Wise Token

Wise Token (WISE) is a decentralized finance (DeFi) platform built on the Ethereumblockchain. The platform aims to educate and enter the world of cryptocurrency for WISE users giving them a safe and exciting place to understand and trade digital assets. Using the WISE platform, users can easily stake, lend, and earn incentives for creating a liquidity pool. 

The platform aims to be a truly decentralized and asset-backed cryptocurrency. Asset-backed cryptocurrency means as the DeFi continues to gain value in the market, so do the users’ stakes. In fact, by becoming asset-backed crypto, the WISE platform seeks to set new ethical and equitable standards wherein the WISE users can have a highly secure value store and enjoyable experience while trading in the crypto market. 

Further, the WISE platform aims to provide unique features for its users such as:

WISE abbreviation for Wise Token is an ERC-20 accommodating smart contract developed for deployment on the Ethereum blockchain. The core purpose of the Wise token is staking, wherein users can earn rewards on time deposits called stakes. Since the token creates automatic liquidity in the market, the platform has no set token supply.

According to the whitepaper, the WISE platform is backed by Ethereum blockchain and has a price floor in ETH. In simple words, backed by Ethereum means two forces affect the value of WISE: the value of ETH vs. traditional currency and the second is value of WISE vs. ETH which is affected by the trade on Uniswap. Thus, when Ethereum backs WISE, any changes in the market conditions of the native token do not impact the value of ETH, however, help the WISE holders get some amount of ETH back. 

The Wise token had set up a nonprofit foundation in February 2020. Peter Girr, the CEO, and his team contributed toward the mainnet launch of the WISE contract on October 8, 2020. Later, on November 30, 2020, the WISE whitepaper was published, authored by Aaron Hanson.