Introducing W😮Wswap — the first decentralized protocol for leveraged trading on PancakeSwap
Hello, W😮W Degens!
Would you like to get up to 5X leverage when trading $CAKE, $AUTO, $VAI, $BAKE, $BUNNY, $FUEL, $FRIES, $KEBAB, $LIT, $BIFI and your other favorite tokens on PancakeSwap 🥞?
W😮Wswap will make it possible❗❗❗
W😮Wswap is a fully community-owned protocol based on a simple idea💡: liquidity providers can create a BNB pool , and traders can borrow these funds to buy up to 5 times more tokens on Pancakeswap DEX. Protocol fees, interest rates for lenders and borrowers, liquidation ratios and other ⚙ are decided by holders of W😮W tokens — our governance token.
Making a W😮W swap is as easy as making a regular Pancakeswap — extra capital will be automatically borrowed from the liquidity pool.
In the example below with 1 BNB you would be able to buy your favorite token for 5 BNBs, so you will receive 5️⃣ times more tokens.
Instead of the original token you will receive a proxy-Token (for example, if you bought CAKE you will get wCAKE tokens), which is pegged 1:1 to the original in W😮Wswap’s smart-contract. Proxy-Token will be converted back to the original token when you decide to close your trading position.
If the price of your token 🚀🌕, you can swap proxy-Tokens back to BNB and receive a multiplied profit. Hope, in this case you won’t mind to share a 5% of your profit that will go to ̶o̶u̶r̶ ̶L̶a̶m̶b̶o̶ ̶P̶i̶g̶g̶y̶ ̶B̶a̶n̶k̶ back to the community via the insurance fund (2,5%) and token buy-back and 🔥 (2,5%).
Sounds exciting ❗❓ Now, let’s talk about the 😢 part. If the price of your token goes 📉, below the liquidation threshold, then anyone can become a margin caller 👿 by triggering the liquidation of your trading position — in this case you will loose all 💰 invested in the trade 🥵.
The BNB pool will still receive back borrowed funds plus the accrued interest, and the margin caller gets the rest of the funds as a reward.
The insurance fund. We make the best effort to make W😮Wswap as safe as possible for everyone, but in case of a black swan event some trades theoretically can be liquidated too late, so to mitigate possible losses for liquidity providers the protocol builds up the insurance fund, which receives 2.5% of every swap’s net profit.
W😮W tokenomics:
W😮Wswap has a fixed supply of 1️⃣,0️⃣0️⃣0️⃣,0️⃣0️⃣0️⃣ W😮W tokens, which are used for the protocol’s governance and community rewards.
👨🌾Community tokens will be distributed to the protocol’s users over a period of 18 months:
- 200,000 tokens will be distributed to liquidity providers
- 100,000 tokens will be distributed to leveraged traders
- 50,000 tokens will be distributed to margin callers
- 200,000 tokens are reserved for marketing activities, community contests, bounty campaigns, white hacking rewards, and airdrops.
📢Sale tokens will be offered to public at a public sale price of 💲5️⃣ via our smart contract 0x79f8ac4e7b4e83ca1ad4c54dfc5eaec659a1fe56🦄.
👨💻Team tokens have a vesting period of 18 months, unlocked quaterly.
⚡Initial liquidity tokens will be used to create a trading pool on Pancakeswap on March 1, 2021 at 🕘 19:00 (GMT+9). The listing price will be 💲8️⃣.
🔥 W😮W airdrop 🔥
To celebrate W😮WSwap protocol launch we are distributing 3,885 W😮W tokens to the first 7️⃣7️⃣7️⃣participants who traded at least once on PancakeSwap before February 7th on a first-come, first-served basis.
5️⃣ WOW tokens (💲4️⃣0️⃣ USD value at public listing price) will be distributed to each qualified user on March 1, 2021 at 18:00 PM (GMT+9).
To qualify for the airdrop you need:
1️⃣💛 Pancakeswap 🥞 (your wallet needs to have at least 1 swap transaction made before February 7, 2021)
2️⃣ Follow our official Twitter account.
3️⃣ Submit your wallet address and the twitter username through this Google form.
