How $WAP Is Going To Make $BNB From Market Making On Binance SmartChain
How $WAP Is Going To Make $BNB From Market Making On Binance SmartChain?
The creation of $WAP$WAP will unleash its power by making it possible for people to use their $WAP$WAP to be a market maker and earn $BNB in the process. The process for earning $BNB is simple. You trade any token on the Binance SmartChain in exchange for WAP$WAP.
Then you can take the WAP$WAP and use it as collateral to become a market maker on DEX and receive $BNB as interest.
Binance is excited to announce that WAP will be used as collateral on Binance’s SmartChain. This will allow WAP holders to earn interest on their holdings of WAP in the form of BNB.
Here’s how the process works:
- You trade in any token on the Binance SmartChain to receive WAP$WAP
- Take this WAP$WAP and deposit it into your DEX account and receive BNB as interest
- Withdraw your earnings (in BNB) back to your account on Binance
WAP$WAP is a utility token that is going to be used in the creation of a whole new ecosystem. BNB will now have a way to earn interests on Binance’s DEX thanks to WAP$WAP. Can you imagine using your WAP$WAP to become a market maker on Binance? It is an amazing idea that makes sense.
To trade, token holders can trade their tokens for WAP$WAP on the Binance DEX, or if they don’t have a tradeable token, turn their stablecoin into WAP$WAP. Everyone’s favorite stable coin, $USDT will also be on Binance being turned into WAP$WAP.
Holders of WAP$WAP will be able to earn interest by becoming market makers (in the form of BNB), and earn even more BNB by taking on loans from other traders who want to borrow in their own tokens and pay interest with BNB
$WAP is a utility token that comes with a use case. The purpose of $WAP is to provide BNB as interest for being a market maker on the SmartChain DEX. Otherwise, $WAP has no use case.
How are you imagined to make money with WAP? Binance has an idea as simple as can be. You can buy WAP and hold it, or you can use it as collateral for the SmartChain to become a market maker and earn BNB for yourself in the process. And if you have ideas on how Binance can make more money, contact them.
The BNB market making on DEX is similar to how Treasuries are used in the USA. But instead of earning interest on US dollars, you’re earning it on crypto. But what you purchase with the US dollars (Treasury bonds) is a bond that simply pays interest or nothing.
What we have given you usage rights to via WAP$WAP is a smart contract which enables you to create bonds that pay interest in any number of currencies and have a variety of parameters and stipulations.
WAP$WAP provides a way for holders of the token to keep their coins safe and earn interest. In fact, this is like getting paid for holding your coins. Binance wants to lend you money. If you don’t want to use BNB to purchase coins there will always be other options.
If you do not have enough BNB to pay for fees then you could use WAP$WAP as collateral instead.
WAP is not a cryptocurrency venture. It is a new token that can be used within the Binance SmartChain in a secure and trustworthy cryptocurrency system. WAP is designed for many uses, with one of them being to provide interest when people use it to lend their coins for other currencies to borrow.
It is time for those of us using Binance to take the next logical step. Since we are now using a blockchain, we can do anything that can be done on another blockchain. Thus, Binance should allow their users to be market makers on DEX and earn BNB as interest while they do so.
The natural progression of technology has allowed for the creation of the Binance SmartChain. The SmartChain will serve as an ecosystem for all sorts of tokens with each token offering its own utility agnostic to its native blockchain.
The Binance SmartChain will separate from the original blockchain and create a platform that can support smart contracts and dApps.
What is WAP? WAP is short for WrappedAccessiblePrices. It’s the base currency for Binance Chain and all other currencies are wrapped around it. Like Ethereum gas and ETH, in order to use any of the functions on Binance Chain, you need to pay a certain amount of WAP for the privilege.
However, unlike ETH where everything you do costs you ETH (whether it be trading, making a market, etc.), it is costless to use any function on Binance Chain (you only have to pay a transaction fee of .1 WAP). Here’s an analogy that might help.
Website — https://wapswap.finance/
Whitepaper — https://wapswapfinance.gitbook.io/wapswap/
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