Wault Locker and Our Commitment to Security
In the current landscape of the DeFi space that’s advancing at the speed of light, a key aspect in every project is security. Many of you have shared your thoughts with us in chats on our social media pointing out this exact fact. That’s why as a new company, we’ve been putting in significant effort to make our security as invulnerable as possible, implementing various initiatives such as opening a bug bounty program, receiving an external audit through Certik, and obtaining asset insurance. However, we also understand that trust is crucial, and that it’s something that needs to be built.
We’re all fortunate though, because in the world of cryptocurrencies, we have methods to reinforce such trust through smart contract technology. That’s where our new initiative comes in — Wault Locker.
Many of you asked for proof that your contributed funds are locked, and we decided to do our best to provide just that, by utilizing a service to lock and secure the liquidity. Yet, when we searched for a solution functioning on the Binance Smart Chain, we couldn’t find anything appropriate. So, since we’ve recently expanded our development team, we’ve decided to create it ourselves.
Wault Locker is a DApp to lock liquidity for certain periods of time, offering similar value as certain prosperous offerings on the ETH blockchain such as UniCrypt and Team.Finance. However, Wault Locker will be the first of its kind on Binance Smart Chain!
Our plan is to add it into the necessary application layer for new projects building on BSC, where at the moment, there is no alternative solution. Thus, we believe this DApp will become vital for the growth of the BSC ecosystem.
Of course, we will start with locking our own liquidity to bring our users peace of mind and demonstrate the functions of the DApp. The WAULT liquidity on PancakeSwap will be protected inside Wault Locker for 6 months, locked through inviolable smart contracts.
We estimate the beta version will be launched this week. Then, the full DApp and monitoring UI will be available in around two weeks.
In addition, for WAULT token holders, the advantages of this initiative don’t stop at only improving security and trust. The Wault Locker will deliver financial benefits as well.
For each liquidity lock inside the DApp, the smart contract will automatically take 0.2% of the total tokens locked as a service fee. Those tokens will then be liquidated and used to market buy Wault tokens, creating constant buying pressure, assuring the WAULT token will maintain a high price.
The purchased WAULT tokens will then go to the marketing fund and the community will decide how to use them through decentralized governance. They may be used for additional marketing spend, burned to create token deflation, or added to the security fund. It will all depend on the immediate needs of the protocol and the decisions of governance.
Hence, when it comes to security and trust, we want you to know that you can rest assured, because we’ll continue to do our utmost to ensure your peace of mind and the safety of your funds. Like this, together, we’ll be able to grow a vibrant ecosystem on the Binance Smart Chain.
We’ll keep building, so you can keep DeFi’ing.
What is Wault Finance?
Wault Finance is a decentralized finance hub that plans to connect all the primary DeFi use-cases within one simple ecosystem on Binance Smart Chain. We believe the benefits of DeFi should be accessible to the masses but in an intuitive way; avoiding the expensive fees, confusing interfaces, and centralized decision-making of many current platforms. So with these goals in mind, we’re launching an effective and user-friendly yield generator and lending aggregator to provide immediate benefits to our users.
In addition, we believe in open and decentralized governance. That’s why WAULT token holders will be able to vote on and decide all aspects of the protocol’s future development path. Every developer is also welcome to work on and contribute to our open-source code. Come join the movement and help us advance DeFi on the Binance Smart Chain!
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