WoxSteem: WOXDeFi is connecting steem and tron blockchain!
In case you missed the latest announcement; here’s a Link. Developments from this announcement shine light on the next direction of WOXDefi. WOXDEFI has been around for quite some time now and have been in constant but gradual development.
Powered by the World of Xpillar community and with support from Project hope community and the rest of steem community; WOXDEFI has been working on developing a plausible DeFi project on top of the Tron blockchain. WOXDEFI offers incredible returns on locked tokens and adopts clever algorithms to build a solid treasury. Despite fluctuating prices, the project has continued to develop and the recent announcement is arguably the biggest development since the initial platform launch.
Part of this announcement includes halting the “three rebase per day” schedule and launching a new rebase plan, the new plan means rebases will happen only once in a day. The biggest take away from the recent announcement is the launch of WOXSteem.
WOXSteem is a plan to recreate the steem token on the Tron blockchain. The steem token on Tron blockchain will be pegged to the normal token on steem blockchain. This creates a competent connection between tron and steem blockchains. WOXDEFI will utilize this token further on its platform for farming and reward purpose.
WOXDEFI will also create a 24/7 bridge to allow holders migrate their tokens between these two blockchains. WOXSteem holders will also be rewarded with a juicy 150% APR when they stake their WOXSteem on WOXDEFI platform.
WOXDEFI is also revamping its liquidity program to replace the pools with WOX and steem(WOXSteem) tokens. This means that the Current WOX-TRX pool will be removed and replaced with WOX-WOXSteem LP. Intial WOX pricing for the LP creation will be 1WOX:0.1WOXSteem. Liquidity providers will have to match each steem token with 10wox tokens.
WOXDefi will also utilize the pooled steem on Steem blockchain for article curation and author rewarding. This will as well create an alternative use case and passive income to re-invest into the WOX project.
WOXDEFI is building, one brick after the other. While I personally still wish the TRON pool will be retained; I understand how important a connection to steem blockchain is. WOXDEFI is tackling the most important issue. Excited for this one!
WOX is a developing project with a responsive team piloting its growth. Be a part of something special. Learn more about WOXDEFI
We all knows that change is the only constant thing when it comes to life. I have read across all the changes and I have been mute for some reasons. How I wish the Tron-Wox LP can be attained, it will help to ensure that more options are available when it comes to investing in the Wox project.
Same here, but let's hope the new strategy works out. A steem connection is important as well.
Hello @joelagbo, I find a lot of positive changes in Wox and I still can't get out of my amazement at the breadth and benefits that these will bring, I can't wait to see the next post with more fresh news.
Fingers crossed, looking forward to it as well.
Hello @joelagbo
That's a good summary of some of the good things that the WOXDEFI project brings. Sig waiting for everything to be implemented, and soon, so we can all have more benefits, and also, be able to give another kind of mobility to Steem / woxSteem.
I hope it will be much more known by more users and that they can see the potential it will bring when implemented.
Regards.
Looking forward to it as well!
An excellent project, all my confidence is in this project and in the people who lead it. I think it is a very good thing for the platform and for steem. Thanks for the information.
Thanks for taking time to read!
Any use case development is welcome and should strengthen the project however with wox token is at seven cents and new wox steem would be priced at 0.1 steem so with steem at $0.24
the new wox at 0.1 steem would be at 2 cents.
Is it not too low
Just like most PH members, I invested a few dollars into WOX, and I really hope it will be a success story for both Steem &Tron chains.
Same here, I wish they would keep supporting the Tron pool but they seem to be focusing on the Steem blockchain, which also makes sense to me...
Thanks for sharing :) @joelagbo
Wow! This is really indeed a very great development by the WoxFi team. I also love the fact that the project is adding more usecase to Steemit which can help to make Steemit more valuable as time goes on.
Thanks for sharing this great post with love from @hardaeborla and I hope you have a great day ahead 😊💞
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