In a world beset by a pandemic and an economic crisis, the fight for liquidity is heating up as the amount of money in people’s wallets and savings accounts shrinks. As perverse as it might be, the money is still there, and there is plenty of ‘dough’ floating around – it has just been moved to the usual locations. The books of businesses and the ultra-wealthy.
Amazon’s Jeff Bezos hit the psychological and historical mark of $196 billion in net worth on January 7, 2021, becoming the world’s richest individual. Elon Musk of Tesla, with his ‘humble’ $185 billion net worth, is trailing him by a’meager’ margin. According to a World Bank estimate, the number of extreme poor in the world will rise to 150 million in 2021 from 115 million in 2020, despite the fact that an estimated 24.7 percent of the global population lives below the poverty line.
When money continues to pour from the pockets of the world’s ordinary citizens into the pockets of the ‘Golden Million,’ a legitimate question arises as to what sources of income are still available to exploit in order to make ends meet. Jobs are becoming scarce as businesses continue to cut costs and lay off thousands of workers, and the ability to earn money in any way possible while doing temp work is becoming the new reality.
Fortunately, there are markets that have developed completely outside of the major economic regulators and powerhouses, the most notable of which is the crypto sector. The crypto market has recently created the DeFi field, which has provided a world of untapped opportunities for its participants to generate passive income by providing liquidity to staking pools, thanks to its own dynamics of evolution.
The WILC – Wrapped ILCOIN token, which is tradable at a one-to-one ratio with the native Ilcoin and is accessible on the enormously successful Uniswap decentralized exchange, is one of the most recent assets to storm the DeFi market as a lucrative and enticing instrument up for staking. WILC users will benefit from the best of both worlds of the crypto market – trading and staking – by staking their WILC assets in liquidity pools at a 50/50 split with common coins like DAI, USDT, and ETH.
The liquidity pools would produce passive income in the form of incentives to stake providers in the form of commissions from platform operations. The incentives, which are worth 0.3 percent of the total sum of liquidity stakes, are immediately transferred to the custody of the WILC asset provider and can be removed, sold, or traded as the holders wish.
WILC has seen a large increase in value since its introduction on Uniswap, indicating that demand for stakable assets in the DeFi space is increasing, as are their prices. Given the influx of new users looking to take advantage of the new staking systems and the advantages they offer, the increase in demand is understandable. Because of these complexities, liquidity pools automatically change the balances of WILC stakes and their pairs based on the buy/sell behaviour of other platform members, ensuring staker stability.