• Mon. Jul 15th, 2024

Theta upgrade adds support for wrapped THETA (wTHETA)

  • The Theta v3.4.0 upgrade completed successfully at block height 17285755.
  • The software change enabled support for wrapped THETA (wTHETA) ahead of Theta Metachain mainnet launch in December.

Theta, a blockchain-powered video streaming network, has successfully upgraded to v3.4.0, Theta Labs has announced.

Theta v3.4.0 went live at block height 17285755 and its success brings Theta one step closer to the launch of its Metachain mainnet slated for December 2022.

Theta adds wrapped THETA for DeFi

The hard fork to the new version completed after all community validators upgraded their nodes, with v3.4.0 adding support for wrapped THETA (wTHETA) for the Theta web wallet.

The TNT20 token – an ERC-20 like token standard on Theta, can now be used on Metamask as well as across multiple smart contracts.

The upgrade has also added support Theta-based decentralised finance (DeFi) and for staking THETA or Theta Fuel to Elite Edge Nodes and Guardian Nodes, to provide for pooled staking and increase available staking products, Theta Labs announced.

Broadly, this upgrade means more utility for THETA and opens up the ecosystem for further growth. The Theta team is preparing for a testnet release ahead of the Metachain launch, with the testnet set to offer developers a chance to build on their own highly scalable, customisable subchains.

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