WUSDN

• Source Code

• Deployed Contract

What is Wrapped USDN (wUSDN)?

It's an ERC-20 value-accruing token wrapper for the USDN token. 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 DeFi protocols that do not support rebasable tokens, especially bridges to L2s and other chains, as rebases 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.