A brief description on both $WLRS and $WSHARE
Note that WLRS actively pegs via the algorithm, it does not mean it will be valued at 1 USDC.e at all times as it is not collateralized . $WLRS is not to be confused for a crypto or fiat-backed stablecoin.
Walrus token ($WLRS) is designed to be used as a medium of exchange. The built-in stability mechanism in the protocol aims to maintain $WLRS's peg of 1 $WLRS : 1 $USDC.e in the long run.
Contract address: 0xe6d1aFea0B76C8f51024683DD27FA446dDAF34B6
Walrus Shares ($WSHARE) are one of the ways to measure the value of the Frozen Walrus Protocol and shareholder trust in its ability to maintain $WLRS close to peg. During epoch expansions, the protocol mints $WLRS and distributes it proportionally to all $WSHARE holders who have staked their tokens in the Boardroom.
$WSHARE holders have voting rights (governance) on proposals to improve the protocol and future use cases within the WLRS money ecosystem.
WSHARE has a maximum supply of 60000 tokens distributed as follows:
- DAO Wallet: 11500 WSHARE over 12 months (500 sent at launch)
- The airdropped amount can be used for early LP to help stabilize prices.
- DEV Wallet: 5640 WSHARE over 12 months (360 sent at launch)
- For giveaway winners, and payments.
- Farming Rewards: 33722 WSHARE
- Emissions for WSHARE will end May 2023
Contract Address: 0xA7D7079b0FEaD91F3e65f86E8915Cb59c1a4C664