The ILCoin blockchain project has released a new instrument designed to provide users with passive income options on the growing DeFi market.
The Wrapped ILCoin (WILC) provides interoperability between the ILCoin and Ethereum networks and relies on cross-chain solutions to ensure liquidity availability and the development of DeFi applications. WILC tokens can be exchanged at a one-to-one 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,” Norbert Goffa, executive manager at ILCoin blockchain project.
WILC is an instrument developed as a liquidity provision mechanism carrier that will allow its holders to contribute their WILC assets in 50/50 pairs with popular coins, such as Ether (ETH), Dai or Tether (USDT), to a variety of liquidity pools. The contribution will allow stake providers to receive rewards from network transactions at 0.3% of the total amount of liquidity they are providing. 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 planning to expand the reach of WILC’s availability 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 promisingly since after the Age of ILCoin retribution, we were able to enter the market with WILC in a relatively short time,” stated Ramiro Faro Vélez, CEO of SYDYG.
The development team of the ILCoin blockchain project has stated that WILC is a vehicle for future technical solutions and has been made available on several applications, which can be downloaded from https://wilc.finance.
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