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The WLP ERC20 token represents the underlying assets in the WINR Liquidity Pool. It is a liquid token with a value of USD and be used as collateral or for farming strategies through various vaults. The price of WLP appreciates over time as players lose tokens, and these assets are added to the index composition.
Providing liquidity to the WINR Liquidity Pool mints the address proportional WLP tokens to the liquidity provided. WLP tokens could be bought or sold at any time by directly interacting with the WINR Protocol smart contracts or through the interface provided by the platforms built on top of the WINR Protocol.
There is a minimum of 0.15% and a maximum of 0.75% fee while purchasing or selling WLP. The fee range is decided by the targeted weights of the ERC20 token the transaction is being made with.
Below is the formula that determines the price of WLP.
All rewards are paid in WLP after the rewards have been converted into WLP.
- The WLP token is the counterparty to all the player transactions. When players constantly win, the composition may temporarily lose part of its assets. This will decrease the price of WLP until the losses of the players sum up and restore the lost assets.
- The assets in the liquidity pool have volatile USD values. This may affect the price of WLP in short periods.
- There is a smart contract risk. Please refer to the Audit section.