Wrapped Callisto Network Coin (ccCLO)
What is Callisto Network?
Callisto Network, emerging from the collaborative roots of Ethereum and Ethereum Classic, has positioned itself distinctively in the blockchain sector, focusing on decentralization and security. Since its inception, the network diverged from conventional models by initiating its journey with an airdrop to Ethereum Classic community members, avoiding the traditional ICO path. This approach underlined Callisto Network’s dedication to equitable coin distribution and set the foundation for a blockchain that is controlled broadly rather than centrally.
Adhering to the foundational values of blockchain technology as envisioned by Satoshi Nakamoto, Callisto Network emphasizes the importance of a decentralized structure. The network’s operations, from its decentralized treasury management to the implementation of its governance model, reflect a commitment to these principles.
Through its “Philosophy of Decentralization,” Callisto Network aims to be a democratic, secure, and scalable tool for all. This strategy represents a conscious effort to stay true to the ethos of blockchain as a democratized financial tool and stands as a counter-narrative to the increasing centralization seen in other blockchain projects.
What is Wrapped Callisto (ccCLO)?
Wrapped Callisto (ccCLO) is an innovative solution in the Callisto Network ecosystem, functioning as a bridge for the native Callisto Network coin (CLO) across different blockchain platforms. Essentially, ccCLO is a tokenized version of CLO that maintains a one-to-one value ratio, meaning for each ccCLO token, there is an equivalent CLO coin reserved within the Callisto Network.
This functionality significantly enhances the flexibility and liquidity of CLO, enabling it to transcend the limits of its native blockchain. Users can now leverage the value of their Callisto coins across various blockchain environments, facilitating transactions and interactions with a broader range of cryptocurrencies and decentralized applications.
How Do You Convert CLO Coins To ccCLO Tokens?
Converting Callisto coins (CLO) into their wrapped counterpart, ccCLO, is facilitated through the SOY Bridge, a platform that functions like an exchange for seamless conversions between CLO and ccCLO. The process involves the following steps:
- Access SOY Bridge: Navigate to the SOY Bridge interface and connect your wallet.
- Select The Origin and Destination Networks: Choose the origin and destination networks for moving your CLO or ccCLO.
- Specify The Asset and the Amount: Select CLO as your asset and enter the amount of CLO or ccCLO you wish to convert.
- Confirm Transaction: Review and complete the transaction to wrap or unwrap your assets.
During this process, wrapped CLO coins are securely held in a smart contract on Callisto Network. Unwrapping ccCLO tokens leads to their effective burning, releasing the equivalent CLO from the contract.
ccCLO Contract Address:
The ccCLO token is deployed on Binance Smart Chain, Ethereum, Ethereum Classic, and BitTorrent. Its contract address is 0xccbf1c9e8b4f2cdf3bfba1098b8f56f97d219d53.
Always double-check to ensure you interact with this specific address to ensure the security of your transactions.
Important Note on Gas Fees:
Gas fees are required for executing transactions on blockchains. They vary depending on the network (ETH for Ethereum, BNB for Binance Smart Chain, etc.). Ensure you have enough of the native coin of the chosen blockchain to cover these transaction costs.
About Callisto Network
Callisto Network conducted over 330 smart contract audits across platforms like Ethereum, Ethereum Classic, and EOS. In addition to our audits, we’ve developed the ERC 223 token standard and CallistoNFT standard, enhancements over existing standards that address flaws and offer new capabilities, further establishing us as industry leaders in crypto-security.
