Wrapped TaraPrice

(WTARA)

WTARA is the ERC-20 version of the native TARA coin. While native TARA is used for network security and gas, it does not inherently follow the token standards required for most smart contracts. WTARA bridges this gap by representing TARA at a 1:1 ratio. This allows the asset to interact with decentralized finance (DeFi) protocols, liquidity pools, and other automated applications that require the ERC-20 standard for trading and utility.

To wrap your tokens, connect your wallet to a supported decentralized platform within the ecosystem. Navigate to the wrapping or swap feature and select TARA as your input and WTARA as your output. Once you confirm the transaction, your native TARA is locked in a smart contract, and an equivalent amount of WTARA is minted directly into your wallet. Ensure you have a small amount of native TARA remaining to cover the network's gas fees.

No, WTARA does not earn native consensus staking rewards. Native TARA must be held and staked directly to participate in the network's security and earn associated rewards. However, WTARA offers alternative utility; users can provide liquidity to pools or participate in yield farming on decentralized platforms. These activities can generate different rewards, such as protocol-specific tokens, which may offer different return profiles compared to native staking.

To view your WTARA balance in a digital wallet like MetaMask, you must manually import it using its official contract address on the Taraxa Mainnet. The contract address is 0x5d0fa4c5668e5809c83c95a7cef3a9dd7c68d4fe. Simply navigate to the "Import Tokens" section, select the custom token option, and paste this address. The wallet should automatically detect the token details, allowing you to manage your WTARA holdings alongside your other assets.

WTARA exists natively on the Taraxa network. To move value to other chains like Ethereum, users typically utilize the Ficus Root Bridge. When using the bridge, it is generally recommended to unwrap WTARA back into native TARA first to ensure compatibility. Once bridged to the destination network, the asset functions as TARA (ERC-20), enabling its use within that network's specific decentralized applications and exchange ecosystems.

There is no protocol-level commission or conversion fee for the wrapping and unwrapping process; the exchange between TARA and WTARA is always performed at a 1:1 ratio. However, because these actions involve interacting with smart contracts on the Taraxa blockchain, you will be required to pay a minimal gas fee in native TARA. This fee is used to process the transaction and maintain the security of the network, similar to any other on-chain activity.