What do you think of the impact of ERC20 Converter in Gaugen Era. What sort of impact will it have in 2021?
I see it has a great oppurtunity. Really looking forward to see how it develops further.
Looks like even ERC20 holders will be able to ‘swap’ their tokens. Of course you might want to do something with those assets on Cardano, so an entire ‘defi’ ecosystem has to be built in order to make out the most of this idea.
Not sure yet how it will technically works, maybe locking ERC20 tokens in an Ethereum smart contract in a similar fashion to BTC/wBTC, and most importantly whether will be then possible to swap back ada tokens to their original ERC20 counterpart
Thanks for your feedback.
I think the same, this will be a game changer but we have to see how it works in real world.
Hope this will give more insight - from IOHK
does the conversion process need a custodial service like the WrappedBTC etc, and will it need KYC?