wrapped millix

wrapping and unwrapping millix

wrapped millix (WMLX) is an ERC-20 token. 1 WMLX = 1 million MLX.

a wrapped token is a type of cryptocurrency that represents the value of another cryptocurrency. It allows users to hold, trade, and transfer the value of a cryptocurrency that may not be natively supported by the platform they are using. wrapped millix (WMLX) allows integration of millix into the ethereum ecosystem. WMLX can be ‘unwrapped’ to redeem MLX on the millix network.

you can wrap and unwrap millix using the tangled browser and the millix client. to watch an instructional video on how to wrap and unwrap millix using the tangled browser, click here.

video: how to wrap and unwrap millix using the tangled browser

about wrapped millix (WMLX)

the millix bridge mints wrapped millix (WMLX) as an ERC-20 token from millix (MLX) for use with dApps on the ethereum blockchain.

liquidity pools and smart contracts for swapping between WMLX and USDC enabled on uniswap.

metamask functionality added as a native web3 wallet inside the tangled browser.

wmlx smart contract address:

article: the millix bridge

article: wrapped millix | the bridge agent

article: WMLX to be listed on P2B exchange

use cases

wrappedMillix can be used on the ethereum network for various use cases such as payment for goods and services, and governance.

fees

mint = the user pays the bridge fee of 10,000,000 MLX and a millix network fee of 1,000 MLX, the bridge pays the ETH fee.

burn = the user pays the bridge fee of approximately $1 in ETH (calculated and updated daily) and a millix network fee of 1,000,000 millix

smart contract security

The security of the Wrapped Millix smart contract is of utmost importance. If you have any security concerns, please contact developer@millix.com. The Wrapped Millix smart contract audit was completed by Hacken on March 1, 2023.

article: smart contract audit by hacken

contract features

the millix road map consisted of the following themes:

• ownable: the smart contract is ownable, meaning that only the owner can perform certain actions such as minting tokens, setting burn fees, and setting the vesting state of addresses. the millix foundation is the owner of the smart contract.

• pausable: the smart contract has a pausable feature, which allows the owner to pause and unpause the contract as needed.

• IMillixBridge: the smart contract implements the IMillixBridge interface, which provides the ability to unwrap Millix tokens and emit events when tokens are unwrapped or minted.

• max supply: the maximum supply of wrapped millix tokens is set to 9 * 10^15.

• burn fees: the smart contract has a burn fee mechanism in place, which requires a minimum transaction value to be sent in order to unwrap Millix tokens. The burn fee can be set by the owner.

• vesting: the smart contract keeps track of vesting addresses, which are addresses that are not allowed to transfer tokens. The vesting state of an address can be set by the owner.

• minting: the owner can mint wrapped millix tokens and specify the recipient address and the amount. the minting function also emits a mint wrapped millix event.

• unwrap: the smart contract provides a function to unwrap Millix tokens by sending a minimum transaction value and specifying the destination address on the Millix network. The unwrap function also emits an unwrap millix event.

github: millix bridge contract