What is Walton token? Info and news

 


WTC is the ERC20 token of Walton.

Waltonchain is an open source underlying business ecological public chain. As the leader of blockchain IoT, Waltonchain uniquely combines blockchain technology with RFID IoT technology, adhering to the concept of serving the real economy with blockchain technology, and helping industrial transformation and upgrading.

As the underlying application public chain, Waltonchain combines the software-level features of blockchain with decentralization and non-tampering, and self-developed RFID chip hardware to provide traceability, authentication solutions, and design industry data for all walks of life. Encrypted and distributed storage database building services.

Waltonchain aims to create a new generation of business ecosystem that is fair, transparent, traceable, authentic and credible. According to the expansion, Waltonchain is based on blockchain technology, relies on equipment, takes the network as a link, takes value as the context, and takes data as the core to build a value IoT ecosystem of "Internet of Things blockchain" . And create a series of business application scenarios, including food traceability, luxury goods identification, product value combination, seafood transportation tracking, logistics tracking, etc., with rich application scenarios and diversified business models.

First of all, let’s take a look at the ecological development process of Waltonchain:

1. With the launch and open source of the full-featured mainnet of Waltonchain, Waltonchain has achieved cross-chain data endorsement and has started token switching.

2. A variety of hardware products independently developed by Waltonchain have been gradually put into ecological use, including KIRINMINER, Bamboo Wallet, RFID blockchain chips, blockchain data collection terminals, etc.

3. The ecology of Waltonchain is developing steadily, and it is actively engaging with various industries to implement the application of sub-chains and related projects in an orderly manner, and has successively realized the application in logistics, wine industry, and agricultural traceability.

With the development of the ecology, we realize that the supporters of the community become the leaders and deciders of the new ecology, in order to create an unprecedented new business ecology.

Autonomous ecology



The vision of Waltonchain is to use blockchain technology to lead people into a reliable digital life, so as to realize the consensus, co-governance, sharing and co-connection of IoT data and services in the information age. At present, the Waltonchain ecosystem is developing steadily. In the next stage, we hope that the community supporters will become the leaders and deciders of the new ecology, gather the innovative ideas and initiatives of the community supporters, and build a broader Waltonchain. ecosystem.

In order to make WTC more stably applied to the cross-chain IoT ecosystem and reduce the impact of market behavior fluctuations on WTC. The Waltonchain Foundation established the Waltonchain Autonomous Ecological Token WTA on the Waltonchain main chain to establish an autonomous foundation.

The Waltonchain Autonomous Foundation will give full play to the advantages of global supporters to jointly build the Waltonchain ecosystem. With the goal of further promoting the Waltonchain ecosystem, it will expand the application field of the Waltonchain globally, so as to truly realize the ecological of decentralization.

This edition of the Blue Book of Community Autonomy provides a detailed plan for the Waltonchain community autonomy, and will mainly publicize the regulations, rights and obligations involved in community autonomy. All members participating in the autonomy of the Waltonchain community have the right to enjoy the Waltonchain autonomous ecological benefits; at the same time, they also need to perform corresponding obligations in accordance with the requirements of the Blue Book to contribute to the ecological development of the Waltonchain.
3. Autonomous Ecological Token


3.1 WTA mechanism

Token name: WTA (WaltonChain Autonomy)

Total: 500 million pieces

Release Rules:

Pre-mined 7%: 35 million pieces

Autonomous ecological prize pool 3%: 15 million

Mining 90%: 450 million pieces



Pre-mining: 7%, with a total of 35 million pieces.

The pre-mining event will last for 7 days, and the Waltonchain Foundation promises to repurchase the WTA obtained in the pre-mining by the users who participated in the pre-mining event at a ratio of 1WTC=9WTA one year after the WTA is issued. Users who participate in the pre-mining activities will receive the same amount of WTA repurchase as the number of pre-mining activities, that is, the amount of pre-mining will be repurchased.

1. SMN and GMN user pre-mining part

The total amount of this part is 25 million WTA. SMN and GMN users will not lose their corresponding status due to participating in pre-mining activities, and will also receive WTA airdrop rewards. After the pre-mining event, the unpre-mined part will enter the autonomous ecological reward pool.

