> For the complete documentation index, see [llms.txt](https://kopio.gitbook.io/kopio-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://kopio.gitbook.io/kopio-docs/fundamentals/synth-wrap.md).

# Synth Wrap

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This documentation is a work in progress!
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Whenever an underlying asset has an reputable representation on-chain it can be enabled for direct wraps between the [Kopio Asset](/kopio-docs/fundamentals/kresko-assets.md), which is called a Synth Wrap.

Similar to how the [vault](/kopio-docs/fundamentals/kiss.md#vault) enables capital efficient entry point for stablecoins through [ONE](/kopio-docs/fundamentals/kiss.md), the synth wrap enables a capital efficient entry point for underlying assets with on-chain representations.

## Use Cases

This enables accounts to directly trade with them using the [SCDP](/kopio-docs/fundamentals/cdps/scdp.md) and liquidators can perform [liquidations](/kopio-docs/fundamentals/liquidations.md) without opening a separate [ICDP](/kopio-docs/fundamentals/cdps/icdp.md) position.

## Examples

Simplest examples of this would be allowing Ether or Wrapped Ether to be directly converted into a Kopio Asset representing Ether.

<figure><img src="https://lh7-us.googleusercontent.com/valYAAK3gIExL_NtR57jVwDZ1M_Sff9Jkwc4UNr6al9ySl2l7Uy1hGylni1GE7m3Oy4zHZJa56aoNB5__V8B7YM2vea7pohg1_9DCtsgdL1xB0s_OKQvGZlYng3vH-gHH1K7WE4nKD4ANkKDUTH68sA" alt="" width="563"><figcaption><p>Creating 1 krETH with 1 Wrapped Ether.</p></figcaption></figure>

<figure><img src="https://lh7-us.googleusercontent.com/I9HfGTa_GHX3NqT8Vx0Jyy66rJW3t2gwF4v9jiGZZXt7PIbDkDuoUHNlDqvo5rnMfWyIZ9KooDd_xq_me_ficz_gVX3JQlK5p_dq7ac9P-KPPA6kNRc1t64KsSezteXuTstMwIEeuSM9lVpa0BCjDNQ" alt="" width="563"><figcaption><p>Burning 1 krETH to receive the previously wrapped 1 Wrapped Ether.</p></figcaption></figure>

## Fees

The wrapping is configurable with a separate fee percentage for both directions which is similar to the open and close fee in the ICDP.