Auto Wrap is an automated token wrapping system that automatically wraps ERC20 tokens to Super Tokens just in time to keep your streams running.
When your Super Token balance reaches a certain lower threshold, Auto Wrap steps in and wraps enough tokens into the needed Super Token on your behalf to ensure you never run out of balance, as that would make all streams stop.
Most organizations don’t hold their assets as Super Tokens. DAOs are more likely to hold USDC than USDCx in their treasury to limit exposure to third party protocols. So when a DAO is paying contributors in streams of USDCx they need to ensure they periodically wrap additional USDC in USDCx to keep their streams running.
This can be a tedious manual process because it requires you to:
With Auto Wrap, this manual process is fully automated. The system keeps monitoring a wallet balance of a specific token (i.e. USDC) and when it’s too low (normally less than 2 days worth of outgoing streaming) it automatically wraps a variable amount (normally 7 days worth of outgoing streaming) to keep streams running over time. All the payroll admin needs to do is make sure they’re holding enough USDC in their wallet - the wrapping part is taken care of by Auto Wrap.