News
WiseToken: The Gold standard to DEFI on Binance Smart Chain launching on BSCstarter
WiseToken (WISE) is a community-driven project building its DeFi token on the Binance Smart Chain (BSC). WISE is the first ever ownership less asset backed crypto in defi which has the following features such as:
- Asset backed – meaning that WISE is backed (not pledged) with a large pool of BNB which means the price of WISE token will move with BNB and also independently. This gives its holders an exposure to the phenomena to “Diversification to one Token”.
- No team token – yes, you heard it right. There aren’t any fixed reserve for the team or the developers instead they will get the WISE token the same way any other user will i.e. BUY IT
- No Admin Keys – true decentralisation can be achieved only when there are ZERO % alterations, hence WISE token smart contract is designed in such a way that it will destroys the admin key and make WISE unalterable
Despite the above features being one of its kind, WISE token is been audited by CoinFabrik (Report) and The WISE team also ran a 100 ETH bug bounty for the community to double check the code before launching
Project Components:
- Stake: Earn consistent APY over a duration of time period chosen by user
- Lend: Collateral Lend & Borrow – Leveraged (Like stalking with 1BNB and being able to lend 3BNB and making interest on the entire position)
- Pool: Provide liquidity to partner DEX pools or the WISE token reserve pools
- Hold: Users will be able to take advantage of multitudinous gains from WISE & its backing tokens such as Binance Coin (BNB) as well as Ethereum (ETH)
WISE Tokenomics
The WISE token contract has no set total supply, instead the initial supply minted by the users through the Liquidity Transformer which will fall under a defined range and partially by confined randomness and referral bonuses.
The 50 day Liquidity Transformer has an average of five million WISE available each day, though some days have randomness involved. This means the total supply available in the LT will likely be around 250 million WISE. Due to referrer bonuses, there could be up to an additional 10% minted on top of that (i.e. up to 25 million more).
For more information you can check out the doc section of WISE token here
Use Case of WISE Token
The current best use case for WISE is as a store of value. Since WISE is backed by an
un-removable pool of ETH on Uniswap, the only store-of-value risks are from sells on Uniswap,and the price of ETH itself going down vs the USD. On the other hand, buy on BSCstarter with BNB, compound the gains already seen when BNB is appreciating in price.
Liquidity: 5th largest pool on Uniswap
WISE has the 5th largest pool on Uniswap ($200 million). This locked liquidity acts as a bank to hold the value of WISE to a certain amount of ETH. More purchases on Uniswap increase the amount of ETH backing each WISE. In a worst-case-scenario, if all WISE were sold back to Uniswap, even the last to cash out would get some ETH back, and there would be 28,000 ETH remaining in the pool.
Launch on BSCstarter
WISE is launching a version of it’s contract on BSC in April. This will include a massive 15 day
long 200,000 BNB raise and $550,000 in instant cash prizes (paid out in BNB) for participants in the presale. We intend to create an initial $100 million liquidity pool for WISE on Pancakeswap.
About BSCstarter:
Innovation for bootstrapped projects has been grinding to a halt on the Ethereum blockchain. Exorbitant gas fees have nearly caused new project launches to stall and existing projects to lose user engagement — staking, claiming, and normal trades are costing ETH users hundreds in transaction fees.
And this trend will likely continue.
But innovation cannot be stopped. Over the past quarter, developers have sought lower-cost options to deploy their experiments. The Binance Smart Chain (BSC) has become the go-to platform for new product launches based on Solidity, and for existing projects looking to stay alive.
BSCstarter — it is a community-governed launchpad for raising capital for BSC projects, that isn’t filled with government red tape and KYC rules. Instead, it is the BSCstarter community that will determine which projects to list. It is the BSCstarter community that uses their collective due diligence and DYOR skills to vote Yes or No on projects coming through BSCstarter looking for funds.
The BSCstarter community is self-empowered to:
- Performing due diligence on every submitted application on their own
- For community members holding at least 100 START tokens, approving or denying applicants
- Any community and non-community member can invest in approved START projects
- Community members can approve a future grant of 1,000 START tokens if the project is on track as promised one month after the sale
- FREE audit for projects who successfully complete a raise, by a trusted community auditor not corporate suit auditors
- There are no special conditions — every project approved by our community is automatically given a 1,000 START token Incubation Grant, with a 30-day lock from the day of listing on PancakeSwap.
