NEW YORK, USA, June 28, 2021 /EINPresswire.com/ — Wis.com today announced the launch of its new Decentralized Finance (DeFi) Protocol. The Wis protocol has been audited and implemented additional security measures that other DeFi projects have not.
Similar to PancakeSwap, Wis offers many DeFi features. The Wis Protocol is an Automated Market Maker (AMM), allowing users to trade cryptocurrency without an order book. Wis Protocol is a group of smart contracts with functions such as swapping, minting, and distributing tokens. Users on Wis can earn money by staking, contributing to liquidity pools, and by yield farming. Wis uses smart routing to ensure that clients will receive the best swapping rates, slippage, and price impacts available. The Wis DEX utilizes a Pancakeswap fork for liquidity.
AMMs are exchanges that allow users to trade digital assets against liquidity pools and collect yields. In the AMM, a user lends their digital assets to liquidity pools, and in return, they receive liquidity tokens that they can then stake to earn more digital assets.
Wis has improved upon the PancakeSwap model by removing the â€œrugpullâ€� migrator code.
â€œPancakeSwap forks inherited a back door called the Migrator. We believe that no one should have that power. Therefore, we removed the code from our smart contract,â€� said a spokesperson for Wis.
Wis has also added an AntiHack logic to combat the possibility of flash loan attacks.
â€œAn attacker can borrow a large sum from a Flash Loan provider and abuse the smart contract,â€� added the Wis spokesperson. â€œWe fixed this issue by using an AntiHack logic which prevents all smart contract calls to critical functions except from whitelisted smart contracts.â€�
#WIS tokens can be purchased or earned as a liquidity provider and through staking. The current circulating supply of the $WIS token is 4,350,000. The total supply is 11,100,000 with 2,800,000 burned. There are 3,950,000 total locked $WIS tokens. The tokens have an emission rate of one per block, 10,512,000 per year, 3,512,000 burned per year, and an effective yearly emission of 7,000,000.
For more information about the Wis Protocol and the $WIS token, visit wis.com.
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