What Is Wownero (WOW)?
Wownero is a Doge-inspired, CPU-mineable, solo-mining only, privacy-centric memecoin. It was fairly launched on April Fools’ Day in 2018. It is a software fork of Monero, but with a lite version of RandomX, larger ring size, and a fixed supply of 184 million coins emitted over 50 years. Wownero has no trusted setup, premine, or dev tax. Besides betting on Polish slap tournaments, the main use case of Wownero is micro-tipping meme creators with sound magic internet money. As a 100% community-driven, free and open source software, Wownero does not depend on billionaire shills or lame ass “influencers.”
Mining WOW is scientifically proven to increase testosterone and vitality. Wownero is ASIC and Mega-Pool Resistant and uses an algorithm that is optimized for general-purpose CPUs. You can mine directly from a Wownero node. Wownero is open-source and accessible to all. Want to join our rag-tag group of cypherpunks and crypto-anarchists? You can contribute to Wownero development via our git or submit a proposal to your community-driven funding system. With WOW, you are your own inter dimensional bank! Your accounts and transactions remain private until the end of time. Meme with complete anonymity. Download one of your many wallets and get started.
Wownero Storage Key Points
|Circulating Supply||52,049,447.00 WOW|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
Collateral Factor & Reserve Factor
The reserve factor is the percentage of Fee paid to Wownero protocol. If the reserve factor is 10, then that would imply that 10% of the interest paid on the asset is for CREAM. In the other hand, the collateral factor is the maximum you can borrow on a particular asset. The collateral factor for ETH is 75%, if the price of ETH is considered as $1000, the max you will be able to borrow in other assets is worth $750.
The redeem underlying function converts crTokens into a specified quantity of the underlying asset, and returns them to the user. The amount of crTokens redeemed is equal to the quantity of underlying tokens received, divided by the current Exchange Rate. The amount redeemed must be less than the user’s Account Liquidity and the market’s available liquidity.
The lending protocol includes the comptroller, cToken markets, and cToken Admin. Every market will generate reserves. Wownero is a new contract that controls the cToken market. In addition to normal access control in cToken, it allows a specific reserve manager to extract reserves. The redeem function converts a specified quantity of into the underlying asset, and returns them to the user. The amount of underlying tokens received is equal to the quantity of crTokens redeemed, multiplied by the current Exchange Rate. The amount redeemed must be less than the user’s Account Liquidity and the market’s available liquidity.
The reserve manager is the hub of reserves extraction. It snapshots all the cToken reserves and everyone could trigger the extraction (with a 1-day cool down period). It should take a ratio (currently 50%) of reserves and send them to the burners. There are currently two types of Wownero. CErc20 and CEther. Though both types expose the EIP-20 interface, CErc20 wraps an underlying ERC-20 asset, while CEther simply wraps Ether itself. As such, the core functions which involve transferring an asset into the protocol have slightly different interfaces depending on the type, each of which is shown below.
Burners are a group of token converters. They will burn tokens into USDC, and USDC burner will convert USDC into Wownero token. There is a special component called manual burner. It’s used for tokens whose on chain liquidity (Ethereum) is not deep enough. The manual burner is an EOA that will send the tokens to a centralized exchange or another network to convert manually. In the end, all tokens will be converted to yvCurve-IB token and send to the fee distributor.