WETUX to work on a new open liquidity framework
Montreal, Canada, Aug 8, 2022, As the general market is facing a looming recession, liquidity is tightened and pains are observed across the board. The current circumstances highlight the importance of open liquidity in the market. Wetux, the latest builder to join the Web 3.0 movement, sets out to improve the status quo by focusing on opening up and enhancing the capital efficiency and liquidity of the neo-economy, especially crypto-assets.
In particular, Wetux focuses on two operational pillars, namely Onchain Extractable Value Bot and FlashLoan Pooling. These are proven strategies that attain capital efficiencies, but it is not technically trivial to pull off. In fact, implementing these strategies both on-chain and off-chain require significant tech prowess. The next prerequisite in deploying these methods on the various main-nets are capital reserves. The greater the reserves, the more flexible the deployment, and the more profitable the executions will be. To this end, Wetux offers the crypto community staking options, wherein everyone can put their idle crypto-asset into the shared capital reserves and collect a portion of overall profits.
It is important to notice that while their staking options may appear somewhat similar to the popular yield farming options, they are not the same. On the similarity, users can stake the Wetux’s native token (also named WETUX), and earn the interest payable also in WETUX based on their staked capital. Nonetheless, the difference is that the stake capital in their program is actually put to work in our On-Chain Extractable Value and FlashLoan Pooling operations. Their mechanisms that employ these cash flows are arguably more proactive and thus sustainable than yield farming platforms.
Let us dive a little deeper into the tech behind Wetux’s On-Chain Extractable Value mechanisms. Their servers actively scan the pool of pending transactions across the many DeFi services on different blockchains, identify profit-making ones, and preempt them, and thereby collect the profit. While this sounds easy, accomplishing this requires a mastery in data indexing, high-speed execution, and optimal routing. The first two pillars are pure technological-knowhow, while the last one, namely optimal routing, necessitates numerous simultaneous trial-and-error so as to pick the best route. Wetux’s approach towards implementing the last pillar involves enlisting a cohort of PCs, so that they can run the trial-and-errors in parallel, based on such collective efforts the optimal route can be found. Anyone who has a spare PC can join the cohort and earn WETUX simply by running the Wetux Router application (currently available for MacOS and Windows). This strategy of enlisting the power of the mass stays well in line with the underlying reasoning of the open economy.
The Wetux whitepaper reveals that the proceedings from the aforementioned activities are split into three portions. The major one is reserved for staking rewards payable to the retail investors on our platform. Another portion is used to buy back WETUX tokens on the open market, and burn them off, thereby reducing the supply and facilitating price appreciation. The final portion funds the active development of WETUX’s open liquidity framework with the Web 3.0 Neo-Economy being the ultimate beneficiary.
WETUX token is currently tradable on Coinsbit Exchange, and soon will be featured on indexing services including Coingecko and Coinmarketcap. The Staking options are expected to go live in the first half of August.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Economy Jack journalist was involved in the writing and production of this article.