Wrapped Everscale
Crypto Overview
Purpose and Utility
Wrapped Everscale (WEVER) is a wrapped version of the native EVER token on the Everscale blockchain. Its primary purpose is to enable users to interact with DeFi applications within the Everscale ecosystem while maintaining the value of the native EVER token. WEVER functions as a bridge token that facilitates cross-chain operations and DeFi activities.
Business Model and Operations
The token operates through a 1:1 backing mechanism where each WEVER token is backed by an EVER token held in a smart contract. Users can wrap and unwrap their EVER tokens freely, creating or redeeming WEVER tokens as needed. This model provides transparency as the backing can be verified on-chain.
Real-World Adoption
WEVER is actively used within the Everscale ecosystem, primarily for DeFi applications and cross-chain bridges. The token maintains consistent trading volume and active usage in decentralized exchanges and other DeFi protocols on the Everscale network.
Development Activity
The project shows ongoing development activity as part of the broader Everscale ecosystem. Regular updates and improvements to the wrapping mechanism and associated smart contracts demonstrate continued maintenance and development effort.
Token Distribution
The token distribution follows a transparent mechanism where new WEVER tokens are only created when EVER tokens are deposited into the smart contract. This eliminates concerns about founder enrichment as there is no pre-mine or initial token allocation.
Crypto Impact
To assign a comfort level investing in Wrapped Everscale from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Wrapped Everscale.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.