# `gno.land/r/moul/x/grc20wrapdemo/v0`

**A permissionless wrapper factory for GRC20 tokens.** Point it at any token
registered in [`r/nt/grc20reg`](https://gno.land/r/nt/grc20reg/v0) and it issues a
new one backed by it, with a personality you pick. Point it at two and it issues
a meta-token backed by both. No allowlist, no owner, and no authority over
anybody's balance: every deposit is pulled with an allowance the holder granted.

## Five minutes, start to finish

```
# 1. play money
maketx call -pkgpath gno.land/r/moul/x/grc20faucet/v0 -func Claim

# 2. let this realm pull your RED (the address is printed by Home(), and on the
#    realm's own page)
maketx call -pkgpath gno.land/r/moul/x/grc20faucet/v0 -func Approve \
  -args RED -args <Home()> -args 1000000

# 3. create a wrapper over RED, and deposit into it
maketx call -pkgpath gno.land/r/moul/x/grc20wrapdemo/v0 -func NewWrapper \
  -args gno.land/r/moul/x/grc20faucet/v0.RED -args pool -args pRED
maketx call -pkgpath gno.land/r/moul/x/grc20wrapdemo/v0 -func Deposit \
  -args pRED -args 500000
```

Step 2 is the one people skip. Without it every `Deposit` fails with
`insufficient allowance`, which is the system working.

## Modes

| mode | what the wrapped token does |
|---|---|
| `plain` | 1:1 custody receipt |
| `kilo` | 1 underlying unit becomes 1000 wrapped, +3 decimals |
| `soulbound` | wrap and unwrap freely, never transferable |
| `pool` | shares in the escrow; `Donate` pays every holder at once |
| `sticky` | `pool` plus a 1% exit fee, left behind for whoever stays |

And `NewFusion(keyA, perA, keyB, perB, symbol)`, which bundles two registered
tokens at a fixed proportion into one meta-token, `Fuse` in and `Defuse` out.

## The parts worth reading the code for

**`pool` is the entire yield-bearing-token pattern in two lines of arithmetic.**
`Donate` adds escrow and mints nothing, so every outstanding share is worth more,
permanently and for everyone at once. A fee sink, a staking reward and an airdrop
to holders are the same operation seen from three angles.

**`soulbound` binds users, not realms.** `MsgCall` cannot build the `realm`
argument grc20's tellers need, so a signing account can only move the token
through this realm's `Transfer`, where the veto lives. Another realm holding it
can always move its own balance. Non-transferable here means "no user can pass it
on", and the exit is always open: unwrap, and the underlying moves freely again.

**Wrapping a wrapper works, and nothing special was needed to make it work.**
Every token this realm issues is itself registered in `grc20reg`, so its key feeds
straight back into `NewWrapper`. A pool over a plain wrap of RED is a good way to
see how thin the abstraction is.

**Two wrappers over the same underlying share one escrow account** (this realm's
address), and are kept apart only by each vault's own `Held()` counter. `Escrow`
reports that counter; the render page reports whether the account still covers it.

Built on [`p/moul/x/grc20wrap`](https://github.com/moul/gno-contracts/tree/main/p/moul/x/grc20wrap/v0),
which is where the wrapping actually happens. This realm is the chain wiring and
a catalogue.

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---

Part of **[moul/gno-contracts](https://github.com/moul/gno-contracts)** — moul's versioned gno.land contracts. See the repository for the full catalog, build/test tooling, and usage.

**Dependency graph:**

![gno.land/r/moul/x/grc20wrapdemo/v0 dependency graph](https://raw.githubusercontent.com/moul/gno-contracts/main/_assets/gno.land/r/moul/x/grc20wrapdemo/v0/deps.png)

> 🧪 **Highly experimental — potentially vibe-coded.** Not audited; may break, change, or be removed at any time. Do not use with anything of value. Full disclaimer: [DISCLAIMER](https://github.com/moul/gno-contracts/blob/main/DISCLAIMER.md).

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