What is WYZ?
WYZ is the primary utility coin for the WY chain network. WYZ is used for governance, ecommerce, sports betting and gaming platforms. WYZ is used for securing the network through staking.
What is WYZ used for ?
Securing the network
WYZ coin have a use case of securing the network through the Delegated Proof-of-Stake system. For participating, validator nodes need to hold minimum WYZ, bookkeepers need to lock up their WYZ. And in return of this process, both stakers and the nodes are rewarded with rewards and fees. WY chain prevents centralization, also the system is environmental friendly.
WYZ coin is best used for sending and receiving payments through the WY chain network’s fast finality, high-throughput and low fees.
On WY chain, assets transaction costs you even less than $0.01 and it takes nearly 1second for a transfer.
WYZ is required for on-chain governance. WY chain is completely leaderless and permissionless, decentralized ecosystem. Thus the decision regarding the network is purely democratic and carried out on-chain governance. WYZ is the governance coin vital to participate in the voting process. Stakers can vote for any changes or improvement required on network.
WYZ can be used for network fees, such as transaction fees and fees to locate smart contracts or to create new networks. ON WY chain the network fees very less, transactions are carried very cheaply. Keeping the network secure from any malicious intruder WY chain is best for the payments.
The WYZ supply
The total supply of WYZ is 50 Million and is currently circulating. There are more than 12000 holders off the WYZ coin. The total market cap is 5,582,382.45 USD. WYZ is currently available as native main net Coin on WY chain (wrc-20).