Uniswap Provision

The WISE contract's constructor function, executed when deploying the WISE contract, will make a call to the Uniswap V2 factory contract in order to create the Uniswap WISE/ETH exchange pair contract. This newly created exchange contract's address will be stored internally in the WISE contract.

This newly created Uniswap WISE/ETH exchange pair contract will simply lie dormant until the Circulation Epoch begins and the Uniswap provision transfer is executed, using the stored address. No minted WISE exists until that point, so no liquidity can be added until then.

As part of sending the Uniswap provision WISE and ETH to the exchange pair contract, a UniswapV2Router contract is used, which internally wraps the ETH into WETH (wrapped ETH), as is standard in Uniswap V2.

The UniswapV2Router contract returns an amount of UNI-V2 liquidity tokens to the WISE contract as part of the Uniswap provision transaction. These UNI-V2 liquidity tokens represent ownership of the liquidity pool the WISE contract just sent in, and carry the sole power to withdraw that liquidity. The WISE contract has no code or function allowing such a liquidity withdrawal. However, as a further show of the Wise team's commitment to making WISE a totally trustless system, the WISE contract will automatically and irrevocably destroy these UNI-V2 liquidity tokens upon receipt. This is done by transferring them to a known “burn address”, such as 0x0.

Once the Uniswap provision is complete, users are free to use Uniswap's front end to swap WISE into ETH, and vice-versa. They may also choose to deposit their own liquidity pools of WISE/ETH in order to earn fees from traders.