So, you have heard about something called Wonderful Memories (MEMO and wMEMO), but you are wondering how to add MEMO token to Metamask. First things first, let’s clear things out.
For those who don’t know … Wonderful Memories (MEMO) it’s part of the wonderland platform, a DeFi cross-chain reserve currency protocol, and a DAO. Wonderland invests in the early stages of projects and uses innovative yield-maximizing market strategies.
The MEMO token was used to staked TIME at a 1:1 ratio. TIME is the native token in Wonderland. To put it simply, TIME is like the dollar but backed by lots of other decentralized assets. As a result, holders can keep their purchasing power.
Confused? DON’T worry, MEMO and TIME were deprecated in January 2022. You still can add MEMO, but we recommend using wrapped Memo (wMemo) to participate in governance and high-yield staking.
How to Add MEMO Token To Metamask?
Before we get into the specifics, here is our quick 5-Step process to add MEMO to Metamask:
Step 1: Launch Metamask App and Unlock it
Step 2: Select Avalanche-C Chain
Step 3: Scroll Down and click on import Tokens
Step 4: Import MEMO/wMEMO Token Contract Address
Step 5: Add Custom Tokens To Metamask
Note: You can add wMEMO in other networks like Fantom (FTM), Ethereum (ETH), and Arbitrum. But, keep in mind that liquidity is low.
Sinple isn’t it?
If you want a DETAILED, step-by-step guide here’s what we’ll cover:
1. How to Add Memo Tokens to Metamask
As previously mentioned in the introduction, MEMO can be used to stake TIME at a 1:1 ratio. Both MEMO and wMemo are built on the lightning-fast Avalanche Blockchain.
Since the Avalanche Network (AVAX-C Chain) is an EVM-compatible network, Memo and wMemo can be easily added to Metamask.
In this section, I will show you how to add both MEMO and wMEMO to Metamask. We recommend adding wMemo as it is becoming the most widely used token (we will explain why below).
However, before You Start:
- Ensure you have a computer or mobile device with an internet connection
- Ensure you have a web3 crypto wallet like Metamask installed on your browser or mobile device (iOS and Android) to view your Memo balance and interact with dApps.
- Ensure you have added Avalanche (AVAX-C Chain) to your Metamask (If you don’t, no worries, we will explain how).
NOTE: If you haven’t installed Metamask on your browser or mobile devices please head to the Metamask official website, download the application and create a wallet. Always keep your recovery phrase in a safe place.
Without further ado, Launch your Metamask wallet extension (or Metamask mobile app if you are on your phone) and unlock it by entering your password.
How to add MEMO to Metamask Avalanche
Avalanche is one of the cheapest networks to transact. Unlike Ethereum, which uses Layer 2 scalability networks to enhance bandwidth. Avalanche is reliant on its main chain.
If you wish to add Memo to Avalanche C-Chain. Follow these steps:
STEP 1: Select The Avalanche C-Chain
Once you have launched your Metamask extension and unlocked it by entering your password, ensure you are on the Avalanche C-Chain.
If you haven’t added Avalanche C-Chain to your Metamask Wallet, it’s as easy as playing your favorite game! Simply go to add networks, select Avalanche C-Chain from the list, and voila, you’re ready to rock!
Related Guide: Add Network to Metamask Automatically [In ONE CLICK]
STEP 2: Click on Import Tokens (Under don’t see your Token)
When you’ve selected the right network, scroll down till you see don’t see your token? And then select Import tokens.
STEP 3: Copy & Paste the Memories Token Contract Address
The next step is to get the MEMO Contract contract address. You can find that address on Snowtrace. Or, if you prefer, copy the address below:
MEMO Token Contract Address: [0x136Acd46C134E8269052c62A67042D6bDeDde3C9]
STEP 4: Add MEMO Token Metamask
When you paste the token contract address, the MEMO information will populate automatically.
Click on add custom token and import tokens, then double-check that MEMO is in your wallet.
How to add Wrapped Memo to Metamask
wMEMO is the wrapped version of MEMO. A wrapped version is essentially another version of the same digital asset that can be used on a different blockchain.
Tokens are frequently wrapped to facilitate cross-chain transactions and ensure compatibility with other blockchains. In this case, Ethereum, Fantom, and Arbitrum.
Wrapped versions are often pegged at 1:1 (1 Native = 1 Wrapped), however in our case, 1 wMEMO = 2339.3522 MEMO.
