The first WORLD tax reward distribution from Bitmart took place earlier this week, and anyone holding WORLD tokens was eligible to receive the reward. Holders in metamask and other ERC-20 wallets on the other hand will continue to receive their rewards from Uniswap volume instantly.
The DeFi (decentralized finance) sector of the crypto industry has been around for ages, although it has been fragmented, with little money going to it, and it consisted of only a handful of projects. However, things changed in 2020, when people finally started developing an interest in it. Since then, DeFi blew up, attracting billions upon billions of dollars to its TVL (Total Value Locked) simply because crypto enthusiasts realized that they can earn money through means other than trading.
With crypto prices recovering last year following the crash caused by the coronavirus pandemic, traders and investors were highly optimistic about their coins, and they didn’t want to risk it in trades that may have only brought small amounts of money. Instead, they learned of a possibility of earning rewards by making their tokens available to others, be they other traders or other projects.
This level of maturity in regards to how people treated their crypto led to the explosion of use cases such as staking, lending, yield farming, liquidity mining, and more. This, in turn, attracted developers who created more projects that offer such opportunities, and World Token is one that has great amount of potential for the future of earning through these methods.
What is World Token?
World is a unique platform that combines many of the best tokenomics of current frictionless yield protocols in a way that allows for instant rewards. Furthermore, it offers additional benefits of staking in its upcoming marketplace.
The project offers a 3% transaction tax to holders, stakers, perpetual marketing and development fund, and in time, it will also be available for merchants, too. Its system guarantees token rewards to LP stakers on every single block, regardless if there were WORLD transactions on it or not. And, since it offers rewards in percentages, the rewards will continue to grow alongside the project itself.
It even has the potential to go outside of the DeFi sector, by expanding to other platforms after launch.
It is also worth noting that the World Token recently partnered with SPI, which will accept it as a payment method on its platform, with an extra 2% discount, thus giving it yet another use case. Furthermore, these purchases will also feed the rewards system in the project’s own ecosystem. In fact, the strategic partnership will allow WORLD token to be used on the platform that is connected to eCommerce giants, such as Walmart, Amazon, eBay, and even AliExpress, which is scheduled to be included shortly.
What is Next for World Token?
There are other plans for the future, such as putting up a P2P exchange, which will allow traders to obtain ERC-20 tokens, with WORLD being the first one, and others arriving later on. This will mean a significantly simpler method of getting ERC-20 tokens, and it will enable a variety of new payment methods that are currently not available, including local ones, where users will be able to pay one another outside of the platform, and then use the exchange to deliver coins to one another.
Naturally, the exchange will have a live chat function for sellers and buyers, and a full escrow on tokens on the website. The goal here is to make it easier for newcomers to get into DeFi as they ‘learn the ropes’ of the DeFi sector, and crypto industry as a whole. The key idea is to bring security and convenience side by side, which is not always so easy to do.
According to World Token’s March 28th announcement, the project’s testnet is officially live, and it allows users to get a glimpse of the WORLD marketplace. That includes games, books, NFTs, music, and much more.
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Company: World Token
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