[ANN][DeFi] WrappedNengcoin (WNENG) Launched

[honglu69]

WrappedNengcoin (WNENG) Launched - WNENG/NENG Swapping at southXchange

WNENG stands for Wrapped Nengcoin and is simply a BEP-20 token that represents Nengcoin. One WNENG equals one NENG. NENG can be converted into WNENG and vice-versa. Key benefit of WNENG is its integration into the world of smart contracts, DeFi, Yield Farming as well as DEX swapping.

Wrapped Nengcoin [WNENG] is a token based on Binance Smart Chain. WNENG can be traded at SouthXchange and pancakeswap.

• Name: WrappedNengcoin
• Symbol: WNENG
• 1:1 backing with Nengcoin (NENG). Custodian is southXchange
• Total token supply: 740 million WNENG
• Maximum token supply: 740 million WNENG

BSC Token Contract
BSC contract address: 0xaD2c0B5ee5424C6b6f9C06E4fEF3FD7CD9FF0264

In metamask,  Add Token with this contract address, the token holdings you own should show up.

Github

WNENG contract source code is verified on BscScan.  An exact copy is at:
https://github.com/ShorelineCrypto/WrappedNengcoin

Block Explorer

BSC scan
https://bscscan.com/address/0xaD2c0B5ee5424C6b6f9C06E4fEF3FD7CD9FF0264

Exchange

SouthXchange
https://main.southxchange.com/Market/Book/WNENG/NENG

Pancakeswap
https://pancakeswap.finance/swap?outputCurrency=0xad2c0b5ee5424c6b6f9c06e4fef3fd7cd9ff0264

Copy and paste contract address in currency search if WNENG token is not in the menu in pancakeswap.

Yield Earning

A liquidity pool (LP) is setup already for earning yield on WNENG and for facilitating pancakeswap trading on WNENG/BNB pair.

Pancakeswap
https://pancakeswap.finance/liquidity

If you want to join liquidity pool for earning yield, you will need to add both BNB and WNENG together into the pancakeswap liquidity pool.   To find WNENG in Pancakeswap and in Metamask, make sure copy and paste the contract address into either of them if necessary to find the  LP and token.

PancakeSwap Pool Activities

https://pancakeswap.info/token/0xad2c0b5ee5424c6b6f9c06e4fef3fd7cd9ff0264


WNENG/BNB PancakeSwap Price Chart

poocoin.app
https://poocoin.app/tokens/0xad2c0b5ee5424c6b6f9c06e4fef3fd7cd9ff0264

Coingecko
https://www.geckoterminal.com/bsc/pools/0xac5b6f144d1bf75e77b2d85041274e36b54df49a?utm_source=coingecko&utm_medium=referral&utm_campaign=searchresults

Coinpaprika
https://coinpaprika.com/coin/wneng-wrapped-nengcoin/

Important Nengcoin Community Links
Web
https://nengcoin.org/

Nengcoin bitcointalk Ann
https://bitcointalk.org/index.php?topic=5027091.0

Reddit
https://www.reddit.com/r/nengcoin/

Discord
https://discord.gg/UPeBwgs
Latest News
Aug 1, 2021 - WrappedNengcoin (WNENG) Launch Proposed
https://bitcointalk.org/index.php?topic=5027091.msg57597666#msg57597666

[honglu69]

This thread will be the main thread for all the WNENG related development.

The Nengcoin (NENG) thread is here:
https://bitcointalk.org/index.php?topic=5027091.0

[honglu69]

WNENG/NENG Swapping Live at SouthXchange


WNENG/NENG can be swapped live at SouthXchange:

https://main.southxchange.com/Market/Book/WNENG/NENG

[honglu69]

WNENG/NENG Swapping at SouthXchange - Proof of Reserve
WrappedNengcoin (WNENG) Proof of Reserve

WNENG/NENG can be swapped with each other at SouthXchange with SouthXchange as custodian.

Math at SouthXchange custodian wallet on 1:1 backing

Total WNENG issued: 740 million WNENG, 1:1 backing on NENG pre-mine dev fund.

Pre-launch WNENG used for pancakeswap liquidity pool: 55.763473 million WNENG
Extra NENG deposit into custodian wallet for the pre-launch usage: 55.763473 million NENG
Pre-launch WNENG used for southXchange testing purpose: 10,000 WNENG

Custodian Wallet Total balance at launch:
684.226527 million WNENG
795.763473 million NENG



Initial launch proof of reserve on 1:1 peg screen shot.

https://www.reddit.com/r/nengcoin/comments/ozz65d/wnengneng_swapping_at_southxchange_proof_of/

[Twinkledoe]

What is so special with Nengcoin why you created wrapped coin for this? I thought only popular coins like BTC have wrapped type coin. Also, I haven't seen Nengcoin listed in coingecko or cmc, so is this available for trading only at SouthXchange? What will be the benefits of those who will swap their NENG to WNENG?

[honglu69]

What is so special with Nengcoin why you created wrapped coin for this? I thought only popular coins like BTC have wrapped type coin. Also, I haven't seen Nengcoin listed in coingecko or cmc, so is this available for trading only at SouthXchange? What will be the benefits of those who will swap their NENG to WNENG?

Yes, you can checkout Nengcoin bitcointalk ann to find link to trade NENG at southxchange and shorelinecrypto.

