WOWswap

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Discover WOWswap's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is WOWswap?

WOWswap (WOW) is a decentralized leveraged trading protocol that operates on multiple blockchain networks, including Ethereum, BNB Chain, Avalanche, IoTeX, Solana, and Polygon. It allows users to engage in 1-click leverage trading and lending, providing a platform for traders to buy and sell tokens with up to 5X leverage by borrowing from a lending pool. Liquidity providers can supply assets to the lending pool and earn interest from traders.

How is WOWswap used?

WOWswap (WOW) is a decentralized leveraged trading protocol that allows traders to take positions in various cryptocurrencies without needing to transfer their assets to a centralized exchange. This protocol operates on multiple blockchains, including Ethereum, BNB Chain, Avalanche, IoTeX, Solana, and Polygon.

Key Features
  • Leveraged Trading: WOWswap enables traders to use leverage, which means they can borrow funds from liquidity providers to increase their market exposure with a smaller initial capital. This allows for multiplied profits or losses based on the total value of the position.
  • Decentralized Governance: The protocol is community-run, with critical parameters such as approved tokens, liquidation margins, fees, and lending rates decided collectively by holders of the WOW token, the protocol's governance token.
  • Liquidity Pools: Individual liquidity providers operate common liquidity pools using WOWswap's smart contracts. Traders can then borrow from these pools to finance their leveraged trades on decentralized automated market makers (AMMs) like Uniswap and Pancakeswap.
  • Low Fees and Slippage: WOWswap promises secure swaps between crypto assets with extremely low slippage and minimal fees.
Use Cases
  • Traders: WOWswap allows traders to securely swap between crypto assets with low fees and slippage, and to take leveraged positions in various cryptocurrencies without relying on centralized exchanges.
  • Liquidity Providers: Liquidity providers can create and operate common liquidity pools, earning fees and rewards based on the rules established by the WOW token holders.

Overall, WOWswap democratizes leveraged trading by giving power to the community, allowing for decentralized decision-making and operation of liquidity pools.

How do I store WOWswap?

To store WOWswap (WOW) tokens, you can create a Web3 wallet specifically for WOWswap. This wallet will allow you to manage and store your WOW tokens securely. You can follow these steps:

  1. Create a Web3 Wallet: Go to your preferred wallet provider (e.g., Bitget) and select WOWswap from the mainnet list. This will create a dedicated wallet for your WOW tokens.

  2. Manage Your Tokens: Once you have your wallet set up, you can store, send, and receive WOW tokens within the wallet. Make sure to follow the wallet provider's guidelines for managing your tokens.

  3. Keep Your Wallet Secure: Always keep your wallet private keys and passwords secure to prevent unauthorized access to your tokens.

By following these steps, you can safely store and manage your WOWswap tokens.

How to buy WOWswap?

To buy WOWswap (WOW) tokens, you can follow these steps:

  1. Choose an Exchange: WOW tokens can be traded on decentralized exchanges. The most popular exchange to buy and trade WOWswap is PancakeSwap (v2).

  2. Select a Payment Method: You can buy WOWswap using various payment methods such as credit cards (Visa or MasterCard), bank transfers, Apple Pay, or Google Pay.

  3. Set Up Your Wallet: Ensure you have a compatible wallet, such as MetaMask, to store and manage your WOW tokens. You can import WOW tokens manually by copying the contract address (0x4da996c5fe84755c80e108cf96fe705174c5e36a).

  1. Complete the Purchase: Once you have set up your wallet and chosen your payment method, complete the purchase on the selected exchange. The transaction will be confirmed by the network, and the time it takes depends on the gas price you set.

  2. Store Your Tokens Safely: For long-term storage, consider using a "cold wallet" such as a paper wallet or a hardware cold wallet to keep your tokens secure.

By following these steps, you can successfully buy and manage your WOWswap tokens.

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History of WOWswap

The history of WOWswap (WOW) is marked by significant milestones and developments. WOWswap is a decentralized leveraged trading protocol that operates on several major blockchains, including Ethereum, Solana, and Binance Smart Chain.

The protocol allows traders to buy and sell tokens with up to 5X leverage by borrowing from a lending pool. Liquidity providers can supply assets to the lending pool and earn interest paid by traders.

WOWswap's historical data is available on various platforms, including TokenInsight, CoinCarp, and CoinMarketCap, which provide insights into its price charts, market capitalization, and other valuable metrics.

The token's price performance has seen notable fluctuations, with an all-time high of $145.54 on January 19, 2022, and an all-time low of $0.00121 on March 14, 2021.

WOWswap's market capitalization, trading volume, and other statistics are regularly updated on platforms like CoinMarketCap, providing users with a comprehensive view of the token's performance.

