Crypto Assets

Wrapped Bitcoin (wBTC)

Bitcoin (BTC) is a peer-to-peer digital currency native to the Bitcoin network. Fees and rewards for processing transactions on the Bitcoin Network are denominated in BTC. Satoshi Nakamoto launched BTC in January 2009.

Wrapped Bitcoin (wBTC) is a tokenized version of Bitcoin that runs on the Ethereum (ETH) blockchain. wBTC is backed by Bitcoin at a 1:1 ratio via a network of automatically monitored merchants and custodians. Partners BitGO, Kyber Network, and Ren launched wBTC on January 31, 2019.

Wrapped Ether (wETH)

Ether (ETH) is the native token of the Ethereum Network, a decentralized open-source blockchain system. Fees and rewards for processing transactions on the Ethereum Network are denominated in ETH. Ethereum works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts.

ETH trades via an ERC-20 smart contract for an equal token called wETH. wETH is needed to be able to trade ETH for other ERC-20 tokens on decentralized platforms because ETH was built before the ERC-20 standard existed and does not conform to its own ERC-20 standard.

The non-profit Ethereum Foundation officially launched the blockchain on July 30, 2015.

SMT

The Swarm Token (SMT) is the payment token powering the rewards and incentives program for the Swarm platform. Swarm launched SMT in August of 2021.

Detailed information can be found on the SMT page.

USDC

USD Coin is a stablecoin that is pegged to the U.S. dollar at a ratio of 1:1. Every USDC token is backed by USD $1.00 in reserve assets.

USDC is adminsitred by the Centre Consortium, consisting of peer-to-peer payment services company Circle, and the Coinbase cryptocurrency exchange. USDC launched in September 2018.

EUROC

EUROC is a stablecoin that is pegged to the EURO at a ratio of 1:1. Designed for stability, Euro Coin is 100% backed by euros held in euro-denominated banking accounts so that it’s always redeemable 1:1 for euros.

EUROC is administered by the Centre Consortium, consisting of peer-to-peer payment services company Circle, and the Coinbase cryptocurrency exchange. EUROC launched in July 2022.

MATIC

MATIC is the native token of the Polygon Network (formerly Matic Network). Fees and rewards for processing transactions on the Polygon Network are denominated in MATIC.

Polygon is a Layer 2 scaling solution — a framework for building and connecting Ethereum-compatible blockchain networks — managed by the Polygon Foundation and backed by Binance and Coinbase Ventures. MATIC launched in April of 2019.

DAI

DAI is a stablecoin that is soft-pegged to the U.S. dollar at a ratio of 1:1. Every DAI token is backed by a collateralized mix of other cryptocurrencies that are deposited into smart-contract vaults in order to mint new DAI.

DAI is issued by Maker Protocol and the MakerDAO—a decentralized autonomous organization. MakerDAO is managed democratically by the holders of Maker (MKR) governance tokens. DAI launched in December 2017. Governance information can be found here: https://vote.makerdao.com/.

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