Watt token specification

What are Watt assets from technical perspective?

• Watt assets are SPL tokens utilizing the Token-2022 transfer fee extension.

• Each token includes a built-in fee structure (see the Fee structure section for more information).

• Only traditional SPL tokens without extensions can be wrapped.

• Wrapping mints new Watt tokens.

• Unwrapping burns existing Watt tokens.

• Yield accrues via the burning of Watt assets. This mechanism increases the ratio of original tokens to Watt tokens during wrap and unwrap actions (see Token ratio section).