WrappedM by M0 wallet

What is WrappedM by M0 (WM)?

WrappedM (wM) is the non-rebasing form of M, the dollar token issued by the M0 protocol. M itself is minted by approved minters against short-term US Treasury bills held in custody, and its balance rebases: the number of tokens in a wallet changes on its own as the protocol distributes yield to allowlisted earner addresses. Many contracts and bridges cannot handle a balance that moves by itself, so M0 issues wM, a plain ERC-20 wrapper. One wM represents one M, the balance stays fixed, and the yield mechanics stay inside the wrapper contract rather than on the holder's balance. For a person keeping the token, that is the practical difference: wM behaves like an ordinary dollar-pegged token, while unwrapped M does not.

wM is the version that travels. It was created on Ethereum and is bridged to other chains, where it exists as a separate representation of the same asset: an ERC-20 on Arbitrum and an SPL token on Solana with its own token account, with fees paid in ETH or SOL depending on where the balance sits. The ticker is short and easy to confuse: there are unrelated tokens using "WM" or similar names on the same chains, and the name WrappedM also gets mixed up with wrapped versions of other assets. Check the network and the issuer, not just the symbol, before sending.

Supported networks in Tangem (3): Arbitrum One, Ethereum, Solana. The app keeps a separate wM balance for each of them and shows which network an outgoing transfer belongs to before the card signs, so a holder who moves wM between Ethereum, Arbitrum and Solana can see which representation is leaving the wallet. For an asset whose whole design is to be the portable, plain version of M, keeping every one of those balances behind a single card is the simplest arrangement.