Wingriders, the largest decentralized exchange on the Cardano network, announced The launch of its governance token, WRT, on 14 July. A key advantage for future WRT holders, according to the token’s lending site, is its voting power, which enables the ability to initiate and vote on key decisions in the operations and development of Wingriders.
Riders, we are thrilled to announce the date of our TGE confirmation!
July 14, 10am UTC
Prepare your wallet – go, go $WRT,Wingriders is the biggest #cardano DEX by both TVL and Vol. We are building a DeFi hub that meets the needs of this L1 community of ours!
more👇 pic.twitter.com/TE4DEj313C
— wingriders (@wingriderscom) 11 July 2022
For example, DAO members will be able to influence platform protocol parameters and determine the size of the commission and which features or farms to add. By holding WRT, users will receive increased returns, an increased chance at an airdrop of new tokens, access to vital information and membership to the Wingriders clan.
WRT Tokenomics and Usability
Everything is clear with the governance features of WRT; Not too surprising here. Let’s turn to the nature of tokens. What is this?
The supply of WRT is limited to 100 million tokens, so it is deflationary. That said, it would be possible to farm tokens, albeit to a limited extent of 40 million. WRT can be used to buy NFTs and cryptocurrencies at a discount against regular trading pairs. WRT can also be used as collateral currency for agents visiting Wingriders.
Eight million WRT will be available for public sale, while 12 million WRT will be distributed privately. It is also important to note that tokens publicly offered through whitelisting, DAO Maker, Occam and Vent will be locked for two months, while WRT sold in private rounds will be locked for three months.