Library›Chains and how they work›Wrapped Tokens

Wrapped Tokens

Wrapped tokens are one-to-one representations of an asset from one chain, issued on another so it can move through that chain's applications. In the MELEK ecosystem the wrapped assets live on the PRANA EVM chain, where KulaSwap and the compute-mining machinery can use them.

wMELEK

wMELEK is wrapped MELEK, bridged from the MELEK chain onto PRANA. The bridge holds a strict invariant: the wMELEK supply equals the MELEK locked in the bridge, so each wMELEK is backed one-to-one.

Once on PRANA, wMELEK can be forever-locked — permanently committed to mint APIS-Hash, the soulbound compute-mining unit that drips APIS. That is the tie between holding MELEK and mining the engine's token.

A separate synthetic note, mMELEK, is minted by a collateralised-debt position and is kept strictly apart from the bridge-backed wMELEK — mMELEK is not the bridge asset, and mixing the two would break the bridge invariant.

wVKBT and wCURE

wVKBT and wCURE are the wrapped forms of the Hive-Engine tokens VKBT (Van Kush Beauty Token) and CURE, bridged onto PRANA one-to-one under multisignature custody and traded on KulaSwap as VKBT/KULA and CURE/KULA. Because they carry outside value, they are the route between MELEK and the wider world — see VKBT and CURE for the inbound/outbound path.

See also

• APIS
• VKBT and CURE
• KulaSwap
• PRANA Blockchain
• MELEK Blockchain

Sources

• kula.money
• github.com/HinduTempleCoins/Bot

Coverage

Describes the wrapped assets and the bridge invariant as designed. Live balances and prices change and are not reproduced here.

Filed under  Chains and how they work