Note: this protocol like any other DeFi protocol is subject to risks. Wolf protocol took inspiration from Ring. Improvements have been added to make the contract more scalable and secure. We plan to partner with auditors for ongoing post-launch audits.
Long story short: WOLF nodes is a decentralized protocol based on the WOLF token. WOLF is not owned by any individual, instead it is owned by WOLF community holders who can decide on WOLF’s future via on chain voting. We took inspiration from RING’s protocol to provide Defi-as-a-Service. This side of the protocol will enable our users to not be exposed to other existing projects and scams in DeFi. You will just have to use one token and one platform: WOLF. Noders will benefit from this situation, by reducing their time spent on researching other protocols, paying network fees, bridging and manual swapping. Furthermore, Wolf nodes will be combined with another platform called Wolfabra, which will enable noders to use their nodes as collateral and borrow our algorithmic stable coin, named $BIMB, and exchange it for other tokens on PanckakeSwap.
In this post, I will try to explain how Wolf Nodes works by using very simple terminology and make it understandable for every type of audience. I hope this Medium post will provide you with a basic understanding of the path we are taking to address the problems that current DeFi 2.0 users are facing
Wolf Node was created with the goal to bring a totally new concept in the DeFi space, solving one of the most painful side of noders: utility of nodes. Every time noders create nodes, they basically lock their tokens and wait for the protocol to generate the initial investment. However, the utility of the nodes is currently limited, as you can’t use them for generating additional yield. Our node protocol will differ from existing ones as we will offer users the ability to deposit their nodes as collateral on Wolfabra. Wolfabra will allow Wolf noders to borrow $BIMB and exchange it on PancakeSwap for the WOLF token or other desired tokens, and increase their exposure on the WOLF protocol by creating more nodes.
Our Node protocol took inspiration from Ring meaning that we created and improved an innovative reward mechanism around our nodes. To make it simple, you will need x $WOLF to create one LAIR (OUR NODES). One LAIR will give you x $WOLF per day and it will be your own choice to create more nodes with the rewards received, or trade them for other tokens on PancakeSwap. With these $WOLF and LIARS, users will be able to generate passive income for infinite period of time. To buy LAIRS, users will have to act according to the following steps:
— Buy WOLF on PancakeSwap (contract address will be released once we are live)
— Create at least 1 LIAR (Node) with x WOLF tokens
— Collect high yield rewards in WOLF tokens generated by LIAR every 24 hours
— For leverage lovers: you can use Wolfabra to borrow $BIMB, trade it for $WOLF and create more LIARS.
Note: once a LIAR (node) has been created , it can’t be undone and it will generate yield in perpetuity. x $WOLF per LIAR per day is going to be our initial reward. We will try to keep them at this high level for the longest possible time period, however we can’t promise this amount of daily rewards for the entire life of the protocol as it may compromise the sustainability and growth of our project. Our goal is to ensure growth of the token price until it reaches a stable level. If stability will be achieved, rewards will stabilize (given the same number of users on the platform).
I hope you Wolves enjoyed this reading! Make sure you stay wolfy for upcoming updates on the project. We will soon release information regarding the tokenomics, roadmap and other official links of the protocol, including discord.
For now, you can follow us on twitter: https://twitter.com/WolfNodes