Since the launch on April 12, 2021 on Binance Smart Chain, WOWswap added support for Polygon and HECO chains becoming the first multichain leveraged swaps DeFi application.
On the 10th of May 2021 we shared our plan for the next 100 days with the focus to offer leveraged exposure to smaller cap altcoins to maximize returns in the bull market & bear markets, and provide high APY for major token holders.
On top of several protocol improvements, we also shared our determination to roll out WOW Governance, expand to other blockchains, release liquidation software, launch the first ever blockchain-based referral…
Decentralized exchanges like Uniswap, Pancakeswap, Quickswap and MDEX reinvented the way people trade digital assets and receive profit from trading if assets’ prices go up.
WOWswap works on top of those decentralized exchanges and offers the simplest tool to maximize profits with 5x leveraged long-swaps.
But is it possible to receive a profit when a token’s price goes down?
The answer is “YES” — it’s called shorting. When you short a token, you loan it from someone and immediately sell that token: Short = Borrow + Sell.
If the token’s price goes 📉, you buy it back later for a…
Have you ever imagined getting hired by a smart contract? What if in the future people will be paid not by companies or governments but by algorithms and AI?
WOWswap developed the first ever smart contract that pays you for recommending WOWswap to your friends and community.
The total monthly salary pool is over $100,000!
👉Our smart contract is a “fair employer” and hires everyone with a Metamask wallet 🙌. You just need to make a Sing Up transaction and generate your referral link — https://wowswap.io/reward-account
👉Our smart contract never delays your salary 😉. If anyone follows your link and…
WOWswap brings leverage to the people with expansion to the HECO Chain 🚀 First 12 tokens are added for decentralized leveraged trading!
At launch 1️⃣2️⃣tokens are available for trading with up to 3️⃣x leverage (5️⃣x enabled soon), and more tokens are joining soon.
Expansion to HECO Chain allows to trade tokens currently not available on the Binance Smart Chain and Polygon networks with $USDT and $HT used as collateral.
It also means that liquidity providers can earn yield on USDT and HT by simply depositing USDT and HT in WOWswap Earn lending pool 😎
Tokens available to trade on HECO…
Decentralized Finance (DeFi) offers an alternative democratic financial system which is decentralized, fully automated and censorship-resistant. No permission is needed from a central authority to use DeFi services, and no single entity controls the product’s settings and parameters.
It is the community that decides on the rules and procedures that regulate the protocol in a democratic and automatic manner. Therefore, in this spirit, starting from today, all WOW protocol’s financial and economic parameters are defined through voting by WOW token holders.
WOWswap takes the governance in DeFi to a new level by implementing instant on-chain permissionless governance that counts every…
When traders buy tokens with leverage on WOWswap they borrow additional capital from liquidity providers and leave the purchased tokens as collateral against their loans. If the token prices go up, traders can receive amplified profits 🤑, but if the token prices go down, leveraged positions could be liquidated 🥵. The liquidation process is a “necessary 👿” because if a money-loosing position is not closed on time, then liquidity providers can lose their funds.
In WOWswap liquidations are done via a smart contract, which can be called by anyone. When a user (“keeper”) calls the liquidation smart contract, the contract…
Join $5000 USD giveaway to celebrate WOW staking launch 🚀🚀🚀
Governance is a mechanism, through which degens can control important parameters of WOW protocol, ensuring its profitability and security in a decentralized way.
Via onchain voting degens can set the protocol’s lending rates 📊, liquidation margins❌, liquidation rewards 💸, approve 🔥 tokens for leveraged trading, as well as submit and accept WOW improvement proposals🧾.
To participate in Governance degens need votes, represented by non-transferable xWOW tokens, which they can get in exchange of staking WOW tokens and Pancakeswap WOW/BNB LP tokens.
Today, W😮W protocol released its first governance module, allowing…
WOWswap launched on April 12, 2021 on Binance Smart Chain and just two weeks later WOWswap expanded to Polygon Network — a multichain scaling solution for Ethereum.
During many AMA sessions we had with communities from Vietnam, Indonesia, Malaysia and other global ones, we received a question on what is the most challenging part in building a DeFi project.
The number one challenge is the fast pace of development in DeFi ecosystem. To be successful we need to see where the market is going to go next and plan accordingly to offer products that people love to use. …
Last week @Boring_Crypto tweeted about a potential vulnerability exposing WOWswap to the same flash loan attack from which bZx protocol suffered.
In response to this threat, we upgraded the WOWswap protocol to V2️⃣, which now uses the widely used Chainlink Price Feeds as our go-to oracle mechanism to prevent future on-chain actions based on manipulated price data.
WOWswap is bringing leverage to the people with expansion to Polygon Network (formerly Matic)🚀. At launch, 🔟tokens are available to trade with up to 3️⃣x leverage (5️⃣x enabled soon), with more tokens added in the future.
Polygon Network brings scalability to Ethereum using an adapted version of Plasma with Proof of Stake🥩 (PoS) based side chains, which are blockchains that run alongside the Ethereum main chain. The result is fast🏎 and nearly-free💰 transactions — a true delight 🍬 to WOW degen traders.
Expansion to Polygon Network allows to trade tokens currently not available on the Binance Smart Chain, including opening…