What is Wrapped Kadena?
First of all, we need to know a little about Kadena itself.
To help us with this ambitious project with Kadena, we joined forces with Wrapped.
A core initiative of the Kadena team is to connect the network to multiple assets & chains throughout the cryptocurrency space. This is the core idea behind Wrapped Kadena. wKDA opens up access to the Ethereum blockchain and the world of DeFi, and increases exposure for KDA on a massive scale, via its “wrapped” form. Wrapped Kadena is backed 1:1 by its underlying asset, KDA.
Because of our close partnership with Kadena, Coinmetro is proud to be the only platform in the world where you can swap your KDA directly for wKDA, and vice versa! Therefore, Coinmetro is the bridge between Kadena and the ecosystem of decentralized finance on the Ethereum blockchain. This process is quick & easy - you can swap for wKDA straight from your Coinmetro Dashboard using the Swap Widget on both the Coinmetro website and mobile app.
You can also find lots of information about Kadena on the official Coinmetro blog here.
How to Buy wKDA at Coinmetro
wKDA can be acquired only by swapping KDA using the Dashboard Swap Widget.
How To Deposit wKDA Into Your Coinmetro Account
If you're depositing from another exchange, it is important to ensure they support sending funds to ETH contracts, or use a full ETH wallet as an intermediary.
Note: As Coinmetro uses smart contracts for Ethereum and ERC-20 token deposits, the amount of gas required is slightly higher than a typical transfer. To be sure that your transaction is successful, please set the transaction gas limit to 55,000 for ETH. The fee difference is minimal. If your gas limit is too low, the transaction will simply be rejected by the Ethereum network. There is no risk for loss of assets caused by a too low gas limit.
How To Withdraw wKDA From Your Coinmetro Account
Important Note - To request a withdrawal, your account profile needs to be verified as well as having the funds to cover your withdrawal. The first time a withdrawal is made to a destination, the destination needs to be verified via e-mail. If you have 2-Factor Authentication enabled for withdrawals, you will be asked to input the code for each withdrawal, approved or not. We suggest enabling 2-Factor Authentication to protect your account.
Withdrawals waiting for approval can be canceled and withdrawal status can be found by selecting the wallet on the GO! Dashboard. Approved withdrawals cannot be canceled. If there is no Cancel button, there should be a transaction ID (TXID). This is a link to the relevant tx hash (Transaction Hash) on a blockchain explorer website.
Important note - wKDA is an ERC20 token supported on the Ethereum blockchain, so please ensure you withdraw to an ERC20 wallet address. If you are withdrawing to an external wallet such as MetaMask, please ensure that you have added wKDA as a custom token on the wallet.