Wrapped ALGOXALGO
Convert XALGO to your currency
Last Updated on Sep 28, 2025 07:59 AM
What is Wrapped ALGO?
About the coin
Wrapped ALGO (xALGO) is a token that represents ALGO on the Solana blockchain. It is fully collateralized, meaning that each xALGO token is backed by an equivalent amount of ALGO. This token is part of the Glitter Finance ecosystem, which aims to enhance cross-chain interactions.
Main features
The main feature of Wrapped ALGO is its ability to facilitate cross-chain interactions between supported blockchains. This is achieved through Glitter Finance's advanced cross-chain bridge, which allows users to move assets seamlessly across different networks. Additionally, Wrapped ALGO supports multi-chain profit optimization by enabling the redeployment of assets on integrated yield farms.
How it works
Wrapped ALGO works by locking ALGO tokens on the Algorand blockchain and issuing an equivalent amount of xALGO tokens on the Solana blockchain. This process ensures that the xALGO tokens are fully collateralized. Users can then use these tokens within the Solana ecosystem, taking advantage of its speed and low transaction costs. When users wish to convert back to ALGO, the xALGO tokens are burned, and the equivalent amount of ALGO is released back to the user.
Wallet for Wrapped ALGO
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Tangem supports networks for Wrapped ALGO
- Solana
Metrics
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Links
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Wrapped ALGO FAQ
- Owning cryptocurrency can be important for several reasons: it provides a decentralized way to store and transfer value, offers potential for investment growth, enables participation in emerging financial technologies, and can be used for secure and private transactions.
- A cryptocurrency wallet is a tool or device that allows you to store, manage, and use your cryptocurrency. It keeps your private keys secure and enables you to interact with various blockchain networks, including Bitcoin and Ethereum.
- When choosing a cryptocurrency wallet, consider factors such as security, ease of use, and cryptocurrencies supported. Also determine whether you prefer a hardware or software wallets. Research reviews and compare features to find the best option for your needs.
- Algorand (ALGO) isa cryptocurrency and blockchain platform designed to create a secure and scalable network for processing transactions and executing smart contracts.
- Algo can be used tosend and receive funds quickly and efficiently, purchase goods and services, participate in DeFi, become an Algorand Governor, and secure consensus among participation nodes.
- Wrapped Bitcoin (WBTC) is an ERC-20 token representing Bitcoin on the Ethereum network. Users can swap it 1:1 for BTC. Bitcoin has established itself as the world's largest cryptocurrency by market capitalization. WBTC tokens allow holders to participate and provide liquidity to Ethereum's thriving DeFi ecosystem.
- Algorand (algo) is a cryptocurrency that is an autonomous, distributed network of blockchains.
How to secure Wrapped ALGO with Tangem Wallet?
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Why choose Wrapped ALGO wallet with Tangem.
Private. No registration and KYC required to use the app. We don't track your data.
Secure. Your private keys are encrypted and never leave your device. Only you have control over your funds.
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Other crypto assets supported in Tangem Wallet.
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