Wyvern (WYVERN)

Whitepaper
Last Updated May 20th, 2021


Wyvern Contract Address | 0x470862af0cf8d27ebfe0ff77b0649779c29186db
Live Charts | Click Here to Track Your Investment
BSCscan | Read The Deployed Smart Contract Directly
PancakeSwap | Buy on PancakeSwap (WYVERN/BNB)
Token Burn Announcements | Follow for Regular Token Burn Updates 

 


Introduction


“We trust banks with our money and electronic transactions, but they give this money back to us in the form of loans generating whole waves of credit bubbles with a low level of reserves. We are forced to trust them with our personal details, to believe they are capable of protecting us from thieves who could raid our accounts. Their huge expenses make micropayments impossible.” – Satoshi Nakamoto

The aftermath of the 2008 global financial crisis is arguably the major factor that prompted the rapid research and development leading to the implementation of Bitcoin by the group with the pseudonym Satoshi Nakamoto in 2009. Bitcoin was the first peer-to-peer payment system utilizing decentralized ledger technology and cryptography for recording storage and security respectively, as well as computational proof of work for record validation and state consensus.

This innovation was swiftly followed by the creation of the Ethereum blockchain, which added the capability to not only store and transfer value on a peer-to-peer network, but also the ability to store and deploy computer programs known as smart contracts. Smart contracts open the door to vast possibilities in decentralization.

Smart contract enabled blockchain networks like Ethereum, Tron and Binance Smart Chain made it possible to develop numerous abstractions of various traditional services within a decentralized, peer-to-peer infrastructure, thus eliminating the need for trust or mediating entities, while also ensuring user security. Blockchain smart contracts also bring the added robustness and immutability of data that is guaranteed to implement desired logic rather than depend on human activities which are prone to error and corruption.

 


Wyvern Solutions

A fully decentralized, frictionless, yield-producing, Artificially Intelligent token, on the Binance Smart Chain. Offering automated DEFI rewards to holders.

Wyvern token uses a fair system of taxing each token transaction with a constant percentage. Reducing circulating supply, and redistributing Wyvern rewards to holders to create further value for its users. It applies an automated, built-in regulatory mechanism, to mitigate the risks of price inflation, and gradually reduces total supply in proportion with transaction volume and frequency. At the base of the Wyvern Token, is a unique reflector algorithm that utilizes programmed intelligence to implement a fair and consistent passive accumulation of tokens directly to holders’ wallets.

Wyvern Token is also a unit for measuring ownership in the Wyvern Decentralized Autonomous Organisation (DAO): it facilitates the fair operation of the Wyvern DAO, and enables the execution of non-hierarchical decentralized governance for propagation of decisions directed towards the achievement of the DAO’s specified objectives. Finally, Wyvern will be required to access any future blockchain based decentralized applications and smart contracts deployed within the ecosystem.

 


Reflect Finance Tokens

 

Among the various innovations made possible by blockchain and decentralized technologies is the concept of reflector tokens, implemented using smart contracts.

A Reflect Finance Token (RFT) is a digital unit of value (token or digital currency) that is programmed to generate continuous token rewards to its holders from the transaction fees realized from network activities such as buying, selling, and transferring tokens.

Wyvern token is an excellent implementation of the reflector token concept that uses in-built smart contract-based artificial intelligence to manage and execute transactions on the Binance Smart Chain. Wyvern token ($WYVERN) collects a 10% transaction fee for each transaction, and frictionlessly distributes 50% of the taxed tokens to all wallets holding Wyvern according to the volume of Wyvern held. The remaining Wyvern generated from transaction fees is divided and contributed towards various purposes including providing trading liquidity and platform maintenance, while the rest is taken out of circulation to manage the potential for price inflation.

Wyvern’s taxation redistribution system is implemented using smart contracts written in Solidity and running on the blockchain, offering a transparent and independent automated passive rewards stream for all holders of the token.

 


Wyvern’s Features

 

The Wyvern Token smart contract is a unique abstraction of the deflationary asset principle. It implements an algorithm that enables the achievement of the following objectives:

 


A Fair Stealth Launch

Token distribution is an issue that has always plagued the blockchain space. Often rewarding the rich but leaving the middle to lower class no opportunity. Wyvern token solved this problem by conducting a stealth launch, gradually building a large community of holders and achieving a more diverse distribution of tokens. This prevents a handful of users from holding a large percentage of the tokens. The price of Wyvern is thus protected from a significant downward spiral due to the exit of a few individuals.

As of this writing, the largest non-contract address owns roughly 3% of the total supply, compared to Doge, where the largest holder owns 28% of the supply.

With a 40% burn holdings address which will reduce over time on scheduled dates.

 


Frictionless Infinite Yield

The Wyvern token algorithm enables the automatic and continuous distribution of Wyvern tokens to every wallet that holds Wyvern. The tokens distributed are generated from a 10% transaction fee levied on all Wyvern token transactions, including buying, selling, and transferring tokens from wallet to wallet.

Fifty percent of the realized fee is automatically locked in the Wyvern token liquidity pool, while the other 50% is distributed as rewards to every Wyvern holder wallet according to the ratio of their holdings to the current circulating supply.

The transaction fees, as well as the redistribution of the tokens to holder wallets, are designed to encourage long term storing of Wyvern in order to maintain modest levels of market volatility. This system creates an infinite stream of Wyvern token rewards for holders, regardless of the trading price of Wyvern.

 


Auto Liquidity

One of the biggest issues cryptocurrencies face is the acquiring of liquidity. Most liquidity in the current phase of DeFi is done through farming. Users provide their tokens as liquidity in exchange for a percentage of some of the exchanges trading fees for the pair the user provides. The model fails once users pull their liquidity after rewards are no longer attractive. With Wyvern, this risk is mitigated by the auto liquidity feature of the token smart contract.

As mentioned earlier, the Wyvern token smart contract charges a 10% fee on every transaction. It then deposits 25% of the realized fees as Wyvern in the liquidity pool indefinitely. It also purchases an equal value to either BNB or USDT using its in-built analytic algorithm to determine the better option at the particular time, and adds the funds to the locked liquidity pool. The aim is to ensure market solvency as well as maintain a rising price floor by default.

 


Burn

During the launch phase of Wyvern, 1 trillion Wyvern were sent to the 0x000-01 burn address. A burn address is simply a wallet that no one can or will ever have access to. By sending Wyvern to the burn address, the burn address became a Wyvern holder – and like all other Wyvern holders, the burn address receives a portion of all the Wyvern transaction fees. But unlike all the other holders of Wyvern, these Wyvern can not be moved, ever. This creates a permanent burn of Wyvern, making the token supply deflationary. This also strengthens the ever-growing price floor from the auto liquidity being stacked by transaction fees. A simple way to explain this is: When coins are sent to the burn address, they are coins that can never be sold. So they are negative-sell-pressure.

 


The Dragon Farm (Ultra Staking)

A large problem many RFT tokens face is that the decrease in volume often leads to their death. Once RFT token holders realize it is more profitable to hold the token versus trading it, trading volume sinks and the frictionless rewards dwindle. As No Volume = No fees = No yield = No incentive to hold.

In addition to the benefits offered by the aforementioned auto liquidity and burn innovations, the Wyvern community will benefit from an optimized yield staking contract that will further incentivize the moving and redistributing of tokens, generating volume and therefore, frictionless rewards for holders. In order to keep our market edge and guard against intellectual property theft, the Wyvern community agreed to keep details of the Ultra Staking feature closed to the public until release.

More details will be released about “The Dragon Farm” soon as we approach launch. The name of The Dragon Farm is subject to change.

 


Conclusion

The ongoing evolution of the cryptocurrency and blockchain ecospace has seen rapid growth in terms of diversity of the various explored use case applications of the technology. Perhaps the most significant blockchain and decentralized technology innovation is the elimination of the need for mediators in the transaction process, as that is at the basis upon which every other blockchain powered application is developed. On top of this solution layer lies a host of other valuable abstractions of various traditional products, services, concepts, and strategies.

At Wyvern, we believe that Wyvern is poised to take a leading position in the Reflect Finance Token (RFT) category by continuously dedicating time and resources towards research and development to upgrade and improve upon desired outcomes through the combined efforts of a dedicated team of highly talented and dynamic developers, as well as a growing community of supportive holders of Wyvern, with the aim of delivering a solid passive yield system participants in the ecosystem.

 


Wyvern Developer Addresses

 

Smart Contract Buy/Sell Holdings

0x470862af0cf8d27ebfe0ff77b0649779c29186db
This address grants the ability for users on PancakeSwap, Bogged.Finance, Apeswap, etc.

 

The Dragon & Burn Address

0x000000000000000000000000000000000000dead
Any funds sent to this address is burned, in other words, deleted from the supply, this reduces sell pressure and increases the floor value of the asset. We like to call this address, The Dragon. This address grows into two ways, manual burns done by the developers and automated ones from the slippage fees. Due to the tokenomic structure of Wyvern 5% of all transactions made are sent to holders as a reward and because the burn address is technically a holder, it consumes some of these rewards creating a blackhole effect.

 

Developer Holdings Address

0x234fb76e81d7bc5148bd9ad5851914a09f155b7f
This address holds the funds of the developers, the only funds that can be sold from this address is the rewards given to it from the slippage system.

 

Market Account Holdings

0xb33944ecf88b34eef6746c447c3892f883a81ca4
This address is an allocated amount of supply used only for marketing, however, if there is any surplus given to it from the rewards system it is donated to the Liquidity Pool to help increase the floor value of Wyvern.

 

Liquidity Lock Reserve Address

0xeef751bba57e90b832c96b0e65ef5430868c69a7
When making a transaction on Wyvern, there is a 10% slippage fee. Half of that slippage fee is sent towards liquidity to increase the valuation of the asset and to grow and stabilize the price action.

 


Disclaimer

Risk Warning: Investing in digital financial assets involves a high degree of risk and volatility and is not suitable for all investors; do not risk more money than you can afford to lose. Please consult an independent professional financial or legal advisor to make sure the product is right for you.

Disclaimer: This article contains text, data, graphics, photographs, illustrations and information (“Information”) connected with Wyvern International and/or other entities part of the Wyvern group ( “Wyvern”). Wyvern attempts to ensure Information is accurate, however, Information is provided “AS IS” and on an “AS AVAILABLE” basis and may not be accurate or up to date. The publication of this article does not represent solicitation by Wyvern of buying the token “Wyvern Token” and is not to be considered as a recommendation by Wyvern as to the suitability of any investment, if any, herein described. No action should be taken or omitted to be taken in reliance upon Information in this document. Wyvern accepts no liability for the results of any action taken on the basis of the Information.

 


Wyvern Team

Kyle J. Chisamore: Token Developer & Graphic Design
Karan Pimpale: Website Developer & Marketing Strategist
Barret Menard: Marketing Consultant

 


BSC Onboarding Guide

To interact with Wyvern and other decentralized applications (DApps) on the Binance Smart Chain (BSC), you will first need to create a wallet compatible with the Smart Chain network. There are various ones to choose from, however, we personally recommend MetaMask for both desktop and mobile use for the best experience. Some of you may already be familiar with MetaMask, as it is the primary wallet used to interact with applications on the Ethereum network. In order to make MetaMask compatible with the BSC mainnet, you will need to add it as a custom network and can find step-by-step detailed instructions on how to do so below.

 


 

Install the Metamask Extension from the Store

Visit the Google Chrome browser extension marketplace (or App Store for mobile users) and download the MetaMask extension.

 

Create a MetaMask Wallet or Import One

I’d suggest creating a new one if you haven’t done so. Click import wallet if you have an existing wallet.
Setup your password and secret recovery phrase somewhere safe. If you lose these and can no longer access your account from the original device, you may be unable to recover your wallet and funds.

 

Setup MetaMask to connect to BSC Mainnet

Switch the connected blockchain by clicking on the tab saying Main Ethereum Network, we need to add the Binance Smart Chain network.

Scroll down until you find Custom RPC.

Enter in the BSC mainnet details as follows:

Click Save.

You have now connected to the BSC mainnet with your Metamask Wallet.

 

Using BSC and storing BEP-20 tokens

Congrats! You now have a BSC configured MetaMask wallet. You can now store your BEP-20 tokens and connect your MetaMask wallet to DApps on the Binance chain. Here’s how:

  1. Drop down networks and choose BSC Mainnet.
  2. (Optional) For your own convenience you can create a new wallet just for BSC. You can add and manage all BEP-20 tokens from this account.

By default you’ll only have BNB added to your account. To add a new token follow the steps below.

Note: You are on BSC network and you can only add BEP-20 tokens and not ERC-20.

To add a BEP-20 token click on add token >> choose custom token and then enter the token contract address.

You can find the full list of BEP-20 tokens and their contract details on https://bscscan.com/tokens

Now from your Binance exchange account you can withdraw coins and tokens as BEP-20 to your MetaMask wallet. It is important to differentiate the network destination address of the wallet where you intend on sending your coins, as there are 2 commonly used networks. For wallets using the Binance Chain, these should be sent as a BEP-2 token. On the other hand, wallets using the Binance Smart Chain (BSC) should have these sent as BEP-20 tokens. Sending through to the incorrect chain can potentially cause you to lose your funds.

Note: Since all these tokens are built on Binance smart chain you’ll need BNB to cover gas fees. It’s just like how you need ETH to transfer ERC-20 tokens. Instead of ETH you’ll have to use BNB as Gas fees. There are two places where I recommend getting Binance Coin (BNB) by exchanging other cryptocurrencies if you don’t already have some. They are directly through binance.com (non-US residents) or binance.us (for US residents) and simpleswap.io. SimpleSwap is not a centralized exchange and does not require any sign up or KYC. It also has a variety of different coin pairs, which makes it a great option to use.

Here you can find the current gas price and gas limit that is being used on BSC: https://bscscan.com/charts