World Mobile Token

What is World Mobile Token?

World Mobile Token (WMT) serves as the utility token fueling the sharing economy within World Mobile's global mobile network. All activities conducted on the network, such as calls, data usage, and wallet transactions, result in WMT payouts to node operators and token stakers. Transactions are initiated when individuals engage with the network, encompassing activities like calls, texts, streaming, internet browsing, and utilization of various value-added services such as content, finance, healthcare, insurance, micro-loans, and more. Thus, every instance of connecting a device to the World Mobile network involves the practical application of the token's utility. Leveraging the capabilities of Cardano, World Mobile Token harnesses the advantages of blockchain within a mobile network.

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Recent Video Interview

Main points of the interview:

• Zac Vann, Head of Token at World Mobile Token, shares his journey into crypto.
• Discusses the role of blockchain in telecommunications.
• Highlights World Mobile's mission to provide affordable connectivity and digital identity in developing countries.
• Emphasizes community collaboration and sustainability efforts.

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Use Cases

Users can utilize World Mobile Token (WMT) to pay for services via the World Mobile app, or opt for fiat currency in areas where cryptocurrency is not yet accepted. If a service is available in a crypto-friendly country, WMT is the preferred payment method; otherwise, local currency is used. World Mobile converts the local currency to WMT to cover network fees. Service costs are fixed in local currency, as determined by each country's regulator, ensuring consistent pricing whether paid in fiat or WMT. The time-stamped transaction equates the amount of WMT used for recharge to the fiat cost, preventing cost fluctuations tied to WMT's price. WMT extends beyond basic transactions, enabling payments for streaming, gaming, and e-commerce through the World Mobile app.

Moreover, WMT is employed by nodes for staking, akin to Cardano, to uphold consensus, ensuring network security and decentralization. World Mobile's collaboration with IOHK underscores its commitment to providing diverse financial services, including insurance, microloans, RealFi, and more to end-users. Each additional service on the World Mobile network generates transactions, fostering node operator incentives and contributing to future growth within the evolving sharing economy.

Staking

During the Staking Rewards Programme, users have the flexibility to stake any amount of tokens at their discretion. Token releases are triggered upon reaching specific thresholds, as outlined in the Vault. Stakers become eligible for rewards if they retain their tokens for a minimum period of 30 days. To qualify for rewards, participants must maintain a minimum balance equivalent to their staked amount at the snapshot.

Users opting to stake tokens from their wallet at the Token Generation Event (TGE) can do so without requiring additional proof. Upon reaching a threshold, a snapshot is taken of the addresses engaged in staking within the pool. After the 30-day period following the threshold release, addresses are verified to ensure continuous possession of the tokens for reward qualification.

What Makes The World Mobile Network Different?

World Mobile enables affordable and easy-to-deploy network nodes using off-the-shelf equipment. Business owners can purchase and set up local nodes, sharing rewards and promoting a sharing economy. Instructions and materials are provided in local languages. Node owners, once online, have access to comprehensive information for network monitoring and maintenance. Local ambassadors advocate for the sharing economy in unconnected areas.

World Mobile allows village savings groups and businesses in unconnected regions to purchase nodes and receive rewards. The company, being for-profit, ensures incentives for service providers and emphasizes long-term sustainability. World Mobile's approach integrates Wi-Fi hotspots, solar-powered nodes, and other components into a unified hybrid mobile network for mass adoption. The network is technology-agnostic, welcoming diverse node operators for an inclusive connectivity solution and business opportunity.

Partnerships

World Mobile collaborates closely with IOG, a leading blockchain technology firm and the developer of Cardano, sharing the goal of connecting the unconnected using cutting-edge decentralized technology. IOG owns 10% equity in World Mobile Group.

The technical partnership with Chainlink integrates their price feeds for accurate live pricing in mobile payments. Chainlink's Verifiable Randomness Function (VRF) is used for selecting Earth Nodes in network communications.

SundaeSwap offers token swaps, liquidity provision, and yield farming for $WMT holders.

MuesliSwap, a decentralized exchange on Cardano, provides reduced trading fees for users holding 250+ $WMT.

Collaborating with VyFinance, World Mobile facilitates safe and easy engagement in DeFi for network users interested in maximizing their benefits.

Project Development

In a dynamic month, WMTScan saw a significant increase in AirNode installations, surpassing 1000 units with over 500 deployed in Zanzibar and additional installations in Pakistan. By month-end, the total count reached 1149, marking a noteworthy milestone.

WMT strategically expanded its reach on BNBCHAIN through a partnership with Friend3AI, a prominent social decentralized application. This collaboration with Friend3AI enhances WMT's presence in the Friend3 ecosystem, providing broader accessibility and donation opportunities.

In another impactful move, WMT joined forces with X Project, integrating an innovative AI chatbot into all official World Mobile Telegram channels. This partnership utilizes advanced machine learning to efficiently address community queries, further enhancing WMT's capabilities.