2020 has been a major step forward for Wanchain in realizing the vision initially set out in our whitepaper several years ago. We have successfully launched our decentralized, permissionless, and community controlled cross-chain wanBridges with Wanchain 5.0, and are continuing to iterate and improve our cross-chain technology. Our wanBridges are a major technical achievement, and with them completed, in 2021 we will shift our focus from low-level infrastructure building to ecosystem expansion. In 2021 we will focus on expanding the number of chains connected by our decentralized cross-chain technology, and on fostering the development of applications which benefit from using our tech. We will integrate several new public chains and many new assets. Another major focus will be on the development of Wanchain’s developer community.
New Asset & Blockchain Integrations
- Integration of XRP
- Integration of DOT
- Integration of other chains
- Additional ERC20 tokens
We’ve had our eyes on the Polkadot ecosystem for quite some time, and they will form big part of strategy moving forward. We plan to integrate Polkadot and the DOT token as well as other Substrate based tokens. Of course we will continue to integrate other new ERC20 tokens in order to make them available for usage in the Wanchain DeFi ecosystem which has seen major growth in recent months including WanSwap and WanLend, as well as several other major products under development such as WanFarm and other DeFi applications.
- Upgrade of wanBridges to increase node operator profitability and make new chain integration more efficient
- Upgrade economic model of wanLend
The current wanBridge model allows for assets to securely and cheaply be transferred between different blockchains. It’s a milestone for Wanchain and for the blockchain industry in general in terms of its technological achievements. Despite this, there is still room for improvement, particularly in terms of the scalability of the model. The current model requires that a new Storeman Node group be established for every new pair of blockchains to be connected. From a security model this is fine, but in terms of economic scalability, it’s not acceptable for a model which needs to support multiple chains. The model would require an ever growing number of Storeman Node groups in order to connect all blockchains. Moreover, since the collateral in each Storeman Group can only be used for transfers between the two chains connected by that group, it does not allow for efficient use of collateral across all chains.
In 2021, we will introduce a new wanBridge model which allows for a SINGLE Storeman Group to connect MULTIPLE blockchains and use their collateral to power transactions between ALL blockchains connected by the group. This allows for much more efficient use of collateral and for wanBridge technology to scaleably connect essentially any number of different blockchains.
Power Up With Liquidity Mining
- wanFarm launch
- Mining incentives for cross-chain liquidity
In the world of DeFi, Liquidity is King, which is why we’re super excited to be welcoming wanFarm to our WAN Family. wanFarm is a liquidity farming application which will allow users to lock up liquidity tokens such as Uniswap’s UNI-V2 and others in order to earn rewards for providing liquidity. wanFarm will be used strategically to drive liquidity to the parts of the Wanchain DeFi ecosystem where it is needed most. The increases in liquidity will in turn increase the functionality of applications in Wanchain’s ecosystem, which will in turn lead to more users. More users will then in turn lead to higher rewards for liquidity providers, which will establish a virtuous cycle which then leads to increased liquidity.
Showing Our Devs Some Love
- Introduction of new dev community grants
- New developer tools (sdk & api) to make it easy to integrate wanTokens
- Promotion of wanTokens for use in cross-chain DeFi
It has been a great year for the Wanchain developer community. Community devs such as ‘Morpheus’, ‘CryptoFennec’, ‘Neo’, and many others have made amazing contributions to Wanchain projects such as WanSwap and WanLend, and some have even developed awesome Wanchain based projects totally on their own — such as CryptoFennec’s awesome WanStakeInsight Wanchain explorer. In 2021, we intend to kick our developer community into overdrive with an all new set of developer grants which will be available to be paid to any developers who contribute to the Wanchain ecosystem. We will soon publish more information about how developers can get paid to build on Wanchain, so make sure to stay tuned to our Telegram and Twitter! And of course, we ALWAYS welcome any developer who has an idea to pitch directly to us. Just get in touch with one of the admins on our official Telegram chat and they will help connect you with the Wanchain dev team.
Wanchain is the infrastructure connecting the decentralized financial world. Wanchain’s live cross-blockchain solution is EVM-based, includes optional private transactions, and provides a decentralized, permissionless, and secure approach for interoperability. Wanchain has employees globally with teams in China, the USA, and other team members around the world in Asia, Africa, and Europe.