About WOWswap AirdropAbout
WOWswap Airdrop is a decentralized leveraged trading protocol built on Ethereum, Solana, Arbitrum, Avalanche, BNB Chain, IoTeX, Polygon and HECO Chain. With WOWswap traders can buy and sell their favorite tokens with up to 5X leverage by borrowing extra capital from the lending pool.
WOWswap is airdropping a total of $10,000 WOW to users who complete simple tasks. Sign up for the airdrop and complete simple tasks to earn up to 20 points. Each point is worth $1 worth of WOW tokens. The rewards will be distributed after the end of the airdrop.
| Platform | Airdrop End | Max. Participants | Website |
|---|---|---|---|
| Binance Smart Chain | 2022-03-31 | Unlimited | Click Here To Visit |
LEVERAGED SWAPS ON PANCAKESWAP
WOWswap is a decentralized leveraged trading protocol built on Ethereum, Solana, Arbitrum, Avalanche, BNB Chain, IoTeX, Polygon and HECO Chain.
With WOWswap traders can buy and sell their favorite tokens with up to 5X leverage by borrowing extra capital from the lending pool.
Liquidity providers can supply stablecoins or major crypto assets to the lending pool and receive interest paid by the traders.
Token Distribution
WowSwap is a community-driven project: 55% of WOW tokens will be distributed to liquidity providers, margin callers, and traders for contributing to the protocol’s expansion. Team tokens are locked and vested over a period of 18 months.
What is xWOW token?
To participate in WOW DAO users need votes, represented by non-transferable xWOW tokens, which users get in exchange of staking WOW tokens and/or Pancakeswap LP tokens (WOW/BNB and WOW/BUSD) in the Governance smart contract.
xWOW token is used for voting and WOW DAO reward distribution. Governance rewards are distributed proportionally among all xWOW holders. Staking by itself is sufficient to get WOW DAO rewards, no actual voting is required.
The number of xWOW tokens received for staking Pancakeswap LP tokens is 1.5 times higher than for staking WOW tokens, because obtaining LP tokens requires 2 times more liquidity (WOW + BNB or WOW + BUSD).
Also, the number of xWOW tokens depends on the length of the staking period, during which the tokens will remained locked: the longer the period, the more xWOW are issued for the same number of WOW / LP tokens.
How does the WOW DAO work?
Users can vote on critical protocol parameters that define the protocol’s security and profitability. These parameters can be changed on-chain with permissionless governance, that counts every vote and adjusts the protocol’s parameters without any downtime.
The procedure is fully automated, and parameters are updated instantly. In order to vote, WOW token or WOW liquidity token holders (on Pancakeswap) will stake their tokens to receive xWOW – non-transferable governance tokens.
The scope of WOWswap DAO includes:
- 1. WOWswap Financial Parameters- defines all major financial parameters of the protocol.
- 2. Economic Parameters – defines how WOW protocol generates revenue and redistributes it.
License.
WOWswap believes that decentralized finance projects should be transparent, composable and open-source, so that everyone can contribute to their development. However, it would be fair to WOWswap community, if WOWswap would have some first-mover advantage to build an ecosystem based on WOWswap V1 codebase and associated intellectual property.
Therefore, WOWswap V1 will launch under the Business Source License 1.1, which is a time-delayed GPL-2.0-or-later license. This license limits the usage of the V1 source code for commercial and production purposes for one year (until the 12 th of April 2022, at which point it will convert to a standard GPL license.