Wrapped Callisto (ccCLO)
Callisto Network’s main objective is to improve the blockchain’s ecosystem security. Since 2018 we have contributed to enhancing Ethereum, Ethereum Classic, EOS and have conducted over 350 smart contracts audits, making us the leader of the crypto-security industry.
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Smart Contract Audits Companies Comparison (Coin98 Analytics 09/20)
Clo is the native coin of the Callisto Network blockchain, so it’s necessary to hold CLO to use the features of the Callisto ecosystem and to pay the transactions fees.
Below are the main features of the Callisto Network ecosystem:
- Smart Contract Audits
- Smart Contract Migration
- Cold Staking
- CryptoBot Wallet
- Soy Finance
- Callisto Bridge
On the way to come:
- Immortal Lottery
- Cyborg league (NFT video game)
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Wrapped Callisto (ccCLO) is a token tied to Callisto coin (CLO).
In short, ccCLO represents the Callisto coin on other blockchains, which means that for each “ccCLO” a “CLO” coin on the Callisto Network is reserved and thus their value is equal.
With the ccCLO tokens, users can move and use Callisto coin as an asset between blockchains without being restricted to the Callisto Network blockchain, which in turn results in increasing the Callisto coin liquidity and usability.
In other words, you can now use your Callisto coin (CLO) on other chains.
This opens up the Callisto coin’s frontiers and allows it to be exchanged with any cryptocurrency on decentralized exchanges such as PancakeSwap, and eventually used in yield farming applications.
This is where the Callisto Bridge comes in!
Similar to an exchange, the Callisto Bridge allows you to convert your Callisto coins (CLO) from the Callisto Network chain to wrapped Callisto (ccCLO) tokens on one of the supported blockchains and vice versa.
The wrapped CLO coins on the Callisto Network blockchain are reserved in a smart contract to create their corresponding ccCLO tokens on any other blockchain.
When a user wants to unwrap his/her ccCLO tokens, these tokens are burned, and the equivalent amount of CLO coins is unlocked on the Callisto Network blockchain.
The ccCLO token is currently deployed on Binance Smart Chain and Ethereum chain under the following contract address:
Note: The wrapping/unwrapping process involves paying gas fees. It is, therefore, necessary to own the destination blockchain’s native coins to cover these fees (ETH for Ethereum, BNB for Binance Smart Chain).