There are a lot of DeFi and farming projects coming out these days. Some of them are on ETH, most of the new ones are on BINANCE Smart Chain. The 2017 ICO craze of ETH resulted in a lot of scams, and now the new ones coming out on BSC are full of rug pulls such as the latest meerkat rug pull which cost the investors 32 Million USD. Trust is hard to come by and any second layer DeFi project is susceptible to rug pulls and scams unless due diligence is carried out. 1st Layer projects are more trustworthy, especially if they are around for years.
WaykiChain is a 1st Layer Native DeFi project and DeFi is in its DNA. WaykiChain has been around since 2017 and it has been keeping its price up, and getting into top exchanges since its birth. If you see a project that is active for four years, working on its native chain, and keeping up with the trends, you have a winner. Check out how WaykiChain protects itself with proper decentralization in this article. Many people ask me what WaykiChain is all about. WaykiChain is an asset-management tool, collateral lending, margin capable with synths protocol and DEX. In short, WaykiChain is a complete-decentralized bank you can use on blockchain. It is trustless and based on code only.
Using waykitimes on your cell phone and waykimax on your PC, you can manage all your crypto assets. You can use its Wayki X synths protocol to buy and sell crypto assets like Bitcoin, ETH, XLM, anything you want. You can also purchase US wall street stocks and indexes such as Microsoft, GameStop, Apple, and S&P500 in addition to Hong Kong stocks. I myself was able to purchase some GME stocks before the craze began, but I sold them too early. Otherwise, I was rich beyond belief now! Crypto has never-ending opportunities and WaykiChain keeps up with the trend and one of the most solid crypto projects around. Its three-token economy has $WICC as its utility coin and it is in many exchanges including, but not excluded to, Huobi, Bittrex, gate.io, bithumb, and many more.
You can use Wayki Collateralized Debt Position (CDP) to borrow against your collateral. For example, you can borrow against WICC, and with the borrowed WUSD, you can borrow more WICC and put it as collateral as well. When the time comes to pay for the collateral, you can collect WUSD from the market, and pay for it to redeem your WICC. Let’s say you put up $100 worth WICC and collected 50 WUSD. You purchased more WICC with that WUSD and put it up as collateral as well. You do this couple more times, and you have around 180 USD worth of WICC as collateral. When the time comes, as the price is higher, you can simply bring some WUSD, the stable coin, to redeem all your WICC, and if the price of WICC is 2x, then you get $360 worth of WICC. If you were simply holding WICC, a 2x increase in price would result in $200, but using the CDP system, you received a higher reward. You can also use this system to borrow against your WICC collateral and simply retire. For example, if you have 20K USD worth of WICC, you can borrow 5K USD worth of WUSD to spend. The collateral rate changes based on your collateral, but it has to be equal to or less than 50 percent. This example shows the 25 percent collateral. The yearly interest on the CDP system is around 3-4 percent but the value of WICC increases way more than that. For example, in March 2020, WICC price was less than 0.10 USD and in March 2021 it is hovering above 0.34 USD. This means more than 3x in a year! If you had borrowed some WUSD back then, the price increase in WICC coin would cover all your interest plus any money you spent. If you have 100K USD worth of WICC, then you can borrow up to 50K USD worth of stable coins. Simply use some of these to purchase more WICC, and spend some of it. As WICC price appreciates, close some of the debt and sell WICC at the market, and everything is fine and dandy!
What you can do with Waykichain:
? Asset management: WaykiTimes
? Collateral Lending: Wayki-CDP
? Synths Protocol: Wayki-X
? Decentralized Exchange: Wayki-DEX
Recent focus:
? Super Node Election
? Synths Trading
? WaykiTimes development and optimization
? Top exchange listing (Code audit is passed in Coinbase, waiting for further notice)
Website: www.waykichain.com
Twitter: https://twitter.com/wayki_chain
Telegram: https://t.me/wiccofficial
Facebook: https://www.facebook.com/WaykiChainWICC/
Instagram: https://www.instagram.com/waykichain/
Reddit: https://www.reddit.com/r/Wayki_Chain/
WaykiTimes: https://wicc.me/turkey
WaykiMax:http://bit.ly/waykichrome
Let's Connect:
https://t.me/Vincent_Lionheart
https://twitter.com/waykieurope
https://www.linkedin.com/in/vincentlionheart/
https://reddit.com/user/Vincent_Lionheart/
https://medium.com/waykichain
https://www.youtube.com/c/CryptoBullEvaluations
Disclaimer: None of the text written here is financial advice, they are simply my opinions, as I am not a financial advisor.
