World Mobile Token

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Discover World Mobile Token's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is World Mobile Token?

World Mobile Token (WMT) is a digital currency designed to facilitate and incentivize the expansion of the World Mobile network, which aims to connect the unconnected through blockchain technology. It is a utility token that powers the sharing economy of World Mobile's global mobile network, rewarding node operators and token stakers for processing transactions and services.

How is World Mobile Token used?

World Mobile Token (WMT) is the utility token that powers the sharing economy of World Mobile's global mobile network. It is used to incentivize and reward users and node operators for their participation in the network. Here are the key ways WMT is used:

  • Node Operators and Stakers: WMT is earned by node operators and stakers for processing network transactions and providing services to customers. This includes calls, texts, data usage, and other value-added services like content, finance, healthcare, insurance, and micro-loans.
  • Reward Mechanism: The token is used to reward users and node operators for their contributions to the network. This includes staking WMT to node operators, which helps secure the network and earn rewards.
  • Network Revenue: World Mobile uses network revenue to purchase WMT from open markets, which is then allocated to operators and stakers as rewards.
  • Governance: Users can earn WMT tokens by participating in governance, ensuring active participation and distributed decision-making power within the community.

Overall, WMT plays a crucial role in incentivizing the growth and sustainability of the World Mobile network, which aims to bridge the global digital divide by providing affordable and secure internet connectivity in remote areas.

How do I store World Mobile Token?

To store World Mobile Token (WMT) tokens securely, follow these steps:

  1. Create a Cardano Wallet: Set up a Cardano wallet to store your WMT tokens. This will provide you with seed words, which are crucial for recovering your wallet if you lose access to it.

  2. Store Seed Words Safely: Keep your seed words written down on a non-digital format, such as a piece of paper, and store it in a secure location. This will ensure you can recover your wallet if needed.

  3. Use a Non-Custodial Vault: Create a non-custodial vault to manage your WMT tokens. This vault allows you to stake your tokens, monitor rewards, and track blockchain data.

  1. Avoid Centralized Exchanges: Do not store your WMT tokens on centralized exchanges for extended periods, as this prevents you from staking your tokens in the World Mobile Token Vault.

  2. Use Supported Wallets: Ensure you use supported Cardano wallets to store your WMT tokens. You can check the supported wallets page for more information.

  3. Hardware Wallets: Consider using hardware wallets like Ledger Live, which can store and manage your WMT tokens securely.

By following these steps, you can safely store and manage your World Mobile Token (WMT) tokens.

How to buy World Mobile Token?

To buy World Mobile Token (WMT) tokens, follow these steps:

  1. Choose a Crypto Exchange: Select a reliable centralized exchange such as KuCoin, gate.io, or MEXC. Ensure the exchange accepts customers from your country and offers the features you need.

  2. Create an Account: Register a free account on the chosen exchange, providing personal information such as your name and email address. You may need to complete KYC for higher withdrawal limits and additional features.

  3. Deposit Funds: Add funds to your exchange account using a payment method accepted by the exchange. This can include credit/debit cards, bank transfers, or other cryptocurrencies.

  1. Place a Buy Order: Decide whether to use a Market Order or Limit Order. Market Orders execute immediately at the current market price, while Limit Orders allow you to set a specific price for the purchase.

  2. Store Your WMT: Once you have purchased WMT, store it securely in a crypto wallet. You can use the wallet provided by the exchange or a third-party wallet like Trust Wallet.

  3. Track Your Investment: Monitor your WMT investment performance regularly to make informed decisions about your portfolio.

Alternatively, you can also use a decentralized exchange (DEX) like 1inch by connecting your crypto wallet and swapping your ETH for WMT.

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History of World Mobile Token

The World Mobile Token (WMT) is a utility token developed in partnership between Input Output Global and World Mobile. The token was created to democratize access to digital, financial, and social services in Africa, particularly for the approximately 4 billion people who remain offline. The token sale for WMT took place from June 14, 2021, to August 9, 2021, with a price of $0.20 per token. The sale aimed to raise funds for the development of the World Mobile Chain, a blockchain-based solution that uses the sharing economy to provide affordable network nodes and internet connectivity.

The primary role of WMT is to incentivize both token holders and node operators. Token holders can delegate their WMT stake to node operators and earn rewards, while node operators operate their own nodes and provide services to subscribers. These services include digital banking, healthcare, and education through Input Output’s digital identity solution, Atala PRISM.

As of the current date, the live price of WMT is $0.305135 USD, with a 24-hour trading volume of $1,462,041 USD and a market capitalization of $147,326,619. The total supply of WMT is capped at 2,000,000,000 tokens.

