GoByte is taking its wrapped GBX project forward. It has finally entered the DeFi network. The wGBX will now be available on the Binance Smart Chain. It will operate through a two-way bridge that will both wrap and unwrap between the GBX on GoByte’s Mainnet and the wGBX on Binance.
The wGBX and the bridge between wGBX and GBX have been developed by GoByte with the help of its partnership with the team at Wrapping.services. Wrapping.services is like a centralized exchange and it has already worked successfully with many cryptos to develop wrapped token services. Wrapping.services is a centralized service and there are risks of working with them, and GoByte has maintained complete transparency about this aspect of its partnership of Wrapping.services.
wGBX has already been listed on the Yield Field DEX. It will also be available in the form of the wGBX and BUSD pairing. This pairing can be used by liquidity providers and for trading.
Liquidity providers will also have the chance to earn extra rewards by yield farming wGBX. This has been done by adding wGBX to the yieldfields.finance on Yield Field. GoByte hopes that these services will attract more traders towards their wGBX on Binance and make it an important player in the DeFi network.
The launch of wGBX on the Binance Smart Chain is GoByte’s first successful attempt at the wrapped GBX’s entry into the DeFi framework. It hopes to introduce more such steps in the future to fully integrate wGBX into the DeFi ecosystem.
Wrapping.services and GoByte have had a very successful partnership till now and depending on the customer reception of their wGBX service on Binance Smart Chain, GoByte is expected to expand its services even further very soon. Till now, all indications point towards GoByte going ahead with its plan for the wrapped GBX project.