Tokenomics
The Tokenomics section provides a comprehensive overview of the token economics and mechanics behind the Wion Crypto.
Last updated
The Tokenomics section provides a comprehensive overview of the token economics and mechanics behind the Wion Crypto.
Last updated
Wion Crypto introduces its native token, $WCM, as a dynamic asset within the Binance Smart Chain (BEP-20) ecosystem. As a BEP-20 token, $WCM facilitates transactions, serves as a store of value, and influences governance decisions.
The $WCM token has a capped maximum supply of 999,999,710 tokens, gradually released over time. The initial token distribution is structured as follows:
50% allocated to the community, fostering inclusivity for users, developers, and ecosystem contributors.
20% reserved for the founding team and advisors.
15% earmarked for ecosystem development, covering aspects like marketing, partnerships, and infrastructure.
10% allocated to the Wion Crypto Foundation, a non-profit organization supporting ecosystem development.
5% designated for early investors and strategic partners.
$WCM boasts a range of utilities within the Wion Crypto metaverse, enhancing its significance:
Payment: Users leverage $WCM for transactions within the virtual realm, creating economic incentives for token acquisition and use.
Governance: $WCM serves as a governance tool, enabling holders to vote on pivotal decisions, including network upgrades and policy implementations.
Staking: Token holders can stake $WCM to earn rewards and actively participate in the network's consensus mechanism, fostering support for the ecosystem.
Access: Exclusive features and services become accessible only to users holding a specific quantity of $WCM, driving demand and elevating its value.
Implemented on the Binance Smart Chain using BEP-20 standards, the $WCM token operates with features like transfer, approval, and allowance mechanisms. The token's smart contract undergoes rigorous auditing, ensuring security and resilience against potential attacks or vulnerabilities.
In the Wion Crypto network, token holders stake their $WCM to become validators, engaging in the consensus algorithm to secure the network. Validators stake a minimum amount, with higher stakes enhancing the likelihood of being selected as a block producer. Staking also acts as a defense against Sybil attacks and encourages holders to act in the network's best interest.
Validators producing blocks in the consensus algorithm are eligible for staking rewards. The distribution is proportional to the staked amount, fostering a greater share of rewards for higher stakes. The reward rate is influenced by the network's inflation rate and remains subject to governance decisions.
Transaction fees, denominated in $WCM, compensate validators for processing transactions and securing the network. These fees align with transaction complexity and size, incentivizing users to optimize transaction efficiency. Network fees cover additional services like data storage and computation, further compensating validators for their contributions.
Holders of $WCM actively participate in network governance, proposing and voting on upgrades and enhancements. The decentralized governance structure ensures equal decision-making rights for each token holder, fostering a democratic and inclusive ecosystem.
In leveraging the Binance Smart Chain, Wion Crypto aims to establish a secure, scalable, and decentralized metaverse, driven by the transparent and auditable principles embedded in its $WCM tokenomics and network dynamics.
