Ethereum Classic Gets DeFi Treatment With Wrapped ETC

[sneakyboi]

Ethereum Classic Gets DeFi Treatment With Wrapped ETC

Ethereum Classic wants to play in the decentralized finance (DeFi) space of the blockchain it contentiously split from in 2016.

Announced Wednesday, Ethereum Classic Labs, the ETC blockchain’s biggest supporter, released Wrapped ETC (WETC) – an ERC-20 token that lets ETC holders participate in Ethereum-based DeFi services like trading, lending and borrowing.

“We wanted to make sure ETC could go to a different ecosystem and use different applications on top of that ecosystem,” said James Wo, founder and chairman of ETC Labs. “I expect at least 10% of ETC holders will want to participate and use WETC.”

Learn more about the news here.