https://twitter.com/BTSEcom/status/1346800594808406016ntroducing Wrapped Monero Token $XMR
https://blog.btse.com/introducing-wrapped-monero/"Wrapped Monero, brings XMR to the Ethereum network with all the flexibility of an ERC-20 token. Wrapped Monero (WXMR) is backed 1:1 by Monero and secured by BTSE.
Wrapped Monero brings greater liquidity to the Ethereum and DeFi ecosystem. It gives holders of Monero more flexibility to utilize their tokens without having to sell it for Ethereum or stablecoins, in order to access the many exciting opportunities in the DeFi space."
How do you rate this news? Is coloboration with Defi useful for monero?
what is the point? why are all these projects making their Wrapped version on ethereum and putting extra load of burden on ethereum blockchain? why would we need a Wrapped monero at all? it changes nothing but increase ethereum Gas fee and transaction problems.
My question is if wrapped Monero transactions are traceable. If they are, I'm not interested in.
the transactions will be on ethereum blockchain. so yeah they are traceable through any ethereum blockchain exploror. I am not interested either.