Beginners Guide to Wrapped Tokens by pNetwork

pNetwork introduced beginners guide on pTokens and how they work.

There are two significant obstacles to entering the DeFi ecosystem right now.

The first one is to have an ERC-20 token, where you’ll need to swap the crypto you have for a different ERC-20 token in a fiat currency exchange, therefore changing the asset allocation in your portfolio and connected risk profile. A solution to this is the pTokens dApp that lets you swap your crypto token for their corresponding representation on blockchains like Ethereum, Binance Smart Chain or Arbitrum, so-called wrapped tokens.

The second one is to pay the high transactional fees on the Ethereum blockchain to participate in the DeFi market — while the chain is undergoing infrastructural changes, a variety of Layer 2 scalability solutions are going live and attracting a share of the DeFi market, therefore making wrapped tokens even more valuable.

About pNetwork

pNetwork is a decentralized network powering the pTokens solution.

INFO

https://medium.com/pnetwork/beginners-guide-to-wrapped-tokens-2b2ea7c60a2b

Source: https://thebittimes.com/beginners-guide-to-wrapped-tokens-by-pnetwork-tbt4653.html?utm_source=blogger_source&utm_medium=blogger_medium&utm_campaign=blogger_cam

Category: DeFI News

Post by: TheBitTimes.com