Total Supply of a wrapped asset

I’m asking about Banano, a project I do not work on, but participate in the community of.

Banano is forked from NANO and runs on its own DAG. There are wrapped versions of banana (wBAN) on Polygon, BSC, and Fantom. I spotted the bcc token in the unverified section, so I reached out to the dev team and they were confused.

What should the total supply of each wBAN token be? BANANO has a fixed supply, but each of the tokens can be minted/burned when the user wraps/unwraps.


Hello @cucumber and welcome to Incognito! :cucumber:

We do not currently have a bridge to Nano.

Awesome, we can support these.

Please link me to your support ticket as I have not seen one with your username. Was it sent here on the forum?

Whenever a coin is shielded into Incognito we mint an equivalent pCoin. So 1 wBAN is equal to 1 pwBan. You can read about this process in detail here: Shielding Cryptocurrencies: Turning Any Cryptocurrency Into a Privacy Coin


Sorry, I meant the wBAN dev team.

Does this mean the total supply of pwBAN should be the same as the (theoretical) max supply of BANANO.
More generally, how important is this maximum supply number, how does Incognito use it?

Hi @cucumber, once you shield 1 wBAN into Incognito, the 1wBAN will be locked in smart contract of Polygon, BSC or Fantom (it’s up to you to choose the neworks) then 1 pwBAN will be minted to your Incognito wallet. That means if all circulating wBAN tokens in the above networks are shielded to Incognito, the same pwBAN tokens amount would be minted to Incognito wallets in a 1:1 ratio and the wBAN token is never inflated as shielding into Incognito.
A reverse process called unshielding will burn pwBAN token and then unlock wBAN to designated Polygon/BSC/Fantom addresses in order to maintain the 1:1 ratio between wBAN and pwBAN.
Hopefully the description of shielding and unshielding processes above could answer your question.
Lastly, we will verify the pwBAN token in Incognito soon. Thanks.