What is Wrapped Kubo (WKubo)?
WKubo was devised by Kubo’s Blockchain Solution Architect as the multi-faceted solution mitigating the rigidity of interacting on and with Ethereum protocol based platforms. KuboCoin’s Pivx-based protocol enables the community driven desires for features like Proof of Stake and Masternodes that are not currently extensible to Ethereum tokens/coins, however, these private-chain benefits also greatly restrict or exclude KuboCoin from direct interaction with the more popular ERC-20 based platforms. Wrapped Kubo (WKubo) bridges this divide by being a 1:1 binarily locked ERC-20 doppelganger for each Pivx-based KuboCoin. Each WKubo encapsulates it’s polar-opposite KuboCoin allowing use and application as an ERC-20 token while retaining the exact (to 18 decimal places) value of a corresponding Pivx-based coin. This allows each KuboCoin to essentially switch states and function on two separate, mutually exclusive protocols as needed… “Brilliant!”
What are the benefits of Wrapped Kubo (WKubo)?
For KuboCoin holders, WKubo can be used on:
- The KuboDEX, or any ERC-20 based decentralized exchange platform.
- Payment gateways only configured to accept Ethereum ERC-20 based cryptocurrencies.
- Hot/Cold/Warm wallets and storage vaults not programatically able to accept Pivx-based coins.
- Ethereum based DeFi dapps
- Ethereum based e-commerce marketplaces.
Is there a fee to convert WKubo?
No, there is no conversion, minting, or burning fee for conversion to or from WKubo. The only expense you will incur is the normal Gas fee for transacting on the network; Gas/Gwei for Ethereum sends, KuboCoin for KuboCoin sends.
How do I get WKubo?
Each WKubo is minted as it is exchanged for a KuboCoin, and reversely, a WKubo is burned for each KuboCoin when swapped back.
First, make sure you have added WKubo to your MetaMask, Ledger, or ERC-20 compatible wallet. Follow the instructions for your wallet.
- Sign in to your MetaMask wallet and click the “Add Token” link at the bottom of your token listings.
- Select the Custom Token tab and input this contract address:
- The token symbol (WKubo) and decimals (18) fields will automatically populate.
- Click Next and you be returned to your token list and you should see WKubo added.
- That’s it!
To initiate a KUBO (Mainnet) ⬌ WKubo conversion, please complete the Kubo<=>WKubo form.