enables cross-chain mobility, allowing users to move their assets to networks like Ethereum to interact with a broader range of financial tools and platforms while holding an asset backed by the native TON blockchain.

To wrap native TON, users typically utilize a decentralized gateway or bridge protocol. This process involves sending native TON to a smart contract that 'locks' the coins and 'mints' an equivalent amount of WTON. To move assets to other chains like Ethereum or BNB Smart Chain, you use a cross-chain bridge. The bridge secures the assets on the source chain and issues a wrapped version on the destination chain. For a more direct experience, users can also trade or acquire different versions of the token on exchanges like LBank.

Support depends on the network where the WTON is held. For Jetton-based WTON on the TON blockchain, native TON wallets and integrated Telegram wallets are standard. For ERC-20 or BEP-20 versions of WTON, any major EVM-compatible wallet or secure hardware wallet can be used. For trading, WTON is available on various decentralized exchanges across multiple chains. Users looking for a centralized solution can also find support for Toncoin-related assets on major trading platforms such as LBank, which offer secure environments for asset management.

It is vital to verify the contract address of the token before making any transactions. A common point of confusion is the 'WTON' ticker used by an unrelated project called Tokamak Network. To avoid mistakes, always cross-reference the contract address on official blockchain explorers. Within the TON ecosystem, the community is adopting the TEP-102 standard to unify various versions of Wrapped TON into a single, compatible format. Always use reputable services and exchanges like LBank to ensure you are trading the authentic asset associated with The Open Network.