Currently, wMEMO is used in governance (voting proposals) and staking (in the farm) to earn revenue share rewards. Practically, for EVERYTHING, you know?
But enough about wMEMO. Let’s see how can be added to Metamask!
Here are the steps:
STEP 1: Select a Blockchain Network
Once you have launched your Metamask extension and unlocked it by entering your password, ensure you are on the network you would like to use (we recommend Avalanche C-Chain since it is the most liquid).
If you haven’t added Avalanche C-Chain to your Metamask Wallet, it’s as easy as playing your favorite game! Simply go to add networks, select Avalanche C-Chain from the list, and voila, you’re ready to rock!
Related Guide: Add Network to Metamask Automatically [In ONE CLICK]
STEP 2: Click on Import Tokens (Under don’t see your token)
When you’ve selected Avalanche C-Chain as your default network, scroll down till you see don’t see your token? And then click on “Import tokens.”
STEP 3: Copy & Paste the Wrapped Memo Token Address
The next step is to get the wMemo Contract address. You can find that address on coinmarketcap. Or, if you prefer, copy the address below:
wMEMO Token Contract Address: [0x0da67235dd5787d67955420c84ca1cecd4e5bb3b]
NOTE: If you wish to add wMEMO to other networks like Ethereum, Fantom or Arbitrum, here are the token contract addresses: Ethereum (ETH): 0x3b79a28264fC52c7b4CEA90558AA0B162f7Faf57 Fantom (FTM): 0xddc0385169797937066bbd8ef409b5b3c0dfeb52 Arbitrum: 0xECf2ADafF1De8A512f6e8bfe67a2C836EDb25Da3 Keep in mind that wMEMO liquidity on these networks is low.
STEP 4: Add wMEMO to Metamask
When you paste the token contract address, the wMEMO information will populate automatically.
Click on add custom token and import tokens, then double-check that wMEMO is in your wallet.
3. How To Wrap (and Unwrap) Memo
The last thing we need to understand is how to wrap and unwrap MEMO. Especially, after MEMO was deprecated in January 2022 and is gradually slipping out of use. So, if you hold MEMO or TIME and want to wrap these tokens, this section is for you!
Here is how it works: To wrap a token, a custodian or smart contract on the original blockchain holds the original token (e.g., MEMO) and creates a new token (e.g., wMEMO) on the target blockchain (e.g, Ethereum). The custodian or smart contract ensures that the wrapped token is always fully backed by the original token and there are no liquidity problems.
To wrap and Unwrap MEMO we can use the wonderland Money App from the official website or use Metamask directly (If you are as LAZY as I am, you will want to use Metamask).
For this section, we will use the easiest way. Let’s put our Metamask wallet to use:
STEP 1: Select the Avalanche C-Chain
Memo and wMemo both live on the Avalanche C-Chain. Ensure the AVAX-C Chain is selected.
STEP 2: Click on Swap
On the main screen, click on the third button that says SWAP.
STEP 3: Wrap or Unwrap MEMO
The last step is to perform the transaction, review it and approve it.
To wrap Memo, select MEMO on Swap From and WMEMO on Swap to
To unwrap MEMO, select WMEMO on Swap From and MEMO on Swap to
That’s all! That’s all there is to it!
4. Conclusion
MEMO token was deprecated in January 2022 and is gradually losing its use. It can still be used to stake the native wonderland money token, called TIME. TIME is a decentralized and fully-backed stablecoin.
We learned how to add MEMO token to Metamask. However, we recommend you add wMemo to Metmask since this is the primary token used for cross-chain transactions, governance, and staking.
Let’s recap our 5-step process:
- Step 1: Launch Metamask App and Unlock it
- Step 2: Select Avalanche-C Chain
- Step 3: Scroll down and click on import tokens
- Step 4: Import MEMO/wMEMO Token Contract Address
- Step 5: Add Custom tokens to Metamask
We hope you enjoyed this guide! Check our FAQs if you would like to know more!
5. FAQs
How Do I Add Memo To Metamask on Mobile
Adding MEMO on your Metamask mobile version is almost identical to your browser. Here are the steps:
- Unlock your Metamask mobile version
- Select Avalanche C-Chain
- Select Add Tokens
- Enter MEMO token Contract Address
- Add MEMO Token
PRO TIP: Use the browser option (hamburger Menu) to navigate to Snowtrace and copy the token contract address
What is MEMO Token Address
The MEMO token contract address is:
[0x136Acd46C134E8269052c62A67042D6bDeDde3C9].
It can be found on Snowtrace.
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