What is Wrapped Tezos?
WTZ is fully fungible. Unlike other collateralized/wrapped XTZ, a user does not have a personal oven or vault. Anyone who holds WTZ can swap it back to XTZ at the current swap ratio. There is no slippage or loss of funds as there might be with trading through a DEX or AMM.
There is now an FA2 compatible version of XTZ, ready for use in dapps and protocols across the ecosystem.
What is Tezos?
Tezos is a blockchain network that’s based on smart contracts. Tezos aims to offer infrastructure that is more advanced by combining a self-amending protocol and on-chain governance — meaning it can evolve and improve over time without there ever being a danger of a hard fork.
Stakeholders vote on amendments to the protocol, including amendments to the voting procedure itself, to reach a social consensus on proposals. People who hold $XTZ can vote on proposals for protocol upgrades that have been put forward by Tezos developers. Tezos supports smart contracts and offers a platform to build decentralized applications.
