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Wrapping pFIL into wpFIL

pFIL is a rebasable token​

The amount of pFIL balance is not constant - it changes as rewards are distributed, resulting in what is known as a rebasable token.

wpFIL is a wrapped version of pFIL​

When wrapping pFIL, one will obtain a corresponding amount of wpFIL. The amount of wpFIL obtained from the wrapping corresponds to the amount of underlying shares of pFIL.

wpFIL balance WILL NOT change as rewards are distributed. However, as rewards are distributed, the value of each pFIL share (wpFIL) increases. As a result, upon unwrapping wpFIL, one will receive a larger amount of pFIL than they had originally wrapped.

Here is an example:

  • User wraps 100 pFIL to 99.87 wpFIL.
  • User continues to get rewards on wpFIL.
  • When user unwraps wpFIL, they receive 101 pFIL.
  • User can head over to the wrap page to wrap desired amounts of pFIL or FIL into wpFIL.
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Why the need for wpFIL?​

Although pFIL’s rebasing mechanism allows a constant change in balance to reflect rewards, most liquidity pools require a constant balance mechanism for tokens.

Wrapping pFIL into wpFIL allows users to deposit their wpFIL into liquidity pools, earning LP rewards on top of the pFIL rewards. Thus wpFIL allows a seamless integration into popular DeFi protocols in various ecosystems.