11.2 WCM (Writing Create Metaverse)
Supply
WCM will be produced on the BSC chain and it is expected that a total amount of 6,000,000,000 WCM tokens would have been produced on 23/09/2022(DD/MM/YYYY).
WCM Vesting Mechanism
60% of the total amount of WCM will be used as the funds for project operation. 0.3% of the total WCM supply will be unlocked every month, this is equivalent to 18,000,000 WCM and it would be halved in the first month of every 4 years. These WCM would be used to support the construction of Read2N Global Ecosystem. The unused WCM will be stored in the Read2N Warehouse.
WCM in the Read2N Warehouse will not participate in the pledge voting. Address for funding:
20% of the total amount of WCM will be used for team motivation.
The WCM obtained by the team would all be unlocked linearly in a time span of 100 months.
The first unlocking date would be 23/07/2023(DD/MM/YYYY). The proportion of unlocking is 10% and 1% would be unlocked every month afterwards.
WCM that have not been distributed or unlocked would not participate in the pledge voting.
20% of the total amount of WCM will be used for the current and future fundraising. The WCM obtained by the first-round investors would all be unlocked linearly in a time span of 80 months.
The first unlocking date would be 23/07/2023(DD/MM/YYYY). The proportion of unlocking is 30% and 1% would be unlocked every month afterwards.
WCM that have not been distributed or unlocked would not participate in the pledge voting.
Earning and Usage of WCM
In Read2N game, one might obtain WCM in the following scenraio:
1. You might obtain WCM when you open the loot box
2. You might obtain WCM when you join the Treasure Hunting event
3. Reward to the consensus constructor (including content creators, medal owners, leasers and owners of book BNFT), this would be distributed in the form of WCM.
When one saves WCM in the Read2N account to pay for the transaction or leasing tax, one could get 20% discount on that. This is the most important scenario of WCM usage.
Reward and Destroy
The expenses of the team would be revised by the Read2N DAO. The annual net income would be converted into WCM and be used as the reward to the WCM pledgees.
There will be a bonus in the rewarding index of pledgees according to the pledge time.
With the approval from Read2N DAO, we could also buy back the WCM using full/part of the annual net income and destroy them.
Last modified 2mo ago