Users can mint and redeem WiseGLP in the following ways.
▪ Users can recharge WiseGLP with Wise at any time
No fees are incurred when depositing WiseGLP into Wise
▪ Users can redeem WiseGLP for Wise at any time
The exchange of WiseGLP for Wise incurs a 1% exit fee, with 0.5% going to the vault for distribution to WiseGLP stakeholders and the remaining 0.5% going to Wisedy Finance as service fees.
▪ The vault is rewarded with ETH and the position is automatically compounded, resulting in a continuous appreciation of the value of WiseGLP.
This auto-compounding feature will run via an off-chain bot that runs every 8 hours, and will run more frequently as the WiseGLP TVL grows
▪ WiseGLP is license-free, so anyone can build on top of it
Wise -> WiseGLP founders/redeemers are licensed
The fees associated with WiseGLP are as follows.
Exit fee: 1%
This fee is incurred when converting WiseGLP to Wise
0.5% to Wisedy, 0.5% back to the vault and distributed to WiseGLP stakeholders
Vault Fee: 10%
This fee applies to ETH rewards associated with Wise
Example: Wise pays 20% of the ETH APR, the user will receive 18% of the ETH APR and the other 2% will go to Wisedy Finance
Partner Program Exit Fee: Flexible
To ensure that a wide range of products can be built on top of WiseGLP, we have the ability to reduce the WiseGLP exit fees for specific contracts
This will allow for WiseGLP applications with high turnaround rates
The WiseGLP vault will be incentivized by Wise Emissions.
WiseGLP will receive 15% of the Wise liquidity mining emissions
Emissions will be weighted over the first few months.
The first month will have the highest emissions and each month thereafter will be less - which is in line with WiseASSETs emissions.