Wise is a blockchain smart contract based on the concept of staking. The WISE contract allows users to stake in WISE and earn interest from the safety of their own private wallets.
In order to get the most out of WISE, it’s important to understand the basic concept and working of WISE.
Let’s get started.
WISE Token & Staking Concept
WISE aims to create a pure, decentralized financial (Defi) ecosystem that allows users to earn interest on their funds (principal) in a transparent and honest manner.
The WISE concept is simple: Reserve WISE by sending ETH to the contract and earn interest on your stake.
What is Staking?
Staking is the core of the WISE ecosystem. It refers to the act of holding (staking or locking up) WISE tokens in the wallet/contract to support the process and security of the WISE network, in exchange for which you receive rewards in the form of interest on your stake.
Staking in WISE is more profitable, flexible, and secure than traditional deposits like bonds. Also, you have complete control over your funds at all times and get the freedom to trade from the safety of your private wallets. Unlike bonds, WISE allows you to withdraw your interest or liquidate your funds even before maturity.
The WISE ecosystem is deployed on the Ethereum blockchain and works through the native WISE token (ERC-20). It is decentralized, transparent, immutable, liquid, and trustlessly
exchangeable. No longer you have to trust banks, governments, or third-parties with your hard-earned money or worry that the rules will be changed.
WISE is a pure, immutable code, where rules cannot be broken or changed.
Why is WISE needed?
The most important question to ask yourself before investing in any project is why would you or anyone need it. If you are wondering the same thing for WISE, here’s the answer.
Until now, we have no option but to trust private entities and third parties like banks to keep our money secure or invest in profitable instruments to generate rewards. To be honest, trusting a human or a centralized entity with your money is both risky and unwise.
WISE solves this problem by giving you a decentralized means for storing and investing your hard-earned money with guaranteed returns. The WISE contract ensures you always remain in full control of your funds, even when you’re staking, in a decentralized, transparent manner.
The most important thing to know about WISE is that it never gives the control of your funds/tokens to any other person. All the economic activities like minting of tokens, opening and closing stakes, interest generation, referral bonus distribution, and even selling of WISE is done from your private wallet so that you always remain in control of your funds.
WISE Benefits for Investors
WISE will allow investors to reserve WISE tokens in the contract during the 50-day launch period. Individual investors will be free to choose the length of their stake/s as well as the number of WISE they wish to reserve. In exchange for their stake, they will generate and get interested in the reserve period.
So, the first and main benefit of WISE is high interest over the staking period.
The second benefit is the flexibility to withdraw interest at any time and multiple times in the stake duration.
Another important aspect of WISE is huge liquidity, which will allow users to easily sell their tokens/funds when the need arises using the Uniswap DEX.
To know more, check out the WISE project White paper