A new coin from an old-time project is gaining a lot of steam lately. Despite WaykiChain having successfully launched their first token in 2018, it seems that they still have more advancements in mind.
WGRT is the governance coin for WUSD stablecoin platform. But what makes this a prized asset is that unlike other governance tokens, WGRT actually gets more scarce as time goes by. This makes it a good store of value.
A lot of investors have been talking about a potential token launch in the coming days. None of them have been substantiated yet, but the WaykiChain team has been giving off hints on twitter, stating:
“Something big about WaykiChain WGRT is going to happen in 12 days!”
They’ve tweeted two WGRT countdowns with this message without specifying the details. Could it be that they still haven’t finalized the IEO or listing? Furthermore, the Foundation has also released a WGRT explainer video that talks about the basic functionalities of the governance coin.
Most users would think that the most probable reason why Waykichain is focusing to raise awareness on their governance coin is that they have a big listing coming up. All their recent activities seem to point in that direction.
In fact, a lot of Chinese crypto users are certain that this is gonna happen sometime next week. And several WaykiChain supporters are keen to get their hands on WGRT, which is no surprise considering the benefits entitled to its potential holders.
Why WGRT is so valuable
The governance coin plays a key role in keeping the system in check through stable fees and liquidation penalties. Apparently, the holders will also receive a share of the revenue generated from these fees.
As long as the system operates normally, WGRT will continuously be purchased and burned, which enables the coin to rise in value as time goes by. This is the main reason people are so interested in the asset.
That, and the fact that being a governor entitles you to make changes to the parameters of the system. Any WGRT holder can submit proposals as long as they can lock up at least 210,000 coins. Ultimately, the other governors will vote on whether or not a proposal is passed and becomes ingrained in the system.
A total of 21 billion WGRT will be issued during launch, and would initially be sold at $0.01. A portion of the supply (30%) will be allocated to the system risk fund, technical R&D budget for the team, as well as in getting listed on first-tier exchanges. The last one is likely already in the works.