About WePiggy

WePiggy is an open source, non-custodial crypto asset lending market protocol. In Wepiggy’s market, users can deposit their crypto assets to earn interest, or borrow others by paying interests.

WePiggy Coin (WPC) is the governance token of WePiggy protocol, with a total amount of about 8 million, which is completely generated through mining, no VC allocation, no private sale, no pre-mining.

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%.

Contract Risk

All WePiggy’s contracts will be submitted to more than one professional blockchain security companies for auditing.

We will update the audit progress here:

Mining contracts:
Timelock has been deployed, Txn Hash here, official audit completed by SlowMist - Certificate here.
Audit report download here:Wepiggy-DeFi Smart Contract Security Audit Report.pdf

Migration&Lending contracts:
Official audit completed by SlowMist - Certificate here.
Audit report download here:Wepiggy-DeFi Smart Contract Security Audit Report-20210120.pdf

Kindly reminder:
Security audits cannot completely eliminate all risks! Be sure to invest within your risk tolerance.
DO NOT invest all of your assets on WePiggy, to avoid unbearable asset losses, especially as a liquidity provider.

Admin Key Risk

An admin key has the highest authority to control the contract, can be used to modify various mining parameters (such as modifying the mining weight of each pool, adding new pools, etc.), or suspend smart contracts in case of an emergency.

It is only at the initial period after deployment, the core team can use it for system upgrades and mining parameter adjustments.

If everything goes well after launch, the core team will add Timelock and Multi-sig for the smart contracts, to eliminate this risk.

Assets Risk

1. The crypto assets which are staked in WePiggy’s mining pool may suffer a big loss due to the bad market conditions.

2. If you’ve already borrowed any assets in Compound or Aave, please don’t use the same wallet to deposit all cTokens or aTokens mining in WePiggy. To avoid the liquidation due to insufficient value of the collaterals and the drastic fluctuations in Token prices.

3. Users deposit aTokens into WePiggy’s mining pool. The principal is safe, but when withdrawing aTokens, they cannot get the deposit interest from Aave. The interest will be obtained by WePiggy’s mining contract. Since the APY for depositing in Aave for each address is not high, but the cost of calculation and storage using the contract is very high, and it will bring new code risks, and also increase a lot of additional gas costs for user transfers. Therefore, the core development team does not intend to deal with this issue at this stage. Regarding how to use this part of the funds, the core development team does not intend to take it as their own, and will solicit opinions from the community in the form of proposals. The initial plan is to use all the interest to buy back WPC tokens.