Wrapped XTZ
WXTZ
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
WXTZ (Wrapped XTZ) functions as a multi-chain wrapped representation of Tezos across networks including Ethereum, Arbitrum, Base, Etherlink, and BNB Chain. While the token maintains an elastic supply tracking underlying XTZ without vesting overhang, the asset exhibits significant structural drawbacks. Public development has been inactive since 2021 with zero recent GitHub commits or package releases. Dedicated community engagement is nonexistent as social presence defers entirely to Tezos. Furthermore, WXTZ experiences near-zero secondary trading volume, lacks public smart contract audit documentation, and depends on centralized multi-sig governance and bridge custody arrangements. No qualifying red-flag incidents or fraudulent activities were identified.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Wrapped XTZ (WXTZ)
Wrapped XTZ (WXTZ) is a multi-chain wrapped derivative of the Tezos network's native token, XTZ. Originally developed in 2020 through a collaboration between StakerDAO and Stove Labs, the token was created to enable cross-chain liquidity and composability for Tezos across EVM environments. WXTZ is deployed across multiple blockchain networks, including Ethereum, Arbitrum One, Base, BNB Smart Chain, and Etherlink.
The token functions through an elastic supply mechanism where the circulating supply expands and contracts in direct correspondence with deposits and redemptions of underlying XTZ. Its primary use case is purely derivative, serving as an asset representation for decentralized finance applications outside the native Tezos blockchain.
While WXTZ remains active on multiple networks, it exhibits several operational and structural risks. Public software development has been largely dormant since 2021, with no recent commits or releases in its primary repositories. The asset faces severe liquidity constraints characterized by near-zero daily secondary trading volumes. Additionally, no formal smart contract audit documentation is publicly available for the wrapper contracts. The system relies on centralized multi-sig governance and bridge custody of underlying XTZ, which introduces counterparty and bridge risks across its supported networks.