When looking at popular tokens on your Infinex dashboard, you may have noticed some tokens have two placements; one with the ticker that you identify them by (for example, ETH) and another with a W added to the front of the ticker (for example, WETH). This W stands for Wrapped, symbolizing a token with equivalent value to another token on a different blockchain. When a token is wrapped, the original token is placed into a vault and a new token on the chosen network is minted. As a result, the original token can effectively be utilised on a different blockchain in order to access its native apps and technical framework. Wrapped Bitcoin (WBTC) is a popular example of this that allows BTC holders to utilise the Ethereum network.

You might have seen that ETH also has a wrapped token, WETH, also on the Ethereum network. This is as while ETH is the native token of the Ethereum network, it was implemented before the ERC-20 standard and thus does not conform to the ERC-20 standard. Thus, in order to use ETH with apps that require ERC-20 tokens, users must first wrap their ETH into WETH.