Today we are introducing wrapped TUBE. This a token with the ticker wTUBE that runs on the Ethereum network. It is designed to improve the native $TUBE coin’s liquidity and interoperability. $TUBE holders can now enjoy swaps to other ERC20 tokens like wBTC and Tether. This opens the door for BitTube to enter the world of the Ethereum network and the world of DeFi.
While wTUBE price is determined by supply and demand, it is also tied to the current supply of the $TUBE coin. When users swap $TUBE coin to wTUBE, the current $TUBE coin supply will be adjusted (i.e. locked) by the total new amount of wTUBE in circulation, and vice versa. Each market moves independently and potential price differences should be solved by arbitrage (not accounting for high ETH fees).
Wrapping $TUBE enables users to explore new possibilities that allow the BitTube network to blend with other projects. They, on the other hand, get access to AirTime monetization for their social networks and websites. The time-based AirTime reward system gives content creators a direct payment gateway to their audiences, and wTUBE expands the number of opportunities in this area.
Below is the pre-release of the CLI wallet for Linux and Windows. Ongoing testing and community feedback will be carried out for 7 days before the Windows wallet release.
Download at BitTubeCash Cli Wallet
Official contract address:
Visit wTUBE token on Etherscan.
Visit wTUBE Contract on Etherscan.
We would like to know what your vision is for the best use cases of wTUBE. Leave us a comment below or join our community on Discord via this link.
The BitTube team