common-close-0
BYDFi
Trade wherever you are!

How does Luna differ from Wrapped Luna in the context of digital currencies?

avatarlatest infomation blogDec 26, 2021 · 3 years ago1 answers

Can you explain the differences between Luna and Wrapped Luna in the context of digital currencies? I would like to understand how these two tokens differ and what their specific use cases are.

How does Luna differ from Wrapped Luna in the context of digital currencies?
Digital Currencies
Luna
Wrapped Luna

1 answers

  • avatarDec 26, 2021 · 3 years ago
    Luna and Wrapped Luna are two different versions of the same token, each operating on a different blockchain. Luna is the original token on the Terra blockchain, while Wrapped Luna is an ERC-20 token on the Ethereum blockchain. The main purpose of Wrapped Luna is to enable Luna holders to access the Ethereum DeFi ecosystem. By wrapping Luna as an ERC-20 token, it becomes compatible with Ethereum-based applications and can be traded on decentralized exchanges. This provides more liquidity and flexibility for Luna holders, allowing them to take advantage of the opportunities in both the Terra and Ethereum ecosystems.

Related questions

common-arrow-bottom-0Load 5 more related questions
common-search-0

Related Tags

Hot Questions