Wault Finance
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Wault Finance

Details on Our Polygon Launch and WEXpoly Tokenomics

We’re very excited to be extending our services to Polygon, officially becoming a cross-chain platform. As a result, in only a matter of hours, you’ll not only be able to yield farm the highest APYs on BSC, but on Polygon as well!

Below, we’ll discuss the relevant details.

TLDR Ape Translation:

Polygon Launch Details

On Monday, June 14th, 2021, at ~2:30 PM UTC, Wault will officially launch its platform and list WEXpoly on Polygon. The launch will occur on a certain block rather than a fixed time( https://polygonscan.com/block/countdown/15709000 )which means 2:30 PM is an estimate because block times can vary. So be sure to arrive early if you want to buy up WEXpoly at a cheap price, as it won’t remain so for long.

After launch, you’ll be able to use WSwap to buy and sell tokens on Polygon, as well as WFarm to generate high APYs on your favorite assets. The farming pools will go online ~15 minutes after WEXpoly listing.

To use Wault on Polygon, all you’ll have to do is change to the Polygon network, either by toggling the Polygon<>BSC button at https://app.wault.finance/bsc/, or by directly visiting https://app.wault.finance/polygon/#overview

There, you’ll see the different farming pairs available, as well as become able to trade those tokens within WSwap at cheap rates. Similar to BSC, WSwap will have the lowest trading fees on Polygon at 0.2%, and once again, 100% of protocol fees from WSwap Polygon will be used for buyback and burn of WEXpoly.

Of the 0.2% trading fees, 0.14% will go to LPs and 0.06% to daily buyback & burn of WEXpoly. We believe the farming APYs will be very high so want to use more trading fees to burn more WEXpoly. Yes, in full disclosure, we are pyromaniacs…but that has nothing to do with this decision. It was science.

Science and all kinds of math…

More good news for WSwap traders is you won’t have to worry about gas fees either, since Polygon has even cheaper gas fees than BSC.

WEXpoly tokenomics

Now that the final WEX and WAULTx lockup numbers are in, we can reveal the total number of WEXpoly that will be minted and airdropped.

To be honest, the results shocked us, because 58.33% of WEX and 81.36% of $WAULTx were locked up for 30 days! It almost serves to prove that after locking people up, rehabilitation doesn’t stop repeat offenders, when they’re guaranteed to receive airdrops…

We do understand though. After all, each locked up token of WEX will receive 0.5 units of WEXpoly, and each WAULTx 0.25 units. It’s enough to make a yield farmer lose his mind with greed and create crop circles to attract tourists and media attention…

In any case, we at Wault are always happy to share the wealth of our ecosystem with our loyal token holders through airdrops like this. And you brothers, sisters, and AI bots have shown your loyalty and belief by locking up a total of 1,202,995,870 WEX and 707,381,292 WAULTx!

Your feelings have touched our hearts, and soon, our crypto wallets, because we’re making it rain WEXpoly. Here’s the breakdown for the airdrop:

WEX: 601,497,935 WEXpoly
WAULTx: 176,845,323 WEXpoly
Total: 778,343,258 WEXpoly

As we stated in the announcement article, the initially minted tokens will include 1/3 for the airdrop, 1/3 for DEX liquidity on WEXpoly, and 1/3 for marketing expenses. So there will be a total of 2,335,029,774 WEXpoly minted at listing. The mint rate for token rewards will be 1500/block, just like WEX on BSC, and will be capped and/or adjusted in the future by WEXpoly holders’ governance.

Of the 1/3 liquidity for WEXpoly, 1/10 of that will seed a Quickswap pair and 9/10 will seed WSwap. The Quickswap seed liquidity will be so WEXpoly can get listed quickly on CoinGecko but there will be no WEXpoly farming pair on QuickSwap.

At the same time as Wault launches on Polygon, which to remind you, is June 14th, 2021, at ~3 PM UTC, we will use the liquidity to seed WEXpoly-MATIC on Polygon’s WSwap and Quickswap. WEX and WAULTx stakers who locked up in our 30-day vaults will have 30% of their airdrop allocations sent to their MATIC wallets at that time. The addresses will be the same as their BSC addresses but on the MATIC network. (To learn how to add the MATIC network to your Metamask wallet, check here)

To send funds to MATIC, you can use their bridge.

10% of the remaining airdrop amount will be released every following week until all tokens are airdropped.

The starting market cap of WEXpoly will be set at 800k USD. At the moment, the market cap of WEX is 196 million, so in a fair launch manner, we’ve left plenty of space for you all to buy up cheap WEXpoly tokens if you get there fast enough.

Well, that’s it. We look forward to spreading our Wault-Ways on Polygon soon. What do we mean by that? Undervalued tokens, the lowest swap trading fees, the highest farming APYs, and of course —that beautiful daily token burn.

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Wault is a cross-chain decentralized finance hub that connects all the primary DeFi use-cases within one simple platform. We make the benefits of DeFi accessible in an intuitive way; saving you from the confusing interfaces, expensive fees, and unknown risks of other projects.

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Samsara NotALlama

Samsara NotALlama

Head of Strategy and Marketing at AlpacaFinance.org

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