ILCOIN releases WILC token on the UniSwap Dex
By Leandra Monteiro
A new instrument designed to provide users with passive income generation options on the growing DeFi market was released by the ILCOIN Blockchain project.
The Wrapped ILCOIN, or WILC provides interoperability between the ILCOIN and Ethereum networks and relies on crosschain solutions to ensure liquidity availability and the development of DeFi applications. WILC tokens can be exchanged at a 1 to 1 ration with ILCOIN digital assets, allowing holders to seamlessly connect to the Ethereum network and conduct transactions on it.
“DeFi is a possibility for the crypto world. We have been voicing for years that decentralization is not only about whether a code is accessible for anyone. Free access is useless if trading works centrally. It is necessary to have Decentralized Exchanges in order for decentralization to become reality. I hope that thanks to DeFi projects, more DEXs will appear on the market, and third-party abuse will be effectively eliminated,” said Norbert Goffa, Executive Manager at ILCOIN Blockchain Project.
Developed as a liquidity provision mechanism, WILC is an instrument that allows its holders to contribute their WILC assets in 50/50 pairs with such popular coins as ETH, DAI or USDT to a variety of liquidity pools. At 0.3% of the total amount of liquidity they are providing stake providers will be able to receive awards from network transactions. The rewards will be automatically accrued to the holder’s personal wallets for immediate disposal.
The WILC token is currently available on the UniSwap decentralized exchange and the ILCOIN development team is also planning to expand the reach of availability of WILC to more decentralized exchanges in the near future.
“The objective of ILCOIN Development Team in the long run is to create a unique on-chain data storage platform. As an innovative project, we always pursued to create value for our users. 2021 begins promising since after the Age of ILCOIN Retribution we were able to enter the market with WILC in a relatively short time,” said Ramiro Faro Vélez, CEO at SYDYG.
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