No Pre-mining, ICO, or Reserve! WaykiChain Released Phoenix Yield Farming Rules
On September 18, 2020, WaykiChain released the rules of Phoenix Yield Farming with WICC & WGRT Dual-pool as below:
1. Genesis supply of ROG is 21 million. There is no pre-mining, no ICO, no reserve for the founding team. 60% is generated through genesis staking in Phoenix Yield Farming (starts on September 25) and 40% is generated through ecosystem staking (TBA).
2. The 12.6 million ROG for genesis staking form the WICC and WGRT pool. ROG will be distributed to each staker as per the ratio of its stake at 20:00 (HKT) daily. Release rules:
· 10.08 million ROG of the WICC pool will be released in 300 days, 33,600 ROG daily;
· 2.52 million ROG of the WGRT pool will be released in 150 days, 16,800 ROG daily.
3. There will be initial and regular genesis staking. The initial stage has 3 subscription rounds of 24 hours. Each round has a cap of 5 million WICC and 25 million WGRT. Regular genesis staking is unlimited. See the below table for subscription and staking details:
4. ROG release can be at expiration or early:
· Release at expiration: regardless of the staking start day, the release date is fixed. WICC pool expires on July 22, 2021. WGRT pool expires on February 22, 2021.
· Early release: if a user decides to release prematurely, it will lose 50% of its stake. This part will be distributed to the remaining stakers in the pool who continue staking until the expiration. Addresses that release early will no longer get ROG rewards.
ROG (Rods of God) is the native token of the decentralized synthetic asset issuance protocol Wayki-X. ROG is the vital support and value endorsement for all synths. 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.
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.
Download WaykiTimes: https://www.waykichain.com/wallet.html
Official website: www.waykichain.com