Decentralized finance has become the most popular facet of the crypto industry over recent months. The value of cryptocurrency locked in Ethereum-based DeFi contracts has surged over 1,000% since the start of 2020; simultaneously, the value of coins pertaining to this space have rallied exponentially.
Walletreum, a cryptocurrency management tool, intends to capture the DeFi trend with its core products and the WALT token.
What Is Walletreum? What Are Its Main Features?
Walletreum is an “innovative and efficient crypto-asset management tool” that is aiming to become a core aspect of the decentralized finance space. In doing so, it intends to offer its users a “road to financial freedom.”
The project started Research & Product Conceptualization along with the team acquisition in late-2018, but recently, Walletreum has begun to pick up operations. The pre-sale of the native utility token of the project, WALT, just took place, raising 100% of the target sum within the span of eight hours. The public sale of WALT, where a majority of the funds will be raised, will take place in the near future, having seen strong interest from the community.
The hype around Walletreum is due to the project’s extensive product lineup that should enable crypto investors to more efficiently operate in decentralized finance.
Walletreum’s first and foremost product is Algon, an artificial intelligence trading software that adapts over time to maximize risk-adjusted gains. Algon was built with a focus on ensuring users are profitable/losses are minimized during all phases of a market, including a bear market. Algon focuses on rebalancing user holdings between Bitcoin, altcoins, and stablecoins. The code purportedly has a 4-6% per month track record, “even in a bear market,” according to the whitepaper.
Algon has three iterations: Algon X1, Algon X2, and Algon X3. Each iteration offers a different trading strategy to fit a user’s preference or risk-tolerance. For instance, Algon X3 is a trading bot focused on weighing arbitrage, cash flows, on-chain data to obtain yields.
Another facet of Walletereum is its lending and borrowing system, which is integrated into Algon.
Algon acts as the intermediary for lenders and borrowers on the platform, which should help to mitigate downside and increase the potential upside of stored funds during all market phases.
Walletereum’s money-market system differentiates itself from other DeFi platforms and centralized finance equivalents through its “Safe Credit” system. Safe Credit allows users to take a loan on crypto collateral “without selling it, without fear of liquidation, with a minimal interest rate, without KYC, and no depreciation of user funds.”
Users of the lending and borrowing functions integrated into Walletereum will earn WALT coins based on their usage. The first half of the coins distributed in this yield farming phenomenon will be given to lenders, and the rest will be given to borrowers.
Finally, Walletreum has ZeroSwap, which is a Walletreum internal crypto-to-crypto swap feature that allows users to quickly and easily swap one crypto asset for another without paying any transaction cost. This should help users save on gas fees, which are quickly pricing out many Ethereum users. All the swapping will happen in the internal pools of the platform with virtual asset-backed tokens.
The WALT Token
Core to the Walletreum experience is the WALT token, which as aforementioned, can be purchased and/or earned by using the DeFi platform.
WALT is an ERC-20 token based on the Ethereum blockchain. Only 50,000,000 of the coins will ever exist. The 50 million WALT coins will be distributed in the following manner:
- 18% for Walletereum company reserves — coins will be distributed over a ten-year vesting schedule
- 16% for the public scale of WALT
- 12% for the pre-sale of WALT
- 4% Strategic sale allocation
- 9% for the core team behind Walletereum
- 7% for the marketing of the projects
- 4% for the advisors of the project
- 30% for staking, listing fees, and liquidity
Staking Reward 10%: 5 million
- 45% annual for first year
- 35% in 2nd year
- 25% for next years
WALT Farming 10%: 5 million (4500 WALT per day will be distributed)
Initial Liquidity 10%: 5 million
Along with acting as an investment, WALT will have utility in the Walletereum wallet.
According to the project whitepaper, holding over 1,000 tokens in your wallet will give users access to the following benefits:
- Zero withdrawal fees
- Zero fees to your lending position before the period where funds are locked ends
- A 20% discount on the interest rate borrowers are charged
- An ALGON X3 package
- Access to the ZeroSwap product
- Access to the WALT farming mechanism, which distributes cryptocurrency to those borrowing or lending on the platform
This means that users of Walletreum holding over 1,000 of the WALT coins will have a vastly better experience than those without those coins.
WALT will also have a staking function that will allow users to earn 45% on their deposits for the first year, then 35% in the second year, and 25% in the years after that. Staking was originally intended to launch in 2021 but the plans were expedited for this feature. Staking is expected to go live within 1-2 weeks of Walletereum’s launch.
Walletreum recently joined a strategic partnership with a well-known DeFi ecosystem that connects blockchains to bolster adoption, for WALT staking. The partnership will allow Walletreum to access more users while also ensuring that the process of staking WALT is operatable in the coming days.
What’s Next for the Project?
Walletreum is planning to parlay the success it has seen thus far into better products and integrations further down the line.
According to the company’s roadmap, after WALT is listed on leading exchanges, the coin will gain utility within the Walletreum platform. Walletreum also intends on adding more tokens into the Walletereum platform, with that Walletreum will launch its own mobile application for iOS and Android devices.
In 2021, the company intends on launching a fiat portal in the Walletreum ecosystem. This will allow for the creation and distribution of a WALT debit card, thereby allowing users to spend the profits they make in decentralized finance.
Walletreum’s developers are also currently working on a Liquidity Aggregator Hybrid Exchange, which should enable users to more efficiently swap their tokens within the application. And so on there’s a lot of exciting features to come within Walletreum’s ecosystem.
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