No one here is trying to decide what and how it should run on Tezos, we’re arguing at the fact that it’s not running on Tezos at all.
1 Like
Wrapped Tezos will run on both Tezos and Ethereum
Wrapped Tezos (wXTZ) would be an ERC20 token, so same as for any other Ethereum-built token, it will be running on the Ethereum network. Further reinforcing Ethereum’s existing network effect
Sorry I thought you read the article you were commenting on, but here is a reminder:
You do understand that ERC20 simply doesn’t run on Tezos, right? The main purpose of wXTZ would be to bring liquidity to Ethereum not the other way around. They can mask it however they want, those are the facts. For when using XTZ on Tezos you simply need XTZ and not some wrapped IOU token
1 Like
that’s the right way. sounds great. absorb them all
The wXTZ token will be ERC20 on Ethereum and FA2 on Tezos.
“Jonas’s comment”
The wXTZs produced by the vault contract will be FA2 tokens. They will appear in the users vault (KT1 address) and can be moved freely across the Tezos ecosystem. Hopefully Dexter and Quipuswap will be live by the time wXTZ launches, as anyone could then create pairs there with other Tezos assets. With this model, the value of wXTZ stays on Tezos.
3 Likes
Again i feel like we’re going in circles with this. So I’ll just leave it at this…ask yourself why do we need Tezos IOUs running on Tezos? The main reason you can find is to use it on Ethereum. And why should Tezos aim to provide liquidity for another chain? Having wXTZ on Tezos doesn’t add more value, it simply keeps it on the same level. If they were building wETH or other wrapped tokens on a FA standard to bridge into Tezos this would be a completely different story
2 Likes
So the reason we want wXTZ is to make life easier for devs to build smart contracts. wETH was created not to move it to other chains (although that could be done) but to make building smart contracts easier. If we write a defi contract and you want the user to be able use tokens and native XTZ you have to write it twice, once for native and once for tokens. Native XTZ does not following the FA2 standard (would be nice it if did but maybe for future version of Tezos) and with the cost of writing smart contract code, auditing and testing you definitely don’t want to do it twice! So Ethereum solved the problem by wrapping ether in a ERC20 token and then only writing the contract once.
When Ethereum is currently generating almost 1m USD an hour in fees and Tezos generates 10c then there is a major opportunity and Jonas and his team can see that. Also Ethereum devs want to move stuff off their chain and so if we provide the tools they will probably help us and it’s a win win for everyone. Ethereum has the choice of many chains so it is up to us to make ours the most attractive. There is a 1M an hour opportunity in fees and I find it hard that we are not all over it. Building the building blocks for Tezos is the way forward and it starts with projects like this.
Hope that makes sense
4 Likes
“StakerBridge” as a feature to wrap a token from eth to xtz (and so also the other way around) was a request from the community as I remember written here in the Agora. This request has been made when the decision was announced to build BLND on ethereum. This promise was an appreciation of the efforts of the Tezos community to bring the ecosystem on a level so that BLND can be properly used on Tezos as well - which was apparently not the case at the time.
Should this bridge now have a “forbidden usecase” - as wrapping coins on Tezos is ok (wBTC) but out of fear the other way around gets shamed?
2 Likes
You do understand that if someone did that then it would take a few minutes for good developer to do it with wXTZ? So my point is write the code and let the community decide what is useful. You seem to think that Tezos can censor code being written for wETH but not wXTZ? It’s the same code and Tezos is a decentralised system so what you are saying makes no sense. You can’t stop someone from changing the code, that is the whole point.
1 Like
Couldn’t put it better myself 
I’m guessing not everyone is a developer so I don’t like to assume the obvious.
1 Like
Sorry, this statement is nonsense. We are arguing what makes sense for Tezos and what not. Everybody here wants the best for Tezos. Some seem to be more interested in short term gains instead the success of Tezos.
Read the initial post again @tezbaker:
The CURRENT state of DeFi on Tezos lacks components that are critical to ecosystem development.
I personally can wait until this “current” is over. I don’t need uncooked fish.
Just think about how a Voting about this wXTZ would end (if we could vote about it) !?
5 Likes
I agree. Majority care about the project not the gains 
2 Likes
I can completely understand Arthur’s view. After all, if he is not aTezos maximalist, then who is? On the other hand, I can understand the other side as well, nicely summarised by @jcw000. Also, if currently there is no plan to do to Eth to Tezos bridge but the code is open source, then anybody can fork it and offer that as an option with very little coding to be done as StakerDao will have done the heavy lifting. I welcome developments that happen exclusively on Tezos but am personally not too worried about a wrapped Tezos on Ethereum. (How much damage did wrapped BTC do to BTC?) I am confident about Tezos’ future and tend to agree that, rather than harm, can (and likely will) create interest in Tezos in the Ethereum community - i.e. it will create a net-benefit for Tezos. Of course, opinions diverge but let’s see what the market decides after the next few months, when many more tools will have entered the Tezos ecosystem. I personally, am optimistic and excited about it.
4 Likes
That is the beautiful thing we can do exactly that by letting the market decide. If it’s not useful it will die on its own accord.
2 Likes
True, but he came here and asked for feedback from the Tezos Community. That’s all we are doing.
5 Likes
I think it’s a great idea that XTZ is being ported to Ethereum.
We don’t have to see this as zero-sum. It’s a net positive for all. Consider that Apple releasing iTunes compatible with Windows. It allows the users of the other ecosystem to understand something about Tezos. The considerable interactions that users and developers on Ethereum can have with Tezos is exciting.
We can still focus on building for Tezos primitives. The narrative that Tezos must overcome Ethereum isn’t necessary at this point. Tezos has to be Tezos, not trying to be a killer of Ethereum. What Tezos does well I believe is simplifying all the innovations on other protocols and blending it to make an incredible user experience is really in the DNA of Tezos. No other protocol made it easier to stake like Tezos.
2 Likes
Read above! “At this stage, this will only harm Tezos!.
Key word to take away here is “at this stage”!
3 Likes
People have their own opinion. This is a place where the community can discuss what’s happening in the Tezos ecosystem. There is no need to quote/rephrase opinions without adding value. Also, no opinion is superior to others. As you probably know - there is no leader.
3 Likes
