The first core assets available as wrapped products will be CelsiusX wrapped Cardano (cxADA), Dogecoin (cxDOGE), and Ethereum (cxETH) deployed onto Polygon. This deployment implements the wrapping of both ERC20 and non-ERC20 assets.
The wrapped tokens will be deployed in the following pool structures on the largest Polygon decentralized exchange, Quickswap:
  • cxADA / cxETH
  • cxDOGE / cxETH
  • cxETH / WETH
All relevant addresses can be found at Smart Contract Addresses.

Core Functionality

The wrapped token will be an ERC20 following the pattern provided by Wrapped along with additional functionality:
  • Upgradeability
  • Minting
  • Burning
  • Pausable
  • Whitelist
  • Blacklist
  • Upgradeable
  • Updating the Oracle

Wrapping ERC20 Native vs Non-ERC20 Native Assets

CelsiusX will wrap both ERC20 and non-ERC20 native assets, with future implementations planned for both categories. The main difference in the wrapping procedure, as illustrated in the following diagrams, is that ERC20 native assets only require a Chainlink oracle to broadcast the vault balance between the Ethereum and the target blockchain. While in contrast, non-ERC20 native assets are first converted to ERC20 tokens on Ethereum as a central registry and Chainlink oracles manage the collateral between 3 different chains.