Waykichain has announced the Initial Exchange Offering of Waykichain Governance Coin (WGRT) will begin on OKEx, one of the most popular digital asset exchanges in the world. OKEx provides digital asset trading services to over 150 countries worldwide, with Decrypt claiming that OKEx leads with a 24-hour daily trading volume of more than a billion dollars. This move by Waykichain could potentially improve their global reach, credibility and further reiterate the improvements made in their technology through the years. Here’s all you need to know about the WGRT Initial Exchange Offering.
What Is WGRT?
WGRT is a governance coin supported by Waykichain’s lending platform. Waykichain’s lending platform specialises in providing decentralised collateral lending services for users across the globe. In our current pandemic-impacted harsh economic times, we’d all recognise the utility of a lending tool. WGRT, combined with other similar assets, holds the potential to turn around the slowdown we’re all experiencing globally. And what better way to do it than on a decentralized, cryptographically secure platform?
What’s more – WGRT holders can participate in the governance of system operation rules and the adjustment of system parameters, staying true to the nature of the Decentralised Finance (DeFi) ecosystem. The total supply of WGRT token is 21 Billion.
A total of 666,666,666 are listing at 0.003 USD apiece on OkJumpstart platform. WGRT follows Waykichain’s Mainnet Coin protocol. You can get additional details and the whitepaper on WGRT and WUSD, at the official website.
WUSD is the stablecoin (pegged to USD) operating on the platform, based on the core layer of the Waykichain public chain.
WUSD is a cryptocurrency collateralized stable coin where any BTC, ETH holder can acquire proportionate WUSD tokens by pledging the crypto assets to a Collateralized Debt Position. Moving the governance from existing protocols that use PoW, like DAI, to a token based model will help speed up the transactions multifolds for a decentralized stable coin such as WUSD. WGRT is the governance token on the network.
When is The Token Sale Event Happening On The Exchange?
The token sale event will be launched on June 17 this year.
- The OKBelievers Exclusive allotment session will begin at 09:30 IST (04:00 UTC) and the OKTraders Privilege Allotment session will initiate shortly thereafter, at 10:30 IST (05:00 UTC).
- A total of 666,666,666 (half in the OKBelievers Exclusive session, while the remaining in the OKTraders Privilege Allotment) tokens will go for sale during this period.
- It will also be listed in WGRT/USDT spot market at 12:30 IST (07:00 UTC) and
- In the WGRT/USDK spot market at 14:30 IST (09:00 UTC).
The subscription will be available on both OKEx website and the mobile app, and each subscription session will last for 30 minutes.
How Can Users Participate?
The OKBelievers and OKTraders Privilege allotments follow distinct rules for allotting the number of tokens available for purchase to each individual account holder. OKBelievers rewards consistent and stable holdings of OKB, but higher allotment can also be earned by large purchases of OKB during the day of sale. There is a minimum requirement of 5-day holding average to be above 100 OKB to be eligible to participate in the OKBelievers exclusive allotment session.
On the other hand, OKTraders Privilege exclusive allotment will be based on the users’ accumulated spot trading amount (valued in BTC) since OKEx was established.
In order to participate in the Token Sale, users will have to meet the following minimum requirements
- Participants should pass KYC2 level certification
- There is a minimum subscription requirement of 100,000 WGRT, and a maximum of 1,333,334 WGRT can be subscribed by any single user.
- Rules to determine the allotment coefficient can be viewed on the OKEx Webpage
- All Indian users can participate in the IEO. Coin Crunch users will also receive a special offer, read further to know more.
- Each Subscription session will last for a period of 30 minutes.
- Only OKB is supported during Token Sale
When the allotment period ends, users will be credited with their respective tokens, and OKB will be deducted from their accounts. Any excess OKB held for subscription will be released. The second session will begin shortly thereafter, and OKB released from the first session can be used in the second session as well.
Special Offer for Coin Crunch Readers
Users who sign up using this link, will receive a 5 USDK bonus after they make a deposit of 50 USD or more in any crypto.
All new registrations will also share 44000 USDT pool once they buy cryptocurrency on OKEx, check out the details here.
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Update: The coin price was incorrectly mentioned in the previous version.