WaykiChain Defi Ecosystem: Frequent Questions You Need to Know II
1.WUSD, as a cryptocurrency (stablecoin), except the usage of buying HongKong stock, it can be traded or not? And which exchange has listed WUSD?
First, except the usage of buying HongKong stock in HuaTong security, WUSD can be traded freely in WaykiTimes. The decentralized exchange DEX, developed by WaykiChain, has been launched in WaykiTimes. WUSD/WICC and WUSD/WGRT mutual trade has been open, everybody can trade freely in WaykiTimes. What’s more, WUSD has been list on AEX exchange. You can exchange WUSD into CNC or USDT through www.AEX88.com. WUSD is a cryptocurrency that can be traded. Just like USDT, WUSD is a stablecoin pegged 1:1 to USD.
2. What is the relationship between WICC and WUSD? In the future WaykiChain public chain support cross-chain asset, we can collateralize BTC, ETH, and even other crypto assets to lend WUSD. As more and more WUSD being lent out, what is the variation trend of the price of WICC?
If you collateralize WICC before, you know that the production of WUSD is from WICC collateral. It can be understood that WICC and WUSD are interdependent.
From the perspective of the supply and demand relationship, the more WUSD is lent, the more WICC are collateralized. Since there must be enough assets back up each WUSD to endorse it, the fewer WICC circulating in the whole ecology, the more conducive to the improvement of the value of WICC.
3. After the ETH and BTC are available to collateralize, will the total WICC collateral decreased?
The aim of ETH and BTC cross-chain asset collateral is to improve the upper limit of WUSD debt, increase the turnover of WUSD, and it is accelerating the whole eco-system. It won’t affect users who engaged in WICC collateral. WaykiChain will adjust to the actual collateral situation and demand in the market, such as more favorable interest rate and so on.
4. Why the price of WUSD is way lower than USDT?
This is mainly related to some issues of acceptance. WUSD is in its early stages and is still developing. Currently, there are some point price differences between WUSD and USDT.
5. What risk control measures does the Wayki — CDP system have for extreme market?
The risk of the system is that the price fluctuation of collateral assets may lead to the insolvency of abnormal CDP, so the risk defense mechanism is indispensable. In liquidation, the liquidator mechanism is the system’s first risk defense, and the second defense is risk fund. WUSD is stored in the risk fund, and the source of WUSD is mainly divided into two parts. The first part is that the assets raised during the issuance of WGRT will be exchanged into WUSD and put into the risk fund pool. The other part is when the system is cleared, a portion of the penalty is deposited into the risk fund pool.
6. What is the goal of WaykiChain now?
The short-term market target is to reach 50 million WICC total collateral.
7. Why the price of WUSD is lower in AEX?
To be honest there are spread in WUSD now. The interest on collateral WICC to get WUSD is lower, so there will be some exchange time difference. We have been contacting some acceptance dealers to communicate about this problem, after that we are going to keep the spread very low.
These are frequent questions about WaykiChain Defi ecosystem. If you have any other questions about WaykiChain Defi ecosystem, please leave your questions here. We will collect and give feedback later.
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