Wrapped Meowcoin (wMEWC): Exploring new universes

Written by MeowCoinbaker

Core team determined to spread the coin beyond Meowcoin network to reach wider audiences

A strategic movement to attract investors towards the Meowcoin blockchain

Our team is excited to announce a new development: the creation of wrapped Meowcoin (wMEWC). In essence, this will allow MEWC coins to exist on other popular blockchains, making them accessible to investors familiar with networks like Ethereum, Binance, and Solana. This initiative is set to significantly increase the number of MEWC holders and, more importantly, expand the Meowcoin mission to more cat-loving crypto enthusiasts.

Wrapped Meowcoin Logo

The Meowcoin community has expressed great enthusiasm about wrapping MEWC, highlighting its many benefits: wider project exposure, a larger investor base, and potential price increases, all of which will enhance the project's appeal and credibility. This article aims to inform members unfamiliar with these other blockchains about the exciting possibilities ahead.

What is wrapped Meowcoin?

Firstly, it’s crucial to understand that new MEWC can only be issued through mining on the main network. Wrapped Meowcoin (wMEWC) is a one-to-one conversion of the original MEWC, not a new digital asset. It allows MEWC to be transformed into an asset operable on other networks, similar to how wrapped Bitcoin (wBTC) functions on the Ethereum network.

Each wMEWC unit is backed by an equivalent amount of MEWC. Our development team will ensure this through an application that converts MEWC to wMEWC and vice versa. This application will be available to all community members, enabling seamless conversion between MEWC and wMEWC on networks like Solana, Ethereum, and Binance. The converted MEWC will be frozen by the bridging application until reconversion, ensuring that MEWC is never destroyed, only transformed.

wMEWC definition

How will wrapped Meowcoin work?

From a user’s perspective, there are two main operations:

  • Wrap MEWC: Convert an amount of MEWC coins into an equivalent amount of wMEWC tokens on the ETH/BNB/SOL network.
  • Unwrap MEWC: Convert an amount of wMEWC tokens back into the same amount of MEWC coins on the main Meowcoin network.

The development team, led by @Catbreeder (Zach Price), will provide a service for these operations, ensuring technical and logistical support. The wrap/unwrap process will be completely anonymous. To use this service, you will need:

  • A MEWC wallet address with MEWC coins (for wrapping)
  • A wallet address on ETH/BNB/SOL, with wMEWC tokens (for unwrapping)

Note that this conversion is not a "swap" and does not involve a decentralized exchange (DEX).

A wallet supporting both MEWC and wMEWC is the Miracle Box by Gemlink, available for Android and desktop. Check out the beta version at the end of this article to prepare for wMEWC.

Operating with wrapped Meowcoin

What new opportunities does wMEWC bring?

Here are some of the key implications of wrapped Meowcoin:

  • Trading on DEXs: wMEWC can be traded on any DEX supported by its networks, allowing more exposure and accessibility for retail traders.
  • Increased visibility: wMEWC will stand out as a PoW coin in token-dominated networks, showcasing its strength and attracting token enthusiasts to the Meowcoin project.
  • Higher adoption and value: wMEWC’s presence on other networks will attract more and higher-quality investors, potentially increasing its value.
  • Expanded project initiatives: Increased valuation in FIAT terms will provide more financial resources for the core team to advance the Meowcoin mission, helping more animals in need.
  • More investment options: DEXs offer features like liquidity pools, providing new earning opportunities for MEWC investors.

wMEWC opportunities

What is the status of the wrapped Meowcoin project? When will it be available?

The project is currently in the investigation phase, focusing on:

  • Usage model: Designing the user interface.
  • Proof of concepts: Developing and testing small projects to solve technical challenges before final implementation.

We plan to start the first trials of the wrapper/unwrapper in the next few weeks (around 2-3 weeks), well ahead of the original schedule set for next year.

Meowcoin wrapped status

Stay tuned for these exciting developments!

Useful links for your reference: