WingRiders Monthly Update - May

This month WingRiders became the first Cardano DEX to provide support for WalletConnect. Furthermore, Lace wallet is now supported on the DEX bringing the number of wallets to 11. Read below for details of these and other updates.

WalletConnect is now live

WingRiders is now the first DEX on Cardano to integrate with WalletConnect via the Flint wallet. You can now seamlessly trade, provide liquidity, and engage in DeFi activities on WingRiders DEX directly from your Flint wallet mobile app.

WalletConnect is an open-source protocol that connects your mobile crypto wallet to other decentralized applications and other crypto wallets.

The protocol does this by scanning QR codes and deep linking, which creates a remote and encrypted connection between your mobile crypto wallet and a specific DApp.

Simple graphs UI update

Another useful feature added this month was the addition of simple graphs beside all ADA swap pairs. You can now see this important piece of data in graphical form to aid your trading and investment decisions. Of course, full feature graphs are available in the Pro version. Access it here by selecting any 2 tokens and the graph will automatically appear.

Lace wallet support added

Lace wallet, the latest wallet to go live on Cardano, is now supported on WingRiders. Lace wallet is a light wallet platform built on Cardano. Its first release includes a light wallet, an NFT viewer, an easy staking feature, and a decentralized app (DApp) connector. Unlike full-node wallets, light wallets do not synchronize the full copy of the blockchain. Lace is all about ease, allowing you to manage your digital assets and interact with Web3 without all the complexities of a full-node wallet.

Live events

In May WingRiders hosted two Discord live events for the community. The first covered the latest features and how to use them.

The second was about how to evaluate if a cryptocurrency token is undervalued and to really answer the question “Is the $WRT token undervalued or not?” Both events were well received by the community and more events like this are planned for the coming months.

WingRiders hosted another engaging Twitter Spaces with 4 of the top influencers in Cardano to understand their views on the current market cycle and the challenges and opportunities within the Cardano ecosystem for projects and investors.

Ray Network farm extended

Great news, the $XRAY double farm has been extended this month and should go on for another 5–6 months! The APR for the next epoch is 35.96% (boosting included).

3 new meme coin farms are live

We’ve opened 3 new meme coin farms with DGAF, SNEK, and STABLE, with amazing APRs starting at 333%!

DGAF coin is a meme coin based on the Cardano blockchain. It is a deflationary coin where the team's number one goal is to take the coin out of circulation. Providing more value to holders.

Snek creators call the token “the chilliest meme coin on Cardano.” Earlier this week, Snek demonstrated staggering weekly growth of more than 200%. Since the all-time low when the coin was launched on May 15, it has shown a massive rise of 336.37%. The total supply of it constitutes 76,715,880,000 Snek. The coin is currently ranked 2,729th on CoinMarketCap.

According to the project, StableCoinAda is galloping into DeFi with the most unstablecoin on Cardano. Our goal is to highlight the best of the Cardano ecosystem in a way that helps to educate and onboard users in crypto through the power of memes.

Farm yields going strong

It was also great to see that farm performance across the board is strong, given the current macro market conditions. At the time of writing the top performing farms apart from the three new meme coin farms were;

$ADA / $VYFI = 93%
$ADA / $DJED = 73%
$ADA / $AADA = 50%
$ADA / $INDY =59%

Support for small SPOs

WingRiders keeps highlighting three of the smaller staking pool operators (SPOs) every week. all in the interest of encouraging more decentralization. Don’t forget to vote for any stake pool of your choice, where you want your ADA to be staked.