VENOM TOKEN
WVenom
1min
The $VENOM token is the ecosystem's native token. Its wrapped version (WVenom) is a TIP-3 token implemented in smart contract code. WVenom is issued 1-to-1 with the $VENOM token. Holders of the wrapped version have a programmatically guaranteed way of exchanging one version for the other.
DeFi protocols and other applications only support the TIP-3 token standard as it is easy to implement and provides general compatibility.
For this reason, most users of DeFi platforms will likely not have direct ownership of $VENOM but its wrapped version instead. Wrapping is handled by most protocols behind the scenes so a user sending $VENOM to an application may not notice the process of their token being wrapped.