Can anyone explain where these Polygon native CEL tokens come

Question

Can anyone explain where these Polygon native CEL tokens come

from? Are ERC20 CEL tokens converted into them? https://polygonscan.com/token/0xd85d1e945766fea5eda9103f918bd915fbca63e6

0

03.03.2022

4 ответов

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Brad © Автор вопроса

Kristian
The real tokens are held here: https://etherscan....

Oh so the ERC20s are wrapped up/locked?

0

03.03.2022

Kristian

Brad ©
Oh so the ERC20s are wrapped up/locked?

The ERC20 tokens are locked in the bridge contract on Ethereum, and then the bridge issues 1 token on Polygon for every token locked. Then to bridge back the Polygon token is burned and the real (ERC20) token on Ethereum is unlocked from the bridge contract. This is generally how all bridges work. And is also in a way similar to the concept of stablecoins, where 1 USD is locked to mint 1 stablecoin, kind of like a bridge between traditional finance and crypto, and then to bridge back you can burn the stablecoin and redeem the real USD.

0

03.03.2022

Kristian
The ERC20 tokens are locked in the bridge contract...

Thanks so much for explaining this. This makes so much more sense now.

0

03.03.2022

Kristian · Accepted Answer

Kristian

The real tokens are held here: https://etherscan.io/address/0x40ec5b33f54e0e8a33a975908c5ba1c14e5bbbdf

0

03.03.2022

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Can anyone explain where these Polygon native CEL tokens come

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