SMN participation method: SMN participates in the 360-day lock-up mining during the pre-mining period, that is, you can get the WTA airdrop in the ratio of 1WTC: 1WTA. The airdrop will release 2% after the pre-mining, and the official mining will start 3 months later. 14% is released every month, issued on a daily basis, and the release is completed in 7 months. From 100,000 WTC, unlock WTC on the 361st day.






GMN participation method: During the pre-mining period, GMN users who hold more than 10,000 WTC can choose to participate in the 360-day lock-up mining. GMN users with less than 10,000 WTC can participate after adding. 2% of the airdrop reward will be released after the pre-mining, and the remaining 14% will be released every month 3 months after the official mining starts. It will be released on a daily basis and will be released in 7 months. Starting from 10000WTC, WTC will be unlocked on the 361st day.






2. All users pre-mined part

The total amount of this part is 10 million WTA, and the unpre-mined part will enter the autonomous ecological reward pool.

All WTC holders can exchange for the corresponding WTA according to the ratio in the table below. This part of WTA will be released 2% after pre-mining, and 14% will be released every month after 3 months of official mining. It will be released on a daily basis and will be released in 7 months.



Autonomous ecological reward pool: 3%, with a total of 15 million WTA - used for reward distribution of community autonomy rules.

Formal mining: 90%, with a total of 450 million pieces - mining is mining, that is, locking WTC can dig out WTA, and the minimum lock-up amount is 200WTC. The mining pool will produce a fixed output of 20,000 WTA every day, which can be withdrawn at any time after it is released. Excavated in about 60 years.

Calculation of personal mining income:
Personal computing power = number of locked coins * time computing power coefficient
Personal daily income = personal computing power / network computing power * 20000 WTA


Users can have multiple mining lock-up orders at the same time.
For orders that choose 15, 30, 60, 90 or 180-day lock-up mining, no early withdrawal is allowed.
For orders that select 270 or 360-day lock-up mining, users can withdraw in advance after 180 days of lock-up, and a handling fee will be charged when withdrawing.
Users who participate in pre-mining are not allowed to withdraw early.

Handling fee = (remaining lock-up time/total lock-up time) * lock-up amount * 0.2.

Example: If the user chooses to lock the position for 360 days, with a total of 5,000 WTC, when withdrawing on the 181st day, he needs to pay a handling fee of 180/360*5000*0.2=500 WTC.

3.2 WTA purpose

1. Integral tasks

The Autonomous Foundation will release community work bidding activities from time to time, and community members will be rewarded with points for completing tasks. Points will be exchanged for WTA at a certain percentage. The directors of the Autonomous Foundation Council and the subordinate project committee members can publish the public task bidding (including task requirements, time nodes and reward amounts, etc.) on the foundation task platform. The platform tasks are for the whole community, and members of the Autonomous Foundation will be hired first. After the task is completed, the admitted applicants need to submit the corresponding report and earn points. Community members who have completed more tasks will receive additional rewards from the Autonomous Foundation, or become project and long-term partners under the council.

2. Deal discounts

We will open the sub-chain platform in the future to support the exchange of sub-chain tokens and WTC and sub-chain tokens and sub-chain tokens on the chain. For token exchange on this chain, WTA will be used as transaction fee.

On the Waltonchain ecological exchange or OTC platform, WTA can be used as a deduction for part of the transaction fee. The details of the deduction will be notified by the exchange.

3. Subchain Platform

WTA will serve as the support fund of the sub-chain, support the sub-chain to go online, and obtain sub-chain tokens. The top three sub-chains that receive the most support from WTA every month will be given priority to launch the sub-chain platform, and have the opportunity to receive financial and resource support from the Waltonchain Foundation. The specific details are to be notified of the launch of the sub-chain platform.

4. Mall

Users can use WTA to deduct the price of goods in the mall. The mall deduction amount will be notified by the mall.


4. Autonomous Foundation


4.1 Constitution of the Autonomous Foundation

Article 1. The purpose of this charter is to regulate the operation of the Waltonchain Global Autonomy Foundation (hereinafter referred to as the Autonomy Foundation), effectively exert the foundation’s decision-making and supervision functions, and maintain the safe and stable operation of the Waltonchain mainnet. Build a global ecological community of Waltonchain.

