WYE Finance

WYE Finance will be a new platform for lending and staking on the Kucoin Community Chain Blockchain. WYE is the official and only native token of WYE Finance. With support from the community, we hope to expand the KCC Blockchain’s capabilities and to compete with other, more established blockchains. WYEFinance.com

Token Supply

The absolute total supply of WYE will be 600,000,000 tokens. Funds raised from private sales will be used to improve security, research & development, provide liquidity, and cover expenses.

Token Distribution

The token supply will be distributed in the following manner:

Staking rewards will most likely start around 0.1 to 1 WYE per KCC block. Staking rewards will also be reduced monthly by a minimum of 0.1% and only changed by a simple majority vote. The staking rewards will be reduced by an amount decided by voting.
The R&D, Maintenance, Advertising, and other expenses will be used to establish a non-profit foundation that will handle updates, R&D, network maintenance, advertising, and all other expenses to run WYE Finance and the WYE Fin Foundation. The total amount will not be available instantly. The amount released monthly will cover expenses.
The Initial Private Sales will provide seed funding to hire more team members to ensure ultimate security and to begin the process of and hopefully complete, establishing a non-profit foundation for WYE Finance.
The Team will be rewarded a total of 60,000,000 WYE tokens over a TBD amount of time.
In order to support the initial release of the WYE token, 5% of the total supply will be released to the creator for the sole reason to establish one or more liquidity pools. After the community has provided enough liquidity, we will slowly remove the initial liquidity. After all the initial liquidity is removed, the amount will be recycled and/or burned.

Establishment of WYE Fin Foundation

After the completion of initial private sales, we will begin the process of establishing the non-profit foundation which R&D, updates, upgrades, everything, and anything else WYE Finance requires to remain current. This is where the 30% will be allocated.

Future Plans

After we are established in the KCC Blockchain and we provide all the services we can, we plan to begin research and development into our own blockchain. One that won’t necessarily be based on the Ethereum Blockchain. Our blockchain should support smart contracts and provide cross-chain support.