WiseSoft has recently announced that its integration with Binance Smart Chain is about to unravel into a BNB backed liquidity pool, funded via the upcoming Wise Liquidity Transformer Event on April 27th, 2021. The event will run for 15 days only or until the pool ceiling of 200,000 BNB is reached. Such a move, by the team of the most secure staking medium on blockchain, bids to create a $200 million Wise token pool on Pancakeswap.. The presale will be accompanied by $544,000 upfront incentives (read instant cash prizes distributed in BNB), offered to qualified participants of the event.
Big names, an important-to-the-blockchain industry event, and a bright, new future for secure, BNB-backed staking. This is what the DeFi connoisseurs already know, and are keenly waiting for the event to begin. Nevertheless, it is ok to be slightly foreign to the subject. Let’s take a moment and dissect how instrumental the Wise token event is to blockchain and DeFi in general.
The fall and rise of Staking and DeFi
Decentralized finance is the primary application of what blockchain and Bitcoin were originally designed for. Whilst Bitcoin introduced the world to decentralized currency, it was later the Ethereum blockchain that turned the dream into a reality, combining cryptocurrency with the proper infrastructure on which real-world applications could be developed.
Some say that DeFi started off on the wrong foot. Just like any new deviation of blockchain, the market got quickly flooded with projects that had no intention of being practical or useful, but simply raised money to the foremost benefit of the project originators. Staking, of course, was also caught in the middle of it, as the majority of projects were not asset-backed and shut down prematurely despite the behemoth ‘take on the world’ plans they all boasted.
‘It all happened due to greed, centralization and tokenomics that relied on never-ending demand.’
Reasons for failure are broad and at the same…