Tokens on Ferro
Ferro runs on the Cronos blockchain, which supports two types of tokens:
- 1.Native CRO tokens for transaction fees
- You will need CRO tokens to pay all the transaction fees (gas) on Ferro and other applications in the Cronos ecosystem
- 2.CRC-20 tokens for trading and forming pool pairs
- CRC-20 is a token protocol closely resembling Ethereum's ERC-20 for interoperability
- Except for Native CRO, all other tokens are CRC-20 tokens
- Tokens native to other blockchains are wrapped into CRC-20 tokens (eg. WBTC, USDC, ETH) to be operable on the Cronos blockchain
- Both $FER and $xFER in our protocol are CRC-20 tokens
Liquidity Pool Pairs need to be formed by 2 or more CRC-20 tokens.
Some liquidity pool pairs may involve CRO, such as our LCRO-CRO pool in collaboration with Veno Finance. In this case, users will still be able to interact with the pool using CRO directly, as our protocol will wrap to WCRO/unwrap from WCRO for our users:
- Add liquidity: The deposited CRO will be wrapped into WCRO and added to the pool.
- Remove liquidity: WCRO will be withdrawn from the pool and unwrapped into CRO before depositing in your wallet
- Swap: Swapping between LCRO and CRO will involve wrapping/unwrapping before the swapping is executed.