Hey, everybody. This is Grant. Many of you have been asking in the discord and some patrons have been asking how do I wrap an unwrap memo and how does my money grow? And if you really get skittish, how do you unwrap and take that money back? We're going to answer those questions in more in today's video about wrapping them on unwraping remote in the wonderland time ecosystem. So I'm super excited. Now, if you get any benefit of this, consider liking or subscribing, join our discord or even consider becoming a patron. We've got a few spots available on the Patreon where you can actually get early access to our own investment projects. Let's talk about what is wrapping, what is wrapping memo, how do I wrap an unwrap memo to increase my profits on the wonderland time system. Let's talk about it. So first, what is wrapping? Before we get into this at all, you've got to understand what wrapping is because so many of you are doing this and not even understanding what it is to wrap an unwrap any crypto token. So in general, think of it like this. Think about Bitcoin, for example, Bitcoin has one use. It's on the Bitcoin blockchain and it's made for currency. Let's say, for example, a big institution wanted to actually create smart contracts around Bitcoin. Let's say they wanted to take their millions of dollars of Bitcoin and actually use it for investment projects or set it up so that other people could invest in smart contract. Things would happen like earning interest rates or lending against it. How could somebody do this? This is where wrapped Bitcoin came along. Wrapped Bitcoin was another token that was pegged to when someone staked a Bitcoin and minted a wrapped bit. Those two addresses connected and talked and then someone could do other things with wrap Bitcoin. Bitcoin exists on the Bitcoin blockchain. Wrap Bitcoin exists on the ERC blockchain and you could do lots of things that like smart contract things on the ERC blockchain. So now someone could take the wrapped Bitcoin attached to their Bitcoin and actually invest it and stake it. Let's actually look at that real quick. So right now we're on coin market cap and if you see right here number 15 is wrapped Bitcoin. There's only 200,000 wrapped Bitcoin, but we know that there's a lot more Bitcoin in the world. What gives basically what it's saying is that only 200,000 people have gone to the wrap Bitcoin network and actually minted that much wrapped Bitcoin. Now if you notice, Bitcoin's at about 57,000 and wrap Bitcoin is not exactly close. The mechanics aren't always perfect, but the idea is that this wrap Bitcoin is attached to an anchor to a one for one ratio with other Bitcoin. Now this is the concept behind wrapping. So in short, wrapping is when you actually take a token that might be limited on its existing blockchain. You're basically buying and swapping for a new token and we in name that token wrapped X Y and Z wrapped Bitcoin or wrap memo so that you can go ahead and use it on other blockchains for other advantages like lending or borrowing. But the advantage here is that because the new coin has a smart contract, it can take the contract address you had of your original Bitcoin or memories or memo. And it can remember that your address is attached to that. So then you can then take the new wrapped memo or wrap Bitcoin and move it around anywhere else that the smart contracts allow. This is the idea behind wrapping in general. You can take a crypto that's limited to its current blockchain and use it on other blockchains for other DeFi project. This is what's going on with memo and memories on the Wonderland project. In Wonderland, you stake your time. You basically put your time up and stake it so that it can grow and compound on the Wonderland time network. It's just sitner and someone came along and said, what if we gave people the ability to borrow MIM or to do crypto loans or other DeFi projects? We've promised to give them an interest rate. Why not let them do other things with it? Now, some people think the main advantage of wrapping memories is taxes. And I want to speak to taxes very briefly. Taxes have yet to be proven in enough tax cycles as to whether or not wrapping and unwrapping memories helps. The jury is out regarding if wrapping memo preserves you from having to track all of your rebases with Wonderland time. We understand a lot of you believe that's the case. We haven't heard from enough tax lawyers at least in the spark nation to believe that's actually the case. But what you do get to do is you get to take your wrapped memo and borrow from time or do other DeFi projects with it. So that's the advantage as far as we can tell. It incentivizes you to leave your money staked in Wonderland time. The more your money is staked in Wonderland time, the more Wonderland time is going to grow. And as a result, you can then take your increased earnings, wrap them and go do other projects with them while you're helping the Wonderland time ecosystem grow. So we believe that's kind of how it benefits the Wonderland time system. So how do you wrap memories? Let's actually look real quick. So here we are on the Wonderland system. We've got our Metamask wallet connected. And of course, as we should be doing, we're staking. As of the time of this video, Wonderland is going for about 7200 to Diplos 7000 over the weekend. But