moderator : Great! And before we start the AMA main segments, we really want to know some little informations about yourselves. Could you do a little introduction for us to know better about you Mr. Vincent?
Vincent : I have a multidisciplinary background, including statistics, electronics, project evaluations, and business. I have been working with blockchain companies for three years. Waykichain is a Decentralized Finance (DeFi) company from Hong Kong, and I am their global partner. I made a business deal with https://www.avionejet.com/en, and now anyone holding waykichain coins is able to rent a private jet, helicopter, and organize any kind of tourism activity, including health-related air rentals anywhere in the world. I made that deal with a cold call and followup calls. I also convinced atlasmimarlik and vintagealacati hotels to accept the Waykichain stable coin as payment. I have been organizing meetups and making presentations for waykichain
I consider myself lucky as I got into crypto in 2017, and I was able to invest some of my savings back when bitcoin was cheaper. I believe a lot of people get into crypto for that, and waykichain coins are still undervalued, and investing in them is smart. Especially WGRT is cheap, and I personally expect it to increase significantly
moderator : Then, Please say something about your project as well. We’re so excited to hear more
Vincent : Waykichain is one of the largest companies in Hong Kong and China, and they are very well known by millions of people.
Since 2019, they are now known in Europe, Russia, Iran, and other countries as well. It is a very global company. We hope that with this AMA, it will be known in Indonesia as well.
At first, waykichain was focused on dAPPs and had millions of people using their decentralized apps in China. They even gave a helicopter as the prize to a winner during 2018 soccer world championships, and you could get a 2.5 kg gold football if you wanted. After working on dAPPs, waykichain decided that DeFi, decentralized finance is the future. In 2019, they moved onto their mainnet and started working in DeFi. The defi in waykichain is based on the 1st layer of their code as opposed to the smart contracts of the eth based defi platforms. There are many advantages of having a C++ code for defi, as it is the blockchain code.
Waykichain is very safe, and it has a powerful decentralized oracle that defies any odds.
We are now all focused on DeFi, Decentralized Finance. WGRT is the key coin for our DEFI
moderator : So, tell me reason why users and investors should invest to WaykiChain? What are the benefits of holding WICC or WGRT in long-term?
Vincent : Sure, we strongly suggest a long term holding, or HODLing of WGRT and WICC coins, and our defi will make sure that the WGRT price will increase
Vincent : Waykichain has a 3 coin economy model, made up of WICC, WUSD, and WGRT. WGRT is a deflationary coin because it is burned every time a CDP is closed, so I expect its price to increase at least 10x from its initial IEO price of 0.003 USD per coin, and it is already 0.023 USD. Its alternative Maker’s ROI, return on investment at the launch price is 1,319.40%. This is the approximate return on investment if purchased at the time of launch. As the all-time low value was $21.06 on Jan 30, 2017, and the all-time high was $1,773.92 on Jan 18, 2018, one can clearly see the price increase of a governance coin. I expect WGRT to have the same performance as waykichain is very popular in Asia. Since 2019, WICC’s price increased from 0.08 USD to now 0.25 USD. DeFi is the hottest trend, a buzz word, but waykichain has been doing it since 2019 with its mainnet.
Vincent : sorry, at launch, the price was 0.003 USD, now it is 0.023 USD. So 10x already, we are on our way to higher heights.
moderator : What are the objectives and goals that you plan to achieve in the near future?
Vincent : Yes, governance coins increase like that, because they have great utility in a defi platform. If people use defi, the governance coin moons 🙂
Vincent : I would like to see more people borrowing and lending using the CDP system of waykichain defi. This will increase the WGRT price, and I actually want real businesses to borrow cash from waykichain using WICC, ETH, or BTC as collateral.
Waykichain is already global, and we would like to help anyone get out of the bank’s grip and help people who cannot get credit from anyone. Microloans are possible, and even reputation based lending is in the future. However, the near future target is to get synth versions of btc, eth, eos, etc., and the USD stocks traded on our waykitimes app. It is already being tested, and you can download the waykitimes app and join our airdrop to get 50 000 USD worth of synths to play around and test the system.
Moderator : So, let’s we run the second session now.
Moderator : Q1. From @cantikamaliaaa
A few days ago I read that Tron Co Founder Liu Ming joined #WaykiChain
Does that make a big difference to WICC / WGRT?
If so, can you explain the details?
Vincent : Sure, he is one of the Tron founders, and he is very strong in the areas of theoric developments in the blockchain field. Liu Ming joined the WaykiChain team as a global ecosystem development consultant. He will empower the WaykiChain DeFi ecosystem, and the token WGRT will help with the promotion of WaykiChain International Marketing and help with designing DeFi products. We believe he will add to the waykichain technical team and help us increase our ranks in the defi world.
