Round 1 Subscription of WaykiChain’s ROG Genesis Yield Farming scheduled to start at 20:00 HKT on September 25 has completed. It took 9 minutes 46 seconds to pledge 5,000,000 WICC and 62 minutes to pledge 25,000,000 WGRT completely. Those who missed it as well as today’s successful participants can join next rounds (the nearest starts at 20:00 HKT on September 26). Stay tuned for updates!
Genesis supply of ROG is 21 million. (Note: 21 million is not the total supply because Wayki-X uses ROG in the Rewards by Inflation mechanism. These rewards release after one-year lock-up). Of the 21 million, 60% is generated through Phoenix Yield Farming and 40% is generated through ecosystem staking. There is no pre-mining, no ICO, no reserve for the founding team.
Along with ROG Genesis Yield Farming, WaykiChain has also launched its decentralized synthetic asset protocol Wayki-X.
What is Wayki-X?
Wayki-X is a decentralized synthetic asset issuance protocol based on WaykiChain. “Synths” are on-chain images of off-chain, external assets. In Wayki-X, issuance of synths is possible for cryptocurrencies (BTC, ETH), HK and US stocks, Forex, precious metals, etc. Investors in these assets can get real profit.
In Wayki-X, pledgers just need to lock ROG in a smart contract to be able to synthesize xUSD. When a user has xUSD, it can synthesize any available asset. It can also give xUSD to synth traders to get ROG rewards by inflation and share a part of Wayki-X trading fees.
Trading of various synths is open now. As of now, Wayki-X has 26 synths of three types. Addition of more synths (gold, Forex, commodities, etc.) is down the road.
WaykiChain decentralized synthetic asset system Wayki-X removes various entrance barriers of the financial market. It allows any person or institution to trade various global financial products, meets the users’ demand for open finance, and follows the current development trend of finance. It seamlessly connects cryptocurrency and traditional financial markets and provides a feasible mechanism for trading real-world assets on blockchain. It can expand DeFi to increase the market value of the entire cryptocurrency market and empower its development strongly. Synth trading is significant for the industry transformation and will be the next inevitable trend in financial transactions.
WaykiChain’s ROG is the basic asset and necessary tool of the decentralized synthetic asset system Wayki-X. Without ROG, the synthesis of various assets and the experience of investment in global assets would be impossible in Wayki-X. ROG has entered the traditional finance and gained the value momentum of Wayki-X.
What is ROG?
ROG (Rods of God) is the native token of Wayki-X. ROG is the vital support and value endorsement for all synths. ROG generates through WICC and WGRT staking. There is no pre-mining, no ICO, no reserve for the founding team.
Generation of first ROG will happen in Yield Farming on September 26. With ROG collateral, users can mint xUSD stablecoins and earn rewards by inflation and a part of Wayki-X transaction fees. xUSD is also the tool to trade the above synths and invest in various quality assets around the world with no barriers.
In Wayki-X, pledgers just need to lock ROG in a smart contract to be able to synthesize xUSD. When a user has xUSD, it can synthesize any available asset. It can also give xUSD to synth traders to get ROG rewards by inflation and share a part of Wayki-X trading fees.
Ecosystem Staking
40% of the tokens for staking will be used for ecosystem cooperation and marketing, e.g. staking on exchanges, staking by partners, or staking by the WaykiChain ecosystem operations. There is no reserve for the team. The release speed and amount will not exceed those of the WGRT staking pool.
How to Join?
If you hold WICC or WGRT, transfer it to your wallet in the WaykiTimes app and start staking.
If you have no WICC or WGRT, you can buy it on centralized exchanges or Wayki-DEX, transfer to WaykiTimes, and start staking.
Exchanges that listed WICC: Huobi, Bithumb, Bittrex, Gate.io, AEX, CoinTiger, Coinw, BKEX.
Exchanges that listed WGRT: OKEx, Gate.io, AEX, MXC, CoinTiger.
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