we've got a good runway going right now. We've got a good amount of time back per time. This actually has gone up significantly, which is huge. So it looks like a lot more people are minting or staking, which is fantastic. If you're familiar with Wonderland and all you're familiar with what these numbers are, but grant, why is this number so low? Why? I thought you were investing a lot more than this. Let's actually look and follow me and we're going to actually show you my wrapped memo doesn't appear here just my memo. But my wrap memo is still growing. Let's take a look. So here we are in Abercadaver.money. And to wrap your memo, simply go to borrow. And then for me, we're talking about memo. You can actually wrap a lot of other things. We're not going to cover that here right now. I'm going to wrap memo because it's got the best interest rate that we're looking at. If we were to borrow, there's a lot going on here in my open positions. And you can say, I don't have any open positions because this is all about borrowing. And it looks like you can deposit your wrapped memo and borrow a mim. If you could borrow a mim, you can do a lot of DeFi projects on. And some people are doing this quite a bit. Now, I personally am not doing much borrowing. But if you click over here to wrap, you can see that this is my balance from Wonderland time. So there's my memo. So right now, I could wrap. Let's do max. I could wrap this amount and it would give me this much wrapped memo. And then what would happen is my balance in Metamask of my memory would go to zero. What happened? Did I spend it? Well, in some ways, it's kind of like spending in a swap. It's kind of like your money goes away and in exchange, it's kind of a trading Bitcoin for Ethereum. My Bitcoin disappears and my Ethereum appears. It's kind of like that, but not really because it's wrapped. And remember what I said, the wrapped memo is attached to the address. So even though my memo goes to zero, my wrapped memo would go up by that amount. Now, Graham, how can I be certain of this? Let's take a look. Let's see if we reverse the direction because I have wrapped memo as I told you. And I want to point some things out. You don't see my wrapped memo here. So how can I know? We're going to cover that in a second. So if I actually swap this way, my balance changed from 0.0004 or whatever it was, let's look. 0.00046, it is actually 0.00096, not of memo, but of wrapped memo. And if I click max, you can see it's 0.0009555 of wrapped memo. And if I exchange that now becomes 0.188 memo. So again, I've got 0.00046 memo here, but in the value of wrapped memo, I have 0.18. I started with 0.14 just about a week ago. And this is the value of the compounding. So when you wrap your memo, it still grows. The rebases are happening over on wonderland time. The rebases are still happening. And instead of seeing three rebases a day right here with wonderland time, the value of it just grows so that when I've gone in, I've gone in with 0.12 or 0.14, whatever it was. And then it has now grown to 0.18. And then I could even wrap more memo. So you can reverse the direction of how these things go. So the question is, how do I wrap my memo? Once again, you go to abracadabra.money, you go to borrow, you go to wrap, it brings up this little dialogue box. And it is showing you the balance of your memo. And you could click max or whatever. And then wrap it. Or in the case of what I'm doing, if you switch it, it will show you your wrapped memo. So how do I unwrap memo? You basically go to the same thing, go to abracadabra.money, go to borrow, go to wrap. And it'll show you memo first, reverse the direction. It will then show you your balance of wrapped memo. And simply click the amount you want to unwrap and click unwrap. I'm going to leave it because I'm fine with where it's at. Yes, it is very satisfying. To be over here on Wonderland and watch that memo and the next reward amount go up every single time. That's super exciting. It's very awesome to watch that grow and grow. But I'm going to leave it over here for now because I'm experimenting and exploring with different ways to utilize my wrapped memo to invest in other ways. So right now, I've just been having it sit because I was listening to the people that were talking about the tax benefits. I'm not so convinced that I actually get that many tax benefits from wrapping my memo. But there are defy benefits to wrapping memo. So I'm going to leave it right there. So that, my friends, is how you wrap and unwrap memo. That's why anyone would wrap memo. That's how you wrap memo. And if you have any further questions, please ask in the comments below. We're here, but I really encourage you. Like the video if you've gotten anything out of the video, subscribe to the channel if you want to see more videos like this. And us breaking down the crypto universe and defy and what's going on. If you want to buy alerts, our watch lists early access to our NFT projects are token projects or dows. Consider becoming a patron. And remember, why are we doing any of this? We're doing it to help you create the time freedom, the mental freedom and the financial freedom. You need to go live out your highest self. Remember the mission of state of the spark. Igniting lives of explosive significance, starting with your own. Have a great day.