Update from WAWLLET November 19, 2018Dear community members,
As we are close to launch WAWLLET, before the initial scheduled date (mid 2019), we have decided to take some actions regarding the business structure, community, rewards and marketing as following:
1. Due to token issuance session, we have minted 56,642,698 WCOIN. According to the whitepaper and public announcements, 45,000,000 WCOIN were reserved by VCs, with a no-trading period of at least 6 month. We have decided to call the put option and we have redeemed 35,000,000 WCOIN. Therefore, 35,000,000 WCOIN are now at our disposal. We have decided to permanently burn the entire above mentioned amount, by sending all 35,000,000 WCOIN to the contract address 0x899338b84d25ac505a332adce7402d697d947494, an address which holds its own private key, therefore, no one could ever access it and the tokens will be permanently burned.
For more details you may access the audit made by IOSIRO here:
https://www.iosiro.com/audits/win-token-smart-contract-audit The burning action will take place on or before 15th of January 2019.
2. After the above mentioned burning action, 21,642,698 WCOIN will remain on the market according to the following structure:
a. About 5,000,000 WCOIN kept by the team
b. About 6,600,000 WCOIN spread among the public
c. 10,000,000 WCOIN reserved for VC call option
3. Within 6 month from launching WAWLLET BRONZE VERSION, WCOIN could be settled for WAWLLET services according to the WCOIN settlement mechanism described in the whitepaper and here:
https://www.youtube.com/watch?v=8BQ4S9BmHoQ4. As the community was always supporting the project we have decided to offer it up to 5% from the company shares under the following terms:
a. Minimum equity purchasing – 1%
b. 1% Equity against 1,000,000 WCOIN + 50,000 EUR
c. The applicants must submit an intention letter on or before 15th of January 2019
d. The applicants shall pass a full KYC process and will be subjected to the board approval.
e. After the board approval, the full transaction details shall be disclosed to the potential partner.
f. The deadline for the final transaction – equity against payment – shall be 15th of February 2019
g. All the WCOIN received for the share acquiring transactions will be permanently burned.
For more information, please submit an email to
[email protected].