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Wrapped Handshake (Namebase Bridge) News
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About Wrapped Handshake (Namebase Bridge)
Wrapped Handshake (WHNS) is an ERC-20 token designed to increase the liquidity and accessibility of Handshake (HNS) by integrating it with Ethereum’s DeFi ecosystem. Created and managed by Namebase, WHNS allows users to leverage their HNS tokens in various DeFi applications while maintaining transparency and a 1:1 backing with HNS.
WHNS is used to enhance liquidity and composability for Handshake tokens. By converting HNS into WHNS, users can take advantage of Ethereum’s vast DeFi ecosystem, which includes decentralised exchanges, lending platforms, and smart contract functionalities. WHNS can be traded on platforms like Uniswap and potentially be integrated into other DeFi services. It also simplifies the process for exchanges to list Handshake by providing an ERC-20 token rather than a native HNS token.
Wrapped Handshake (WHNS) is facilitated by Namebase, a platform that provides services related to the Handshake blockchain, including domain name registration and HNS trading. Namebase oversees the wrapping and unwrapping process of HNS to WHNS and ensures the 1:1 backing of the tokens. The transparency of the process is maintained through on-chain proof of reserves, ensuring that each WHNS token is backed by an equivalent amount of HNS.
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