Moderator : Q2. From @aliandosyarif09
What are the most innovative features from the Tiger phase of Wayki chain that we as users could experience?
Vincent : For an average user, the most critical aspect is the cross-chain solution. You can now use ETH and BTC as collateral to borrow stable coins. We also have USDT and WICC conversions coming up very soon. Using USA and Hong Kong stocks right from the waykitimes app is excellent as these transactions had considerable friction, now they are accessible with waykichain.
The best feature of waykichain is that soon you will be able to do everything you could do with a regular bank. We are a one-stop-shop decentralized finance platform.
We have our complete decentralized oracle and WASM virtual machine. Having WASM is important for developers, and they will be able to write smart contracts on waykichain. We already have Lua, but WASM is easier, and it is more widely known by developers.
Vincent : Soon you will be able to do everything using our small footprint app, waykitimes.
Vincent : I mean everything you can do with a regular bank.
Moderator : Q5. From @brock_storm
Many public chains are pushing towards DeFi. For example, TRON also launched its JUST project this year. What do you think of the advantages and opportunities of WaykiChain on this track?
Vincent : We have the greatest advantage of running defi on our 1st layer, as opposed to smart contracts. Unlike Tron, waykichain has defi on its genes. In other words, it was built with defi in mind. Any blockchain built for defi will be more robust compared to payment chains such as Tron. Security is the most important aspect when it comes to defi, as you can see from all the exploits and hacks this year with the smart contracts taken advantage of. That is one of the reasons good oracle projects are going crazy with their price. Waykichain has its own decentralized oracle (patent pending) and we do not need the help of an oracle like other chains who try to get into defi as an afterthought. Waykichain was built with its own oracle!
Moderator : Second session is ended. Next, we will proceed to the third session. Which maybe is the hardest session.
Member : What are the differences between WUSD and other stablecoins on the market? zlw?
Vincent : WUSD already has many uses and it is backed by crypto, meaning it is backed by code. You do not have to trust an entity as in trusting USDT (tether) and it has better circulation. As you can see in the pin here and in the pin in our official waykichain group, WUSD already has many pyhsical uses. One of them is purchasing US and Hong Kong stocks. Another one is getting into a high end hotel with a 20 percent discount. Because WUSD is very decentralized, and it is the backbone of waykichain defi, the transactions should be fast. And they take less than 3 seconds! When I first paid for dinner using WUSD, it took about 1 second for the money to go through.
Vincent : Also, you can use WUSD to send WUSD. You dont need to purchase any other crypto. And of course, you can use WICC to send WUSD as well.
Vincent : The other day I sent ETH and it took about 10 minutes to go and charged me 2.5 USD per transaction!
Vincent : Borrowing WUSD from our defi system has great advantages with low APR and flexibility
Member : One major source of problem in DeFi is smart contract vulnerability, which has lead to loss of funds, what steps have been taken WaykiChain to fix this major problem and avoid future occurrences ?
Vincent : Yes, very good question. Waykichain is a 1st layer solution, which means that for its defi, it is not using smart contracts. Instead, the defi solution is built on its C++ code, and since blockchain cannot be modified, hacked, or tempered with, we are on solid ground. During the March events when defi projects were hacked or exploited, we stood our ground and even flourished. You can see this from the 40 million WICC locked in our defi platform. Many projects that were exploited turned to outsourcing their oracles, but since waykichain already has a patent pending oracle, we were just fine. We just improved our oracle and made it better. Here is my article on this: https://hackernoon.com/how-to-avoid-exploits-and-hacks-using-proper-decentralization-aq1t3dm9
Member : Can you give an overview of WaikyChain tokenomics? Will the design of the token rise and fall with the success of the platform, does it include any scarce paths, such as equity, storage or burning?
Vincent : Sure. WGRT is the governance coin of the 3 coin economy and it is burned every time someone brings back their collateral. The way it works is that WUSD is paid as the stable fee, and the equivalent WGRT is purchased from the market and burned. The same is true when the pledger borrows, but the collateral rate goes down, and the collateral is liquidated. In this case also, WGRT is borrowed from the market and burned. Either case, WGRT value is expected to increase. WICC is the utility coin, it was the first coin to come out, and WUSD is the stable coin, and it is always equal to 1 USD.
Vincent : You can read more about WGRT on https://www.waykichain.com/WGRTWhitepaper.pdf
Website : www.waykichain.com
Telegram : https://t.me/wiccofficial
Twitter : https://twitter.com/wayki_chain
Waykitimes : http://bit.ly/IOSwayki
Waykimax : http://bit.ly/waykichrome