June is here and it is a big month for WingRiders — we have commenced our public sale process with our whitelist closed this week. The aim of the whitelist was to support our early adopters and those who got behind the project from the start. We had thousands of participants! Now we are going through the process of KYC checks and payments, which will take an additional week or so. If you have finished your KYC process by 31.5.2022 23:00 UTC you have automatically entered into our lottery for 10,000 ADA. Winners will be announced tomorrow.
If you haven’t yet completed your KYC you are no longer eligible for the lottery but you still can conclude the KYC and payment.
Now, onto the next stage. Our IDO sale process is commencing. We have 3 IDO partners, as mentioned previously. We have announced the first of our IDO platforms — OccamRazer, today we will announce our second, with one further to come. The third is a big surprise, we think they will be a big help in expanding the Cardano ecosystem, so get ready!
In selecting our IDO partners, we took into account our community voice via pre-dao voting on Discord. The overwhelming request from you as our community was a mix of ICO/IDO, and we have done our best to support that despite this costing us some additional dev time and roadmap slip. We have tried our best to work with the IDO platforms voted, however, once we went through due diligence and contract negotiations of those among the top positions, we were left only with 2 clear winners from the list and 1 outside the list. The one outside of the list is a platform which we were striving towards since project’s beginning. The announcement will be done next week.
For the sale, it was important to us that public sale participants were all on a similar footing, so these will all have the same conditions. 1st day 15%, 2 months lock up, 12 months overall vesting, price 0,45$ this means:
- TGE with 15% initial unlock, meaning that 15% of the tokens shall be unlocked and distributed at the 1st day of TGE;
- Two (2) months lock up, meaning that the proportion of 85% of tokens for first 2 months (14.17%) is distributed two months after the TGE (60 days after TGE event date);
- After the initial unlock and the two months of lock up, the rest of the token amount is vested linearly across ten (10) months (7.08% of tokens each month); meaning that 100% of the allocation shall be distributed in twelve (12) months after the TGE date;
- 1st day tokens are delivered via Airdrops, vesting is done via smart contract claims (these are conditions for whitelist, IDOs might differ).
At TGE tokens will be distributed via multiple blockchains — this will help with 1st day congestion, and will further diversify the token holders and expand the Project’s footprint and user base. Our aim is to conclude the token sale before the end of June. Thus the TGE would fall into the first days of July. We are cautious that there are multiple dependencies working with multiple partners, so we are aware there may be date slippage. We feel comfortable that even in the case of major slips the date of TGE will be earlier than 15.7.2022. A fixed date will be announced during June.
Farming Rewards unlock
Those who have provided liquidity do not yet have access to their farming rewards. These will get unlocked at the moment of TGE. We are aware of the potential concern of some of the community that a large number of farmed tokens being released at the point of the TGE could negatively impact price (creating a dump scenario from the farmers on the public), therefore, we will release up to 2,000 WRT for all farmers on Day 1 this covers approx 95% of farmers so far. These will be delivered via an airdrop.
For the remaining 5% of farmers additional unlocks will be every two of days (2) by a maximum of 2,000WRTs at a time per unlock until the full amount is released. This practically means that the absolute majority of farmers will have their tokens unlocked in a matter of approx the 1st week.
Just to set mathematical boundaries everyone will have everything at their disposal in max. 6 weeks, if theoretically needed by increasing the unlock for them above 2,000WRTs per 2 days.
The aim of all this is to balance all the groups (Seed, Private, Public, Farmers) and their initial overall disposable liquidity per group for the first day of trading.
There’s a lot happening in June for WingRiders. Undoubtedly we will have further updates this month, of both new features, new rewards, IDO details and project news — stay informed by following our official social media channels. As always, we are open to feedback, suggestions or discussions about any of the things mentioned above, or any other topic. Keep in touch with us via Discord.
The WingRiders Team
Original Source: https://medium.com/@wingriderscom/sale-tge-5fee15eefb6a
Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.
PrivaCrip to Power a Blockchain Network That Could Follow Cardano & XRP
When the first decentralised blockchain was popularised in 2008 by Satoshi Nakamoto, the door was open for people across the globe to transact more securely and seamlessly. Many blockchain networks have been built and powered by native crypto tokens, including PrivaCrip (PRCR).
Native tokens exist for several reasons. Aside from acting as digital currencies, they perform various functions. Helping blockchains improve data traceability, security, transparency, and trustworthiness shared throughout the network. They also assist in reducing costs through their ever-evolving efficient methods.
Cardano (ADA) and Ripple (XRP) are among the best blockchain-based cryptos that this article will discuss. We will also look at how PrivaCrip (PRCR) will power a blockchain network set to launch into the crypto space.
Top Tier Crypto Makes its Mark – Cardano (ADA)
Cardano (ADA) has been around in the crypto space since 2017. The Proof-of-Stake (PoS), Ouroborous Cardano (ADA), was established using a research-based methodology.
Research is the backbone of Cardano (ADA) and is integral to its success in the cryptocurrency market. Cardano (ADA) uses an evidence-driven mechanism and peer-reviewed research to run its ecosystem to drive its evolution.
Among many things, Cardano (ADA) helps establish DeFi products and provides a suite of financial solutions. Crypto enthusiasts can stake Cardano (ADA) for a chance to earn rewards for their holdings.
With 2022 providing challenges in cryptocurrencies across the globe, Cardano (ADA) is one of the few cryptos to see a surge in on-chain trading volume this year. CoinMarketCap lists Cardano (ADA) as the 7th largest crypto by market capitalization at the time of writing.
