Waggle Network announced its market protocol via an official blog post. According to the announcement, its marketplace protocol is focused on eliminating the inefficiency in the market for the trading of locked tokens.
Source: Waggle Network
The blockchain platform explained that its community would be able to facilitate fundraising for projects in need. Therefore, the protocol will provide institutional investors to the community. Also, they will be able to participate in exclusive deals to purchase tokens after the IDO has finished. Waggle noted in addition to trading locked tokens. The project will provide features that will leverage the investment playing field for users.
Waggle also disclosed that it conducts strict and diligent KYC processes to ensure only trustworthy and credible projects are listed. According to Waggle, “Project teams which come on Waggle to offer their post-IDO token sales will undergo our stringent screening and KYC to assure their credibility, and you as our community user will get the chance to access our industry-grade due diligence report on these projects.”
How The Waggle Network Operate
The protocol searches for projects facing liquidity issues and provides them with access to capital. As the projects get funds, Waggle provides investment opportunities to trade locked tokens.
The protocol noted that its research team would also develop project review reports for every listed project. This will help users stay updated and assist them in making well-informed decisions when trading locked tokens on the protocol.
4/ Waggle will be bringing these opportunities to our community to participate in top projects in the space. You will be able to participate in exclusive deals to purchase tokens which are subjected to vesting schedules at a discount to their existing market price.
— Waggle Network (@wagglenetwork) August 20, 2021
Additionally, Waggle also has a dashboard where users can track their locked tokens portfolio. Waggle noted that the dashboard would provide an overview of assets saved by users. It will also allow users to track the vesting duration of the locked tokens purchased from Waggle Market.
Notably, the network aims to upgrade the playing field in the crypto economy and, in the process, put liquidity into the hands of people. The project is currently built on Ethereum, BINANCE Smart Chain (BSC), and Solana. Meanwhile, the protocol is working on launching on Polygon.
$WAG Staking and Utility
Waggle further revealed that its native token ($WAG) holders could stake and earn rewards from the platform fees on top of the community pool. Notably, users will be able to choose between staking or locking assets for some time to increase their yield. The tier system Waggle Network has told you how many $SWAG tokens you have to stake.
Source: Waggle Network
Furthermore, the network revealed that the tokens would also enable users to evaluate upcoming projects alongside the listing committee. “You will have a voice in deciding which projects will be featured on Waggle Market. Make your votes count!” Waggle noted.
Also, join us on Telegram to receive free trading signals.
Find out more about the blockchain and crypto space on the Altcoin Buzz YouTube channel.
