Wrapped Zero (wZER) Wrap-Up: 9th May
wZER on the Binance Smart Chain (BSC) and PancakeSwap
One month into our campaign to build wZER/USDT liquidity, where do things stand?
April Airdrops are Complete
5,000 wZER were airdropped to users providing wZER/USDT liquidity on PancakeSwap during April. By the final airdrop, 23 different users had provided liquidity and received airdrops.
PancakeSwap Contract Update
Toward the end of April, PancakeSwap requested that all liquidity be migrated to a new contract address, and most of the wZER/USDT liquidity has been migrated to the new contract. Liquidity providers on the new V2 contract can be viewed here, and liquidity providers on the old V1 contract can be viewed here. Because most wZER/USDT exchanges are running through the new V2 contract, you should move your liquidity from the V1 contract to the V2 contract if you have not done so already.
This website provides information and links on how to remove liquidity from V1 and add it to the V2 contract. If you run into difficulties, please contact us for support in our Discord or Telegram communities.
wZER/USDT Liquidity
As of May 4, there is 21,653 wZER and 8,609 USDT of liquidity in the V2 PancakeSwap contract, and 2,196 wZER and 837 USDT of liquidity in the V1 contract. Exchanges of 200 wZER have less than a 1% price impact in the V2 contract, and exchanges of 1000 wZER have less than a 5% price impact. Adding more liquidity will help make larger exchanges have less of a price impact!
wZER Information on PancakeSwap
Typically, wZER price and trade volume information will be available on the PancakeSwap info site, but the info site has been out of date due to really high trade volumes that are making it hard for the info site to keep up. Thankfully, PancakeSwap has a $150,000 development bounty running to design a tracking system that can keep up with their 35,000+ exchange pairs and 800,000+ daily transactions.
While PancakeSwap is working on the info site fix, we’ll keep you up to date with some graphs of wZER trade volume and price!
wZER Trade Volume in April
Although our wZER/USDT pair on PancakeSwap is still new, it saw some impressive trading action during April! On average, 4972 wZER were bought/sold per day, for a total of 144,194 wZER exchanged during April.
wZER Price in April
Here’s how the average daily wZER price (in USDT) changed over the course of April. April was a good month for ZER/wZER!
Moving Funds Between BSC and Exchanges
It’s easy to convert wZER into ZER and ZER into wZER using the wrapping.services gateway, but did you know that it’s also easy to move USDT between the BSC and ZER exchanges? Many exchanges support deposits and withdrawals of USDT using the TRX network (TRC-20) or the Binance Smart Chain (BEP-20), with low withdrawal fees for both options (~$0.30–1.00). You can use the Binance Bridge to move USDT onto the BSC using the TRX network — sometimes this option costs less or is the only option if BSC withdrawals aren’t supported and you want to avoid the high Ethereum (ERC-20) gas fees!
wZER Future Plans
Right now the ZER team is discussing future airdrops for ZER/USDT liquidity providers and staking options for ZER/USDT liquidity tokens. Stay tuned for all of the exciting developments to come!
