🔒Private Wrapped Tokens

As the name implies, these tokens allow a user to transfer, swap, and bridge while preserving their privacy on Sapphire. These tokens are a center piece of the privacy preserving mechanism for IX users. How do they work? You can learn more here about the technical side.

We will cover wrapping, unwrapping, transferring and the IX wallet of private wrapped tokens in this tutorial.

Wallet

In order to view balances of your private wrapped tokens, you have to view them in your web based wallet on illuminex.xyz. The wallet is required as your native EVM wallets do not support these tokens due to their privacy functionalities. To view your balance, unwrap or transfer your tokens, you have to click on the “Unlock wallet” button and this is required to be done every 24 hours. It builds a signature proving that you are the owner of your tokens and that you have the ability to see data such as balances and assets you have in your wallet. Whenever you wrap a token into a private wrapped token, they will appear here and not in your EVM wallet.

Wrapping

To wrap new tokens, you can navigate to your wallet, and click on “wrap token” button. Choose the token you wish to wrap from the drop down menu. Ensure you have sufficient tokens in your wallet for wrapping. Your balance will be displayed above the drop down menu. Once selected, set an amount you wish to wrap, and finally click on the “Wrap” button which will first ask you to approve, confirm these transactions in your EVM wallet and then after approving the actual wrapping transaction is executed, your EVM wallet will ask you to confirm 2 times. After the transaction has been confirmed and completed, you can go back to your wallet and click on the “Unlock Wallet” button to see your private wrapped tokens. These tokens have a special “p” prefix. There are no fees for wrapping or unwrapping other than the gas fees on Sapphire.

Unwrapping

Unwrapping works very similar to wrapping, except it will do the opposite aka unwrap the private wrapped token into it’s native non wrapped form. To unwrap a token, make sure to first unlock your wallet and then proceed by selecting the asset you wish to unwrap. Click “Unwrap” and all you have to do now is set an amount and click “Unwrap token” and confirm the transaction in your EVM wallet and it will instantly be unwrapped.

Transferring private wrapped tokens

To transfer a token to another address, simply click “Transfer” next to a token in your wallet.

Transferring them is very simple, just enter an amount and an address and click the “Send” button. 



Your EVM wallet will ask you to confirm this transaction, confirm the transaction and you are done!

The tokens are sent immediately and will be received in the destination address instantly.