Wise is taking the Ethereum world by storm, and now it’s about to go live on Binance Smart Chain (BSC). On April 27th, WiseSoft, the company behind Wise, will run a Wise Liquidity Transformer Event (LTE). This will lock a maximum of 200,000 BNB into a liquidity pool on PancakeSwap and give early investors a chance to scoop $544,000 in prizes along the way!
Integrating with Binance Smart Chain
The LTE will last for 15 days, giving BSC users a fair chance to participate. WiseSoft is expecting to create a $200 million liquidity pool of BNB-backed Wise (ticker “WISB”) on PancakeSwap through the LTE. Absolutely none of the funds raised through the LTE will go to WiseSoft, with the WISB smart contract automatically locking away the liquidity pool to create total decentralization.
BSC users who take part in the LTE will be able to use the WISB staking contract to stake their tokens, earning interest in the process. Tokens can be staked for up to 42 years, with the average stake length being 2.4 years on the Ethereum blockchain. Set for a Q3 birth, WiseSoft is building a fully decentralized contract that allows for lending and borrowing cryptocurrencies on a decentralized exchange without the need for centralized price oracles or human intervention.
Details of the Presale
If you’re going to take part in any presale, it’s always good to know the details. The LTE will begin on April 27th at 00:00 UTC and last for 15 days. After the 15-day period is completed, the contract will initiate and complete integration with BSC and PancakeSwap. If 200,000 BNB is raised before the end of the 15-day period, the event will end early, and the integration contract will initiate.
There will be incentives up to $544,000 as rewards for presale investors with 6 different ways to qualify for a cut of the incentives pool. Prizes range from 1% cashback to a $100,000 grand prize for the biggest investor.
You can see the number of participants and investment sizes on the WISB BSC LTE page.
Stake for Up To 42 Years!
With the Wise staking platform offering daily staking intervals that range up to 42 years, BSC users are about to be able to level up their staking game. The longer you stake your Wise and provide liquidity to the network, the higher your rewards will be. Anyone can stake their Wise and get rewarded for it. There’s currently 4% annual inflation, with 3% going to stakers and 1% going to affiliates.
Another part of the Wise ecosystem is referring friends and other people. Both parties benefit from this, with stakers getting a 10% extra interest-earning power if they use a referral link and stake for more than one year. Affiliates, in return, collect staking interest from the 1% annual inflation designated to referees who meet the referral criteria. Rather than the 3% inflation split between thousands of stakers, this 1% inflation is shared by a smaller group of affiliates (currently at 294).
How Does Wise Work?
WISE is an ERC-20 smart contract backed by the value of the WISE that sits in the liquidity pool, which in turn also provides it with a price floor. On Ethereum, Wise (ticker “WISE”) is currently backed by a pool of 55,900 ETH. With the way the Wise liquidity contract works, if every WISE holder sold their bags, there would be 28,000 ETH remaining in the pool, guaranteeing a minimum price. The team refers to it as the unbreakable price floor.
This incredible idea allows Wise holders on specific blockchains to explore the DeFi world and make use of a range of DeFi products without fearing that their investment could become worthless if whales dump their bags. There will always be liquidity available on PancakeSwap (BSC) and Uniswap (Ethereum) as a direct result of these massive liquidity pools, meaning you can always open or close a position with ease. In fact, if every Wise holder sold their tokens on Uniswap, Wise would still be in the top 10 listed tokens for liquidity.
Disclaimer: The information presented here does not constitute investment advice or an offer to invest. The statements, views, and opinions expressed in this article are solely those of the author/company and do not represent those of Bitcoinist. We strongly advise our readers to DYOR before investing in any cryptocurrency, blockchain project, or ICO, particularly those that guarantee profits. Furthermore, Bitcoinist does not guarantee or imply that the cryptocurrencies or projects published are legal in any specific reader’s location. It is the reader’s responsibility to know the laws regarding cryptocurrencies and ICOs in his or her country.
