Wrapped POKT (WPOKT) is a tokenized version of Pocket (POKT) that runs on the Ethereum blockchain. It is compliant with ERC-20 standards, allowing for seamless integration with Ethereum's DeFi and DAO ecosystem. WPOKT is backed by POKT at a 1:1 ratio, enabling users to transfer liquidity between the POKT and ETH networks in a decentralized manner. Holders of WPOKT can bridge it to the Pocket Network blockchain to stake as node runners, validators, or applications/gateways, accessing the relay throughput provided by Pocket Network.
Wrapped POKT (wPOKT) is an Ethereum ERC-20 token backed 1:1 by POKT. It is designed to enhance the interoperability of Pocket Network with the Ethereum ecosystem, particularly in DeFi and DAO tooling and infrastructure. This token allows for improved liquidity and access to POKT, enabling financial integrations such as streaming payments and DAO budgeting.
Usage- Interoperability: wPOKT enables the integration of Pocket Network with Ethereum's ecosystem, allowing for seamless interactions between the two networks.
- Liquidity: wPOKT improves liquidity for POKT by providing an Ethereum-based representation that can be traded on platforms like Uniswap.
- Staking: Holders of wPOKT can bridge it back to the Pocket Network blockchain to stake as node runners, validators, or application/gateway operators, accessing the relay throughput provided by Pocket Network.
- Liquidity Provision: Users can act as liquidity providers in the wPOKT/ETH liquidity pool on Uniswap, contributing to the token's market stability.
- 1:1 Backing: wPOKT is backed by POKT at a 1:1 ratio, ensuring that each wPOKT token can be swapped for one POKT token and vice versa.
- ERC-20 Compliance: wPOKT is fully compliant with the Ethereum ERC-20 standard, ensuring compatibility with Ethereum's ecosystem.
- Uniswap: wPOKT can be accessed and traded on Uniswap, a popular decentralized exchange.
- Bridge: Users can wrap their POKT to wPOKT using the wPOKT bridge, which involves locking POKT in a vault and minting the corresponding wPOKT tokens.
- Liquidity Pools: wPOKT can be staked in liquidity pools on Uniswap, providing liquidity and earning rewards.
To store wrapped POKT (wPOKT) tokens, you can use an Ethereum wallet that supports ERC-20 tokens. The official POKT wallet does not have built-in support for wPOKT, but you can import the official wallet to either a Ledger or NodeWallet, which are compatible with wPOKT.
Wrapped POKT (wPOKT) tokens can be purchased on various exchanges, both decentralized and centralized. Here are the steps to buy wPOKT tokens:
Decentralized Exchanges (DEXs):
- Uniswap V2 (Ethereum): This is the most popular exchange for buying and trading wPOKT tokens. You can trade wPOKT/WETH pairs on Uniswap V2.
- Uniswap V3 (Ethereum): Another option for trading wPOKT tokens is Uniswap V3.
- Bilaxy: Bilaxy is another decentralized exchange where you can buy wPOKT tokens.
Centralized Exchanges (CEXs):
- Gate.io: Gate.io is a centralized exchange where you can buy wPOKT tokens. The current price and trading volume can be found on their website.
Over-the-Counter (OTC) Trading Desks:
- White-label Markets: OTC desks are operated by intermediaries who match buyers and sellers. They are typically used for large volume trades and can be found on the POKT forum.
- Liquidity Pools:
- Uniswap wPOKT/ETH Liquidity Pool: You can also act as a liquidity provider in the wPOKT/ETH liquidity pool on Uniswap, which helps maintain liquidity and facilitates trading.
Before buying, ensure you have a compatible wallet set up, such as MetaMask, and that you have imported the wPOKT token contract address (0x67f4c72a50f8df6487720261e188f2abe83f57d7).