Does anyone know if there are examples of wrapped DOT or other Substrate chain coins on high-traffic, low-cost networks such as Solana or similar?
I’ve been searching the Web for existing examples and can’t find anything.
The reason I ask is transaction fees on some of those networks are very low and it appears some DEXes have a solution for crowdsourcing liquidity, so once a wrapped coin becomes available, community participants can provide liquidity if they wish, making this a low-maintenance solution for the contract issuer. At least that’s how I understand it.
If that’s the case then a template for wrapping a Polkadot SDK token on (say) Solana would be a one-time effort across the ecosystem and require no follow up or resources from Polkadot.
Disclosure: I own some Solana tokens, but I don’t care that it be Solana. I bought it recently because I realized that among half a dozen networks I could use to transfer wrapped assets, Solana fees are 30-80% less than any other network. But I wouldn’t mind using wrapped Polkadot SDK tokens on any other network with similar characteristics. Some other networks are 30% more expensive than Solana, but even after that still 60% less than Ethereum and therefore still a big improvement.