WICCA: We Invest in Crypto-Cost Averaging

WICCA combines the benefits of index tokens with dollar-cost averaging, making it the ideal choice for long-term investors who are looking to invest in the themed crypto market.

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Inspiration

The inspiration for WICCA came from the need to provide investors with an easy and secure way to invest in the crypto market without needing expertise in individual asset selection. We wanted to create an investment protocol that combined the power of index tokens with dollar-cost averaging to provide diversified exposure to a portfolio of cryptocurrencies.

What it does

WICCA is an investment protocol that allows investors to create index tokens using any diversified cryptocurrency portfolio and use Crypto-Cost Averaging (CCA) to invest wisely. Our platform includes unique security features of web3 automated actions and price oracles to protect investors from price manipulation and other security threats. WICCA automatically executes investments through web3-actions, and users do not need to sign the transaction every time. The protocol fee of 0.95% of the newly minted WITs is charged, which goes to the WICCA Treasury to fund future ecosystem projects.

How we built it

WICCA is built on the Fantom blockchain using Solidity smart contracts. We used common interface of swap protocol, for example SpookySwap. We also leveraged the power of automated web3-actions, such as Chainlink Automation, to ensure the platform's security and efficiency. Also, we used external Oracles to build the platform.

Challenges we ran into

One of the biggest challenges we ran into was ensuring the security of the platform, given the complexity of integrating various De-Fi protocols and external Oracles. To address this challenge, we are constantly exploring and implementing new security measures, such as incorporating multiple price sources to enhance the platform's security. Our upcoming plans include integrating various price sources like TWAP, Chainlink Price Oracles, our external Oracles, and swap price ratios. With these measures, we can provide our users with a more secure and reliable platform that they can trust.

Accomplishments that we're proud of

We're proud of creating a platform that provides investors with a flexible, convenient, and secure way to invest in the crypto market or theme. We have developed our web3 automated actions and price oracles prototypes, which serve as the backbone of our platform's security infrastructure. These features provide our investors with peace of mind and enable them to focus on their investment strategies.

What we learned

Building WICCA taught us a lot about the complexity of integrating various De-Fi protocols into a single platform. We also gained valuable knowledge and experience in verifying and publishing smart contracts on FTMscan through Hardhat. We are proud to have successfully completed it.

What's next for WICCA: We Invest in Crypto-Cost Averaging

Moving forward, we plan to continue improving the platform's performance, scalability, and security. We also plan to expand the range of cryptocurrencies available for investment and integrate with more De-Fi protocols. Finally, we plan to use the protocol fee collected by the WICCA Treasury to fund future ecosystem projects, ensuring that WICCA continues to innovate and provide cutting-edge investment opportunities.

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