WingRiders
About WingRiders:
WindRiders
Unlock the true potential of your utility tokens on Cardano by exchanging between assets, gaining from liquidity provision, farming, and boosting with WingRiders. Co-shape Cardano's decentralized future via the WingRiders’ DAO. The platform's future is in your hands.
Thus WingRiders is a DAO-operated, innovative DEX on Cardano, utilizing cutting-edge technology developed by leading engineers in the space. The user-friendly platform provides users with numerous options for maximizing capital efficiency for ADA and Cardano native assets they own. These include swapping between assets, autostaking of ADA (voted by the liquidity providers), providing liquidity, liquidity mining, and increasing gains using the innovative Boosting Vault. The only DeFi platform on Cardano that allows a user to benefit from up to six gains by simply providing liquidity and farming on the DEX.
The platform's safety and security are top priorities. Any new feature or functionality is subject to a rigorous internal and external auditing process before deployment to ensure the safest trading environment.
There are currently over 240 pools, many farms, with several of them being double-yield ones, more coming online, and a pioneering DAO governance platform. The platform currently supports 9 wallets in total, two of which are hardware wallets, ensuring even more security for user’s funds. The direct connection of a Ledger or Trezor hardware wallet via an Android mobile device adds a new layer of convenience and protection for carrying out actions on the go when interacting with the DEX. You can also connect to WingRiders via the Eternl wallet DApp connector, direct from the UI.
Linking your wallet with the WingRiders DEX serves as a crucial step, establishing a secure and direct connection between your wallet and the platform. This connection unlocks a plethora of services, enabling you to engage with various functionalities seamlessly. Once your wallet is connected, you gain the capability to monitor your account balances, initiate token swaps, provide liquidity, partake in yield farming, and access other DeFi features. This direct link ensures that you maintain full control over your assets, execute transactions effortlessly, and harness the advantages of decentralized finance, all without the need for intermediaries or central authorities.
To establish this connection, simply visit app.wingriders.com and click on the "Connect wallet" option. From there, you can select your preferred wallet from the available choices. WingRiders offers a multitude of benefits, and your involvement in liquidity provision, staking, yield farming, boosting, and governance activities within the platform can be highly rewarding.
Liquidity Provision: Engaging in liquidity provision entails contributing your ADA and other tokens to the DEX's liquidity pools. This action facilitates the exchange of various assets and bolsters the overall liquidity of the platform. Liquidity providers typically earn a share of the transaction fees generated by the DEX, creating incentives for their active participation and contribution to liquidity.
ADA Staking: Staking your ADA, Cardano's native cryptocurrency, actively contributes to the security and decentralization of the Cardano network. WingRiders automatically stakes all the ADA you provide to a liquidity pool. In return, you receive regular rewards in the form of additional ADA. Staking allows you to support the blockchain's stability and integrity while enjoying passive income from your ADA holdings.
Yield Farming: Yield farming involves optimizing your existing assets to maximize returns within the DEX ecosystem. Whether by providing liquidity to specific pools or participating in yield farming programs, you can enhance your earnings through tokens or fees generated by the platform. Yield farming empowers you to optimize your holdings and potentially increase your overall gains within the DEX.
Governance Participation: Engaging in the platform's governance gives you a voice in the decision-making processes that shape the DEX's future. As a user, you can actively participate in voting on proposals, suggesting enhancements, and contributing to the platform's development. By participating in governance, you play a pivotal role in decentralization and community-driven development while ensuring your input influences the platform's evolution.
Participating in liquidity provision, staking, yield farming, and governance activities within the Cardano DEX offers numerous advantages. These activities present opportunities for passive income, enhanced returns on your assets, active engagement in decision-making, and the chance to contribute to the DEX's growth and success. By participating, you not only reap financial benefits but also become an integral part of the vibrant Cardano community, actively shaping the future of decentralized finance on the platform.
Influence the future of WingRiders
As a WRT holder you can participate in the voting process regarding key decisions for the project’s development. The DAO members can propose various changes or even change the voting power of the governance token. Feature governance votings on:
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protocol parameters of the platform,
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which features will get added next,
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upgrading modular smart contracts,
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fee parameters of the platform,
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selecting what farms will be enabled, including their reward allocation.
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