Frozen Walrus Share is an algorithmic stable coin protocol pegged 1:1 to USDC on Avalanche via seigniorage. The protocol’s underlying mechanism dynamically adjusts WLRS’s supply, pushing its price up or down in relation to the price of USDC. This should be $1 however there may be times where USDC loses its peg and if our protocol is functioning as intended will follow USDC to keep pegged 1:1 to it.
The live Frozen Walrus Share price today is $91.33 USD with a 24-hour trading volume of $115,736 USD. We update our WSHARE to USD price in real-time. Frozen Walrus Share is down 11.26% in the last 24 hours. The current CoinMarketCap ranking is #3885, with a live market cap of not available. The circulating supply is not available and the max. supply is not available.
Walrus Shares ($WSHARE) are one of the ways to measure the value of the Frozen Walrus Protocol and shareholder trust in its ability to maintain $WLRS close to peg. During epoch expansions, the protocol mints $WLRS and distributes it proportionally to all $WSHARE holders who have staked their tokens in the Boardroom. $WSHARE holders have voting rights (governance) on proposals to improve the protocol and future use cases within the WLRS money ecosystem. WSHARE has a maximum supply of 50862 tokens distributed as follows:
DAO Wallet: 11500 WSHARE over 12 months (500 sent at launch)
The airdropped amount can be used for early LP to help stabilize prices.
DEV Wallet: 5640 WSHARE over 12 months (360 sent at launch)
For giveaway winners, and payments.
Farming Rewards: 33722 WSHARE
Emissions for WSHARE will end May 2023
What are WBOND (Bonds)?
Bonds are unique tokens that can be utilized to help stabilize WLRS price around peg (1 USDC.e) by reducing circulating supply of WLRS if the TWAP goes below peg.
When can buy WBOND (Bonds)?
WBOND can be purchased only on contraction periods, when TWAP of WLRS is below 1.
Every new epoch on contraction periods, WBOND are issued in the amount of 3% of current WBOND circulating supply, with a max debt amount of 35%. This means that if bonds reach 35% of circulating supply of WBOND, no more bonds will be issued.
Note: WBOND TWAP (time-weighted average price) is based on WLRS price TWAP from the previous epoch as it ends. This mean that WLRS TWAP is real-time and WBOND TWAP is not.
Where can buy WBOND (Bonds)?
You can buy WBOND if any are available, through the BONDS on Frozen Walrus Bond page, anyone can buy as many WBONDs as they want as long as they have enough WLRS to pay for them.
There is a limited amount (3% of WLRS current circulating supply) of available WBOND per epoch while on contraction periods, and are sold as first come first serve.
Why should buy WBOND (Bonds)?
First and most important reason is Bonds help maintain the peg, but will not be the only measure use to keep the protocol on track.
WBOND doesn’t have an expiration date, so you can view them as an investment on the protocol, because long term you can get benefits from holding bonds.
Frozen Walrus BoardRoom Mechanics
Epoch duration: 6 hours. Deposits/withdrawal of $WSHARE into/from the boardroom will lock $WSHARE for 4 epochs and $WLRS rewards for 2 epochs. Claiming $WLRS rewards will lock staked $WSHARE for 4 epochs and the next $WLRS rewards can only be claimed 2 epochs later.
Distribution of WLRS
They have changed the normal model of distribution of WLRS through the Boardroom per epoch. They have made these changes to give a heavier allocation to the DAO and insurance fund (which will be dedicated from the DAO to deploy in circumstances where they are below peg). 65% as Reward for Boardroom WSHARE Stakers 20% goes to DAO fund 10% goes to Insurance 5% goes to DEV fund.
Frozen Walrus has dynamic inflation of WLRS in the boardroom. They have a sliding scale based on TWAP for inflation percentage per epoch. At 1.01 TWAP we will inflate at 1%, and at 3.0 TWAP or more ($WLRS at $3 or more) they will reach max expansion which can be viewed in the table below. It will increase and decreased based on TWAP(e.g. at TWAP 1.5 with max expansion at the time set to 3% we will see a print of 1.5%).
Nodes cost a static amount of LP similar to a static amount of regular single tokens to create. The goal was to make them roughly $50 dollars. It is important to know this price can go up or down based on WSHARE or WLRS price. Once a node is purchased you will then receive that same LP back to you at a daily rate of 1.5% to 3%. This is accomplished by sending the purhcased amount of LP to a reward pool along with everyone elses purchased amount. This reward pool will then send out daily rewards in LP back to users that have purchased nodes.
30% of those rewards are given directly to the DAO for permanent protocol owned liquidity. The remaining 70% will constantly be used by the reward pool to payout node holders. The way that this continues to work is that people continually compound and buy more nodes week over week to pay back all node holders up until 500% ROI.
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One of Coinworldstory's longest-tenured contributors, and now one of our news,ico,hyip editors, Verna has authored over 6900+ stories for the site. When not writing or editing, He likes to play basketball, play guitar or visit remote places. Verna, to his regret, holds a very small amount of digital currencies.