Article 2. The foundation is composed of ordinary members and directors of the board of directors. Both parties will jointly undertake the operation and management of the foundation and perform their respective responsibilities.

Article 3. Anyone with WTA computing power will automatically obtain the membership of the Autonomous Foundation. Has the right to publish proposals, voting rights and comment rights related to the ecological development of Waltonchain on the Autonomous Foundation platform.

Article 4. Members of the Autonomous Foundation shall perform their duties with integrity and diligence, abide by the Articles of Association of the Autonomous Foundation, and pay attention to and safeguard the interests of the global community and other Waltonchain stakeholders.

Article 5. The directors of the Autonomous Foundation are elected from the members of the Autonomous Foundation through voting for a one-year term. The directors of the Autonomous Foundation have the final vote on the proposal. Users who have locked up and mined for 360 days can participate in the election; each member of the Autonomous Foundation has one vote, and can only vote for one candidate, and the top 15 candidates with the most votes are appointed as members of the council.

Article 6. All Autonomous Foundation members have the right and obligation to express and disseminate proposals that are beneficial to the development of Waltonchain. After a round of voting for all members, the passed proposals will be submitted to the Council for final voting.

Article 7. The directors of the foundation shall bear the ultimate responsibility for the cost management of the foundation, and ensure that reasonable votes are made on the basis of calculating and measuring the matching status of costs and ecological development.

Article 8. Resignation of the members of the foundation council. Foundation directors can choose to resign from the foundation council according to their own reasons, and the vacant seats will be filled by foundation members.

Article 9. Removal of Foundation Council members. If the directors and members of the Autonomous Foundation commit acts that endanger the interests of the Waltonchain and the Waltonchain community, any foundation member can provide evidence and initiate a vote to remove it, and trace the loss of the foundation caused by it.

Article 10. The funds of the Autonomous Foundation are kept by the Walton Chain Foundation. The Walton Chain Foundation will be responsible for distributing the program funds and implementing proposals. All members of the Autonomous Foundation and the Walton Foundation jointly supervise the implementation and implementation of the plan. Effect.

4.2 Autonomous Foundation Members

4.2.1 Membership benefits

1. Members can make proposals for the ecological development of Waltonchain. Once the proposal is approved by all members and the council, it will be rewarded, and the reward amount will be issued by the fund council according to the actual situation. Rewards range from 500WTA to 10,000WTA.

2. Every three months, WTA and sub-chain token airdrop rewards will be issued according to members' community participation (community participation is mainly composed of votes, proposals, executions, membership duration, etc.).

4.2.2 Member's rights

Members are the basic members of the Community Self-Government Foundation and have the right to propose, vote and supervise the Self-Government Foundation Council.

4.2.3 Obligations of members

Members need to have WTA computing power. If they give up WTA computing power, they will lose their membership.

4.2.4 How to become a member

Applicants only need to lock up WTC for mining, and the Autonomous Foundation platform will light up the membership and start issuing WTA mining rewards.

4.3 Foundation Council

As the core representative of the Autonomous Foundation, the Foundation Council has the final right to vote on the sub-chains, malls, exchanges, Dapps, technological development and future ecological components under the Waltonchain ecosystem.

4.3.1 Election of directors

The election of directors is held once a year, that is, the term of office of directors is one year. Before each election, members of the Autonomous Foundation can sign up to become candidates. Candidates can upload campaign materials to the autonomous community. After the candidates are registered, each member will have one vote, and the 15 candidates with the highest votes will become members of the council.

4.3.2 Rights and Interests of Directors

Every six months, council members will receive WTC rewards based on their community contributions, with a total reward pool of 30,000 WTC. At the same time, council members will enjoy a higher WTA deduction when purchasing KIRINMINER.

4.2.3 Obligations of directors

The director must have WTA computing power during the term of office, otherwise the director qualification will be automatically cancelled. If there is a director who gives up the qualification, the director will be added from the 16th place in the election.

4.3.3 Rights of directors

Ecological decision-making: All members of the foundation have the right to make decisions and invest financial support for the sub-chains, malls, exchanges, Dapps, technological development and future ecological components under the Waltonchain ecosystem.




Note: The final interpretation right of the above autonomous ecological blue book belongs to the Waltonchain team.

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