SmarDex Ecosystem
Github
USDN Protocol
USDN Protocol
  • Introduction
    • Quick Overview
  • THE USDN Protocol
    • Protocol USDN Overview
      • Simplified Examples
    • Protocol Balance
      • Imbalance Protections
      • Equilibrium: The Role of the Funding Rate
    • Vault Side
      • Vault Overview
      • Rebase Mechanism
      • Yields
        • Funding Rates
        • Yield-bearing asset
    • Long Side
      • Long Perpetual
      • Long Overview
      • Dip Accumulator
      • wstETH Collateralization
      • Liquidations and Minimum Position
    • Inside the Protocol
      • Protocol vs Market Fluctuations
      • 1. Providing a Price
      • 2. Calculating Long PnLs
      • 3. Applying the Funding Rate
      • 4. Liquidating Positions
    • Integration
      • WUSDN
    • Fees
      • Protocol Fees
      • Liquidation Fee
    • Protocol parameters
    • Oracles
    • Governance
    • Risks
    • SDEX
    • Addresses
    • FAQ
    • Glossary
  • PERIPHERY
    • Long farming
  • Whitepaper
  • Github
  • Audits
Powered by GitBook
On this page
  • What is Wrapped USDN (wUSDN)?
  • Why use WUSDN?
  • How to use WUSDN?
  1. THE USDN Protocol
  2. Integration

WUSDN

PreviousIntegrationNextFees

Last updated 2 months ago

What is Wrapped USDN (wUSDN)?

It's an value-accruing token wrapper for the . Its balance does not change with each oracle report, but its value in USDN does. Internally, it represents the user's share of the total supply of USDN tokens.

Why use WUSDN?

wUSDN is mainly used as a layer of compatibility to integrate the USDN token into other protocols that do not support rebasable tokens, especially bridges to L2s and other chains, as don't work for bridged assets by default.

How to use WUSDN?

The contract can be used as a trustless wrapper that accepts USDN tokens and mints wUSDN in return. When the user unwraps, the contract burns the user's wUSDN and sends the user locked USDN in return.

At any moment, any amount of USDN can be converted to wUSDN via a trustless wrapper and vice versa, thus the tokens effectively share liquidity.

Source Code
Deployed Contract
ERC-20
USDN token
DeFi
rebases