Details about Wrapped Flare cryptocurrency
Wrapped Flare
WFLR
Unknown for now
€79,691
0
Unknown
https://flare.network/
@FlareNetworks
Wrapped Flare price charts
WFLR exchanges
Wrapped Flare, the crypto
Wrapped Flare (WFLR) is a digital asset that represents the value of Flare Finance's native token, Flare (FLR), on the Ethereum blockchain. WFLR is an ERC-20 token that is backed by the same amount of FLR held in custody by the Flare Finance team.
The point
The main point of WFLR is to allow FLR holders to use their holdings on the Ethereum blockchain and participate in decentralized finance (DeFi) applications built on Ethereum. By wrapping FLR into WFLR, users can take advantage of the vast ecosystem of DeFi applications on Ethereum, such as borrowing, lending, and trading.
The problem
Prior to the creation of WFLR, FLR could not be directly used on the Ethereum blockchain due to different technical standards. This limited the utility of FLR and prevented FLR holders from accessing DeFi applications on Ethereum. By wrapping FLR into an ERC-20 token, WFLR solves this problem and allows FLR holders to use their holdings on the Ethereum blockchain.
Compare WFLR and BTC performance
| Timeframe | WFLR | BTC |
|---|---|---|
| 1h change | 0.615695 % | 0.201701 % |
| 24h change | 2.51 % | 6.06679 % |
| 7 day change | 3.48 % | -0.485047 % |
| 14 day change | -9.68 % | -2.40839 % |
| 30 day change | -21.34 % | -3.78187 % |
| 200 day change | 236.59 % | 117.264 % |
| Year change | 0 % | 122.635 % |