“because reasons” lol ok. I would really like to h... @MadFishCommunity

The team felt that the existing WTZ Fa2 1:1 wrapped tez didn't work for them because of the 0.1% fee on withdrawal, the fact that it doesn't have an oracle, and the fact that it isn't just a 1 to 1 wrapped token like WETH on Ethereum. This makes it difficult to use for protocols such as money markets. The team is looking into whitelisting a contract to circumvent the fee, and is also looking into using Ubinetic, Harbinger, and an on-chain oracle for cTez. However, they are also considering the possibility of simply DIYing the token, as it is only used on the platform and won't really mess with the market. This is because the nature of WTZ is a little bit different from WETH, as it works more similarly to a fund with shares, and also has the 0.1% fee on withdrawal. It is important to have open conversations about the basic building blocks that we're all going to need for years to come, as interoperability is key in DeFi. By discussing the pros and cons of different solutions, we can ensure that we are making the best decisions for our projects.

No you’re right. Got it.

@codecrafting mentioned that a contract could be whitelisted to circumvent the fee. The team might want to consider this, if that is indeed the straw breaking the camels back in this case.

Oracles provide off chain data to the chain. WTZ data is all on chain. Now I’m the one playing semantics. To the point, we’re adding on chain views to get at this data.

We use Ubinetic, Harbinger and some onchain oracle for cTez (but I could be wrong for the last one)

Who is competing with "WETH" on Ethereum? That's essentially WTZ with a couple caveats. It does what it says it should do which is keep a tight 1:1 swap ratio while providing baking rewards.

Thats a weak argument when its open source and afaik WTZ is open sourced? @codecrafting

The dealbreaker seems to be the 0,1% fee on withdrawal here

The age old oracle problem. I can see why the no of assets is not really big, can understand. What oracles are you using? Ubinetic?

WTZ doesn`t need oracle, Yupana need oracle for the price feed🤷

ctez is great but it's not maintained by us. Who knows what can happen? Always better to DIY. Especially given it's a technical token only used on the platform and it won't really mess with the market.

We're not trying to compete with other wrapped tez solutions. It's just an under the hood token, not going anywhere else. But it's more convenient that way.

It's not wholly true. The nature of WTZ is a little bit different from the "WETH": - Firstly, it isn't just 1 to 1 wrapped token. So it works more similarly to fund with shares. - The second thing is WTZ has a 0,1% fee on withdrawal. It is too much for protocols such as money markets. - Third thing is WTZ just doesn't have an oracle for now. So for now it is much more efforts to add WTZ to the Yupana.

you guys could have just had a simple conversation with us. Again the whole we gotta stop living in our own little bubbles, especially when it comes to basic building blocks that we’re all gonna need for years to come. I’m not entirely sure what you mean by Oracle for WTZ, it needs no “oracle”. But the next update/migration of it happening very soon will add some on chain views that will make interopability with it easier, such as an on chain view to get the current ratio.