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Can you explain what you mean by "high exchange liquidity"? My understanding is it's a policy issue not tech. Automated exchanges like Uniswap have Monero. ed

Can you explain what you mean by "high exchange liquidity"? My understanding is it's a policy issue not tech. Automated exchanges like Uniswap have Monero. edit: Uniswap has Wrapped Monero, not actual Monero.

popol12 5y ago
Not answering to the question, just correcting your last phrase: Uniswap has wrapped monero (WXMR) which is not quite the same as Monero, and with a ridiculous liquidity of ~200k$ currently (https://geckoterminal.com/eth/pools/0x14c10b4bdccd9d3f8940fb79e0ee00121391d6de?utm_source=coingecko&utm_medium=referral&utm_campaign=livechart https://geckoterminal.com/eth/pools/0x14c10b4bdccd9d3f8940fb...)
- matheusmoreira 5y ago
  How does wrapped monero work? I've seen a lot of wrapped coins but I'm not sure why they exist or why I would want to use them.
  - shubhamkrm 5y ago
    From what I've understood, coins are wrapped to enable cross-chain movements. Let's say you have X BTC, but you want to take advantage of ERC-20 features. You can "move" your BTC to Ethereum blockchain by depositing your X BTC in Wrapped BTC (WBTC) smart contract. It'll lock your BTC, and give you the equivalent amount of WBTC tokens, which are ERC20 tokens on the Ethereum chain.
  - RileyJames 5y ago
    Wrapped tokens enable use across otherwise incompatible blockchains. Wrapped tokens are facilitated through a bridge. The bridge contract(s) lock the tokens on one blockchain, and re-issue wrapped tokens on a second blockchain. At a 1:1 peg. That way the wrapped tokens can be used in Defi or Dapps on the second blockchain, and later (if desired) sent back through the bridge to be “unwrapped” into their original form, on the original blockchain.
    - kache_ 5y ago
      This is so cool! I feel like this is the sort of creative enablement that smart contracts bring to the table.
      - leppr 5y ago
        Just note that for now, most of those bridges are custodian. AFAIK at the moment the only trustless one is RenBTC. The more popular WBTC and others are essentially just some trusted entity issuing IOUs when you give them your BTC.
- magicjosh 5y ago
  Ah my mistake! Wrapped Monero isn't Monero, got it.

popol12 5y ago

Not answering to the question, just correcting your last phrase: Uniswap has wrapped monero (WXMR) which is not quite the same as Monero, and with a ridiculous liquidity of ~200k$ currently (https://geckoterminal.com/eth/pools/0x14c10b4bdccd9d3f8940fb79e0ee00121391d6de?utm_source=coingecko&utm_medium=referral&utm_campaign=livechart https://geckoterminal.com/eth/pools/0x14c10b4bdccd9d3f8940fb...)

matheusmoreira 5y ago
How does wrapped monero work? I've seen a lot of wrapped coins but I'm not sure why they exist or why I would want to use them.
- shubhamkrm 5y ago
  From what I've understood, coins are wrapped to enable cross-chain movements. Let's say you have X BTC, but you want to take advantage of ERC-20 features. You can "move" your BTC to Ethereum blockchain by depositing your X BTC in Wrapped BTC (WBTC) smart contract. It'll lock your BTC, and give you the equivalent amount of WBTC tokens, which are ERC20 tokens on the Ethereum chain.
- RileyJames 5y ago
  Wrapped tokens enable use across otherwise incompatible blockchains. Wrapped tokens are facilitated through a bridge. The bridge contract(s) lock the tokens on one blockchain, and re-issue wrapped tokens on a second blockchain. At a 1:1 peg. That way the wrapped tokens can be used in Defi or Dapps on the second blockchain, and later (if desired) sent back through the bridge to be “unwrapped” into their original form, on the original blockchain.
  - kache_ 5y ago
    This is so cool! I feel like this is the sort of creative enablement that smart contracts bring to the table.
    - leppr 5y ago
      Just note that for now, most of those bridges are custodian. AFAIK at the moment the only trustless one is RenBTC. The more popular WBTC and others are essentially just some trusted entity issuing IOUs when you give them your BTC.
magicjosh 5y ago
Ah my mistake! Wrapped Monero isn't Monero, got it.