WOWswap will launch with the top 4 most liquid tokens on PancakeSwap for up to 5x leverage trading: CAKE, ETH, BTCb, and AUTO. Later the community of WOW token holders will be able to vote to add any token for trading on WOWswap.
What is Wowswap (WOW)
WoWswap is a fully community-owned protocol based on a simple idea💡: liquidity providers can create a BNB pool, and traders can borrow these funds to buy up to 5 times more tokens on Pancakeswap DEX.
Protocol fees, interest rates for lenders and borrowers, liquidation ratios, and others ⚙ are decided by holders of W😮W tokens — their governance token.
Making a W😮W swap is as easy as making a regular Pancakeswap — extra capital will be automatically borrowed from the liquidity pool.
In the example below with 1 BNB, you would be able to buy your favorite token for 5 BNBs, so you will receive 5️⃣ times more tokens.
Instead of the original token, you will receive a proxy-Token (for example, if you bought CAKE you will get wCAKE tokens), which is pegged 1:1 to the original in WoWswap’s smart-contract.
Proxy-Token will be converted back to the original token when you decide to close your trading position.
If the price of your token 🚀🌕, you can swap proxy-Tokens back to BNB and receive a multiplied profit. Hope, in this case, you won’t mind sharing a 5% of your profit that will go to ̶o̶u̶r̶ ̶L̶a̶m̶b̶o̶ ̶P̶i̶g̶g̶y̶ ̶B̶a̶n̶k̶ back to the community via the insurance fund (2,5%) and token buy-back and 🔥 (2,5%).
Sounds exciting ❗❓ Now, let’s talk about the 😢 part. If the price of your token goes 📉, below the liquidation threshold, then anyone can become a margin caller 👿 by triggering the liquidation of your trading position — in this case, you will lose all 💰 invested in the trade 🥵.
The BNB pool will still receive back borrowed funds plus the accrued interest, and the margin caller gets the rest of the funds as a reward.
The insurance fund. Wowswap make the best effort to make WoWswap as safe as possible for everyone, but in case of a black swan event some trades theoretically can be liquidated too late, so to mitigate possible losses for liquidity providers the protocol builds up the insurance fund, which receives 2.5% of every swap’s net profit.
WowSwap Review – Is WowSwap Legit
Wowswap is not a scam.
While high Ethereum gas price and Uniswap protocol’s high gas consumption naturally discriminate smaller players, WoWswap aims to serve the interests of every retail investor, no matter how large or small their initial capital is.
For example, even at 150 Gwei gas prices, an average Uniswap transaction costs from $50 (slow) to $75 (fast).
If you are planning to buy a token for $500-worth of ETH, you need the token price to go up 20–25% just to break even (2 swaps will cost $100-$150). Plus, in case your tokens don’t move much and you want to exit, you will lose all your $500 in 3-4 swaps like that 😒.
In WoWswap we believe your success should be determined by your skills rather than your starting capital. If you discovered a good project early, you should be allowed to make a bigger bet.
Of course, leveraged trading is extremely risky💀, but at least with W😮Wswap, you have a chance to prove yourself instead of slowly giving all your ETH to miners.
W😮Wswap runs on Binance Smart Chain on top of Pancakeswap 🥞 DEX and therefore has extremely low gas fees (cents, not dollars). The protocol allows you to take up to 5️⃣X leverage to trade your favorite tokens.
W😮Wswap has a fixed supply of 1️⃣,0️⃣0️⃣0️⃣,0️⃣0️⃣0️⃣ W😮W tokens, which are used for the protocol’s governance and community rewards.
👨🌾Community tokens will be distributed to the protocol’s users over a period of 18 months:
- 200,000 tokens will be distributed to liquidity providers
- 100,000 tokens will be distributed to leveraged traders
- 50,000 tokens will be distributed to margin callers
- 200,000 tokens are reserved for marketing activities, community contests, bounty campaigns, white hacking rewards, and airdrops.
