I'd use something gentler than peroxide. Veterycin if you have it, or saline if not. A bit of plain neosporin. Toes can be really hard to wrap and get it to stay on without wrapping the whole foot. It will harden up and after a few days be less painful, but it will be quite painful til then. Imagine your finger nail or toe nail getting ripped off, the tissue underneath is really sensitive. It will probably be fine, just keep an eye on it for any abnormal swelling or signs of infection. If his run is very dirty (meaning droppings etc) or wet then I'd probably crate him on towels or puppy pads til it dries up, to help keep it clean, but likely it will be fine.