Project Review: World Mobile Token

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Overview

Name: World Mobile Review

Token ticker: WMT

Website: https://worldmobiletoken.com/

Hard Cap: USD 40,000,000

Whitelist: /

KYC: YES

Jurisdiction: 

Token Type: Cardano Native Token

Country Restrictions: USA, China, British Virgin Islands, Iran, Iraq, Sudan, Myanmar, N Korea, Somalia, Syria, Venezuela, Zimbabwe.

Sale Date: To be defined

Token Distribution: (29%) Node Operator; (19.25%) Co-Founders & Team; (7.85%) Partnerships; (2.5%) Private Sale ; (2.5%) Early staking rewards; (18%) Operation fund; (10%) Public Sale; (5.9%) Advisors; (2%) Community fund; (3%) Incentive rewards

Company purpose and problem solving ideas

More than half the world’s population remains unconnected, leading to poor healthcare, poor education and poverty. World Mobile Token mission is to build the world’s largest mobile network, delivering universal, affordable, high-quality connectivity throughout Africa and beyond by 2030.

The World Mobile Token (WMT) is a digital token that is issued with the purpose of allowing the participants to provide a service on the network and be rewarded accordingly for it. The primary role of WMT is to incentivise both token holders that want to support the operation of the network by way of delegating their WMT stake to a node operator (stakers) as well as node operators that operate their own node.

The WMT project combines existing technologies to provide both broadband connectivity and cellular coverage, bridging to legacy networks. With a decentralized network, you can scale, share infrastructure, have security, transparency, and self-sovereignty. This could significantly reduce the costs and practical barriers for people to access financial services, connectivity, and education.

Upon its release in Africa, World Mobile Chain will serve as a showcase for the next-generation of RealFi applications and in turn, become the foundation for telecommunications, financial inclusion, and sharing economies. With RealFi, one can scale network infrastructure for mass-market FinTech and Open Finance applications. It therefore requires low-cost, portable identity solutions and a high-performance blockchain capable of generating value for transactions at a reasonable price. 

Highlights

  • The project is built on the CARDANO blockchain, a top 10 decentralised network supported by one of the leading technology firms in the sector.
  • World Mobile sees an enormous opportunity in the $54B African telecom market. As part of their efforts to connect the unconnected, they hope to gain at least 10% market share by 2030.
  • In addition to selling network access, World Mobile can generate revenue from Fintech offerings including portable identity, banking, marketplaces, healthcare, and micro-grids.

Token Usage

  • The World Mobile Chain draws its circular economic incentives from WMT. In addition to telecommunications processing, World Mobile Chain handles all other transactions on the network.
  • The World Mobile Chain transaction platform will be integrated with Cardano’s mainnet, allowing node operators to decide whether to participate based on the network’s scale and revenue margin, above Cardano’s network fees.
  • Additionally, all node operators and stakeholders will receive WMT payment for inflation. Inflation is decelerating in the network early on, ensuring more rewarding rewards until year twenty when there is no inflation. As the network matures, node operators are rewarded based on their performance, ensuring a balance between risk and reward.

Token Distribution

  • (29%) Node Operator
  • (19.25%) Co-Founders & Team – 18 and 12 months lock up, Token unlock linearly over 24 months
  • (7.85%) Partnerships – Allocated at the time of partnerships
  • (2.5%) Private Sale – 9 months lock up
  • (2.5%) Early staking rewards
  • (18%) WM Operation fund – 24 months lock up, 48 Months linear unlock
  • (10%) Public Sale – No Linear unlock
  • (5.9%) Advisors – 12 months lock up – 24 months linear unlock
  • (2%) Community fund
  • (3%) Incentive rewards

Total supply: 2B WMT

Notable partnerships

  • Built on Cardano: The project is built on Cardano, one of the 10 decentralised networks. Researchers and engineers developed Cardano for its innovative approach to scaling and securing blockchain networks. Cardano is a non-profit platform and its maintenance and development is handled by three separate organizations. Developed from a scientific philosophy, the Carado blockchain platform offers features that are more advanced than any previous blockchain platform. The Cardano project has focused on attaining superior performance and developing tools so that the network can scale real world Fintech applications.

 

  • Working with IOHK: Founded in 2015 by Charles Hoskinson and Jeremy Wood, IOHK is one of the world’s pre-eminent blockchain infrastructure research and engineering companies. It is an organisation dedicated to academic rigor and evidence-based software development with a decentralised remote working model. The company builds high-assurance blockchain infrastructure solutions for public, private sector and government clients. It is also the driving force behind the decentralised and smart contract platform, Cardano.

Advantages

  • Experienced Team: With over 10 years of experience in the telecommunications industry, the core team has built a series of telecommunications businesses. Among their skill sets, they have expertise in renewable energy as well as business and technical telecom expertise, as well as experience on the ground in Africa. World Mobile has an established track record for delivering connectivity to hundreds of villages each month in difficult conditions.
  • A noble project: Bringing connectivity to Africa is a pre-requisite to increase standards of living in several countries, including rural areas, across the African continent. However legacy infrastructure is too expensive to reach rural areas (1km of fiber optic cable costs 30.000 USD)  and existing business models are outdated (Africa would need 500.000 Km of fiber optic cables to achieve full-connectivity.

Potential Drawbacks

  • TGE is not yet announced: Pre-registration is open since April 29, but no nes yet has been released regarding the TGE. This is likely to change soon.

 

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