WUSDN

• Source Code

• Deployed Contract

What is wrapped USDN (wUSDN)?

It's an ERC-20 value-accruing token wrapper for USDN. Its balance does not change with each oracle report, but its value in USDNdoes. Internally, it represents the user's share of the total supply of USDNtokens.

Why use wUSDN?

wUSDNis mainly used as a layer of compatibility to integrate USDNinto 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 USDNin return.

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