Zero pre-mining, zero private placement, zero reservation! WaykiChain "Fire Phoenix" Pledge Double Mining Officially Launched

WaykiChain has deployed DeFi since March 2019, and successively launched the mortgage lending system Wayki-CDP, the decentralized exchange Wayki-DEX, DeFi liquidation insurance and other decentralized financial products. The DeFi ecosystem is becoming more and more perfect. Among them, WICC has achieved nearly With a mortgage of 45 million, the loaned stablecoin WUSD exceeds 2.7 million US dollars, and its circulation involves many fields such as transactions, payments, and new Hong Kong stocks.

In order to further build an "integrated DeFi public chain", WaykiChain embarked on the derivatives track to develop and launch a new product - the decentralized synthetic asset issuance protocol Wayki-X. Up to now, Wayki-X has completed the public beta and will The official version will be launched on May 25, and the "Fire Phoenix" mining activity of Wayki-X core token ROG will be launched at the same time.

What is Wayki-X?

Wayki-X is a decentralized synthetic asset issuance protocol based on WaykiChain. The so-called synthetic assets can be understood as the mirror assets of off-chain and off-chain assets on WaykiChain, such as cryptocurrencies (Bitcoin, Ethereum, etc.), Hong Kong and US stocks, foreign exchange, precious metals... All synthetic assets can be issued on Wayki-X , investors can enjoy real benefits.

Wayki-X adopts the mortgage pool model, which does not require any real-time counterparty, and can perfectly solve the liquidity problems and slippage problems encountered by DEX. Through the Wayki-X decentralized synthetic asset issuance agreement, it can break down the barriers between various financial markets in the traditional financial market and provide users with one-stop financial asset investment services.

What is ROG?

ROG (Rods of God) is the native token of the Wayki-X decentralized synthetic asset issuance protocol. ROG is an important support and value endorsement for all synthetic assets. ROG is obtained by staking WICC and WGRT mining, no pre-mining, no crowdfunding, no founding team reservation.

In the decentralized synthetic asset issuance protocol Wayki-X, the mortgagor only needs to pledge ROG in the smart contract to synthesize xUSD stable currency. With xUSD, the user can choose to issue various synthetic assets, or choose Provided to synthetic asset trading users to obtain additional ROG issued by the system and some transaction fees on the Wayki-X platform.

ROG Token Distribution

The total amount of ROG genesis issued is 21 million (Note: 21 million is not the total amount of ROG, because ROG has a mortgage additional issuance reward mechanism in WaykiX, but all additional issuance rewards can be unlocked after one year). Of the 21 million pieces, 60% were dug out by WaykiChain's "Fire Phoenix" mining plan, and 40% were dug out by ecological mining. No pre-mining, no crowdfunding, no founding team reservations.

Genesis Mining Rules

The 12.6 million ROG of Genesis Mining are distributed in two pools, WICC and WGRT, among which:

- There are 10.08 million WICC pools, released in 300 days, and 33,600 are released every day;

- There are 2.52 million WGRT pools, released in 150 days, and 16,800 are released every day.

The corresponding proportion of ROG will be allocated according to the mortgage mining users' shares for each pool, and ROG will be distributed at 20 o'clock every day.

In the early stage of Genesis Mining, there will be three phases of snap-up, each phase is 24 hours, and the upper limit of pledge for each phase is 5 million WICC and 25 million WGRT, of which:

Ecological mining

40% of the tokens in ecological mining are completely used for ecological cooperation and marketing, and the team has no reservations. Such as exchange platform currency mining, partner token mining, or wiki ecological operation mining. The specific release speed or total amount of a single mining pool will not be greater than that of the WGRT mining pool.

Pledge unlock mechanism

Expiration unlocking: No matter which day the mining user starts staking mining, the unlocking date is a fixed date (July 22, 2021 for the WICC pool, February 22, 2021 for the WGRT pool);

for example:

for example:

Assume that there are three persons A, B, and C in the pledge pool, and the pledge amount is 100 WICC respectively.

If A is unlocked in advance, A redeems 50 WICC, and the remaining 50 WICC will be distributed to B and C in proportion. At this time, the actual pledge pool of B and C each has: 100 WICC+25 WICC;

Then, if B also unlocks in advance, B can only take 50% of B's ​​initial pledged principal, that is, 50WICC. The rewards originally assigned to B's reward pool cannot be taken away, but are reserved for users who continue to lock and pledge (C);

So C's actual equity in the pledge pool is now 100 (principal) + 25 (rewards allocated to C for early unlocking by A) + 25 (rewards allocated to B for early unlocking of A) + 50 (rewards allocated to C for early unlocking of B) rewards) = 200 WICC;

After that, D participates in the mortgage, and the mortgage amount is 100WICC. After the pool expires, D will not share the penalty part of the early unlocking of A and B, because D has not yet participated in mining when A and B withdraw ;

How to participate?

How to participate?

If you hold WICC or WGRT, you can withdraw WICC or WGRT to your own wallet on WikiTimes App and participate in mortgage mining.

If you don’t have WICC or WGRT yet, you can buy them from a centralized exchange or WaykiDEX, WaykiChain’s decentralized exchange, and then withdraw the coins to the WikiTimes App to participate in mortgage mining.

WICC has been launched: Huobi, Bithumb, Bittrex, Gate, AEX, Cointiger, Biying, BKEX, etc.

WGRT has been launched: OKEx, Gate, AEX, Mxc, Cointiger