Wrapped Atlético Madrid (Kayen)Price

(WATM)

WATM is a wrapped version of the official Atlético Madrid Fan Token (ATM), specifically designed for use within decentralized ecosystems on the Chiliz Chain. While the original ATM token is typically non-divisible, WATM features 18 decimal places. This allows users to trade fractional amounts and utilize the asset within various decentralized finance (DeFi) applications. It maintains a 1:1 backing with the original fan token, providing the same underlying exposure with enhanced technical flexibility for trading and liquidity provision.

No, WATM is not a stablecoin and is not pegged to the US Dollar or any other fiat currency. Its value is directly tied to the market price of the Atlético Madrid Fan Token (ATM) at a 1:1 ratio. The price of WATM will fluctuate according to the market performance and demand of the official club fan token rather than staying at a fixed monetary value.

Users can convert their ATM tokens by utilizing the wrapping features provided within the Chiliz Chain ecosystem. By depositing original ATM tokens into the designated smart contract, an equivalent amount of WATM is issued to the user's wallet. This process is reversible, allowing holders to unwrap their WATM back into the original ATM tokens at any time if they wish to access specific features on official fan engagement platforms.

Temporarily, no. To participate in official club polls, vote on decisions, or claim exclusive rewards on the official fan app, tokens must be held in their original ATM form. While tokens are held as WATM or placed in liquidity pools, they are technically outside the official fan engagement ecosystem. To regain voting utility, users simply need to unwrap their WATM and move the tokens back to a supported wallet or the official club application.

Standard fan tokens often lack the divisibility required for seamless integration with automated market makers and other decentralized protocols. By wrapping ATM into WATM with 18 decimal places, the asset becomes DeFi-compatible. This transition allows for more precise trading, the ability to swap fractional amounts, and better integration into liquidity pools, which ultimately improves the overall utility and accessibility of the fan token within the broader blockchain ecosystem.

As a smart contract-based asset, WATM carries technical risks inherent to decentralized finance. While the protocols maintaining WATM aim for transparency and security, the assets are governed by the underlying code of the wrapping contract. This is distinct from holding tokens in a centralized exchange environment where the platform manages security. Users should always verify contract addresses through official blockchain explorers on the Chiliz Chain to ensure they are interacting with the correct asset and avoid potential security threats.