WaykiChain Launches Phoenix Yield Farming with WICC & WGRT Dual-pool for ROG Genesis Issuance
On September 25, WaykiChain officially launches the Phoenix Yield Farming project. Users will be able to stake WICC or WGRT in mining pools to mint ROG, the token with substantial value. The official release of Wayki-X will be available on the same day.
ROG is the core asset of Wayki-X, the decentralized synthetic asset protocol of WaykiChain. ROG holders can pledge ROG to mint the xUSD stablecoins and become shareholders of the system and are thus rewarded with additional ROG through the system inflation. They can offer xUSD to synth traders and are also rewarded with the transaction fees as well as the net income of the whole trading market as per their debt ratio. ROG pledgers need to repay all xUSD debt to redeem the ROG collateral. Traders can use xUSD to synthesize other assets, including cryptocurrencies, US and Hong Kong stocks, commodities, and gold. Wayki-X already has synth spot trading and will also launch futures. Wayki-DEX lists both ROG and xUSD.
Currently, WaykiChain DeFi products include the stablecoin WUSD, the decentralized collateral lending system Wayki-CDP, Wayki-DEX, and the decentralized synthetic asset protocol Wayki-X. Wayki-CDP collateral is 45 million WICC or about USD 11 million. 2,700,000 WUSD loans were issued. The launch of Wayki-X synth protocol and its token ROG will help WaykiChain expand its DeFi offerings and contribute to the formation of a holistic ecosystem of lending, stablecoins, asset trading, and derivatives.
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