# sBWPM

**sBWPM** is a (FT) token obtained by depositing BWPM (NFT). 1sBWPM guarantees 1BWPM.

![](/files/-MdC29KjpKA5Pqbg6dGZ)

sBWPM is a smart contract compliant with ERC20 (KIP7) specification and supports switching between BWPM ↔ sBWPM. BWPM holders deposit BWPM in smart contract and obtain sBWPM tokens. You can switch the sBWPM token back to BWPM via the same smart control.

sBWPM is a Klaytn Compatible Token (KCT). Therefore, it can be exchanged for KLAY and other KCT tokens (KDAI, KUSDT, KSP, etc.).

![](/files/-MdD-32D2itlGSpyByNF)

#### Deposit

Deposit 1BWPM in sBWPM contract and get 1sBWPM. There will be a swap fee.

#### Withdraw

Return 1sBWPM to sBWPM control and receive 1sBWPM. There will be a swap fee.

#### BWPM ↔ sBWPM Swap Fee

A fee (10KUSDT) will be charged for switching between BWPM and sBWPM. Swap fees are passed to Treasure contract and distributed to BWPM holders.


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