WHEYv2
WHEYv2 is the wrapped version of WHEY token and is required to bridge WHEY between the Ethereum and Polygon networks. Please use the wrapper at https://swap.cntr.finance/#/wrap to swap between WHEYv2 and WHEY.
Tokens on the Polygon network are classified into mintable and non-mintable tokens, which refer to tokens with variable and fixed supplies respectively. In order to create a corresponding WHEY token with an emission schedule on the Polygon network, a token smart contract has to be deployed on the Ethereum network according to certain technical specifications.
Because of this technical requirement, many projects that exist on both Polygon and Ethereum typically deployed two separate tokens on each chain.
Centaur explored several possible solutions, including deploying WHEY as a non-mintable token and bridging over part of the WHEY treasury on Ethereum to serve as rewards for Centaur Swap, but decided that deploying a smart contract that can wrap WHEY into WHEYv2 is the most cost-effective and feasible.
The WHEY wrapper is intended to function as a stop-gap measure so that Centaur Swap can be deployed onto the Polygon network in a timely manner. Centaur will be conducting a full token swap to a token standard that compatible mintable token standard on the Polygon network in the near future.
To preserve the fungibility of WHEY, the Centaur team has chosen the more difficult solution of deploying WHEYv2 on the Ethereum and Polygon networks, instead of launching two separate tokens as many projects have done. This will allow seamless interoperability of WHEY on Ethereum and Polygon, and many other L1 and L2s protocols in the future.
Last modified 2yr ago