Alvey Chain wALV on the Binance Smart Chain in the form of BEP-20 token that represents ALV main coin on our own blockchain .
Once you’ve brought your assets to BSC, you can trade them or use them in various yield farming applications, or to swap it to our main net.
The wrapping and unwrapping cost gas; however, as far as BSC is concerned, you can expect significantly lower gas costs than other blockchains.
Benefits of using wrapped tokens
Even though many blockchains have their own token standards (ERC-20 for Ethereum or BEP-20 for BSC), these standards can’t be used across multiple
chains.
Wrapped tokens allow non-native tokens to be used on a given blockchain.
In addition, wrapped tokens can increase liquidity and capital efficiency both for centralized and decentralized exchanges.
The ability to wrap idle assets and use them on another chain can create more connection between otherwise isolated liquidity.
And lastly, a great benefit is transaction times and fees.
While Bitcoin has some fantastic properties, it isn’t the fastest and can sometimes be expensive to use.
While that’s fine for what it is, it can cause some headaches sometimes.
These issues can be mitigated by using a wrapped version on a blockchain with faster transaction times and lower fees.
A wrapped token is a cryptocurrency token pegged to the value of another crypto.
It’s called a wrapped token because the original asset is put in a wrapper, a kind of digital vault that allows the wrapped version to be created on another
blockchain.
What’s the point? Well, different blockchains offer different functionality. And they can’t talk to each other
The Bitcoin blockchain doesn’t know what’s happening on the Ethereum blockchain.
However, with wrapped tokens, there can be more bridges between different blockchains