The cryptoeconomy is still very young, and with that vibrant comes the reality that theres still no lack of room for upstart jobs to gain ground into the space.
The secret for these tasks? To use innovative solutions that crypto users actually desire and need today. The Hong Kong-based Walletreum task, a crypto-asset management tool suite, is one such newbie effort thats attempting to get the mantle here.
What Is Walletreum?
Walletreum isnt a single option, however rather its structured like a crypto Swiss Army Knife and uses a series of applications and tools. A few of the young tasks flagship functions presently include:
Crypto lending powered by Walletreums exclusive ALGON AI
Loaning by means of SAFE CREDITS
Yield farming of the projects native WALT token, plus WALT staking
Free off-chain swaps on ZeroSwap
Lets breakdown each of these offerings to get a better sense of what the broader Walletreum suite brings to the table.
Providing with ALGON
Lending is one of the hottest sectors in the decentralized finance environment this year, and the Walletreum group approached the arena by producing its own specialized lending bot, ALGON. The system works thus:
If any lent possession falls 10% or more, then ALGON will rapidly reassess the scenario depending upon current market stats and try to reduce the losses as much as possible. IF the market drops 10% in provided possession worth, then provided crypto possession worth will be depreciated 1% at the end of the lock duration and so on.”
Borrowing with SAFE CREDIT
Next up on Walletreums function slate is borrowing, which is likewise powered by ALGON and the projects SAFE CREDIT system.
Users deposit crypto assets to ALGON, an algorithmic fund supervisor.
Per backtesting, ALGON has a “performance history of … 4% to 6% each month returns in a bearishness and 2x to 5x monthly … in a booming market” according to Walletreums whitepaper.
At this point, users relax while ALGON does its work and up until theyre ready to withdraw their assets.
During bearish market these users can withdraw in stablecoins or in money to their banks, while in bull markets they can withdraw in their initially deposited crypto.
Walletreum vs Other Lending platformsSimply put, Walletreums SAFE CREDIT product is a crypto-backed loan offering. It enables users to borrow approximately 97% against their crypto for 4.3% interest yearly. Other selling points of the service include:
No credit checks
No KYC registrations
Loans are payable through any possession available on Walletreum
Fixed rates of interest
Loans can be partly returned early
WALT Farming and Staking
WALT, an ERC-20 token on Ethereum, is the native currency of the Walletreum suite.
To bootstrap the crypto management suite in its earliest days, the projects developers are running a WALT yield farming project to reward their inaugural fans and win interest over to the app.
Similar to farming campaigns weve currently seen in DeFi this year, Walletreum will be splitting its WALT benefits 50/50 between the jobs borrowers and loan providers. For the period of the program, the group will be distributing 4,500 WALT tokens each day on a pro-rata basis.
According to Walletreums roadmap the job is intending to roll out WALT staking in Q1 2020. As soon as that function is live, WALT stakers will aim to earn their fair shares of the 5 million WALT reserve for staking benefits for the foreseeable future. 45% of this allotment will be dispersed in the very first year, 35% in the 2nd year, and 25% in the third year.
Here, its also worth pointing out that Walletreum has coordinated with Ferrum Network to take advantage of the jobs Flexible Staking service, which allows any ERC-20 token to be secured to make rewards.
WALT Tokenomics and Utility
To understand where the WALT token might be heading, we require to understand how it looks from a birds- eye view. Appropriately, WALTs tokenomics are as follows:
50 million total WALT supply
Preliminary flowing supply of 16 million WALT
The absolutely supply will be dispersed with 30% going to staking/listing/and liquidity provision; 18% to Walletreums company reserves; 16% to the tokens public sale; 12% to a pre-sale allocation; 9% to the Walletreum group; 7% to marketing efforts; 4% to consultants; and 4% to a strategic sale allocation.
Significantly, the crypto management start-up completed its pre-sale offering on September 7th, 2020, and its public sale one week later September 15th. The public sale of 8 million WALT tokens was slated to happen throughout 72 hours, but the designated tokens sold out within 7 hours.
When it comes to the WALT tokens utility, holding 1,000 WALT tokens opens a series of unique features for users, including:
The Hong Kong-based Walletreum task, a crypto-asset management tool suite, is one such newcomer effort thats trying to choose up the mantle here.
Walletreum vs Other Lending platformsSimply put, Walletreums SAFE CREDIT item is a crypto-backed loan offering. According to Walletreums roadmap the task is aiming to roll out WALT staking in Q1 2020.” Users can keep swapping their properties inside the platform based on the present prices that Walletreum brings from several oracles. Walletreum saves tons of gas fees for a high number of swaps.”
Special access to WALT farming
Unique access to ZeroSwap
Exclusive access to the ALGON X3 Package
20% discount on Walletreum loaning fees
0% costs on loaning position exits
0% withdrawal charges
Walletreum is a suite of crypto tools, and ZeroSwap is the services internal crypto-to-crypto exchange, which lets users “rapidly and quickly swap one crypto asset foranother without paying any transaction cost.” As the jobs group has actually formerly described:
” Users can keep swapping their possessions inside the platform based on the existing costs that Walletreum fetches from several oracles. All the swapping will take place in the internal pools of the platform with virtual asset-backed tokens. Walletreum saves loads of gas fees for a high variety of swaps.”
Out of the gate, the crypto properties supported by ZeroSwap include ETH, BTC, WALT, EOS, USDT, and BNB, however theres no factor to believe more tokens will not be added going forward.
The Walletreum Roadmap
As Q3 2020 nears an end, the last thing Walletreums working on for this quarter is getting the WALT token getting listed on crypto exchanges.
During the final three months of the year, Walletreum will be focusing on rolling out the numerous energies associated with the WALT token, like WALT farming, and incorporating new crypto properties into the Walletreum ecosystem.
2021 is going to be another year of ramping up for the task.
In Q1, WALT staking is set to go live and the Walletreum team is intending to release a fiat-to-crypto ramp and a WALT balance debit card. In Q2, the job is presenting mobile support for Android and iOS (and therefore Google Pay and Apple Pay).
In Q3, deal with a hybrid liquidity aggregator system will start, whereas the end of 2020 will see the Walletreum team working to integrate ALGON within its exchange.
It has an opportunity to go from unknown to actively used in regions around the world if the upstart crypto-asset management suite can follow through on these milestones.
Crypto projects come and go, and it can be really difficult to choose winners and losers without the benefit of insight. That said, Walletreum has a few of the key components any project requires to go the range, and those ingredients originate from the groups concentrate on servicing users with attractive offerings.
If the creators can continue to utilize this focus as their North Star, then their option certainly has a battling opportunity to end up being a tool suite of note in some DeFi circles. In the meantime, well need to see how the task grows from here.