How to wrap USDA to wUSDA
Last updated
Last updated
Rebasing tokens aren't supported by all types of DApps and AMMs. To address this, you can "wrap" USDA into "Wrapped USDA" ($wUSDA) The wUSDA token lives here: 0x43833f0C2025dFA80b5556574FAA11CBf7F3f4eB Currently there is not a wrapping interface in the UI, so you'll need to follow the steps to interact with the contract directly. Step 1:
Navigate to the Etherscan URL page for $USDA so we can approve the $wUSDA contract as a spender: https://etherscan.io/address/0xD842D9651F69cEBc0b2Cffc291fC3D3Fe7b5D226#writeContract
Step 2:
Enter the $wUSDA contract (0x43833f0C2025dFA80b5556574FAA11CBf7F3f4eB) as the approved spender, and the number of USDA tokens you want to approve (* 1e18) and click "write" on the transaction:
Step 3:
Then proceed to the Etherscan contract page for Wrapped USDA (0x43833f0C2025dFA80b5556574FAA11CBf7F3f4eB) and go to the Contract->Write section: https://etherscan.io/address/0x43833f0c2025dfa80b5556574faa11cbf7f3f4eb#writeContract Under the option wrap() enter the amount of USDA tokens (in 1e18 format) that you want to convert and click "write"
Now you have Wrapped USDA which is a non-rebasing coin that owns a share of the USDA that rebase inside the wUSDA contract. So you capture the value without the token rebasing. Similar to how Compound's cTokens, or wstETH work.