WISH Tokenomics Introduction 2021
MyWish introduces new tokenomics since its inception.
The WISH token has been around since 2017, it has survived the ICO boom, skyrocketing price, exchange hacking, migration to another blockchain, crypto winter and today is still afloat showing the growth of over x10 and is fueling the leading smart contract creation platform MyWish.io
Today, the MyWish project is one of the few self-sustaining projects on the crypto market. Our platform is used by almost 35,000 people and the number of smart contracts created exceeds 22,000. For 4 years of operations, MyWish has gained trust not only from our users but also from big market players such as Binance, Neo Foundation, Polygon, and Waves.
In 2021, our wrapped tokens were launched: WWISH in Ethereum and BWISH in Binance Smart Chain. At the same time, we have developed and commercialized a cross-chain solution — MyWish Bridge — to swap tokens between blockchains. Our users can now buy, store and exchange tokens in different blockchains wherever they want, and the total number of WISH token holders has doubled to 1,000.
Overview of the biggest tokenomics update
1. Increase total % of revenue for tokenomics from 10% to 20%
2. Spend 10% for WISH buyback
3. Every month allocate corresponding liquidity to Uniswap: 10% worth in WWISH and 10% in ETH (20% in total)
4. 10% off when paying by native platform tokens
5. Transparent buybacks regularly
Increase total share of revenue spent on token development from 10% to 20%
Based on the current platform growth pace, it is acceptable to allocate our budget in the following ways: increase the share of income spent on liquidity from 10% to not more than 20% and distribute that 20% of income on buyback and liquidity. Along with the platform growth, the share of income spent on liquidity will be increased. For now, we can only double the current spendings.
Spend 10% for WISH buyback
We are increasing the percentage of the project’s income spent on the token from 10% to 20%. Specifically, 10% will be used to buyback WWISH tokens, which will be sent to a special account every week (we will specify the address later), making this part of the tokenomics more transparent.
Liquidity to Uniswap: 10% worth in WWISH and 10% in ETH (20% in total)
The second 10% in ETH, coupled with the redeemed tokens, will be pledged to the liquidity of the WWISH token on Uniswap every month.
- The first thing we will address is the liquidity of the token. So we’ve decided to reduce the liquidity from PancakeSwap* in favor of Uniswap, as it is more accessible and understandable for our users and new investors.
* Dear holders, don’t worry about BWISH, we will maintain it and you can always swap it out via our cross-chain bridge.
Scheme of tokens workflow
* Figures are shown schematically to illustrate the example, monthly platform income may vary depending on the market demand.
Bonus for paying with WISH tokens
The team is aware of the importance of token utility, and we are moving towards it.
As the token is the equivalent of paying for contracts and services on the platform, and payments are accepted in any cryptocurrency for the convenience of users. We offer +10% to your balance when topping up with WISH, WWISH, and BWISH tokens.
Regarding TRONISH tokens, we will continue to freeze 10% of the revenue of the created contracts on the Tron blockchain. Little demand for the EOS Platform makes the token EOSISH unclaimed. As soon as the situation changes we will revisit this issue.
In addition, we have a referral program where each of our users can earn income every time their promo code is used to create a smart contract. Register and get your code here: MyWish Referral Program
We also plan to pay out bonuses in our WISH tokens only to increase utility (including marketing external expenses).
To allay fears of impermanent loss, in 1–2 months after our liquidity migrates to Uniswap V3, we will return to encouraging liquidity providers.
What you can do to make a project successful
- Provide Liquidity to one of the most sustainable projects
- Participate in our referral program
- Promote the cross-chain bridge and other services we offer
- Share our company on social networks, get active likes and retweets
- Also, send your suggestions for the development of the project.
We sincerely need your help and support!
What’s in store for us next?
MyWish continues to grow relentlessly and perform in every direction.
We have many reliable partners and we are always looking for new collaborations.
One of the catalysts for token growth is holding partner token airdrops for our loyal holders. Our holdings are now in the distribution phase of Rubic RBC tokens. After the latest snapshot, we have a new activity planned that you will enjoy just as much, don’t rush to disperse.
MyWish is helping many promising projects to launch and create their tokens, so we have a lot of options to encourage our investors. Since we partner with projects our Holders will receive benefits from our partners, such as Rubic Airdrop and others.
Teaser: In August we are preparing something intriguing for you, stay tuned!
Our team believes that we can reach our goal. Knowing how involved our community is, we would appreciate it if you spread the word about our smart contract platform as much as you can — always and everywhere. Share our referral program promo codes, bring your friends and generate income with us.
Together we will earn and succeed!
Sincerely, MyWish Team
Binance DEX: https://www.binance.org/en/trade/WISH-2D5_BNB