Currently, there are 1500 crypto+ currencies/tokens issued and traded on crypto exchanges but only handful of them have use cases built for the real world. The market for the upcoming projects has become smarter and only the projects with solid use cases will earn trust vote from the future investors. Wono is one such scalable P2P platform, which is decentralized and will help in exchanging property and services to its users. It is building a transparent horizontally structured market, which will eliminate currency exchange fees, and will help in income resdistribution from middlemen to service providers/ asset owners.
Image Source: Wono Whitepaper
Sharing based economy has witnessed surge in user interest in recent years and is led by transportation, hospitality and finance sector. A PwC study has estimated that the shared economy will take up 50% of this market by 2025 and the number stands at whopping $335 billion. Home Exchange platforms, Ride Sharing Platforms have become quite popular in United States and other parts of the world. Airbnb, Uber, Homelink are few of the trustworthy names, which every consumer is aware of now a days and doesn’t miss a chance to give it a try when he/she is in search of required service given by these service providers. These sharing services has led to significant reduction in costs for the average middle income consumer, which otherwise were available only to select premium customers at very steep prices.
Wono has come up with a blockchain based solution, which will address the current problems of the monopolistic P2P economy I.e. lack of trust, high middlemen commissions. The drivers behind shared economy is technology, ecological problems, economic threats with fear of recession in future and the trust developed from the community interaction. The basis behind is asset rating system and community member reputations and thus, carries the potential for wider adoption disrupting the existing business models that have inefficiencies laden on them. This solution will result in trustless exchange with lowest transaction costs and is built on Ethereum blockchain and Interplanetary File System (IPFS).
Wono tokens will be the key for all transactions taking place on the ecosystem. Any tokens earned through sharing of asset or by providing service can be used on the platform in exchange of other services. This platform will also provide DAPP developers to implement their own business ideas using WONO’s protocol and WONO API. And for users, there will be a web application known as WONO client for accessing these services. The various roles taken up by users can be that of Vendor, Customer, Guarantor (through token staking) and Arbitrator (through voting). The different type of deals which can occur on this platform are direct, trusted and Back-to-back and are categorized on the basis of creation, finalization, signing and deal execution. The platform will also feature machine learning capabilities with unique features such as recommendation service, predictive analysis, automated scoring and data analysis through depersonalized reports.
Image Source: Wono Whitepaper
The Wono Pre-Sale is planned for Jun-2018 and final Public sale in Jul-2018. The Token sale soft cap is kept at USD $7 million, hard cap is fixed at USD $20 million. Total token supply is capped at 79.167 million tokens and currently 60% of the total supply I.e. 47.5 million tokens will be offered during the sale. Rest of the tokens are kept for team, advisors, bounty and company reserve. The tentative expenditure plan in different collection scenarios is detailed out in the Whitepaper. Bonus entitled during the investment stage will be paid in parts, with a 2-month gap in order to protect investor interest and to prevent dumping on exchanges at the time of project listing. The test network launch is planned for Q2 of 2019 and final launch on Ethereum network by Q3 2019 to onboard users and scale up the project.
Image Source: Wono Whitepaper
To conclude, WONO is a utility token and is ERC20 compliant. It is planned for use on all transactions in WONO ecosystem, for paying Asset rent or services, for paying platform fees, for Crowd deal Insurance, for Crowd deal arbitration etc. The project looks promising with capped supply, strong fundamentals catering to the market need, solid team and with proper details worked out to make it a grand success.
Further details on this promising project can be checked at the following links:
Official Website: https://wono.io/
Whitepaper: https://wono.io/assets/i18n/en/wp.pdf
Telegram: https://t.me/wonoworld
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This article was created in exchange for a potential token reward through Bounty0x, which may be granted on acceptance of this article.
** This should not be treated as explicit financial, trading or otherwise investment advice. Please do your own detailed research before final investing.**