In the Blockchain world, there are dozens of projects with different structures and different network structures with each other. Each project has either created its ecosystem or works in such a way as to integrate with that ecosystem, preferring an ecosystem. The continuous flow of information data between ecosystems is essential for the development of social life. But speaking the language that everyone knows is not communication but just a monologue. Will not answer the problems, nor will it come across as a new problem.
The networks on which the work of the project cannot talk to each other. The Bitcoin network cannot see any developments in the Ethereum or Eos network. This accurate within various networks. Can not information or money in a particular blockchain transfer to another blockchain? For this reason, some regulations are necessary to maintain the networks ‘ relations with each other and ensure their trade.
One of these arrangements is the ‘’wrapped token’’. Because an original entity has a wrapper, it can establish a digital chain on another network. Because this chain is placed in a digital enclosure, it gets the name of the wrapped token.
A wrapped token is a token pinned to the value of another cryptocurrency. It can provide roaming on another network, and It can generate value or benefit. It is like a stable coin because it is fixed to another currency. It functions like stable fiat currencies, but we can assume that differently wrapped tokens work on a blockchain network.
NEM ( New Economy Movement), one of the most Root projects in the Blockchain world, has created its wrapped token, stXEM, which can run on the Ethereum network.
This article will try to explain how to buy stXEM and pull it into the wallet. It doesn’t have that big a challenge, but you still need to know how to do it.
First, we get a MetaMask wallet. I believe that when you type MetaMask in the Google Search line, you will find enough information. After creating your wallet securely and having enough Ethereum https://app.uniswap.org we’re going to his site. We click the Connect Your Wallet tab in the upper right corner of the screen. The innovative app will take action to connect to your wallet, and you will be asked for permission. After we say yes, we complete the wallet binding phase.
Because we have connected our wallet to Uniswap, we use our connected wallet to access the list of assets we can change by clicking on the swap section in the screen’s upper-left corner. Let’s assume that we have two Ethereums, and we want to buy stXEM using one of them. For this, we choose as ETH in the upper section. We choose stXEM as the pair we want to trade. After entering the amount of ETH we want to receive, we press the swap button. Metamask will ask you for approval for the fee required for the transaction.
When you approve the transaction, your exchange tokens will automatically appear in your wallet. If you don’t see your token on metamask, don’t panic immediately. Find the contract address of stXEM and easily add your tokens in the add token section of MetaMask. You can make it visible. After that, you can trade and lend like a standard ERC20-based token.