Cryptocurrency projects have proven, without a doubt, that blockchain has a bright and influential future ahead. Yet, most of these cryptocurrency projects have not tackled being widely available for general users in the crypto sphere. Full-scale implementation in various industries has not yet been achieved.
What is Walletreum? What are its main features?
Walletreum encompasses various real-world applications and is an innovative platform that encompasses several efficient management tools for cryptocurrencies, ready for real-world application and widespread adoption. The management tools include Lending, Borrowing (Safe Credit), WALT Yield Farming, and Zero Swap. Furthermore, Walletreum has designed a revolutionary solution to price depreciation in bear markets for both lenders and borrowers and maximizes profits for lenders and borrowers in a bull market, thanks to their AI trading algorithm, ALGON.
Walletreum's technology and platform addressed critical issues in widespread adoption, which essentially lowers barriers-to-entry into cryptocurrencies by providing valuable and easy-to-use services for experienced traders, investors, and non-crypto users to enter the sphere and take advantage of its unique products and services. In order to fully comprehend the extent to which Walletreum will bring about wide-scale adoption, it would be wise to look at precisely what they are bringing to the table and take a look at the management tools they provide in this unique platform. Below, we will outline all the tools and details that the Walletreum platform encompasses.
Algorithm trading refers to the use of a computer program or a system that executes trades on the market, according to the coded sets of rules, used typically in stock markets and even in cryptocurrency exchanges. This system takes advantage of statistics and mathematical models to trade for arbitrage opportunities across a basket of assets on exchanges. The difference between algorithmic trading in typical legacy markets and cryptocurrency markets is that the cryptocurrency markets are significantly more volatile, bringing significant swings in prices and trading opportunities, as well as never closing, unlike traditional markets.
ALGON is an AI, which is written in 50,000 lines of code, which learns with time via Deep Learning and can be scaled according to the trading volume. ALGON was designed explicitly for bear markets, which is something that differentiates algorithmic trading from traditional types. What also differentiates Walletreum from any other DeFi platform is the fact that it has the ability to prevent depreciation of assets in bears markets, where ALGON is specifically designed to do so.
In bull markets, ALGON automates rebalancing, which buying BTC and trading altcoins against BTC. In bear markets, it sells BTC and altcoins to stable coins. In determining the conversions, historical data, market statistics, and short positions are considered, which also helps ALGON continuously improve its performance. After testing ALGON from May 2019 in a bear market, ALGON has shown to have a track record of 4% to 6% per month in returns.
ALGON has three different modules, which are designed depending on the volume of trading chosen by the user:
- ALGON X1 is designed for lower trading volume, and in order to utilize its algorithms, the user requires 500 WALT.
- ALGON X2 requires 40,000 WALT to use, and is based on more aggressive trading algorithms, as well as utilizes multidimensional strategies with maximized returns and risk management.
- ALGON X3 required 200,000 WALT, is used for high-frequency volumes, and uses various forms of analysis, including Technical, Blockchain, Multi-exchange, statistical anomalies, cash flow movements, supply and demand, as well as coin arbitrage, as added features.
WALT token utility
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 Zero Swap 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.
Lending and borrowing
ALGON is used for Walletreum’s other management tools, namely Lending and Borrowing, where lenders and borrowers essentially lend their assets to ALGON, where ALGON returns the lent amount in APY. When a borrower takes a loan from ALGON, they pay APR to ALGON, while ALGON repays the crypto asset minus the fee. ALGON would play the role of a fund manager for lenders and borrowers, while securing their cryptocurrency assets from price depreciation in bear markets, and maximized profits in bull markets.
Lending with Walletreum allows lenders to offer loans to other borrowers while earning yields for their holding. Typical lending platforms miss the aspect of asset depreciation in bear markets, whereas Lending on this platform is backed by ALGON, which is able to yield profits even in bear markets.
Borrowing (Safe Credit) will allow borrowers, with the help of ALGON, to take a loan on their assets without selling it, without fear of depreciation, without KYC, with minimum APR costs, and no depreciation of user’s locked tokens in bear markets. With an APR of 4.3%, Walletreum has an advantage over the majority of DeFi lending platforms.
Zero Swap is a unique swapping tool on the Walletreum platform which allows cross-chain transactions at absolutely no cost for swapping. It allows users to easily and quickly swap one crypto for another without the transaction costs incurred with other swapping platforms, which has been a major problem due to lack of scaling, during congestion of the network, as we have seen for example with Ethereum and Uniswap. All the swapping will happen in the internal pools of the platform with virtual asset-backed tokens.
Roadmap and future plans
The project also has a very ambitious Roadmap, having already achieved things ahead of schedule. They plan to partner with mercuryo.io to bring about mass adoption, where Mercuryo will be providing their services to bring about WALT bank cards, allowing WALT to be used worldwide in ATM's, restaurants, stores, hotels, and anywhere where card payments are available.
Walletreum has released its Main net on 24th October, on Saturday, where users can take advantage of the platform's initial components, Lending, Safe-Credit, and Zero Swap. Walletreum partnered up with Ferrum Network to launch WALT Staking ahead of the planned schedule on community's demand and staking pools filled within a few hours of the launch. The team also plans to bring yield-farming ahead of schedule and burn all of the team allocated tokens, which will decrease their total supply by 9%, with already very attractive token economics.
Overall, Walletreum brings a multitude of innovative and revolutionary features to the sphere, which can be said to have many advantages over existing platforms. We look forward to seeing Walletreum complete their Fiat integration and the WALT debit card by Q1 2021, and their Android/iOS Apps by Q2. With so many features and advantages, it is clear a bright future lies ahead for Walletreum.
Visit Walletreum Website: https://walletreum.com
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