The BSCstarter developers benefit from:
- A reliable and vibrant, fully self-governed community seeking trustworthy launches on BSC
- An open and self-service application process, available for a one-man dev shop or 100-man operation
- An ecosystem that will help increase their chances of success via connections and potential partners who are aligned with their vision
- FREE contract audits by well-known community members (Rug Detectives and VidarTheAuditor) * A wonderful user experience for their customers
For Developers:
Unlike some of the other options available, the team behind BSCstarter does not serve as gatekeepers of the platform. Neither do we perform KYC or similar vetting to hand-pick projects for our establishment suits and VCs who attempt to continue getting ahead of us. Instead, developers from all walks of life are invited to self-submit their presale on BSCstarter — no approval needed from centralized teams controlled by investment funds! (Ref. Medium)
For Investors:
The team behind BSCstarter appreciates the DeFi community that has helped carry the industry for the past year, because they are us! We are the devs, the degens, apes, and chads/chadettes who are finally given a chance to invest in innovation that provides us with liberty, freedom, and equal opportunity for all. That’s why BSCstarter has an open door policy, where anyone who trusts the peer-review of projects from their fellow community members, can participate in any presale on the platform. (Ref. Medium)
Redefining Startup Incubation Through Blockchain
In the traditional world of startup incubation, project leaders are usually given a small investment after successfully completing their incubation program. They are also given the opportunity to raise more rounds in the future via lead investors and their networks if they continue to execute as originally pitched.
BSCstarter is replicating this exact concept and applying it to the decentralized community on Binance Smart Chain. Together with our hive minds and experiences, our community is collectively responsible for:
- Performing due diligence on every submitted application
- For community members holding at least 1,000 START tokens, approving or denying applicants
- Any community and non-community member can invest in approved START projects
- Community members can approve a future grant of 100 START tokens if the project is on track as promised one month after the sale
- FREE audit for projects who successfully complete a raise, by a trusted community auditor not corporate suit auditors
There are no special conditions — every project approved by our community is automatically given a 100 START token Incubation Grant, with a 30-day lock from the day of listing on PancakeSwap.
Media Contacts:
BSCStarter
Website: https://bscstarter.finance/
Twitter: https://twitter.com/bscstarter
Telegram: https://t.me/BSCstarter
WISE Token
Website: https://wisetoken.net/
Facebook: https://www.facebook.com/wisetokens
Twitter: https://twitter.com/wise_token
Docs: https://wisetoken.net/docs#sec-2-1-1
Telegram: https://t.me/WiseToken
Financial
Web3 Investors from 16 nations converged to witness these 6 Graviton-backed Indian startups make their pitch.
Graviton Web3 Accelerator’s digitally simulcast Demo Day event saw participation from VCs and angels around the world, focused on a cumulative raise of $10Mn for their first cohort.
Graviton, a web3-focused accelerator for emerging markets backed by global VCs such as Hashkey Capital, Moonrock Capital, NGC Ventures, 369 Capital, Ascensive Assets, Stacker Ventures, MH Ventures, G1 Ventures, Infinity Ventures Crypto (IVC), and GravityX Capital, recently organized its first-ever digitally simulcast Demo Day.
The event saw participation from over 70 global investors from 16 countries, with all eyes converging on what the six teams at Graviton are busy building and scaling. These teams have emerged as outliers from a pool of 300+ startups that had applied to get accelerated through the Graviton ecosystem.
Graviton’s uniquely designed accelerator program arms a limited cohort of promising early-stage web3 founders with a healthy infusion of institutional capital (marked by a seed investment into each team), technical grants and integrations from a vast partner ecosystem, mentorship from proven industry experts to help the teams with business strategy, tech fundamentals, growth marketing, and fundraising, as well as expanded networking opportunities to help them raise serious capital in the long run.
“While the ongoing ‘bear market’ sentiment fosters a conservative investment mindset around the world for crypto platforms, we at Graviton believe that world-class technology products led by visionary founders are always ahead of the curve, and always lucrative to serious investors”, remarked Arpit Nik (Founder & CEO at Graviton and a General Partner at GravityX Capital). Arpit and team have been hard at work since December last year, to identify India’s strongest founders with a penchant to build for the decentralized web.