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How World Mobile Token works

World Mobile Token (WMT) is a digital currency designed to facilitate and incentivize the expansion of a community-powered mobile network, aiming to connect the unconnected through blockchain technology. Here is a detailed explanation of how WMT works:

Infrastructure

The network is built on three key infrastructures:

  • Aether Nodes: Connect to existing legacy telecommunications networks.
  • Earth Nodes: Validate and secure the network. These nodes can be set up by anyone with a simple computer and internet connection.
  • Air Nodes: Provide actual connectivity and internet access to local users by receiving signals from prior nodes and offering wireless connectivity.
Sharing Economy

Local business owners can purchase Air Nodes for around $5,000 to connect their communities to the internet. They earn WMT rewards from transaction fees and inflation rewards. Users pay for internet services with their local currency.

Users

Each Air Node provides reliable Wi-Fi internet to 500-700 people and ancillary utilities like public lighting through integrated solar-powered floodlights.

Token Economy
  • Transaction Fees: Paid to node operators in WMT.
  • Rewards: Operators share rewards with stakers who delegated their WMT to their nodes.
  • Network Revenue: Used to purchase WMT from open markets.
  • Reward Allocation: Operators and stakers receive their rewards.
Use Cases
  • Node Operators: Earn WMT for processing network transactions and services.
  • Stakers: Earn WMT by staking their tokens to node operators.
  • Discounts: Customers holding WMT can receive discounts on their service bills.
  • Buyback System: Network revenue is used to buy back WMT in the open market, creating a continuous demand and distributing the tokens back to node operators and stakers.
Blockchain Integration
  • Cardano: WMT is built on the Cardano blockchain, leveraging its low transaction fees, fast speeds, and focus on sustainability.
  • Atala PRISM: Used for digital identity solutions, empowering users with control over their personal data.
Token Distribution
  • Co-founders: 17.75%
  • Operation Fund: 18%
  • Node Operators and Stakers: 29%
  • Public Sale: 10%
  • Private Sale: 2.5%
  • Community Fund: 2%
  • Advisors: 5.9%
  • Partnership Allocations: 7.85%
  • Incentive Rewards: 3.0%
  • Early Staking Rewards: 2.5%

This distribution model incentivizes all stakeholders, ensuring a vested interest in the network's success and the broader adoption of WMT within the ecosystem.

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World Mobile Token's strengths

World Mobile Token (WMT) has several strengths that contribute to its potential for success and widespread adoption:

  1. Unique Positioning: WMT stands out by abstracting blockchain complexity from the end user, making it accessible to a broader audience. Its user interface and physical infrastructure are similar to traditional telecom providers, but it leverages blockchain technology for efficiency and security.

  2. Incentivization: WMT incentivizes participation and investment in the network through a sharing economy model. Node operators and stakers earn WMT for processing transactions and services, which encourages local ownership and operation of network infrastructure.

  3. Scalability and Sustainability: The token distribution model is designed to support the network’s growth and sustainability, with a significant portion allocated to node operators and stakers. This ensures a vested interest in the network’s success and the broader adoption of WMT.

  1. Blockchain Technology: WMT uses the power of Cardano to unlock the benefits of blockchain on a mobile network, ensuring secure, transparent operations and fostering community engagement.

  2. Renewable Energy: World Mobile aims to reduce costs and promote sustainability through the use of renewable energy sources, making it a more environmentally friendly option.

  3. Digital Inclusion: WMT is positioned to bridge the global digital divide by providing affordable access to underserved areas, especially in regions like Sub-Saharan Africa where connectivity is limited.

  1. Strong Tokenomics: The token distribution model is strategically planned to ensure the network’s growth and sustainability, with a significant portion allocated to node operators and stakers. This incentivizes all stakeholders, from co-founders to community members, ensuring a vested interest in the network’s success.

These strengths collectively contribute to WMT’s potential to revolutionize connectivity and access to digital services, making it a key driver in bridging the global digital divide.

World Mobile Token's risks

World Mobile Token (WMT) carries several risks associated with its volatility and market dynamics. Recent price movements have given WMT a high risk score due to significant price fluctuations in relation to volume changes over the past 24 hours. Additionally, InvestorsObserver analysis assigns WMT an average risk rating, indicating that it can be manipulated by limited trading due to recent changes in volume and market capitalization. Furthermore, the token purchase agreement highlights that any purchase of WMT is associated with considerable risks, which may lead to a complete loss of invested assets.

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Did World Mobile Token raise funds?

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World Mobile Token’s team

  • Micky Watkins: The team leader behind World Mobile Token (WMT), aiming to provide internet access for all through the World Mobile network.

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