WingRiders, the largest decentralised exchange on the Cardano network, announced the release of its governance token, WRT, on July 14. A key advantage for future WRT holders is its voting power, which enables the ability to initiate and vote on key decisions in the operation and development of WingRiders.
📢🚨Riders, We are thrilled to announce our confirmed TGE date!
🕐14th of July, 10am UTC
Prepare your wallets – go, go $WRT!WingRiders is the largest #Cardano DEX by both TVL and volume. We are building the DeFi Hub that serves the needs of this L1 community of ours!
More👇 pic.twitter.com/TE4DEj313C
— WingRiders (@wingriderscom) July 11, 2022
DAO members, for example, will be able to influence platform protocol parameters, commision sizes, and which features or farms to add. WRT holders will also benefit from increased returns, an increased chance at an airdrop of new tokens, access to important information and membership in the WingRiders clan.
WRT tokenomics and utility
Everything is clear with the governance characteristics of WRT; there is not much surprise here. Let’s turn to the nature of the token itself. What is it? Since its total supply is capped at 100 million tokens, WRT is deflationary. That said, it will be possible to farm the token, albeit to a limited extent of 40 million.
WRT can be used to purchase NFTs and cryptocurrencies at a lower price than regular trading pairs. WRT can also be used as a form of collateral currency for agents coming to WingRiders.
Eight million WRTs will be available for public sale, while 12 million WRTs have been distributed privately. Tokens sold in public offerings via whitelist, DAO Maker, Occam, and Vent will be locked up for two months, while WRT sold in private rounds will be locked up for three months.