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RE: The First wHIVE Was Just Minted on the ETH Blockchain

in LeoFinance5 months ago

Or is that impossible for Hive-Engine Tokens?

It's possible.

Actually, it's possible to wrap anything into the token. Someone made an ICO from himself, and then let his "shareholders" to decide about his life. Wrapped tokens are just a (fancy) way to say that tokens represent someting else (assets on other chains, fiat, gold, etc..).

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Thank you. I assume someone has to volunteer or be paid to write the code for each new coin to be wrapped?

Coins itself are usually standard ERC20 tokens and anyone can create them (e.g https://vittominacori.github.io/erc20-generator) but someone has to build an "oracle" to exchange wrapped tokens and another asset.

Thanks for the information. I will check out the link to see what I can learn there.