Wrapped Mova Beta Coin

introduction we are happy to release a simple yet valuable smart contract to help retail and developers convert their mova beta coins into wrapped mova tokens which follow the erc20 standard this process is called wrapping, and many blockchains have a similar contract wrapped ether (weth) is an example of this contract the mova team have followed best practices and deployed a tried and tested smart contract for wrapping mova you can view the contract here https //mars scan movachain com/address/0x2ab4eef63de372feb96f41598b0a620a8f93efdd https //mars scan movachain com/address/0x2ab4eef63de372feb96f41598b0a620a8f93efdd?p=1 notice notice mova coin is not a real asset on the mova beta chain and is intended solely for testing purposes if you wish to use the genuine mova coin assets, please utilize the mova token bridged from the bsc chain description users can send mova to a smart contract which will lock it and return wmova to them the ratio is 1 1, meaning that one wmova token will be minted and given to the user for every mova token locked in the smart contract at any point, the user can return the wmova and thus withdraw the mova back into their wallets in essence, 1 mova will always be worth 1 wmova so why would anyone do this? most d'apps prefer not to work with the native currency of a protocol (eth or mova) as it can be quite limiting for example, when creating a liquidity pool between token one and token two, it would be easier for the developer if both tokens were erc20 and thus had the same interface instead of one being an erc20 and the other being a native token like eth or mova moreover, the erc20 standard allows for extra functionality like the transferfrom function, which enables users to preapprove other contracts to spend their funds on their behalf (often done by decentralised exchanges and other decentralised finance protocols) in the coming months, wmova will be bridged to other chains and provided as liquidity to liquidity pools in automatic market maker platforms like coinswap and pancake swap creating standards for the community secondly, by creating a mova branded portal, we are helping the community converge to a single wmova standard we recommend that developers use the contract above to ensure they use the correct wmova standard with the most liquidity otherwise, there will be multiple versions of wmova which will only fragment the liquidity and make it harder to build good defi products, hence why the foundation and vertex labs have worked together to provide a canonical contract on mainnet for developers to integrate into their products enabling standards helps the entire mova ecosystem, leading to a healthier and more vibrant ecosystem for us all to enjoy