Word Token is partnering with Ethbox to secure cryptocurrency operations for its users, and further developments to be agreed upon between both developing teams.
Ehtbox’s mission is to help remove friction in digital assets transfers, especially those that have to do with wrong wallet addresses.
Word Token has been securing meaningful strategic partnerships very quickly along with the project’s brief life.
The World Token platform is one of the most ambitious and long-reaching new platforms in the DeFi industry. It aims to provide several services to its users, including means of payment and decentralized exchanges.
Every user in the network gets continual rewards for just being in the system as every new block in the chain is calculated. The rewards come from a 3% tax that occurs in every transaction.
Ethbox, on the other hand, provides a much-needed solution for a problem in the cryptoverse that is as devastating as it’s frequent: mistypes. Too many transactions in the crytpoverse are plagued by the mistyping of the recipient’s address or by the wrong wallet address.
If you can’t understand how that could be a problem in a trade that is 100% digital, you are not alone, but the fact is that such things happen, and they have caused millions (and very probably, billions) of financial damage to both of the parties involved in such botched operations. Ethbox is in the business of harnessing Etereum’s bulletproof safety to provide a smart contract-based escrow service so that the risk of loss in this kind of transaction is lessened dramatically.
With the new partnership, World Token members will have access to Ethbox’s risk alleviation.
But that is the beginning only as the leadership and developing teams of both projects will join forces to explore how their combined talents can bring further benefit to the users of both projects. Also, both networks will leverage each other’s connections as they expand together into the outer crypto-space.
World Token is a novel project that’s already shown a knack for meaningful strategic partnerships. It secured another one with SPI not so long ago, which will give its users a 2% discount when paying with SPI’s clients (which includes Amazon and AliExpress among many other giants). Either of those two things would be a valid use case for World Token in its own right, let alone both together.