1. Brief Introduction

WePiggy is an open source, non-custodial crypto asset lending market protocol, officially launched on the Ethereum mainnet on January 18, 2021.

WePiggy-Harmony is part of WePiggy’s multi-chain deployment plan. Not only Harmony, WePiggy has been and will be deployed on many excellent Layer 2 networks and public chains such as OEC, BSC, Polygon, Optimism, Arbitrum, Heco, Moonriver, Oasis Emerald, etc.(Figure 1: Basic business model of lending protocol)

2. WePiggy Economic Model

WePiggy Coin (WPC) is the governance token of WePiggy protocol, which gives the community the power to govern the protocol.

Total amount: 8,000,000,000

For every 1 WPC mined, the WePiggy Foundation will receive an additional 0.39 WPC as a reward. That is to say, the community will account for about 71.94% of the token distribution and WePiggy Foundation will account for about 28.06%.

WPC token distribution, in details:(Figure 2: Full picture of WPC token distribution)

In addition, after the WIP28 governance proposal has been passed, the distribution speed for the first 4 years after the WPC smart contract is updated should be: 280 WPC/block.

3. How Is WPC Distributed on Harmony?

In principle, according to the description of the WIP 29 proposal: https://gov.wepiggy.com/t/topic/1076,
the core development team will periodically adjust the WPC distribution speed of each chain.

3.1 How Is the WPC Distributed for Each Asset in Each Chain of All Networks?

Check details in [WePiggy DAO] → [WPC Distribution]: https://wepiggy.community/dashboard

Calculation method, refer to:
WPC Distribution Speed for All Networks

3.2 The Mining Speed of an User Depends on the Proportion of His Funds in the Entire Market

In the WePiggy-Harmony lending protocol, users can get WPC rewards by depositing or borrowing any assets, and the protocol will automatically calculate the amount of WPC rewards for users.

Depositing mining: User deposit amount in market A / Total deposit amount in market A x Market A depositing mining WPC distribution speed
Borrowing mining: User borrow amount in market A / Total borrow amount in market A x Market A borrowing mining WPC distribution speed

4. WePiggy - Harmony Operation Tutorial

WePiggy-Harmony Tutorials Collection

5. How to Claim WPC on Harmony ?

[WePiggy DAO] -> Pending WPC -> Click [Claim]

6. Know More About WePiggy

WePiggy — A DeFi Asset Lending Market Protocol