Is it smart to get $wise?

So I've been seeing some buzz about $WISE token in Telegram and on Twitter and decided to see what all the fuss was about. I was seeing people exclaim "Dude, you are stupid if you don't stake for at least 3 years (or 5 years.)" Now, right out the GATE I have a lot of trouble trusting staking/yield farms so I'm thinking to myself "How crazy do you have to be to lock money in a new project for YEARS?" It looks like the entire use case being built around WISE is just simply "Stake and get rich." Here is what their website https://wisetoken.net has to say about it:

WISE is designed to be the most decentralized and secure store of value in crypto, making it the star candidate for long term investments. While Bitcoin is the first and foremost king of this use case, the crown is shared with cryptos that have intrinsic value such as Ether, which is needed to power all projects in the Ethereum network. Given that 90% of new crypto projects are built on Ethereum, the intrinsic value of ETH is unshakable, and WISE is backed by a large pool of ETH. The WISE contract's innovative use of Uniswap created a way to utilize the initial ETH sent to buy WISE to directly back the value of all WISE tokens purchased (Liquidity Transformer Epoch). This act permanently bonded the value of WISE with a pool of ETH on Uniswap, so WISE's use case is a matter of how many investors desire the additional features WISE offers as opposed to simply holding ETH. All future investors must ultimately purchase WISE on Uniswap, driving up the price as the supply becomes scarce. Investors may earn interest on their WISE by locking it up in stakes, and like bonds, certificates of deposit, and time deposit bank accounts, longer stakes provide higher yields.

Yeah, I think we've all pretty much seen this before. My big concern is A LOT can happen over the course of years. Hell, I have a problem with locking into something that's six months and ALREADY proven itself to be a solid project. So what else do they have?

From the website:

• Superior security: WISE is an immutable smart contract with maximized security via professional audit (see link below), 100 ETH bug bounty, extensive testing, and 100% up-time.
• Promotes financial self-sovereignty by providing an attractive alternative to traditional CD and time deposit bank accounts, a multi-trillion dollar market.
• Truly trustless, with no backdoors, administrative keys, or greedy distribution schedules like other DeFi projects.
• High percentage of staked tokens: the high percentage of owned WISE that has been staked (see pie chart on wiseinfo.io) reflects strong faith in the project, and will help reduce volatility and promote price appreciation by limiting the circulating supply.
• A user-friendly alternative to staking ETH, with the potential for much greater profits due to price appreciation (relative to ETH). In this era of very low and even negative bank interest rates, the DeFi boom reflects a tremendous demand for trustless user-friendly yield. WISE does it best!
• Centralized and decentralized financial products have already been built on top of WISE, with more on the way. Plus, the WISE token can be easily incorporated into the huge variety of existing projects (DeFi and others) on Ethereum

 

So yeah it is your standard "white paper HODLER token redux." The big draw is supposedly larger staking gains to competitors as well as timed airdrops. According to the stake calculator at https://wiseinfo.io/staking you can stake for up to 42 years. Is that "answer to the riddle of the universe" sort of joke? I hope not even though I am a fan of Douglas Adams.

So should you "Get Wise" so to speak? According to CoinMarketCap it peaked at .93 cents and currently sits .53 cents at the time this article was written. I will check back in with them from time to time to see if their plans materialize. As always, this is not financial advice and you should always do your own research!

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