The six teams that emerged frontrunners amidst a plethora of applicants, include:
Spydra – An enterprise grade blockchain solution that is helping large organizations migrate their existing tech stack from web2 to web3, making the transition as frictionless as possible. Led by the seasoned and suave Manish Tewari (with massive previous exits at Koovs.com and Pokkt), Spydra is powering the largest status-quo migration in enterprise tech, since the advent of AWS and cloud-computing. They’re already clocking an annual run rate of $100K in revenue, servicing clients such as Raymond, Myntra, and the National Payments Corporation of India.
Wall – This team is solving one of the most significant challenges of web3, i.e. community building. Wall helps businesses acquire and take community members through beautifully mapped custom user journeys, helping them claim rewards (such as Airdrop tokens), while completing platform-mandated tasks across multiple touch points (such as Twitter, Telegram, Discord, etc). It offsets the community moderation costs for emerging web3 platforms, and after helping 40+ projects design custom reward pathways, Wall is fast emerging as the go-to community building solution for L1 and L2 ecosystems. Wall is helmed by Anuj Kumar Kodam (ex IIT Kharagpur, IIM Calcutta, and formerly part of the founder’s office at Ola Cabs).
Strive – Global opinion on the utility of NFTs is divided, and Strive is here to change that. With a proprietary layer that facilitates the sharing and trading of NFT utilities, the team is expanding the possibilities of what one can do with NFTs today. Using Strive, any business, brand, or artist-led community can monetize their audience and influence with ease. Kartik Mehrotra (ex UC Berkeley) leads the show at Strive Network.
Zoth – Crypto users of today are struggling to find secure and passive income generating opportunities, despite the total value of crypto finance having breached $1Trillion as of 2022. Pritam Dutta (ex Ab-InBev, Mahindra & Mahindra) and team Zoth are on a mission to democratize global access to affordable capital, through the tokenization of real world assets. They’ve already deployed $500K in capital, and have a little under $10M in their managed assets pipeline.
Fetcch – The motto and creed at Fetcch is to make web3 payments as simple as Venmo or Paypal. Mandar Ray, CEO at Fetcch, explains that they’re building an abstracted middleware layer that removes the complexities associated with wallet addresses, which in turn is a giant leap towards the mainstream adoption of web3. Recently, the team has opened up beta access to Fetcch Pay, their flagship payments product.
GG Nation – eSports is booming, and team GG Nation has done a stellar job of capturing the mindshare of student gamers across 250+ Indian colleges in 18 cities. Today, GGNation has more than 200,000 gamers on its roster, with an aim to onboard India’s first million gamers. Abhinandan, the founder and CEO, has a remarkable track record with two of India’s biggest sports IPs, Indian Racing League and Premier Futsal, achieving impressive media value, viewership, and live attendance.
Over the last 16 weeks, these teams have been immersed in interactive workshops with a team of 50+ remarkable mentors – all of whom are established thought leaders in their respective domains. And in exchange for their time and imparted wisdom, Graviton has created a circular rewards model, with each mentor acquiring nominal equity in these teams, proportionate to the time they spend nurturing each product. Arjun Kalsy (ex-Growth lead at Polygon), for instance, has a vested interest in the success of each of these six teams, as one of their growth mentors. The same is true for Parth Chaturvedi of Coinswitch Ventures, Vijay Pravin of bitsCrunch, and many others who have become an integral part of the growth journeys of all 6 teams.
The success of Graviton’s Demo Day is owed largely to the efforts of Program Director Jeffrey Broer, who is a seasoned web3 investor at Mulana Capital, and a highly sought-after blockchain mentor and speaker.
“Supporting visionary entrepreneurs on their transformative journeys in the web3 realm brings me immense joy. I extend my heartfelt gratitude to the nurturing Graviton ecosystem for promoting an inclusive culture of progress. May the six teams embark on a remarkable path of growth and achievement!”
– Vijay Pravin (CEO, bitsCrunch & Growth Mentor at Graviton)
“All hands aboard is the philosophy that drives us to help startups and founders. We’re glad that this team of web3 disruptors came together at Graviton, and forever indebted to our invaluable mentors, who have helped craft this journey together. With everyone’s hearts set on building sustainably for the decentralized internet, we’re just really excited about what the future holds for the Indian web3 space”
– Vishal Sanap (Head of Portfolio Growth & Development at Graviton)
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