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Wrapping pFIL into wpFIL

pFIL is a rebasable token

The amount of pFIL on your balance is not constant - it changes as rewards are distributed, resulting in what is known as a rebasable token.

wpFIL is a wrapped version of pFIL

When you wrap pFIL you will obtain a corresponding amount of wpFIL. The amount of wpFIL obtained from the wrapping corresponds to the amount of underlying shares of your pFIL.

Your wpFIL balance WILL NOT change as rewards are distributed. However, as rewards are distributed, the value of each pFIL share (wpFIL) increases. As a result, upon unwrapping wpFIL, you will receive a larger amount of pFIL than you had originally wrapped.

Here is an example:

  • You wrap 100 pFIL to 99.87 wpFIL.
  • You continue to get rewards on your wpFIL.
  • When you unwrap your wpFIL, you receive 101 pFIL
  • You can head over to the Repl wrap page to wrap your desired amounts of pFIL or FIL into wpFIL.

Why the need for wpFIL?

Although pFIL’s rebasing mechanism allows a constant change in balance to reflect rewards, most DeFi liquidity pools require a constant balance mechanism for tokens.

Wrapping pFIL into wpFIL allows users to deposit their wpFIL into liquidity pools, earning LP rewards on top of the pFIL rewards. Thus wpFIL allows a seamless integration into the popular DeFi protocols within the Filecoin ecosystem