$102,351,789
Total Market Cap
351,169,169 WCFG
Circulating Supply
$151,926
24h Volume
$102,351,789
Total Market Cap
351,169,169 WCFG
Circulating Supply
$151,926
24h Volume
# | Signal | Exchange | Type | Age |
---|
Logo | Exchange | Price | Pair | Spread | 24h Volume |
---|---|---|---|---|---|
![]() |
Coinbase Advanced | $0.291 | WCFG-USD | $0.00 | $130,161 |
Wrapped Centrifuge (WCFG) is an ERC-20 version of the native Centrifuge (CFG) token that exists on the Ethereum blockchain. The Wrapped Centrifuge token allows CFG holders to utilize their tokens within the Ethereum ecosystem and access various decentralized finance (DeFi) applications. WCFG maintains a 1:1 peg with the native CFG token, meaning each WCFG represents one CFG token held in custody.
Wrapped Centrifuge (WCFG) functions through a wrapping mechanism that locks the original CFG tokens in a smart contract and mints an equivalent amount of WCFG on the Ethereum blockchain. This process allows Centrifuge's utility to extend beyond its native blockchain and integrate with Ethereum's vast DeFi ecosystem.
The wrapping process works as follows:
This wrapping mechanism ensures that the total circulating supply of CFG and WCFG combined remains constant, preventing any inflation in the token supply.
Wrapped Centrifuge (WCFG) itself does not directly support mining, as it exists on Ethereum which has transitioned to a Proof of Stake consensus mechanism. As for staking, WCFG holders have several options:
While direct staking of WCFG on Ethereum isn't native to the token's functionality, WCFG holders can:
The native CFG token supports staking on the Centrifuge Chain, where holders can participate in network security and governance. If you wish to stake, you would typically need to convert your WCFG back to CFG first.
Wrapped Centrifuge (WCFG) serves multiple purposes within the broader cryptocurrency ecosystem:
The distribution of Wrapped Centrifuge (WCFG) is directly tied to user demand for wrapping the native CFG token. Unlike a traditional token launch with an initial distribution event, WCFG is minted when users deposit CFG and burned when they withdraw it. This means there was no initial distribution event specifically for WCFG, as its existence depends entirely on users wrapping their existing CFG tokens.
The original CFG token had its own distribution methodology during its launch, which typically included allocations for team members, early investors, community incentives, and ecosystem development.
Wrapped Centrifuge (WCFG) can be traded on various cryptocurrency exchanges that support ERC-20 tokens. For traders looking to optimize their trading experience, Cryptohopper's automated trading bot offers a convenient solution for trading WCFG across multiple exchanges. This platform allows users to implement sophisticated trading strategies for WCFG without having to manually monitor market conditions around the clock.
Centrifuge itself is a protocol that connects real-world assets (RWAs) to DeFi, allowing businesses to finance real-world assets on-chain. The wrapping of CFG to WCFG represents a bridge between this innovative RWA platform and the broader Ethereum ecosystem.
When considering investment in WCFG, it's important to understand that its value is directly tied to the native CFG token and the overall success of the Centrifuge protocol in bringing real-world assets into the blockchain space. As with any cryptocurrency investment, conducting thorough research and understanding the underlying technology and tokenomics is essential before trading WCFG.
Below are the most popular denominations to convert to USD and back into WCFG
WCFG | US Dollar |
---|---|
0.01WCFG | 0.00USD |
0.1WCFG | 0.03USD |
1WCFG | 0.29USD |
2WCFG | 0.58USD |
3WCFG | 0.87USD |
5WCFG | 1.46USD |
10WCFG | 2.91USD |
25WCFG | 7.29USD |
50WCFG | 14.57USD |
100WCFG | 29.15USD |
250WCFG | 72.87USD |
500WCFG | 145.74USD |
1000WCFG | 291.48USD |
10000WCFG | 2,914.78USD |
50000WCFG | 14,573.90USD |
100000WCFG | 29,147.80USD |
US Dollar | WCFG |
---|---|
0.01 USD | 0.03430791WCFG |
0.1 USD | 0.34307907WCFG |
1 USD | 3.43079066WCFG |
2 USD | 6.86158132WCFG |
3 USD | 10.29237198WCFG |
5 USD | 17.15395330WCFG |
10 USD | 34.30790660WCFG |
25 USD | 85.76976650WCFG |
50 USD | 171.53953300WCFG |
100 USD | 343.07906600WCFG |
250 USD | 857.69766500WCFG |
500 USD | 1,715.39533001WCFG |
1000 USD | 3,430.79066002WCFG |
10000 USD | 34,307.90660016WCFG |
50000 USD | 171,539.53300078WCFG |
100000 USD | 343,079.06600155WCFG |