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How WOWswap works

WOWswap is a decentralized trading protocol that allows users to securely swap between crypto assets with minimal fees and low slippage. It is designed to cater to both traders and liquidity providers. For traders, WOWswap offers leverage of up to 5X, enabling them to buy and sell tokens with borrowed capital. This means that traders can amplify their potential gains by borrowing additional funds from the platform.

The platform operates on multiple major blockchains, including Ethereum and Solana, providing multi-chain services. This allows users to access a wide range of assets and take advantage of the benefits offered by different blockchain networks.

In addition to its trading features, WOWswap also includes a lending system. This system enables users to lend their assets to other traders who want to leverage their positions. The lending system helps to ensure that there is sufficient liquidity on the platform, which in turn supports the low fees and slippage that WOWswap is known for.

WOWswap can be accessed through decentralized exchanges (DEXs) that support the blockchain on which the WOW token resides. This provides users with a secure and decentralized way to buy and trade the WOW token.

Overall, WOWswap aims to provide a robust and secure trading environment for users, offering advanced features like leverage and lending while maintaining low fees and slippage.

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WOWswap's strengths

The token WOWswap (WOW) has several strengths that contribute to its value and utility within the decentralized leveraged trading protocol.

Hybrid Staking and Governance

WOW token holders can participate in HybridStaking, which allows them to stake their tokens for a period ranging from 14 to 730 days. This staking process generates non-transferable governance tokens (xWOW), which can be used to vote on critical protocol parameters and receive governance rewards. This mechanism ensures that users have a say in the protocol's development and security while earning rewards for their participation.

Leverage Trading and Liquidity

WOWswap offers up to 5X leverage for traders, allowing them to borrow extra BNB from the lending pool. This feature attracts traders who seek higher returns on their investments. Additionally, liquidity providers can supply BNB to the lending pool and earn interest paid by the traders. This liquidity pool is crucial for maintaining a stable and liquid market environment.

Community Engagement and Distribution

A significant portion (55%) of the total token supply is allocated to the community, with distributions planned over 18 months. This includes tokens for liquidity providers, leveraged traders, margin callers, and marketing activities. This community-focused approach fosters engagement and encourages users to contribute to the protocol's growth.

Multi-Chain Support and Listings

The WOW token is listed on multiple decentralized exchanges (DEXs) across various blockchains, including BNB Chain, Heco, Polygon, Metis, and Avalanche. This broad support ensures that users can access and trade the token on different platforms, increasing its liquidity and visibility.

Automated Governance and Security

The protocol's governance mechanism is fully automated, with parameters updated every 24 hours. This ensures that the protocol remains secure and adaptable without relying on human intervention. Additionally, the protocol charges fees on net profits made by traders, with a portion going to the insurance fund and another portion used to buy and burn WOW tokens, which helps maintain the token's value.

These strengths collectively contribute to the token's value and utility within the WOWswap ecosystem, making it an attractive option for traders and liquidity providers.

WOWswap's risks

WOWswap (WOW) carries several financial risks that investors should be aware of. One significant risk is the high interest rates charged to borrowers, which can result in substantial losses if the borrowed tokens do not appreciate in value as expected. For instance, a 0.1% hourly interest rate can translate to a 2.43% interest payment over a single day, which can be substantial if the borrowed tokens do not yield sufficient returns.

Another risk is the potential for liquidation. If a trader's position falls below the liquidation margin, the position will be automatically closed, resulting in losses for the trader. This risk is heightened when trading with high leverage, as even small price movements can trigger liquidation.

Additionally, the protocol's reliance on community governance through the WOW token can lead to unpredictable changes in parameters such as lending rates, fees, and liquidation ratios. These changes can impact the profitability of traders and liquidity providers, introducing an element of uncertainty and risk.

Furthermore, the decentralized nature of the protocol means that there is no central authority to regulate or mitigate risks. This lack of oversight can make it more challenging for investors to recover losses in the event of a problem.

Lastly, the high APY offered by WOWswap, such as 500,000% and more, may attract high-risk borrowers, which can increase the likelihood of defaults and losses for liquidity providers.

Overall, investors in WOWswap should carefully consider these financial risks and ensure they fully understand the protocol's mechanics before investing.

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Did WOWswap raise funds?

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WOWswap’s team

  • Founder and Team Members: The team behind WOWswap includes founder and CEO, Vlad Semenychev, along with other key members such as Alexey Semenychev (CTO), Evgeny Semenychev (CMO), Dmitry Kolyshko (Head of Development), and Evgeny Galiakhmetov (Head of Business Development).

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