WigoSwap

WigoSwap is a Decentralized Exchange (DEX), and also a platform for staking, farming, buying and selling of non-fungible tokens (NFTs). Making use of our DeFi protocols, users are able to provide the DEX with liquidity, trade various assets in a decentralized manner, and benefit from the rewards allocated to the adopters. Taking into consideration the deficiencies inherent in the existing solutions, WigoSwap aims to reshape the DeFi solutions emphasizing their adequate functioning. Furthermore, the platform keeps an eye on guiding the liquidity provided by the users to yield in a more positive way.

WigoSwap provides users with all-inclusive financial services that operate in a totally decentralized way. The services include but not limited to Decentralized Exchange (DEX), staking platform, and also liquidity pools. Moreover, WigoSwap benefits from a range of almost unprecedented features, including NFT Integration, and DAO Governance, that pave the way for rearranging the elements within the DeFi sector.

WIGI TOKENOMICS

Goals and Products

The team behind WigoSwap has been meticulously searching for the ways through which the flaws in traditional finance alongside the inadequacies in the existing DeFi solutions could be overcome. An example of the latter could be clearly seen in high transaction fees charged by the existing protocols, and also their slow transaction speed due to their lack of sufficient scalability.

WigoSwap is a hedge against the above mentioned problems. This is partly due to the fact that using AMM mechanism leads to fast, secure, and entirely decentralized activities on the exchange. Trading on the platform is done in an automatic way. Moreover, users can stake their dormant funds in the liquidity pools and benefit from high ROI (Return On Investment).

The features offered by WigoSwap include:

• Decentralized Swap
• Liquidity Pools
• WigoFarm (Farming)
• WigoBank (Staking)
• NFT Marketplace *
• Initial Farm Offerings (IFOS) *
• DAO Governance*

Commitment, discipline, and motivation lead us to our grand vision.

The word ‘Roadmap’ in the jargon might simply be reminiscent of strict timelines. However, due to the ever-changing nature of the industry, our team is also committed to arranging the priorities in accordance with market changes and users’ needs.

Q1 2022: Initial Launch

• Development of Core smart contracts
• Development of Farm, Vesting and TimeLock smart contract
• Unit Testing and Documentation
• Design and Development of UX/UI
• Signing an Assessment Service Agreement with CertiK (Full Audit + Skynet + Oracle Monitoring)
• Completion of the Assessment and Audit by CertiK
• Launch Swap and Liquidity Supplying
• Launch of Analytics Section for Monitoring TVL and Volume
• WIGO Initial Dex Offering (IDO)
• Release WigoFarm (Farming)
• Release WigoBank (Staking)
• Release WigoVault (Auto-compound Feature)
• GBM Phase 1.0

WigoSwap is an Automated Market Maker (AMM) with the Decentralized Exchange playing a pivotal role in its ecosystem. Operating as a comprehensive AMM on the Fantom Blockchain, WigoSwap’s goal is to lead users on their way to decentralization.

The above is to be achieved through offering various services:

Swapping/Trading:

With the advent of Decentralized Exchanges users are not required to use centralized exchanges any more. Using WigoSwap, all of the operations of the users are done via their own wallets. Therefore, there is no longer the need to trust third-party actors with your assets.

When you make a token swap (trade) on the exchange you will pay a 0.19% trading fee, which is broken down as follows:

0.18% - Returned to Liquidity Pools in the form of a fee reward for liquidity providers.

0.01% - Sent towards Gamified Burning Mechanism (GBM).

Yield Farming:

As users provide the platform with liquidity, they earn WIGO tokens as their reward. This in turn leads to a minimization of the risk of impermanent loss which is inherent in protocols that lock users’ liquidity.

Click on below to read detailed information on WigoFarm.

Provided that there is sufficient liquidity for certain tokens, users are able to swap tokens. However, lack of liquidity for the tokens you want to swap might make the operation hard, costly, or even impossible.

Users who provide liquidity to the liquidity pools will be granted Wigo-LP tokens. The users are incentivized through the fees generated as a result of trading on the platform. In this way, the existence of liquidity for the DEX is guaranteed to a certain extent.

Wigo-LP Tokens:

Let's make this clear through an example. Consider that you deposit WIGO and FTM Into the liquidity pool. You would then receive WIGO-FTM LP tokens. Needless to say, the amount of Wigo-LP tokens you receive is a manifestation of your share in the WIGO/FTM liquidity pool. You can claim your funds at any given moment by simply removing your liquidity from the pool.

Earning Trading Fees by Providing Liquidity:

As users of the platform use the liquidity pool in which you’ve deposited liquidity, you will receive rewards in the form of the fees generated as a result of trading. Trading on WigoSwap costs the traders a 0.19% fee. 0.18% of this amount is added to the certain liquidity pool users are trading in.

For the sake of clarity an example is provided:

The amount of liquidity in a pool is 10 WIGO and 10 FTM. Therefore, there are 10 Wigo-LP tokens that represent this amount.

As a result, 1 Wigo-LP token = 1 WIGO + 1 FTM.

Consider that a trader trades 10 WIGO for 10 FTM. Another trader also trades 10 FTM for 10 WIGO.

The liquidity pool, namely WIGO/FTM now has 10.018 WIGO and 10.018 FTM.

Caused by the fees generated, Wigo-LP tokens are now worth 1.0018 WIGO + 1.0018 FTM each.

To unlock the full financial potential of providing liquidity to the pools, WigoSwap enables you to use your Wog-LP tokens on WigoFarm so that you can gain higher yields. Moreover, you still benefit from the rewards obtained in the form of trading fees.

WIGO is the native governance token of WigoSwap’s ecosystem. The maximum supply (hard-cap) determined for WIGO token is 2,000,000,000.

Initial Supply

8% of the Max Supply is intended for the initial mint that is planned to be minted by WigoSwap team at deployment time. The determined proportions are as follows:

Initial DEX Offering (IDO)

2% of WIGO’s maximum supply (40,000,000 WIGOs), alongside $50,000 in FTM are allocated to the Initial DEX Offering. Therefore, the initial price of WIGO would be around $0.00125 at the beginning of the IDO. The LP tokens generated through establishing the initial pool, and received by WigoSwap core team will be locked for 365 days and will not be used in farming.

Vesting Schedule

In what follows you can see the vesting schedule related to the seed funders:

12% Initial Allowance

22% after 60 days

22% after 120 days

22% after 180 days

22% after 240 days

The Remaining Supply for Emissions

The rest of the supply is going to be minted over time as follows:

The base emissions rate is 9 WIGO per second divided across WIGO staking and farming pools. WIGO minting features a mid-term hyper inflationary period of 8 months in which rewards have a 9 times multiplier in the first month, and are reduced automatically every month afterward. All of tokens minted in this period will be released immediately.

Although WIGO has a 2 billion hard-cap, Buyback, Burn & Reward mechanism prolongs the time to reach the hard-cap. Assuming no tokens are burned, it will take about 33 months to reach the hard-cap. The more tokens burned, the longer emissions, but the total supply of WIGO will never exceed the hard-cap.