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How ZXMR works
The full lifecycle: wrap and redeem — no sign-up, no account, always from your own wallet.
Overview
You send real Monero (XMR) to a Monero address issued for you. A federation of independent, bonded operators jointly confirms the deposit and mints an equivalent amount of ZXMR on Arbitrum, minus a small wrap fee — no single operator can mint alone. ZXMR is a normal ERC-20 — hold it, use it across DeFi, or provide liquidity to earn fees. To exit, you burn your ZXMR yourself and the operators pay out real XMR to a Monero address you specify, minus a small redeem fee, after a short on-chain safety window. ERC-20 name “Wrapped Monero”, symbol ZXMR, 12 decimals (1 smallest ZXMR unit = 1 piconero = 1e-12 XMR).
Wrapping, step by step
- Open Wrap in the app and get a Monero deposit address.
- Send real XMR to it from your Monero wallet.
- Wait for the deposit to confirm and unlock — about 20 minutes typically.
- A group of independent operators jointly confirms the deposit — no single one can act alone — and ZXMR is minted to your Arbitrum address, minus a small wrap fee. The amount you'll receive is shown before you send anything.
Redeeming, step by step
- Open Unwrap in the app, enter an amount, and enter the Monero address you want paid out to.
- Double-check that address — a redemption can't be reversed once submitted.
- Confirm the redemption. Your ZXMR is burned on-chain, and after a short safety window the operators pay out XMR to your address, minus a small redeem fee.
The full-reserve invariant & the peg
Vault XMR reserves ≥ total ZXMR supply, at all times.
It is equal at the moment of each mint — the wrap fee is itself minted as backed fee-ZXMR from the same deposit, so freshly-minted supply exactly matches freshly-deposited XMR — and strictly greater once redeem-fee surplus accrues, since every redemption burns more ZXMR than the XMR paid out.
See reserves & supply →The peg is to XMR the asset, enforced by redeemability. The USD price of ZXMR is set by the market, not by an on-chain oracle.
Fees
The wrap fee is minted as fee-ZXMR to the treasury from the same deposit. The redeem fee is realized as surplus XMR retained in the vault. The fee is taken from the amount — never added on top — and it never breaks the 1:1 backing.
A full round trip (wrap then redeem) costs 1%. Swaps on the exchange carry the pool's own small trading fee, paid to liquidity providers — separate from the 0.5% wrap/redeem fee.
Wrap (XMR → ZXMR) — 0.5% fee
| You send | Fee | You receive |
|---|---|---|
| 1 XMR | 0.005 | 0.995 ZXMR |
| 10 XMR | 0.05 | 9.95 ZXMR |
| 100 XMR | 0.5 | 99.5 ZXMR |
Redeem (ZXMR → XMR) — 0.5% fee
| You send | Fee | You receive |
|---|---|---|
| 1 ZXMR | 0.005 | 0.995 XMR |
| 10 ZXMR | 0.05 | 9.95 XMR |
| 100 ZXMR | 0.5 | 99.5 XMR |
Quick glossary
- Wrap / Mint
- Convert XMR into ZXMR.
- Redeem / Unwrap / Burn
- Convert ZXMR back into XMR.
- 1:1 backing
- Every ZXMR is backed by one unit of XMR in reserve.
- DEX
- Decentralized exchange: swap and pool assets on-chain, non-custodially.
- Liquidity pool / LP
- A smart-contract pool you deposit into to enable swaps and earn a share of the trading fees.
- Federation / threshold custody
- The reserve can only be moved when a required number of independent operators agree, so no single party controls it.