Wrapped bTokens
What are Wrapped bTokens?
Wrapped bTokens (or wbTokens) are a permissioned version of bTokens. Only whitelisted wallets can access Wrapped bTokens.
Why are Wrapped bTokens useful?
Wrapped bTokens are a permissioned version of our standard bTokens. They limit the accessibility to a set of identified users. This means that wbTokens can be safely transferred or LPed on DEX pools because they will always end up in the hands of wallets that are allowed to own them.
How can I get access to Wrapped bTokens?
It is possible to get wbTokens via the Backed Wrapper Contract (at wrapped.backed.fi or the contract directly) - or via a direct transfer from a wbToken holder.
Alternatively, users can access them from liquidity pools on the main DEXs where every whitelisted user is allowed to get access to wrapped tokens.
On which chains are Wrapped bTokens available?
Initially Wrapped bTokens will be available only on Ethereum. We will soon roll it out also on the other chains on which Backed operates.
How do I wrap or unwrap?
A user can wrap and unwrap in two ways: via the UI or directly interacting with the contract.
UI
A user can go to wrapped.backed.fi and simply wrap or unwrap using the widget on the page.
UNWRAP (wbToken → bToken):
call withdrawTo(address receiver, uint256 amount) on the appropriate contract below:
| Token | Contract |
|---|---|
bIB01 |
|
bC3M |
|
WRAP (bToken → wbToken):
1. Approve spending of bToken by wrapped token contract (call approve(address spender, uint256 amount) on bToken contract with the appropriate spender as stated below.
| Token | bToken Contract | Spender |
|---|---|---|
bIB01 |
|
|
bC3M |
|
|
call depositFor(address receiver, uint256 amount) on the appropriate contract below:
| Token | Contract |
|---|---|
bIB01 |
|
bC3M |
|
Can I hold Wrapped bTokens if I don’t have a whitelisted wallet?
No, only whitelisted wallets can be holders of wbTokens. If you don’t have a whitelisted wallet and another wallet sends you wbTokens, the transaction will fail.
How can I whitelist my wallet?
Initially, only the wallets of clients KYCed by Backed will be included in the whitelist. Progressively we will be opening the whitelist to more users, coming from other KYC/KYB providers.
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