WISE is a Proof-of-stake (PoS) cryptocurrency that rewards you for staking your funds in the WISE contract.
WISE Staking is today one of the easiest and probably the best ways to earn with cryptocurrencies. All you have to do is start staking in WISE by sending ETH to the contract. In return, you’ll get guaranteed interest (up to 5% per annum) during the length of the stake. In addition, you get benefit through the price appreciation of your WISE stake.
WISE Stakes are more secure, flexible, and contain less risk than most of the traditional investment instruments such as bonds and CDs (Certificates of Deposit). Unlike bonds, WISE allows you to withdraw your interest even before maturity. Also, you can easily liquidate your funds (in WISE stake) in case of an emergency.
So, now, you must be wondering exactly how to get started with WISE Staking or how to reserve tokens in WISE. Well, here’s the step-by-step process to reserve WISE and start generating interest.
The process to create a WISE stake is quite straightforward. Do this in the following three steps:
The first step is to reserve WISE. There will be a 50-day launch period (starting in November 2020), during which anyone can reserve WISE (and create a stake) by sending ETH to the WISE contract.
Around 5 million WISE will be available on each day of launch. That’s about 250 million WISE in total. WISE tokens will be distributed among the investors according to the ETH sent by them.
In exchange for your ETH (that you send to the contract), you’ll get WISE tokens that you can then lock up (stake) in order to generate interest over the stake length. You can choose your own stake length (duration) as well as the number of tokens you wish to lock up. The longer and more WISE you stake, the more interest you’ll generate.
The interest generated through WISE staking can be withdrawn by the holder at any time and even multiple times before maturity, for a zero fee. However, if you wish to end a stake before maturity, you’ll have to pay a penalty.
The penalties generated through premature withdrawal are redistributed to other stakes in WISE.
Once you have reserved WISE, you can sit back and relax. Your stake will automatically generate interest, which you can redeem at any time you want. Once your stake matures, the principal amount (tokens) along with generated interest (if you haven’t already withdrawn it) can be redeemed at any time. There is no penalty on a matured stake.
You can cash out your stake instantly using the Uniswap Exchange, which has been equipped with a massive pool of liquidity to ensure the seamless availability of cash to investors.
Staking in WISE is both flexible and risk-free. You get the freedom to choose your own stake amount and length. There is no minimum or maximum limit. Moreover, you have the flexibility to withdraw or cash out even before maturity.
In addition, you get a unique and highly rewarding referral system, where you can earn up to 10% commission (in WISE tokens) for referring 50 or more ETH during launch. Moreover, you can get a 10% ETH bonus for signing up and reserving WISE using a referral link.
Read more about WISE staking in the whitepaper.