Waves Launches Waves Reward Token

Waves | 03.06| 507

We are launching Waves Reward Token, a smart asset that the Waves community will be able to use to reward ambassadors.

To incentivise Waves ambassadors and facilitate feedback from the community for our Ambassadors program, we are launching Waves Reward Token (WRT), which will also be used to demonstrate the potential of smart assets.

Next week, all holders of Waves Community Token who hold at least 10 WCT in their wallets will receive 100 WRT. They will subsequently be able to send WRT to Waves ambassadors as a reward for their activities.

The total number of issued WRT will be twice the supply of WCT held by the community. Waves will retain 50% of the total stake so that it can also reward ambassadors.

Thanks to the smart asset’s script, only ambassadors will be able to sell WRT, which Waves will buy back.

The smart asset will operate as follows:

  • WRT can only be sent to whitelisted addresses (those of ambassadors)
  • The token cannot be burnt
  • It cannot be traded on DEX; only whitelisted addresses can sell it
  • New logic can be added to the script

As this programme is experimental, the smart asset will be renewable, available for renewal on a quarterly basis. If we see substantial interest, we may want to expand the programme to incentivise and reward the community’s most active members.

By introducing WRT, we would like to encourage the Waves community to keep track of ambassadors’ activities, expressing opinions and rewarding them, if they deserve it.

We expect the ambassadors to actively share information about this programme among the community and call on community members to participate. In turn, we will help our ambassadors share information about their activities within the Waves and crypto worlds!

If you want to take part in this new initiative, make sure that you have at least 10 WCT in your wallet!

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