Question 1

What is Wrapped Zano (WZANO)?

Accepted Answer

Wrapped Zano (WZANO) is an ERC-20 token on the Ethereum blockchain that represents Zano (ZANO) on a 1:1 basis. This means each WZANO token can be exchanged for one ZANO token and vice versa. The process of converting ZANO to WZANO is known as "wrapping," while converting WZANO back to ZANO is referred to as "unwrapping".

Question 2

What is Wrapped Zano (WZANO) used for?

Accepted Answer

Wrapped Zano (WZANO) allows Zano holders to interact with the Ethereum ecosystem, enabling them to use ZANO in various decentralised applications (dApps), smart contracts, and decentralised finance (DeFi) platforms. WZANO can be traded on Ethereum-based decentralised exchanges like Uniswap and Sushiswap, providing liquidity and investment opportunities without requiring centralised exchanges or Know Your Customer (KYC) procedures. This facilitates greater utility for Zano holders, allowing them to earn yields and participate in the broader DeFi ecosystem.

Question 3

Who created Wrapped Zano (WZANO)?

Accepted Answer

Wrapped Zano (WZANO) was developed by the Zano team. The team manages the custodial wallet that holds the ZANO backing the WZANO in circulation. This custodial wallet is auditable, ensuring transparency and trust. The creation of WZANO is part of the Zano project's broader goal to enhance privacy and provide users with access to the Ethereum ecosystem while maintaining the privacy and security features inherent to Zano.