wUSDN, or wrapped USDN, is an ERC-20 token that serves as a value-accruing wrapper for USDN within the SmarDex ecosystem. Unlike USDN, which employs a rebase mechanism to distribute yields by adjusting token balances, wUSDN maintains a constant token balance while its value appreciates over time. Internally, wUSDN represents a user’s share of the total USDN supply, allowing holders to benefit from USDN’s yield generation without experiencing balance fluctuations.