README.md: add mini FAQ
Change-Id: Id0379f56f1fcdaea3a58cf719d8593e799ddd55a
This commit is contained in:
parent
0e602ed91d
commit
00a92b0278
16
README.md
16
README.md
|
@ -27,6 +27,22 @@ printer on fire or startle your cat.
|
|||
Cryptocurrencies in general are a high-risk investment, there's decent chance you'll lose your money, and you most
|
||||
certainly shouldn't put your life savings into a Wormhole contract (or any other).
|
||||
|
||||
### READ FIRST BEFORE USING WORMHOLE
|
||||
|
||||
- Much of the Solana ecosystem uses wrapped assets issued by a centralized bridge operated by FTX (the "Sollet bridge").
|
||||
Markets on Serum or Raydium are using those centralized assets rather than Wormhole wrapped assets. These have names
|
||||
like "Wrapped BTC" or "Wrapped ETH". Wormhole is going to replace the FTX bridge eventually, but this will take some
|
||||
time - meanwhile, **Wormhole wrapped assets aren't terribly useful yet since there're no market for them.**
|
||||
|
||||
- Other tokens on Solana like USDC and USDT are **centralized native tokens issued on multiple chains**. If you transfer
|
||||
USDT from Ethereum to Solana, you will get "Wormhole Wrapped USDT" (wwUSDT), rather than native USDT.
|
||||
|
||||
- **Solana's SPL tokens have no on-chain metadata**. Wormhole can't know the name of the token when you
|
||||
transfer assets to Ethereum. All tokens are therefore named "WWT" plus the address of the SPL token.
|
||||
The reverse is also true - Wormhole knows the name of the ERC20 token, but there's no way to store it on Solana.
|
||||
There's an [off-chain name registry](https://github.com/solana-labs/token-list) that some block explorers use, but
|
||||
if you transfer an uncommon token to Solana, it may not show with a name on block explorers.
|
||||
|
||||
### Repo overview
|
||||
|
||||
- **[bridge/](bridge/)** — The guardian node which connects to both chains, observes lockups and submits VAAs.
|
||||
|
|
Loading…
Reference in New Issue