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One of Spicyswap’s most unique features is that it uses WTZ to handle all XTZ pairs. WTZ is a wrapped version of Tez. With WTZ, Tez is effectively turned into an FA2 token which makes using XTZ in Tezos DeFi much easier. By utilizing WTZ, users who put their XTZ into Spicyswap liquidity pools can accrue staking rewards on their Tez, redeemed upon removing liquidity and converting any WTZ back into XTZ.

Wrapping Behind the Scenes#

But even though Spicyswap handles XTZ pairs with WTZ, users always have the option to select XTZ to conduct their swaps/adding liquidity. In doing so, users may notice a note below the XTZ ticker that says “via WTZ”. This means that behind the scenes Spicyswap is routing your XTZ through the WTZ contract to make user experience easier. Thanks to the WTZ router Spicyswap utilizes, users don't even have to think about WTZ if they prefer not to!

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Manual Wrapping/Unwrapping#

If for any reason you wish to manually wrap XTZ or unwrap WTZ, simply select the 'Wrap XTZ to WTZ' or 'Unwrap WTZ to XTZ' button above the swap bar.

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