Making Waves – Ripple (XRP)
Launched in 2012, Ripple (XRP) is a leading provider of crypto solutions for businesses. Ripple (XRP) provides developers with a solid open-source foundation for executing demanding projects. It is fast, energy-efficient, cost-effective, and reliable.
The solutions provided by Ripple (XRP) enable developers to solve inefficiencies, including asset tokenization and remittance. Therefore, individuals and businesses may apply Ripple (XRP) for DeFi, payments, tokenization, and more.
Crypto enthusiasts with a long-term focus may find Ripple (XRP) a valuable investing tool. Token holders can use Ripple (XRP) for staking its mainnet platform for a chance to grow their earnings and maximise profit.
The New Face Of Privacy – PrivaCrip (PRCR)
The soon-to-launch PrivaCrip (PRCR) is a cryptocurrency built for Web3 data privacy. It will allow users to develop and use permissionless and privacy-preserving applications. This unique feature of PrivaCrip (PRCR) secures apps, protects users, and fosters the creation of many new Web3 uses.
PrivaCrip (PRCR) will drive a blockchain that creates a more empowering and inclusive internet. It will enable developers to build secure dApps using private contracts based on original privacy research (OPR) to revolutionise Web3.
PrivaCrip (PRCR) will begin pre-sale soon and has an initial token price of 0.10 USD. According to the whitepaper, there will be a total supply of 190 million tokens, of which 40% of the total supply will go to the pre-sale.
Crypto enthusiasts who purchase PrivaCrip (PRCR) during the pre-sale will receive the most significant long-term rewards and bonuses. Those who buy with Bitcoin (BTC) will receive a 10% bonus. Also, those using Ethereum (ETH) to purchase will receive 15% of the total PrivaCrip (PRCR) they purchase as a bonus.
10% of PrivaCrip’s (PRCR) total supply is up for distribution as staking rewards, meaning that token holders who stake will receive rewards for their contribution to the crypto’s advancement.
Blockchain networks are continuously evolving, and so are the crypto tokens that power them. Cardano (ADA) and Ripple (XRP) have contributed tremendously to the success of their blockchain networks, gathering mass appeal.
PrivaCrip (PRCR), for its part, will drive a security-enabled blockchain and scalability in private DeFi, empower data tokenization, and bring together a fast-growing community. Acting on its promise, it has the potential to become the next big mover in cryptocurrency.
For more on PrivaCrip (PRCR), check below:
Cardano (ADA) Withdrawal Fees Waved by Bitrue Exchange
Singapore-based cryptocurrency exchange made Cardano one of its base trading pairs earlier this year
Singapore-based cryptocurrency exchange Bitrue announced that it had temporarily waived withdrawal fees for the Cardano (ADA) cryptocurrency.
The trading platform says that the move is meant to celebrate the support it received from the community behind the cryptocurrency.
Users will be able to withdraw ADA without paying any fees until mid-September.
Bitrue has stressed that it wants users to have “as much choice as possible” when it comes to custody options. Those who want to hold their ADA tokens will not be able to do so without paying an additional commission.
At the same time, Bitrue has touted its “Power Piggy” yield-farm investment program for those who want to earn passive income with ADA.
As reported by U.Today, Bitrue introduced the token as its base currency back in February.
In June 2021, it also became the first cryptocurrency trading platform to add support for Cardano-based native tokens.
Last month, Bitrue also announced a staking initiative with the ADA cryptocurrency. It decided to contribute a million tokens to some of the top Cardano staking pools in an effort to boost the level of decentralization.
Earlier this year, SundaeSwap (SUNDAE), the native token of the SundaeSwap exchange, also became available on Bitrue.
WingRiders Losses 59% Of Its Total Value Locked, Plunges Cardano TVL Below $100M
Popular Cardano-based decentralized exchange WingRiders has lost its position as the most valuable DEX on Cardano.
WingRiders slumped from the first position to third after losing more than 59% of the total value locked (TVL) on the platform in the past 30 days.
At the time of writing this line, WingRiders is now the third-largest DEX by total value locked, with a TVL of $19.66 million. It is noteworthy that WingRiders maintained the top spot for more than two months, claiming 42% of TVL On Cardano. However, the DEX has fallen from glory ever since.
Minswap Is Now Cardano’s Most Valuable DEX
The development also affected the total value locked on Cardano. The total value locked on Cardano has fallen below $100 million in the last 30 days after the WingRiders TVL slumped.
Interestingly, Minswap has taken the lead to become the most valuable decentralized exchange on Cardano after the massive decline of WingRiders’ TVL.
At press time, Minswap is leading, with a $49.09 million total value locked on the platform. The DEX hit the milestone after recording a massive growth of 30.9% in its TVL in the past 30 days. Minswap accounts for 51.82% of the total value locked on Cardano.
SundaeSwap, the first decentralized exchange on Cardano, is now the second most valuable DEX in the ecosystem. SundaeSwap is second in the ranking, with $19.72 million in TVL.
Like WingRiders, SundaeSwap has also lost a significant amount of its TVL over the past 30 days. In the past month, SundaeSwap has lost nearly 10% of the funds locked on the platform.
Commenting on the development, Cardano Daily, a platform that shares new developments about Cardano, said:
“After the major decline of @wingriderscom, the TVL scenario of the Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem.”
CARDANO TVL STATUS
After the major decline of @wingriderscom, the TVL scenario of the @Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem#tvl #cardano $ADA pic.twitter.com/xjZ6cHo8jX
— Cardano Daily (@cardano_daily) August 9, 2022
– Advertisement –