WFCT — Wrapped FCT (Factom)

Factom Protocol launches WFCT — a community led, 100% backed and verifiable FCT token, issued on the Ethereum blockchain.

Wrapped FCT (WFCT) is backed 1:1 with a native FCT token on the Factom blockchain — the number of issued WFCT tokens is equal to the number of native FCT tokens locked in custody.

Use Cases

WFCT brings Factom token into Ethereum ecosystem — with WFCT, Factom tokenholders can:

– Access a range of DeFi products and yield farming platforms with FCT

– Swap FCT into thousands of tokens on DEXs

– Use MetaMask and dozens of wallets (including mobile and hardware wallets) for FCT.

Gateway

A WFCT gateway will be launched on Factom and Ethereum testnets in November 2020, and the mainnet gateway will be launched a few weeks later.

Users can freely move their tokens between Factom and Ethereum networks using partner infrastructure.

qTrade.io, US based cryptocurrency exchange, joins WFCT network as an exchange partner — WFCT/FCT trading pair will be enabled on qTrade until the end of year, and then users will be able to exchange FCT to WFCT and vice versa 1:1 with no slippage.

The WFCT network opens the door into DeFi for Factom Protocol — according to the WFCT roadmap DeFi products utilizing WFCT and Uniswap liquidity pools will be launched in Q1 2021.

About

Factom Protocol is a L2 Oracle to the World’s data. Enabling scalable apps and platforms, tokenised assets and digital ID.

A recent partnership with the William & Mary Univeristy Blockchain Lab to develop cutting-edge governance systems is under way.