Wrapped Tokens+

What is Wrapped Tokens+?

Wrapped Tokens+ (like wUSD+) are wrapped versions of tokens like USD+, designed to maintain a constant balance for use in certain DeFi protocols. Unlike USD+, where the token balance changes daily with payouts, wrapped tokens provide stability by keeping the token amount fixed in your wallet.

Instead of increasing the number of tokens to distribute yields, Wrapped Tokens+ accumulate rewards through a price increase. This allows for seamless integration with DeFi platforms that require a stable balance mechanism, ensuring that your balance remains constant while still earning payouts through the price appreciation of the wrapped token.

How to Wrap Tokens+ on Overnight

To Wrap Tokens+, follow these steps:

1

Visit the Mint Page:

Go to the Mint page on the Overnight platform.

2

Select Wrap or Unwrap Option:

Choose the "Wrap" option to convert your USD+ into a wrapped version, such as wUSD+. Alternatively, select "Unwrap" if you wish to convert wrapped tokens back into their original form.

3

Asset Selection:

Choose the Token+ you want to use for wrapping from the available options.

4

Asset Input:

Enter the amount you want to Wrap. The platform will show the amount of the wrapped asset based on the current rate.

5

Transaction Execution:

Click the "Wrap" button to execute the transaction. Confirm the transaction in your connected wallet by following the prompts.

6

Transaction Completion:

Once confirmed on the blockchain, the wrapped asset will be credited to your wallet.