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xWLRS
xWLRS is an illiquid token that add's deeper value to current WLRS holders
xWLRS is illiquid and cannot be redeemed back into WLRS at any point. Please understand this means it is a sunk cost as of right now. We will potentially be offering a liquid pair when Glacier Finance(DEX) is released.
xWLRS is an illiquid asset that will provide new utility to the WLRS token. xWLRS will launch at a 1:1 mint rate(1 WLRS will mint 1 xWLRS) and will logarithmically go up in index(exchange rate for WLRS/XWLRS) based on total supply of xWLRS. For example minting 1 xWLRS will cost 1 WLRS today but in 1 month it could cost 1.2 WLRS for each xWLRS to be minted. This paired with the burn feature should cause price appreciation to WLRS over time. This means early adopters will be able to get a better exchange rate for the new token.
Minting XWLRS will be available through a DAPP located on our main webpage. Allocations for each WLRS minted into XWLRS can be found below:
- 25% of WLRS is burned
- 75% is sent to a reward contract
As an xWLRS holder you will now be able to enter the xWLRS farm via Frozen Walrus Farms for WSHARE. This will be the HEAVIEST allocated farm for the foreseeable future. It is important that we make sure risk are met with equal reward and Frozen Walrus feels this to be a perfect balance for adopters of this new token.
Now that we have a new heavily allocated farm we need to address the 75% of WLRS now in a reward contract. Starting at the launch of XWLRS we will now heavily reduce allocations to the WSHARE/USDC.e pool giving it minimal allocations to offer a new reward pool for WSHARE/USDC.e holders to gain from the new xWLRS minters via the WLRS in the reward contract. This will be a permanent pool. This now means WSHARE holders will always have a way to earn WLRS no matter market conditions.
The purpose of xWLRS is to give permanent utility to WLRS and the entire ecosystem by the below benefits:
- WLRS now has value to become the highest allocated pool by minting into xWLRS
- xWLRS index in constant rise means there is always no better time to mint in then right now giving positive price action to WLRS along with a permanent supply decrease
- WSHARE/USDC.e pool will now constantly yield WLRS and as a holder of this LP it will be extremely beneficial allowing users to compound early WLRS into XWLRS again completing the loop.
- WSHARE can now gain WLRS from boardroom and when its not printing there is now oppurtunity to still yield.
There is always risk in DEFI and I always try and educate all investors to ensure FOMO does not outweight sound investments. Please understand XWLRS is a locked investment at launch, meaning there is no potential to become liquid on this asset to start. Along with this, there could be a time where xWLRS isn't being minted and rewards may decrease to the WSHARE/USDC.e farm causing lower than intended APR's.