🏺Wrapped Fan Token

What is Wrapped Fan Token?

Wrapped Fan Tokens (WFT) are digital assets that hold the same value as the original fan tokens but are transformed through a smart contract process known as wrapping. While most tokens on various blockchain networks have decimal places, often 18 or 6, fan tokens do not have decimal places. This lack of fractional units made fan tokens challenging to trade or utilize effectively in many DeFi applications.

By wrapping fan tokens, they are converted into a format compatible with DeFi ecosystems. This conversion allows fan tokens to participate in a broader range of DeFi activities, such as liquidity provision, lending, and staking, which were previously difficult due to their indivisibility. Wrapped Fan Tokens thus enhance the utility and integration of fan tokens within the wider cryptocurrency landscape, making them more versatile and accessible for various financial operations.

Additionally, the process of wrapping and unwrapping fan tokens is designed to be straightforward and user-friendly. Users can easily wrap their fan tokens into Wrapped Fan Tokens or unwrap them back to their original form using a simple interface provided by KAYEN. This seamless process ensures that users can take advantage of the benefits of wrapped tokens without any complex technical steps, promoting wider adoption and usability.