Wrapped MPrice

(WM)

M is a rebasing token, meaning your wallet balance grows automatically as yield accumulates. In contrast, wM is non-rebasing; the token balance remains static. To access yield earned via wM, users must manually claim it. This static nature makes wM highly compatible with various decentralized finance (DeFi) tools, such as liquidity pools and lending platforms, which often cannot process tokens with changing balances.

Most decentralized protocols, including automated market makers and lending markets, expect a fixed number of tokens for their internal accounting. Because M uses a rebasing mechanism that automatically changes balances, it can cause technical issues in liquidity pools. wM was developed to provide a static, ERC-20 compliant version of the M stablecoin that can be easily integrated into the broader DeFi ecosystem and trading platforms like LBank.

Holding wM does not guarantee yield automatically. To begin earning, a user's wallet address must be included in the protocol's Earner List and trigger a specific function to start the process. Unlike the native token, wM yield is tracked separately and does not increase your wallet balance. You must execute a claim transaction to transfer the accumulated earnings into your wallet. Some integrations may also automate this claim during token transfers.

Users can convert between the two versions using the protocol's decentralized application or direct smart contract interactions. The wrap function converts native M into wM, while the unwrap function restores wM back to the rebasing M token. While the protocol maintains a consistent exchange value between the two versions, users must cover the network gas fees required to process these transactions on the blockchain.

The wM smart contracts have undergone extensive professional audits by leading security firms to ensure functional integrity and the safety of underlying assets. These audits focus on verifying the math behind the wrapping process, the security of the yield-claiming functions, and the overall solvency of the protocol. This rigorous testing helps maintain trust for users engaging with wM across various trading and lending platforms.

Wrapped M is primarily used for trading, lending, and providing liquidity within the decentralized finance ecosystem. It can be found on major decentralized exchanges and centralized platforms like LBank, often paired against other stablecoins. Due to its static balance, it is widely compatible with Ethereum and various Layer 2 networks, making it a versatile asset for users looking to utilize their stablecoin holdings in diverse financial applications.