Nengcoin (formerly NewEnglandcoin) just got listed in SouthXchange recently and along with WNENG.  Nengcoin itself almost has been around for three years.  The specialty of Nengcoin other than it started as regional coin in USA:

(1) technology,  Nengcoin started as ASIC mining coin on scrypt (a litecoin clone) three years ago. Now it is changed to multi-rig scrypt coin with mining heavily by USB ASIC miners and CPU and android phone miners.  It is first coin that developed mobile mining technology that offers profitable and reasonable proof-of-work mining for android phones. It is good choice for mining on a cheap USB ASIC rigs like futurebit moonlander2 too. 
(2) mobile decentralization movement along with Cheetahcoin for average people across globe who only have android phones, who can not afford big ASIC rigs (machine cost or electricity cost) who can dual mine Nengcoin & Cheetahcoin in the same phone (same PC too) profitably. 
(3) price appreciation potential, great for investors and hodlers.
Nengcoin price on USD rise was close on par with dogecoin, which is best coin in the market so far recently.  In 2020 one year, Nengcoin price rise on USD was actually higher than dogecoin.

So the WNENG WrappedNengcoin is just another extension to Nengcoin eco-system to allow NENG investors and fans to have another entry into DeFi world.   NENG + WNENG you have everything at home at low cost,  script ASIC mining, USB ASIC mining,  PC CPU mining, android mining, DeFi,  liquidity pool farmining,  dex swapping.  Have fun and welcome to Nengsters communities

[honglu69]

What will be the benefits of those who will swap their NENG to WNENG?

What is benefit to swap into WNENG from NENG at southXchange?

The main benefit is that if a NENG investor/trader want to do defi, meaning liquidity pool farming,  or you want trade NENG around with Metamask for whatever reasons, convenient reasons etc.

Sometimes, you may just want to trade. For example,  selling NENG from your mining operations,  sell NENG -> WNENG -> pancakeswap into BNB, maybe the price at pancakeswap is better, or whatever, reasons.

DeFi,  trading price (buy or sell),  liquidity farming on BSC etc. It could be all the reasons to do the swap. It is choice there.

However, I do want to point out, if someone just want to HODL NENG, withdraw NENG from exchange into private wallet owning private key,  NENG is the right choice, not WNENG. So each has its usage and purpose.

[Fujiati]

Are you have the plan to expand that Wneng community, to increase Wneng token holder? I see it so quiet at the moment, only 10 holders shown at https://bscscan.com/token/0xaD2c0B5ee5424C6b6f9C06E4fEF3FD7CD9FF0264
I think run a campaign or an airdrop will be the best way to do that, so effective.

[honglu69]

Are you have the plan to expand that Wneng community, to increase Wneng token holder? I see it so quiet at the moment, only 10 holders shown at https://bscscan.com/token/0xaD2c0B5ee5424C6b6f9C06E4fEF3FD7CD9FF0264
I think run a campaign or an airdrop will be the best way to do that, so effective.

Not really into that.  This is wrapped token 1:1 backing from Nengcoin (NENG).  There is no airdrop or campaign possible on this WNENG.  WNENG for now is just an extension of NENG eco-system. 

[honglu69]

NENG or WNENG faucets is running at:
https://main.southxchange.com/Balance/Faucet

go and grab some small number of coins for free there.

[honglu69]

Both NENG and WNENG are Listed at Coinpaprika

NENG and WNENG both are listed and tracked at Coinparika. Here is web URL:
https://coinpaprika.com/coin/neng-nengcoin/
https://coinpaprika.com/coin/wneng-wrapped-nengcoin/

Coinpaprika has mobile app too at google store ( I think apple store too), the name is "COINS"  in google app. Confirm here that I can track NENG and WNENG in COINS app in my android phone.

Just noticed that Coinpaprika track WNENG  at pancakeswap too. So  for WNENG, both trading price at  southXchange and pancakeswap are tracked.

[honglu69]

Both NENG/WNENG are Listed and Tracked at Nomics
Nomics is another popular quote/chart site. Both NENG and WNENG are listed:

NENG
https://nomics.com/assets/neng-nengcoin

WNENG
https://nomics.com/assets/wneng-wrappednengcoin

[kaborfoc]

Nengcoin uses a proof-of-work algorithm with enhanced features to protect against 51% attack. What are those enhanced features?

[honglu69]

Nengcoin uses a proof-of-work algorithm with enhanced features to protect against 51% attack. What are those enhanced features?

This is mainly a Nengcoin question, not wrapped nengcoin issue. Checkout my answer on Nengcoin thread:
https://bitcointalk.org/index.php?topic=5027091.msg57853296#msg57853296

[honglu69]

Nengcoin Mining Video Bounty
This is community bounty mainly for Nengcoin. But section of android phone dual mining is both Nengcoin and Cheetahcoin award. Details:
https://www.reddit.com/r/nengcoin/comments/pjmzb3/nengcoin_mining_bounty_is_open/

[honglu69]

Just a note here,  both WNENG and NENG are now back online for trading at SouthXchange.  

WNENG Wrapped Nengcoin  liquidity pool at PancakeSwap is back to decent liquidity of $300 USD worth.   The trouble of 51% attack on Nengcoin (NENG) is over.

See the announcements on this issue on Nengcoin (NENG) bitcointalk Ann page here or in reddit.

[honglu69]

Be careful on trading WNENG
be careful on trading WNENG, Wrapped Nengcoin. Converting WNENG to NENG is usually fine at SXC, 1:1 pegged. However, buying WNNEG is tricky due to the supply shortage at SXC. The price at pancakeswap is decent, close to NENG/DOGE, but make sure check before hand, know what you are doing trading WNENG.

[honglu69]

Just got response from SouthXchange support in discord,  all NENG Nengcoin  trading deposit/withdraw are back to normal. withdraw was just allowed on NENG today, confirmed by me.

WNENG Wrapped Nengcoin is normal on trading/withdraw/deposit too.

[honglu69]

Price chart URL from Coinpaprika and Nomics are added into ann article.

[honglu69]

Nomics link is removed.  Nomics web site has been shut down a while ago.

Coingecko now has good tracking on WNENG chart  and url is added.