Wault Launch Review and Increased Staking Rewards

As many of you know, yesterday’s official launch of the DApp and $WAULT token was an immense success! After being available to the public for only one day, here are some stats of what we’ve achieved:

• 16.37M(million) Total TVL. Of which:

i. 4.6M TVL is in Liquidity Mining

ii. 11.77M TVL is in Staking

iii. 6.5M of the Staking is locked liquidity.

• $37.34 $WAULT price.

• 2772% appreciation from the listing price of $1.3!

• 2371 wallets holding $WAULT.

• $11,921,059 market cap.

• 0.728 MCap/TVL

The crypto community has spoken and our users have made their desire clear — they want a yield-generating platform on BSC with genuine utility!

Turning Challenges into Opportunities

While we’ve reached significant milestones, at the same time, as the first platform attempting to bring many novel DeFi initiatives to BSC, our explorer role has meant that our efforts have on occasion, encountered unforeseen obstacles.

Many of you are aware that since launch, $WAULT token holders who have not staked on our platform have been seeing a continuous decrease of small amounts of tokens in the balances of their private wallets.

This was due to an abnormal issue after porting our code from Ethereum to the Binance Smart Chain, which in theory, shouldn’t have happened. After all, the issue doesn’t occur while running the codebase on Ethereum. Even so, it did happen, presenting a hiccup for us to deal with.

The mechanics are such that of the 3% transaction tax rate, the 0.8% that should’ve been spread amongst all token holders, was instead redistributed from balances within private wallets to the stakers on our platform.

You can imagine our shock when we first discovered this. Yet, when the unease settled down, we realized something — isn’t this a better implementation of the fee than what we originally intended?

We considered our initial motivation behind the fee mechanism: taxing bots, traders, and speculators who didn’t understand or care about our platform, and giving those taxes to our users. With that in mind, we realized that charging only private wallets, was an even more efficient method of accomplishing that!

At the moment, the 0.8% fee has better targeting and is more aligned with our intentions: redistributing itself from private wallets that mostly belong to bots, traders, and speculators, and spreading itself amongst all the stakers of our vaults! In other words, there is now even more yield for our stakers, the greatest supporters of our protocol!

You could also give an analog to the current fiat financial system. Keeping $WAULT tokens in personal wallets is like keeping cash under your mattress. It serves no use and only suffers loss through inflation. To earn value on your cash, you would need to invest it and accrue yield, which also allows it to create additional value within the financial system.

Moreover, isn’t this one of the fundamental reasons DeFi has taken off? With DeFi, instead of holding our crypto in cold wallets, we can now stake it somewhere and earn yield, take advantage of leverage, and help fund the growth of the ecosystem as a whole! And this is exactly what we want to incentivize with Wault!

Through the fee mechanism and the resulting higher APYs, we can further encourage holders to stake, allowing us to store more liquidity within our vaults. This will then lead to lower spreads on our LPs, and generate higher yields for our stakers through planned future initiatives.

So after speaking with our users in the Telegram chat and seeing they also supported the current fee mechanic, we made a decision — to turn it into a feature! So in summary, the adjusted fee was a blessing in disguise!

Regarding the details, the fee will add up to approximately 2.5% per day depending on the volume of transactions. On high volume days, it may be more and vice versa. The way it works is that every time a $WAULT transaction occurs that activates the protocol, 0.8% of that transaction size will be taken from the combined group of inactive wallets, which are those not participating in the protocol by staking or adding liquidity. Then, those tokens are redistributed to participants in the Liquidity and Staking Pools, creating additional yields. We call this — the inactivity fee.

Taking Care of Our Token Holders

While we believe this slight pivot will be to the benefit of all Wault holders, we understand that it was unexpected as well. That’s why for anyone whose tokens were redistributed, we will be reimbursing you using part of the funds from our Bug Bounty Reserves, providing up to 10,000 total tokens to anyone who failed to stake in time and encountered this issue.

The reimbursement will cover the tokens shifted starting from the token’s launch on PancakeSwap to the moment of this article’s publication. Afterward, the 0.8% fee will be considered a feature of the protocol. So please stake your tokens on app.wault.finance if you’d like to avoid the fee and receive high APYs instead.

The tokens will be returned over the next two months to give us time to go through all your claims in a proper manner. In order to receive your funds, please fill out the following google form. It will only be open for 48 hours from this article’s publishing time: https://bit.ly/3bESFAC

Thank you all for supporting us through a wonderful launch! We also have many promising announcements in the pipeline this week so stay tuned!

What is Wault Finance?

Wault Finance is a decentralized finance hub that plans to connect all the primary DeFi use-cases within one simple ecosystem on Binance Smart Chain. We believe the benefits of DeFi should be accessible to the masses but in an intuitive way; avoiding the expensive fees, confusing interfaces, and centralized decision-making of many current platforms. So with these goals in mind, we’re launching an effective and user-friendly yield generator and lending aggregator to provide immediate benefits to our users.

In addition, we believe in open and decentralized governance. That’s why WAULT token holders will be able to vote on and decide all aspects of the protocol’s future development path. Every developer is also welcome to work on and contribute to our open-source code. Come join the movement and help us advance DeFi on the Binance Smart Chain!

Receive updates and follow us at:

Website: https://wault.finance/

Twitter: https://twitter.com/Wault_Finance

Telegram: https://t.me/WaultFinance

Telegram ANN: https://t.me/waultfinanceannouncements

Discord: https://discord.gg/cDVXTBAvQz

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Wault.Finance is a decentralized finance protocol

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Wault.Finance

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Wault.Finance is a decentralized finance protocol

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