WISE, as you may already know, is a proof-of-stake cryptocurrency that rewards its users for holding (staking) their funds in the contract. As a PoS token, WISE lets you generate interest by reserving tokens and creating stakes in the Liquidity Transformer (LT) Epoch.
So, what’s a Liquidity Transformer (LT) Epoch and what is its role in WISE staking?
Let’s find out.
WISE Staking - Liquidity Transformer (LT) Epoch
A user who wishes to participate in WISE staking can start reserving their tokens during the launch period. During the 50-day launch period of the WISE contract, interest users will be able to reserve WISE by sending ETH (or any ERC-20 token traded on Uniswap V2) to the contract.
This 50-day launch period is officially called the Liquidity Transformer (LT) Epoch, as it helps create a liquidity pool (of ETH) on the Uniswap exchange.
Upon the conclusion of the LT Epoch, i.e. from day 51, users can start minting the tokens they reserved earlier.
The LT Epoch duration will be 50 days, each day of which a fixed number of WISE tokens will be available to be reserved by those who deposited ETH to the contract that day. The amount is fixed at five million per day, for most days. On other days (called random days), the WISE amount may be randomly set within a predefined range as determined by the contract. The contract will use the Provable (formerly called “Oraclize”) smart contract's Random Datasource interface to determine the number of tokens on random days.
The WISE amount for a particular day will be split amongst the users who sent ETH to that day, in exact proportion. For instance, a total of 10 users sent ETH in the same proportion, then each user will be liable to get 10% of the total WISE amount, i.e. half-million WISE to that day.
A user who reserved WISE on a particular day will be able to mint the WISE of that day immediately after the LT Epoch ends.
Reserving WISE tokens in LT Epoch
In order to reserve tokens in the contract on any given day of the LT Epoch, a user will have to send ETH to the contract by assigning it to any open LT Epoch day that has not already been concluded.
The user can assign his reservation to any of the remaining days in the LT Epoch. For instance, a user making a reservation on the 10th day of the Epoch can assign ETH to any of the days 10-50. However, he cannot assign a reservation to days 1-9, as they have already concluded.
A single user can make any number of reservations (stakes) on any one or different days. Even a single reservation of ETH can be spread evenly across all the remaining LT days. This feature, called “dollar cost averaging”, aims to save gas in case you wish to reserve the same amount of ETH for different LT days.
To know more about the WISE reservation process & features in the LT Epoch, read the official whitepaper at https://wisetoken.net/teal/