WTC utilize our Extendable Token Standard for DFINITY's Internet Computer allowing us to wrap native computation "cycles".
These cycles are pegged to 1XDR (approx. $1.44USD) making WTC a perfect stable coin, backed by actual computation.
As an example, this site being served to you consumes these cycles to run!
You can mint WTC by sending ICP directly to our Minter or by sending unused cycles to our WTC canister! Find out more!
Easily convert WTC back to cycles to power your canisters directly from supporting wallets! Find out more!
Unused cycles can be converted to WTC and sold on supporting exchanges, or can be used to pay for other services on the Internet Computer
WTC is backed one-to-one by 1 Trillion IC Cycles (1TIC). Cycles are stored securely within our smart canister, and token holders can easily trade and transfer WTC without having to deal with the native cycles interface. Once ICP is converted to TICs they can't be converted back, so developers who have an excess of cycles will be stuck with them. WTC allows these cycles to be wrapped and easily traded on supporting exchanges.
1TIC can be minted by the protocol by sending 1XDR worth of ICP to the minting canister, which is why 1WTC will remain relatively stable at a value of 1XDR
Our baking machines will be run in private, connected via a VPN. Our baking keys will be secured on a HSM. Multiple redundancies will be in place to ensure 100% baking uptime.
How can we help you?
WTC is currently in alpha, and we are currently testing our token and will look to get our canister code reviewed and audited. Please only use for testing purposes while we finish working on things behind the scenes.
When sending cycles to be wrapped and minted into WTC, we take a 0.001WTC fee (about 1B cycles) - about $0.0014USD currently - which is used to power our canisters, and we also charge the cost of computation to complete the minting process (negligible).
When sending ICP to be converted and wrapped, you have to pay an ICP transction fee for sending and converting the ICP to cycles (which is about 0.0004ICP) - this is currently enforced by the protocol. We also take a further 1B minting fee and the additional cycles used to complete the conversion.
You can mint WTC by sending ICP to our Minter canister, or by sending cycles directly to our token canister. Find out more!
The easiest way is via supporting wallets where you can send WTC directly to your canister and add a Memo to the transaction which will convert the WTC and send cycles. This allows you to easily top up your canisters. We also allow a more programmatic approach for developers too. Find out more!
XDR (or SDR) is an international reserve asset created by the IMF from a basket of currencies including the United States Dollar. At the time of writing, it is currently worth $1.44USD, and retains a relatively stable value.