BTC$77,960.00▲ 1.90%ETH$2,296.99▲ 2.30%USDT$0.9988▲ 0.02%BNB$700.44▲ 1.28%XRP$1.27▲ 2.16%USDC$1.00▲ 0.02%SOL$92.88▲ 1.63%TRX$0.3221▲ 0.46%FIGR_HELOC$1.03▼ 0.22%ZEC$1,269.43▲ 12.53%HYPE$84.79▲ 1.62%XMR$118.70▲ 5.70%DOGE$0.0746▲ 1.49%USDS$1.00▲ 0.02%WBT$74.91▲ 1.93%LEO$9.30▼ 0.01%LINK$11.05▲ 0.04%ADA$0.1902▲ 2.14%XLM$0.1623▲ 1.14%BCH$274.90▲ 0.06%NEAR$3.95▲ 4.57%DAI$1.0000▲ 0.01%USDE$1.00▲ 0.08%RAIN$0.006288▼ 1.71%UNI$7.36▲ 5.49%LTC$54.36▲ 0.96%CC$0.0986▲ 5.77%AVAX$8.51▲ 3.20%USD1$0.9996▲ 0.06%SUI$0.8954▲ 4.12%GRAM$1.17▲ 0.73%XAUT$4,007.26▲ 2.82%HBAR$0.0698▲ 1.28%QNT$194.19▲ 1.05%USDG$1.00▲ 0.02%SHIB$0.000005▲ 2.60%PYUSD$1.0000▲ 0.02%TAO$227.40▲ 3.48%RLUSD$1.00▲ 0.01%CRO$0.0507▲ 1.52%BTC$77,960.00▲ 1.90%ETH$2,296.99▲ 2.30%USDT$0.9988▲ 0.02%BNB$700.44▲ 1.28%XRP$1.27▲ 2.16%USDC$1.00▲ 0.02%SOL$92.88▲ 1.63%TRX$0.3221▲ 0.46%FIGR_HELOC$1.03▼ 0.22%ZEC$1,269.43▲ 12.53%HYPE$84.79▲ 1.62%XMR$118.70▲ 5.70%DOGE$0.0746▲ 1.49%USDS$1.00▲ 0.02%WBT$74.91▲ 1.93%LEO$9.30▼ 0.01%LINK$11.05▲ 0.04%ADA$0.1902▲ 2.14%XLM$0.1623▲ 1.14%BCH$274.90▲ 0.06%NEAR$3.95▲ 4.57%DAI$1.0000▲ 0.01%USDE$1.00▲ 0.08%RAIN$0.006288▼ 1.71%UNI$7.36▲ 5.49%LTC$54.36▲ 0.96%CC$0.0986▲ 5.77%AVAX$8.51▲ 3.20%USD1$0.9996▲ 0.06%SUI$0.8954▲ 4.12%GRAM$1.17▲ 0.73%XAUT$4,007.26▲ 2.82%HBAR$0.0698▲ 1.28%QNT$194.19▲ 1.05%USDG$1.00▲ 0.02%SHIB$0.000005▲ 2.60%PYUSD$1.0000▲ 0.02%TAO$227.40▲ 3.48%RLUSD$1.00▲ 0.01%CRO$0.0507▲ 1.52%

Wrapped Token

A token on one chain that represents an asset held on another, issued against locked collateral so that it can be used where the original cannot.

A wrapped token is only worth the redeemability of its backing. It carries the price of the underlying asset plus the risk of whoever or whatever holds the collateral, and those two things are routinely conflated.
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