WBTM: BAP20 token equivalent to BTM on the Bytom chain
WBTM is a 1:1 equivalent token of Bytom Sidechain and BTM, which can directly interact with smart contracts in Dapps, offering greater versatility.Author: Bytom
Compiled by: ChainCatcher
WBTM (Wrap BTM) is a BAP20 token that is equivalent to BTM 1:1 on the BMC chain (Bytom Sidechain). BTM is the native token of BMC, which can be used to pay for network gas fees, but it cannot be easily called by contracts and cannot be widely used in Dapps (decentralized applications), so WBTM is needed to play its role.
WBTM can be exchanged with BTM on a 1:1 basis and can be exchanged with one click at https://wbtm.bytom.io/
WBTM (Wrap BTM) is a BAP20 token that is equivalent to BTM 1:1 on the BMC chain (Bytom Sidechain). WBTM cannot be used to pay for network gas fees, but it can interact directly with smart contracts and can be used in various Dapps, offering greater versatility.
BMC (Bytom Sidechain) is a public chain compatible with EVM, which has very powerful smart contract capabilities. However, as the native token of the chain, BTM cannot interact directly with smart contracts (it requires transfers), so a token in BAP20 format is needed to fulfill this function, and WBTM was born to meet this need.
For example, in the Maze protocol, NFTs need to add collateral in the contract for pricing, which cannot be accomplished using BTM and requires conversion to WBTM to set the collateral function.
WBTM can be exchanged with BTM on a 1:1 basis.
