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Wry is Wrapped Ycash#

Introducing Wry#

Wry is a wrapped Ycash token for smart contract platforms like Ethereum and Binance Smart Chain. The ticker symbol for Wry is WRY. The ticker symbol for Ycash is YEC.

Each WRY coin represents a YEC coin that has been taken out of circulation by the Ycash Foundation. "Out of circulation" means that the coin cannot be used for any purpose. The Ycash Foundation promises that the total number of YEC in circulation plus the total number of WRY in circulation will never exceed the amount of YEC previously mined on the Ycash blockchain. As such, the value of 1 WRY is meant to equal the value of 1 YEC. Regardless of whether the free market values WRY and YEC equally, the Ycash Foundation will always treat their values as being equal.

The Ycash Foundation will provide the necessary information (for example viewing keys) to allow for the number of coins taken out of circulation to be indepedently verified by anyone in the world. That information will be published on this page.

The Wry Token#

Wry is an ERC-20 token. The Wry contract has been deployed on Binance Smart Chain (BSC) here:

https://bscscan.com/token/0x4f0c54c06bc401d02df557fd65ee30f622155cf6

and has been deployed on Ethereum here:

https://etherscan.io/token/0x1dff69d892d7a503088522b830eadcba9867f6bd

To minimize risk, the thoroughly-audited standard OpenZeppelin ERC-20 contract was used with almost no modification.

At deployment, the Wry contract mints 21 million WRY and sends them to an address designated by the Ycash Foundation as out of circulation. By design, the contract does not allow further coins to be minted and does not allow any coins to be burned. Also by design: The Wry contract does not follow the "updatable contract" pattern and is thus immutable. No one, not even the Ycash Foundation, can ever change the deployed Wry contract. Because of these design decisions, Wry is extremely gas-efficient, with transfers to addresses with a Wry balance of zero using only 51,337 gas and transfers to addresses with a non-zero Wry balance using only 36,337 gas.

Currently, there are three WRY liquidity pools on PancakeSwap: WRY/BUSD, WRY/BNB, and WRY/CAKE.

Search for the address of the Wry contract deployed on BSC:

0x4f0c54c06bc401d02df557fd65ee30f622155cf6

Exchange Swaps#

You can swap between YEC and WRY on SouthXchange:

https://main.southxchange.com/Market/Book/WRY/YEC

The Wry Pipe#

The Ycash Foundation maintains a permissionless, flow-restricted pipe for users to move between YEC and WRY on a limited basis. Use of the pipe currently requires a wallet that can perform shielded transactions, like YecLite (recommended) or YecWallet.

Important Note: Currently, the pipe only support moving from YEC to WRY-on-BSC and from WRY-on-BSC to YEC. Ethereum support will be added in advance of the launch of Uniswap 3 on Optimism, slated for the summer 2021. (Optimism is a Layer 2 Ethereum solution.).

Cap of $1,000 on Aggregate Flow During Last 24 Hours#

Pursuant to the Ycash Foundation's interpretation of relevant United States laws, the aggregate flow through the pipe within a 24 hour period cannot exceed $1,000. Note that this is not a per-user cap; rather, it is a cap on aggregate use. For example, if one user sends $1,000 worth of coins into the pipe, then the pipe cannot be used by any other user for the next 24 hours.

Because of this cap, your ability to use this permissionless pipe to move from WRY back to YEC may be significantly constrained, especially if the price of YEC goes up. The Ycash Foundation is actively exploring other mechanisms for moving between WRY and YEC, including WRY/YEC exchange pairs and atomic swaps.

Large holders of YEC interested in establishing a separate, dedicated (single user) pipe should contact the Ycash Foundation. Such a dedicated pipe would still have a $1,000 24-hour limit, but the pipe would be for the exclusive use of one user.

Fees#

Fees apply and are subject to change. Before sending YEC or WRY into the pipe, please check this page for the fees currently in effect.

Current Fees:

  • YEC/Wry-on-BSC Sign-up Fee: 1 YEC
  • YEC to WRY-on-BSC: free (planned 1% fee waived as a promotion)
  • WRY-on-BSC to YEC: 1% paid in YEC, minimum fee of 1 YEC

Instructions For Signing Up#

In order to use the pipe to move between YEC and WRY-on-BSC, there is a one-time sign-up fee of 1 YEC. (Moving between YEC and WRY-on-ETH will require a separate, one-time sign-up fee).

  1. Send exactly 1 YEC to:

    ys1kpp93lx90u6fy5uge6gwshedude8dyrw45h9zh727wlg5dp4xau7llkcgr3qj2udnjejks6c9nh

    and in the memo put your shielded YEC address (beginning with "ys") followed by your BSC address. The addresses should be separated by whitespace. The YEC address must begin with "ys" and should come first.

    Example memo:

    ys1z37kemxfj3qmzr7w9yt29jku7wu3hectwm8smfsycm0ksp7ejnpqcagqql2m8fct5kky6knqa6z 0xc41c50a5cd30685fe4f88bd9754f5b7d34fc57d4
  2. You will receive a response that looks something like this:

    YEC IN: ys1nqf57lusg0w4nyu7rthyw3292fv3qkw2ndn466j2jne444hzdqczr56lhgtnqazlgd9yyxt7xfd
    WRY OUT: 0x03b4BCbFF737D3B85eaDD53598192Af6A7e3CB45
    WRY IN: 0xfc2e1bc9887d785c5e059878c6b0873532c7bb01
    YEC OUT: ys16puwyfcu4qtgcn8dpfcqh2307psagm89mc7fgy2p0g6lf48wjck4upmpdv0dwggnruw4gawwsur

    The YEC IN and WRY IN addresses are dedicated to you.

  3. Double check that the WRY OUT and YEC OUT addresses match the addresses that you specified.. If they don't match, then the message is a phishing attempt and should be ignored. For increased safety, use a fresh Ycash shielded address that no one knows.

  4. If a problem arises, send a memo to your YEC IN address. DO NOT SHARE YOUR YEC IN ADDRESS WITH ANYONE. We will assume that any memo sent to your YEC IN address is coming from you.

Converting Between YEC and WRY-on-BSC#

  1. Check the current available capacity of the pipe here:

    https://stats.ycash.xyz/wry/pipe_info

    You'll see a JSON object that looks something like this:

    {
    "available_usd_capacity": 993.3382250445022,
    "coin_price": 0.137301,
    "available_coin_capacity": 7234.7486547403305,
    "block_height": 907178
    }

    Important note: The JSON output above is only an example. To get the current statistics, please click on the link provided above.

    The available_coin_capacity is the maximum number of coins you can send to your YEC IN or WRY IN address given the pipe's 24-hour threshold of $1,000.

  2. Send between 50 to available_coin_capacity coins to your YEC IN or WRY IN address. Do not send less than 50 coins; if you do, your YEC will be treated as a donation to fund the operation of the pipe. Do not send more than the number of coins specified by available coin capacity; if you do, you're coins will be held until there is time to manually process a refund to you.

  3. Wait 4 confirmations on the Ycash blockchain or BSC blochain.

  4. After 4 confirmations, your coins will be sent to your YEC OUT or WRY OUT address (minus any fees). (Each time before using the pipe, check this page for the current fees in effect.)

  5. Enjoy using Wry!

Mine Wry#

The Ycash Foundation has partnered with daPool Mining Pool to give Ycash miners the option to be paid out in WRY instead of YEC. See the announcement for instructions.