Announcement on Decrease of Wayki-CDP Collateral Lending Interest Rate
Recently, the market has experienced big fluctuations. In order to maintain the stable price of WUSD, WaykiChain changes the interest rate formula parameters and thus adjusts the collateral interest rate (stable rate). See the details below:
The original interest rate formula: r = 1.8 / lg(1 + 50N). The adjusted interest rate formula: r = 1 / lg(1 + 50N). After the adjustment, the average loan interest rate in WaykiChain’s decentralized collateral lending system Wayki-CDP is 17% p.a., see the below figure for details (the x-axis N is the WUSD loan amount and the y-axis Rate is the stable rate).
We ask all users to pay attention to the dept position changes in Wayki-CDP. For any questions, please feel free to contact @MeloCai in Telegram.
As of now, over 32.33 million WICC (15% of the total supply) has been pledged in WaykiChain’s decentralized collateral lending system Wayki-CDP. WUSD loans amount for USD 1.05 million. The main use cases of the borrowed WUSD are investment in Hong Kong innovative pre-IPOs through W Broker, cryptocurrency trading, and overseas payments.