Wanchain Community,
October has proven to be one of the busiest months to date for the Wanchain team. After many years of intense research and development, engineering breakthroughs, and lots of blood, sweat, and tears, the team is about to present the most prominent product yet - The WAN Bridge. Continue reading to find out more!
Wanchain 5.0 Deep Dive
Chapter 1: Wanchain 5.0’s WAN Bridges — Enabling a New World of Interoperable DeFi
For the past several years Wanchain has been building the infrastructure to power cross-chain DeFi use cases in a decentralized and trustless way. Our ultimate goal is not ONLY to connect various blockchains and digital assets together, but also to connect the world of decentralized finance together with traditional finance and assets. This new world where value flows freely from blockchain to blockchain, and between DeFi and traditional ecosystems, and where trustless applications can be built to take advantage of all this different interoperable value, we believe will be just as revolutionary a step forward as the introduction of the global Internet.
Wanchain 5.0 Highlights:
WAN Bridges are Wanchain’s decentralized, universal solution for trustless and permissionless cross-chain value transfer.
BTC, EOS, WAN, and more will be brought to Ethereum, and Ethereum assets will brought to Wanchain.
The first decentralized cross-chain bridge will be from EOS to Ethereum.
Chapter 2: Storeman Economic Incentives & Slashing
The basic principle of the Storeman rewards mechanism is that Storeman operators expend resources and take risks in order to ensure the smooth and secure operation of cross-chain transactions. Delegators contribute stake to Storeman nodes, and are thus also rewarded.
Overall design
No cross-chain service fee (temporarily subsidized by Wanchain Foundation)
Incentive paid to cross-chain Storeman Node operators who run nodes
Incentive paid to delegators who contribute stake to Storeman nodes
Total Storeman reward is limited with a hard cap to ensure that the high rate of return doesn’t cause too large an amount of funds to move away from Proof of Stake
Wanchain 5.0 wanToken WETH & Wrapped ERC20 Swapdrop Details
What is the Wanchain 5.0 Swapdrop?
With the launch of Wanchain 5.0, the Wanchain cross-chain Storeman bridge will change from a permission one managed by the Wanchain foundation to a permissionless one managed by the public. Previously, the Wanchain foundation Storeman nodes issued wrapped Ether as WETH and various wrapped ERC20 tokens as W-Tokens (WETH, WLINK, WMKR, WZXC, WUSDT, WTUSD, WGUSD, WUSDC, WEURS), on Wanchain. With the launch of the new permissionless Wanchain 5.0 Storeman bridges, a new set of wrapped tokens must be issued. Those tokens are known as wanTokens. In order to get all Wanchain users their new wanTokens, we will take a snapshot (an exact record of the blockchain at a single point in time) of Wanchain at some time between November 6th and November 10th, and will in the next few hours airdrop an equivalent 1:1 amount of wanTokens to all WETH and wrapped ERC20 token holders.
Wanchain Testnet Updates
Progress of Wanchain 5.0 Testnet: Release Of Test Version of Web Bridge, A Web Cross-chain Tool
Web Bridge is a web cross-chain tool in Wanchain 5.0 product series. With Web Bridge, users can rapidly convert cross-chain assets between Wanchain and Ethereum based on the decentralized WAN Bridge mechanism.
Progress of Wanchain 5.0 Testnet: Two Storeman Groups in Election Period, Testnet Explorer Updated, WanWallet Test Version Updated
In order to facilitate Storeman node operators to better know the time in different periods, we have added Selecting Time (Storeman candidates election period), Negotiating Time (GPK signature period) and Working Time (Storeman Group Working Period).
Introducing WanSwap — The Wanchain Based Cross-chain Decentralized Exchange With Automated Market Making
Wanswap is a new decentralized exchange built with automated market making (AMM) modeled after the explosively popular Uniswap, and built on Wanchain blockchain. It in addition to the standard swapping and liquidity providing features common to all AMM DEXes, WanSwap also features liquidity farming inspired by related projects such as Sushiswap. WanSwap takes full advantage of Wanchain’s cross-chain features in order to power trading between assets from multiple blockchains using Wanchain’s cross-chain wanTokens including: wanEOS, wanETH, a growing list of wanERC20 tokens, wanBTC and with more chains & assets soon to be added soon after the launch of Wanchain 5.0.
“reHash” — Your Weekly Summary of Everything Important in the Crypto World
reHash was originally written as a document for internal purposes. Maciej began writing it to make sure the entire Wanchain team is kept up to date on all the important events and trends in the industry. The team found it to be quite useful, and after a while, we realized it could be useful for our community as well. Read more on the latest reHash issues below:
Join Crewfire and get rewarded for supporting Wanchain!
CrewFire is a leading brand ambassador management software.
CrewFire is an ambitious, entrepreneurial team building a tool to help other ambitious, entrepreneurial teams build great brands.
CrewFire makes it easier to manage the Wanchain ambassador’s social media activity and incentives them to participate by providing Wan as rewards.
With CrewFire, Wanchain is able to empower, build and grow the thriving community of brand ambassadors (the Wandalorians) to help them drive referrals, create and share original content, and promote brand content on social media (and beyond).
Do you want to participate in our campaigns and earn #WAN? Just, sign up to CrewFire by using the button below!
Wanchain on the Screen
New to Wanchain? Check out explorewanchain.org for everything Wanchain related!
Looking for Wanchain’s roadmap? Click here.
Are you a developer looking to get started with Wanchain? Check out WanDevs, the Wanchain developer community portal.
Want to learn more about Wanchain and its growing ecosystem? Join our Telegram!