📢Sale tokens will be offered to the public at a public sale price of 💲5️⃣ via our smart contract 0x1767102dc35b1593f39564a96aabbbd31fd302c2 🦄.
👨💻Team tokens have a vesting period of 18 months, unlocked quarterly.
⚡Initial liquidity tokens will be used to create a trading pool on Pancakeswap on March 1, 2021, at 🕘 19:00 (GMT+9). The listing price will be 💲8️⃣.
How to participate in the WOWswap WOW token Airdrop 1
To celebrate the WOWswap protocol launch they are distributing 3,885 WOW tokens to the first 777 participants who traded at least once on PancakeSwap before February 7th, 2021 on a first-come, first-served basis.
5 WOW tokens ($40 USD in BNB at public listing price) will be distributed to each qualified user just before the WOW token is listed on PancakeSwap on March 1, 2021, at 18:00 PM (GMT+9).
To qualify for the airdrop you need to:
- 1. Have traded on PancakeSwap at least once before February 7th, 2021.
- 2. Follow our official Twitter account.
- 3. Submit your wallet address and the Twitter username in this google form
How to participate in the second W😮Wswap Airdrop:
Wowswap first airdrop was a huge success — 18K+ members joined their Twitter community in just 1 day!
Of course, they won’t stop here, and today they would like to announce the second airdrop to our early supporters. Let’s grow our Telegram community like Wallstreetbets — we stand by the same values!
To receive the airdrop you need to:
8️⃣8️⃣8️⃣lucky members will be randomly selected from our Telegram group and will receive 3 W😮W tokens each (worth $24 at public listing price).
The lucky draw will be made on February 22, 18:00 (GMT+9).
The airdrop tokens will be distributed just before the W😮W token is listed on PancakeSwap on March 1, 2021, at 18:00 PM (GMT+9)
How to participate in the WOW token public sale?
230,000 WOW tokens are reserved for sale and 90,000 have been sold to private investors at $4.5 USD per WOW token with a 3-month lock-up.
140,000 WOW tokens are available for the public sale.
The public sale will start on February 25th, 2021 at 6:00 PM (GMT+9) and will last 72 hours, ending on February 28th, 2021 at 6:00 PM (GMT+9). The public sale might end sooner if all 140,000 are sold faster.
The public sale price is 1 WOW = $5 USD.
To buy WOW token you need to send BNB to WOWsmart contract – 0x1767102dc35b1593f39564a96aabbbd31fd302c2
The USD value of BNB will be automatically converted and an equivalent amount of WOW tokens will be sent to your wallet address.
The maximum participation amount per wallet is 100 BNB. If you send funds after the sale finished, your transaction will be reverted.
You can add WOW tokens to your Metamask wallet by going to Metamask, click ‘Add token’ → click ‘Custom token’, and paste the WOW token address: 0x1767102dc35b1593f39564a96aabbbd31fd302c2
Where will the WOW token be listed?
Initial liquidity tokens will be used to create a trading pool on Pancakeswap on March 1, 2021, at 19:00 (GMT+9). The listing price will be $8 USD in BNB per WOW.
WOWswap team will gradually increase the number of available exchanges to list WOW including centralized exchanges.
How will the token sale funds be used?
In order to bootstrap initial liquidity for leverage traders and accelerate the development of the protocol, they decided to make a public token sale.
To promote and bring adoption to the WOWswap protocol 90% of the total raised funds will be used to provide liquidity on PancakeSwap, protocol development, marketing, audit, and for BNB lending pool.
10% will be kept as a reserve for a further expansion of the protocol:
- • $400,000 for BNB lending pool to enable leveraged trading
- • $200,000 for continuous protocol development
- • $200,000 for marketing
- • $150,000 to bootstrap liquidity on PancakeSwap
- • $50,000 for smart contract audits
- • $105,000 kept as reserves
Trading cryptocurrencies come with calculated risk. don’t use money you can’t afford to loose.