Introducing sVAULT: the 1:1 GLDT Wrapper sGLDT i2s4q-syaaa-aaaan-qz4sq-cai
sVAULT (sVAULT.app) is a frontend icrc1234 compliant canister which allows a user to mint sGLDT, a 1:1 redeemable wrapper for GLDT.
GLDT ledger fee: .10
sGLDT ledger fee: .00001
sGLDT is readily convertible back to gldt via the apps front end or via the canister api.
USECASE: sGLDT is designed to let users and daos take advantage of the intrinsic value of GLDT by removing the 11c fee for each tx. This enables GLDT to be easily incorporated into algorithmic or high frequency trading, and to be integrated into existing applications. Previously, users at @icsneed had grave difficulties incorporating GLDT into its trade patterns, and the large tx fee dissuaded some other applications on the ic from incorporating. The solution was to release this 1:1 wrapper.
In the coming days, sGLDT’s canister will be registered to Sneed Dao to ensure security.
The application is currently open source.