WAP$WAP

Januari 21, 2022

WAP$WAP

WAP$WAP is an Automated Market Marker on the Binance Smart Chain. We offer liquidity pool model. Users add pairs of tokens to liquidity pools and earn transaction fees from others who swap their tokens using the pools. We have seen popularity due to the speed and low fees offered by the Binane Smart Chain. Our cryptocurrency is called $WAP. You can easily buy and sell it on DEX. You can also swap other tokens for $WAP using our swap and liquidity pools.

WAP$WAP will potentially create entirely new financial markets, products, and services. An ecosystem of financial applications that is built on top of blockchain networks.

An open-source, permissionless, and transparent financial service ecosystem that is available to everyone and operates without any central authority. The users would maintain full control over their assets and interact with this ecosystem through peer-to-peer (P2P), decentralized applications (dapps). WAP$WAP do not relies on institutions such as banks to act as intermediaries, and courts to provide arbitration. We do not need any intermediaries or arbitrators.

The code specifies the resolution of every possible dispute, and the users maintain control over their funds at all times. This reduces the costs associated with providing and using these products and allows for a more frictionless financial system.

WapSwap brings many benefits when compared to traditional financial services.
Distributed ledger containing information about all activities taking place on the blockchain network is shared by everyone.
Through the use of smart contracts and distributed systems, deploying financial applications or products becomes much easier and safer.

WapSwap Features

Liquidity Pools: Liquidity providers (LPs) add funds to liquidity pools. You could think of a liquidity pool as a big pile of funds that traders can trade against.
Staking Pools: A staking pool is a group of coin holders merging their resources to increase their chances of validating blocks and receiving rewards. They combine their staking power and share the rewards proportionally to their contributions to the pool.
AMM: An automated market maker (AMM) is a type of decentralized exchange (DEX) protocol that relies on a mathematical formula to price assets. Instead of using an order book like a traditional exchange, assets are priced according to a pricing algorithm.
Swapping: Swap refers to exchanging one cryptocurrency you hold for the equivalent value of another cryptocurrency.
Farming: Farming is a way to make more crypto with your crypto. It involves you lending your funds to others through the magic of computer programs called smart contracts. In return for your service, you earn fees in the form of crypto.
ERC-20 Standard: ERC-20 introduces a standard for Fungible Tokens, in other words, they have a property that makes each Token be exactly the same (in type and value) of another Token.

Cross Chain Swapping

A cross-chain swap enables trading tokens across different blockchains without using an intermediary party (e.g. an exchange service) in the process.

Trading tokens directly from one blockchain to the other was impossible due to the technological differences between them until WapSwap developed an innovative WAP token which haves power to convert it's chain itself with simple burning, minting feature and a highly encrypted code which helps to verify the transaction made on a different chain. Yes it's completely server less (two chains interacts directly with each other).

For example, if Nemo wants to swap WAP tokens from BSC to Polygon chain:

Step 1 : Connect wallet with Binance Smart Chain.
Step 2 : Go to Chain Swap feature on WapSwap.
Step 3 : Enter the number of WAP tokens you want to swap, click 'chain swap' and approve the transaction.
Step 4 : Copy the encrypted code of that particular transaction.
Step 5 : Click 'change network' to change your chain network from BSC to polygon.
Step 6 : Paste the encrypted code at the claiming section, click 'claim' to claim your WAP tokens on Polygon Chain and approve to transaction.

The number of tokens nemo swapped were burnt from BSC chain (excluding 1% swap fee) and the same amount was minted on polygon chain with direct interaction between two smart contracts on different chains, with the help of encrypted data and identical wallet addresses as both chains are ERC20 based.
The encrypted code includes the necessary information which is required to verify the transaction on different chain, to ensure the quantity to mint and deliver the tokens to correct chain and wallet address.

The encrypted code includes the necessary information which is required to verify the transaction on different chain, to ensure the quantity to mint and deliver the tokens to correct chain and wallet address.

The protocol will maintain the total supply of tokens across all chains i.e. if the total supply of WAP tokens are 21 million then the total supply of WAP token including all chains will be 21 million, unlike other tokens which haves supply on multiple chains and their total quantity of all chains exceeds their total and max supply.

Farming

Yield farming incentive rewards from the AMM, if applicable - i.e. CAKE tokens from PCS.
Underlying trading fees of the pool - i.e. trading fees from the PancakeSwap pools.
Incentive rewards paid in tokens of platform partners (in featured pools).

Initial Liquidity Pools (LPs) for farming WAP tokens:

Reward multipliers:

WAP-BNB
WAP-BUSD
WAP-CAKE

Please note : If you unstake before 168 hours, the rewards will be lapsed and sent to dev address for burning.

Staking

“$WAP” TOKEN Staking involves the locking up of assets to participate in the validation of transactions on proof-of-stake blockchains, with a financial “reward” provided in terms Of different Tokens. This offers a digital asset alternative for yield generation in today's low or negative interest rate environment.

Stake $WAP to earn new tokens.
You can unstake at any time.
Rewards are calculated per block.

Staking Pools:

WAP POOL
BNB POOL
CAKE POOL

Please note : If you unstake before 168 hours, the rewards will be lapsed and sent to dev address for burning.

Liquidity Pools and Adding Liquidity

WAP$WAP liquidity pools allow you to provide liquidity by adding your tokens to liquidity pools or “LPs”.

When you add your token to a liquidity pool (LP), you will receive LP tokens (WAP$WAP’s version of liquidity provider tokens). As an example, if you deposited $WAP and $BNB into a liquidity pool, you would receive WAP-BNB LP tokens.

The number of LP tokens you receive represents your portion of the WAP-BNB liquidity pool. You can also redeem your funds at any time by removing your liquidity. Providing liquidity is not without risk, as you may be exposed to impermanent loss.

It’s not all bad for liquidity providers as you will also be given a reward in the form of trading fees. Whenever someone trades WAP, the trader pays a 0.25% fee, of which 0.18% is added to the liquidity pool of the swap pair they traded on.

For example:

There are 10 WAP LP tokens representing 10 WAP and 10 BNB tokens.
1 WAP LP token = $1 WAP + $1 BNB.
Someone trades 10 WAP for 10 BNB.
Someone else trades 10 BNB for 10 WAP.
The WAP/BNB liquidity pool now has 10.017 WAP and 10.017 BNB.
Each LP token is now worth 1.00017 WAP + 1.00017 BNB.

To make being a liquidity provider even more worth your while, you can also put your LP tokens to work whipping up some fresh yield on the WAP$WAP farms, while still earning your 0.18% trading fee reward.

How it Works

Burning: The amount of token to get swapped needs permission to shift on the other specified chain using the ChainSwapToChain() Event.
Interacting: When the event is emitted, a signal transfers to the other chain with the amount specified from the first chain.
Claiming: The amount of token burned from the first chain will need a trigger to the other chain for claiming the tokens.
Minting: When the method is triggered, the ChainSwapClaim() event is emitted along with the minting of the tokens.