Wrap Protocol

The Wrap Protocol by Bender Labs is an innovative bridge that allows users to transfer Ethereum-based assets like ERC-20 tokens and ERC-721 NFTs to the Tezos blockchain. By "wrapping" these assets, users can access the low fees, high scalability, and unique features of Tezos while still utilizing their Ethereum assets. Wrap Protocol opens up new possibilities for decentralized finance (DeFi) across chains, enhancing interoperability between two of the most powerful blockchain ecosystems.

Cross-Chain Interoperability

The Wrap Protocol enables seamless asset movement between Ethereum and Tezos. By wrapping ERC-20 tokens and NFTs from Ethereum, users can interact with Tezos-based dApps, unlocking new liquidity pools, yield farming opportunities, and DeFi tools.

Decentralized Governance

The protocol is governed by the WRAP DAO, a decentralized autonomous organization that allows users to participate in key decisions about the protocol’s upgrades and direction. This ensures that the community has control over the protocol’s development and functionality.

High Security with Trustless Wrapping

Wrap Protocol utilizes smart contracts and decentralized oracles to facilitate the wrapping and unwrapping process without relying on third-party custodians. This trustless system ensures that users’ assets are secure throughout the cross-chain transfer process, with transparency and safety guaranteed by blockchain technology.