WePiggy (WPC)

Basics

• Based in: China
• Started in / Announced on:
• Testnet release:
• Mainnet release:
• From their FAQ (9-12-2020):

"WePiggy is an open source, non-custodial crypto asset lending market protocol. In Wepiggy's market, users can deposit their crypto assets to earn interest, or borrow others by paying interests."

Audits & Exploits

• Bug bounty program can be found [insert here].
• From their blog (30-10-2020):

"At present, WePiggy’s mining, lending and migration contracts have passed the audit of “SlowMist”, a well-known blockchain security company. Security Audit Certificate, check here. For a detailed audit report, check here."

Governance

Admin Key

• From their website (22-7-2021):

"Be jointly managed by 7 members of WePiggy's core development team through a multi-signature mechanism to prevent single-point of failure. In the future, the management private key will be transferred to the community and the protocol will be upgraded through the WePiggy Improvement Proposal (WIP)."

DAO

• From their FAQ (9-12-2020):

During the initial phase of WePiggy's governance, WPC holders have the right to vote on the following issues:

1. Create new pToken markets
2. Update the interest rate models for any markets

1. Update the oracle address
2. Choose a new admin

1. Others market policy related matters

Besides, community can initiate proposals to add more mining pools, or change the WPC mining weight of any pools in WePiggy's liquidity mining program, and make decisions on any issues related to community operation.

In the future, WPC holders will gradually realize full control of the protocol, and finally decide WePiggy's business direction, market strategy, technology roadmap, asset safety, ecosystem incentives and so on.

Token

Token Allocation

• From their blog (30-10-2020):

"A total amount of about 8 million, which is completely generated through mining, no VC allocation, no private sale, no pre-mining.

For every 1 WPC mined, the WePiggy Foundation will receive an additional 0.39 WPC as a reward. That is to say, the community will account for about 71.94% of the token distribution and WePiggy Foundation will account for about 28.06%."

Utility

• Used for governance.

Technology

• Whitepaper can be found [insert here].
• Code can be viewed here.

Implementations

• Built on, according to their blog (30-10-2020):

1. Official launched on OKExChain mainnet, started the “WePiggy’s Billionaires” activity, the TVL exceeded 200M USD.
2. Official launched on BSC mainnet, started the “WePiggy’s Billionaires” activity
3. Official launched on Polygon mainnet
4. Huobi Eco Chain: Under public test stage
5. Arbitrum: Under public test stage
6. Optimism: Under inner test stage
7. Other networks (PolyGon, Solana, etc): Under development

WePiggy has been depolyed on 4 public chains: Ethereum, OKExChain, BSC and Polygon (7-7-2021).

Scaling

• Mentions Arbitrum, Optimism, Polygon and BSC in their ecosystem page (22-7-2021).

Oracle Method

• Mentions Chainlink in their Ecosystem page (22-7-2021).

Roadmap

• Can be found here (30-10-2020):

1. Sep 2020: WePiggy Protocol development started
2. Nov 2020: Liquidity mining program launched
3. Nov 2020: Governance (Off-chain mode) module launched
4. Jan 2021: WePiggy’s lending market launched
5. Jan 2021: Contract audit completed, first liquidity migration implemented Jan 2021: Enable “Borrow Mining” mode
6. Feb 2021: Launch “Asset Analysis” and “History” feature
7. Feb 2021: Launch “NFT Claim” feature
8. Feb 2021: Multiple oracles integration
9. Mar 2021: Enable the multi-chain deployment plan, set up a cross-chain ecological incentive pool
10. May 2021: Go live on OKExChain
11. Jun 2021: Go live on Binance Smart Chain (BSC)
12. Jun 2021: Launch “Liquidation Alert” feature
13. Jul 2021: Go live on Polygon
14. Jul 2021: Go live on Huobi Eco Chain (Heco)
15. Jul 2021: Go live on Arbitrum
16. Jul 2021: Go live on Optimism

Competition

• From their FAQ (9-12-2020):

"Compared with pioneers such as Compound and Aave, WePiggy wishes to create more markets for user's choices; optimize the execution efficiency of smart contracts, low-down the gas cost; equip users with more financial tools, not only flash loan, but also margin, options, etc. Of course, all the improvements are premised on the basis of users' fund safety. In WePiggy's governance, the core team would like to take a more positive and responsible role."

Team, Funding and Partners

Team

• Full team can be found here (22-7-2021).
• Ron Zheng; founder

Partners

• Mentions the following on their Ecosystem page (22-7-2021):

Loopring, DFI.Money, Tokenlon, SakeSwap, Moonswap, DODO, Oasis Protocol, Nervos, Huobi ECO Chain, Solana, OKExChain, Consensus Lab, Bytom and others.

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