What is Wrapped POKT?

Wrapped POKT (wPOKT) is a tokenized version of the POKT cryptocurrency that operates on the Ethereum blockchain, adhering to the ERC-20 standard. This compliance ensures that wPOKT is fully compatible and can be integrated within Ethereum's decentralized finance (DeFi) and decentralized autonomous organization (DAO) ecosystems. wPOKT is sustained by POKT at a 1:1 ratio through a network of validators, facilitating liquidity transfers between the POKT and Ethereum networks in a decentralized manner.

Pocket Network, founded in 2017, launched its mainnet on July 28, 2020. It aims to provide decentralized RPC (Remote Procedure Call) access for developers across various blockchain platforms. Governed by a decentralized autonomous organization, the project employs a "proof-of-participation" model to ensure representation from active community members. The upcoming protocol upgrade is slated for Q1 2024, which is expected to enhance the RPC service experience for users and increase the utility of wPOKT.