WISE TOKEN – A FAIR VERSION OF HEX OR A DIAMOND WITH A FATAL FLAW?
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For those (very few) of you who follow me, it is not a mystery that I was impressed with HEX and even wrote about it. I have been following this project for a year now, but I was very surprised to come across a project that was connected with HEX and in a way similar, but also very different. This project sounded like a crypto fairytale and I literally couldn’t believe what I was seeing and hearing. Due to the fact that this project is being gate kept so far, I have decided to share my thoughts and inform (some of) you about this project.
THE GOOD
WISE token project has a fair launch. I mean this literally. The founders receive nothing (except from the fee regarding referral links that may or may not be clicked and are available to every other user / token holder). The method for launching is similar to HEX and EOS and requires that people send Ethereum in order to receive the tokens. This method of acquiring WISE tokens will end in 50 days (last day is December 31st 2020). But WISE token founders do not keep the Ethereum. Instead, 90 to 99% of ETH will be sent to UNISWAP contract to provide future liquidity for WISE token exchange and keys will be destroyed. Given the fact that this will create a huge liquidity pool (day 11 current balance is: 18,328 ETH and rising), the price will also rise together with Ethereum. Not only that, all fees that will be received in the future from providing liquidity on UNISWAP, will become part of this liquidity pool.
WISE token project rewards staking and has a lot of game theory. The genius idea of Richard Heart, the founder of HEX, who connected time locking and rewarding, with game theory, is really taking of in crypto community and Peter Girr - the founder of WISE token gave it a special twist. Wise token project rewards stackers and referrals, but the rewards are not as generous as those in HEX. On the other hand, the game theory was upgraded and the WISE token origin address does not receive 50% rewards from penalties, referrals etc. & the penalties for stake cancelations are lower. The WISE token project is also trying to protect users spending unnecessary (and outrageously high) gas fees, so they can choose to receive the tokens, spread out through 50 different days, with one transaction. I found this to be very useful and a huge time saver. The WISE token project is even refunding up to 70% of your gas fees for the first 20,000 ETH sent to the contract (current balance: 18,328 ETH).
WISE token project is audited (audit is available to the public) and has a bug bounty program. The auditor company is the same, as the one used by HEX project. To prevent problems, the WISE token project is also offering 100 ETH bounty/reward to anyone who can find a critical error in their liquidity transformer contract or in their staking contract. Additionally, if any other errors are found, minimum 1 ETH reward will also be paid.
Peter Girr - the founder of WISE token is trying to establish new standards for crypto projects and decentralized finance. He seems to be honest and I agree with him - the WISE project is truly fair.
THE BAD
In my opinion, the unnecessary feud between Peter Girr (the founder of WISE token) and Richard Heart (the founder of HEX) is preventing the WISE token to lift of immediately. Ponzi, scam etc. accusations are unfortunately part of all crypto projects these days and I have a feeling that people are getting tired of this. Peter Girr talks a lot about recycling in HEX, but admits that Ethereum went through different addresses and that Richard Hart was upfront saying that everyone who sends Ethereum should expect nothing from it. Peter also admits that he has no way of knowing who is in charge of said addresses, but is still calling HEX a scam and Richard Heart a scammer time stamp:55:26.
That is a text book example of premature (and wrong) judgement.
in January 2020 I myself had doubts about HEX similar to those that Peter Girr is experiencing and I even wrote about possibility that HEX is a scam – THOUGTS ABOUT HEX IN 2020.
But after careful consideration, it was my opinion that a rational person, who weighs the evidence in this regard, is not able to make this judgement. The fact of the matter is that SCAM is deceptive or fraudulent act or operation, conducted with the breach of duty of care. But if the Ethereum was sent to HEX Adoption amplifier, after it was explained that there should be no expectations in this regard (ETH may be donated, sold etc. to anyone) and whoever received it, used some part of it to get HEX, where is the deception. Everyone was told not to expect anything from this Ethereum. So where exactly is the SCAM?
I am sure that the divisive approach (HEX is a scam and only WISE token is perfect or only an idiot would invest in HEX – time stamp 52:40), is not the best way to promote this otherwise wonderful project. A lot of Hexicans made significant gains and would gladly support the WISE token project, if they were even aware that it exists and were not presented as evil/idiots. Therefore, I appeal to Peter Girr to change the narrative and to acknowledge the fact that HEX gave birth to WISE token and (instead of accusing HEX of being a scam) to focus on the differences between HEX and WISE token, or on improvements that WISE token has (there are quite a few). The success of WISE token project will definitely be faster and greater.
Also, Peter Girr, please stop spreading the information that Bitcoin had a fair launch and is all that. It was pre-mined and one address still holds more than 1.1 Million coins. Unlike today's Bitcoin miners, Satoshi Nakamoto didn't split these rewards with potentially thousands of other mining pool users, and instead benefitted from the entire reward himself.
In my opinion, there are a few (possible) flaws in the WISE project. Providing a large liquidity pool on UNISWAP might prove to be a problem for those who expect the price of WISE token to explode. Large liquidity pool prevents the price dumps, but also prevents quick price spikes. The HEX community has benefited tremendously from the resonable liquidity ratio that was on the UNISWAP. Peter Girr s statement that he would be betting on WISE token is understandable, but definitely part of founder’s bias. Who knows what the future will bring for WISE token in this respect?
Secondly, WISE token does not have a guardian angel (origin address) who will protect it. Despite many accusations, HEX origin address has tried to protect long term stackers, facing significant dumps from short term sellers, who just wanted to quickly benefit from the Big pay day. Who is to say that WISE token will never face any kind of threat in the long term? And this might prove to be a fatal flaw in the project.
Thirdly, the community is not as strong as one would like. If HEX.com goes down the HEX community has built several options for Hexicans and even improved the original idea with the STAKER.app, which is a tremendous success. I am currently not aware of this kind of support from the WISE community. Hopefully the support it will grow and WISE-guys/galls, will also have similar solutions available.
CONCLUSION
In my opinion this project has a potential to make it big (really big). If the circumstances will allow and pride will not get in the way, it is possible for the project to be a big success in the Hexican community and also wider. Peter, please find a way to make this happen. There is a WISE saying where I come from: adapt and comply in order to win in the long run.
I wish good luck and all the best to WISE token project.
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If you find any mistakes, please let me know. If you find this in any way beneficial, all donations are welcomed:
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