- Waves Platform announced the launch of Waves Reward Token (WRT)
- It gives Waves users a way to reward ambassadors while also showcasing the use cases for Waves Platform smart assets
- 50% of the total WRT supply will remain the property of Waves, while the other half will be split among Waves Community Token holders
Waves Platform launches an intitiative to reward ambassadors – the Waves Reward Token (WRT). The announcement happened in a blog post on February 28, 2019.
The Goals of the Program
WRT is introduced for several reasons:
- The token will make it possible to motivate ambassadors – people that help educate others about the advantages of Waves, growing the community. Waves expects ambassadors to share the information about the program
- It will demonstrate the new use cases and potential of Waves-based assets
- The token will help the team to learn more about which of the smart asset functioning models are the most efficient; WRT is an experiment that will provide the much-needed information
The asset script only allows ambassadors to sell WRT, which the platform itself then buys back, guaranteeing its value. Although WRT supply is limited, the asset is available for renewal on a quarterly basis.
The platform doesn’t count out a possibility to expand the program further in order to reward the most active members of the community. This will happen in case users show sufficient interest.
In the end, the program can serve as a good example for the whole cryptocurrency community, providing a way to boost adoption levels by rewarding the ambassadors.
How Does WRT Work?
WRT has a number of differences from tokens like WAVES:
- It can only be sent to the addresses of the ambassadors, because only they are whitelisted
- It is impossible to burn WRT
- Because it can be sold only by the ambassadors, it is impossible to trade it on Waves DEX
How the Supply Will Be Split
50% of the WRT supply will remain the property of Waves. Because of this, the core team will be able to reward ambassadors.
The remaining half will be split among Waves users.
Any user holding at least 10 Waves Community Tokens (WCT) is eligible to receive 100 WRT next week. Later on, users will be able to send WRT to Waves ambassadors to encourage them to continue their work or reward them.