Ethereum Classic Course: 16. What Is WETC?

Wrapped ETC or WETC, which goes by the symbol $WETC in the market, is an ERC-20 token that is convertible into ETC and vice versa.

To create new $WETC users need to send $ETC into a smart contract and the smart contract will return $WETC to their account.

For example, if a user sends 100 $ETC to the Wrapped ETC smart contract, then it will return 100 $WETC to the user’s account.

Whenever users wish to transform their $WETC back into $ETC, they can send their $WETC to the smart contract and it will return $ETC to their account.

For example, if a user sends 100 $WETC to the Wrapped ETC smart contract, then it will return 100 $ETC to the user’s account.

To learn more about ETC please go here: https://ethereumclassic.org