W Green Pay ICO
Token reward system for reducing greenhouse gas emissions
|ICO Name||W Green Pay|
|Description||Token reward system for reducing greenhouse gas emissions|
|White Paper URL||http//wpay.sg/WGreenPay-whitepaper-v2.0.pdf|
|ICO Launch||2018/10/01 00:00|
|ICO Closing||2018/10/14 00:00|
|Token Platform||Stellar Lumens|
|Funding Target||$25 million|
|Funding Cap||200 million WGP|
Blockchains are set to change the world and there’s no better way to make a difference than by helping reduce greenhouse gas emissions. With South Korea now working to reduce its annual greenhouse gas (GHG) output, the W-Foundation has come up with a way to incentivise people to help via the W Green Pay platform.
To fund this project and introduce liquidity to the ecosystem, the W Green Pay ICO is set to sell WGP coins between October 1 and 14, 2018. To show you how and why you should take part in the W Green Pay token sale, we’ve compiled a complete guide to this environmentally friendly project.
What is W Green Pay?
The W Green Pay ICO registration page tells you all you need to know about this project. However, to give you an overview of the concept and how W Green Pay will evolve, here are the fundamentals:
The W Green Pay ICO Concept
The W Green Pay ICO is about selling tokens that will help fund the reward system. Put simply, W Green Pay will use the Stellar blockchain to reward HOOXI users with digital tokens. The more energy conscious a user is, the more coins they’ll receive. These tokens can be used to buy goods and service online or converted to cash.
To ensure the system can sustain itself, coin holders will also be able to trade their coins on the purpose-built WGP exchange. The exchange will ensure the tokens have an inherent value. The W Green Pay ICO is a way of kickstarting the system and creating enough liquidity to make the reward scheme viable.
Which Blockchain Will W Green Pay Use?
Although Ethereum is the most popular platform for initial coin offerings, the W Green Pay will take place on the Stellar blockchain. This actually affords W Green Pay a number of benefits. Firstly, if you buy Stellar Lumens, you’ll notice it is much cheaper then Ethereum’s ETH coin. On top of this, the transactions fees on Stellar are lower.
Another of Stellar’s advantages is its speed. The average settlement time on Stellar is five seconds, while Ethereum is over three minutes.
The W Green Pay Team
The W Green Pay ICO register is full of industry experts and heading the team is Wook Lee. Graduating from the Cheung Kong Graduate School of Business, Lee created the W Foundation in 2012. Using his business knowledge, Lee has forged a long-term relationship with the Korean government and is now using modern technology to boost the country’s environmental efforts.
The W Green Pay Roadmap
Prior to the third W Green Pay token sale, this project has hit a number of important milestones:
- December 2017 – HOOXI makes its campaign declaration.
- April 2018 – W Green Pay gets certified in Singapore and HOOXI committee is formed.
- May 2018 – Private W Green Pay token sale.
- 0ctober 2018 – Public W Green Pay ICO.
Following the forthcoming ICO, W Green Pay will launch the HOOXI app in November before the W Exchange goes live in March 2019.
Is it a scam?
Because this project is backed by the Korean government, we’re confident the W Green Pay ICO isn’t a scam.
Strengths & Challenges of the W Green Pay ICO
This project’s greatest strength is its environmental stance. With governments around the world looking to minimise their impact on the world, any innovations in this field are always popular. What’s more, government backing means the HOOXI app nor the reward system are likely to go bust.
Looking at the negatives, people may not care enough about the environment to make use of the HOOXI app. Secondly, the trading volume might not be enough to sustain the project. However, the chances are it will be popular and that, in turn, should ensure the network can sustain itself.
The Token Sale
As we’ve said, the W Green Pay ICO will take place on the Stellar blockchain. A fixed total of one billion WGP tokens will be created, with 800 million being held by W Green Pay. The tokens kept aside will be used in the following ways:
- 200 million held by the issuer (locked for six months).
- 200 million allocated to the HOOXI app to be used for the rewards scheme.
- 400 million reserved for a future sale.
Between the private and public sales, 200 million WGP will be issued. The price of a single WGP token is $2 and investors can pay using XLM, ETH, BTC and USD.
How to Buy W Green Pay Tokens
Taking part in the W Green Pay ICO is all a matter of following these simple steps:
- Visit wpay.sg homepage
- Read the W Green Pay ICO whitepaper to learn more about the project.
- Click participate and enter your name and email address to complete the W Green Pay ICO registration process.
- Wait for an email notification and click the relevant link to join the W Green Pay token sale when it goes live on October 1.
Should I Invest in ICO?
In terms of ICOs, W Green Pay is one of the best projects we’ve seen for a while. Not only does it have a socially responsible goal, it’s backed by the Korean government. However, even with all its positives, nothing is ever certain in the ICO world. If you’re slightly more risk-averse, buying a more established digital coin is a safer option.
Using eToro, you can speculate on the price of popular cryptos like BTC and ETH going up or down. When you invest in an ICO, you’ll only make money when the value of the asset improves. By using a broker site, you can bet on either side of the proverbial coin. If that sounds like something you’d prefer, check out our eToro review to find out how you can trade crypto CFDs.
Similar Projects to W Green Pay
If you like the idea of ICOs, check out some of our recommended token sales. For something along the same environmentally focused lines at W Green Pay, check out this alternative:
Save environment Token ICO – The Save Environment Token (SET) project rewards companies for promoting environmentally products and services. As well as promoting environmental products, SET aims to become a marketplace for environmentally-friendly products.