Wrapped Oxen (wOXEN) is an ERC-20 token on the Ethereum blockchain that represents Oxen (OXEN), a privacy-focused cryptocurrency that runs on its own Monero-based blockchain. This wrapping service is provided by the Oxen Foundation to enhance the interoperability of OXEN with Ethereum-based tools and DeFi applications. Each wOXEN token is backed 1:1 by OXEN tokens stored on the Oxen blockchain. This wrapping process allows users to deposit OXEN into the wOXEN bridge and receive wOXEN tokens in return, which can then be used on the Ethereum network.

wOXEN is primarily used to facilitate the use of OXEN within the Ethereum ecosystem. This includes participating in DeFi applications, trading on Ethereum-based exchanges like Uniswap, and providing liquidity in the wOXEN-USDT pool. Users can swap wOXEN back to OXEN through the same bridge by burning the wOXEN tokens, which is managed by a smart contract system under the oversight of the Oxen Foundation.

The creation of Wrapped Oxen is overseen by the Oxen Foundation, which is also responsible for the development and maintenance of the Oxen blockchain and its associated privacy tools. The founding team of Oxen includes Simon Harman (CEO), Kee Jeffreys (CTO), Christopher McCabe (COO), and Josh Jessop-Smith (CMO). They started the project, originally known as Loki, in 2017 at the Melbourne Blockchain Center, driven by a shared passion for privacy technology and blockchain.