Woonkly Platform + Passive Income = the True DeFi
Explaining Woonkly Share Token (WST) — Learn what it is and how does it works in Part 2 on the Woonkly Platform series
In the previous post of this series about the Woonkly ecosystem, we explained how to sign up at www.woonkly.com. This time, in part 2 of the series, we will focus on the Woonkly Share Token, WST, the keystone that makes our platform true Decentralized Finance, DeFi, solution for advertisers, influencers and the audience they want to reach.
Nowadays, the most well-known streaming platforms run on a centralized model that benefits companies before users. YouTube shoots ads at you in every monetizable video, sometimes every few minutes and even more than one — unskippable. — ad in a row! You can avoid most annoying ads by paying a monthly fee, but still, some will find your screen. Are we doomed by ads?
Woonkly, Decentralized Streaming
Woonkly has a native ERC20 token, the WOONK, running on the Ethereum blockchain. WOONK is already listed on LAToken: WOONK/ETH pair. Our platform’s value and use cases can be summarized in a few lines:
- The international highly-innovative platform for the advertising industry joining advertisers, influencers and their audience seamlessly,
Advertisers can have their content go viral at a budget, influencers can get income from videos and the viewers receive tokens. It’s a win-win-win scenario.
- Woonkly shares WOONK tokens with users in proportion to their engagement with digital content, i.e., commenting, watching, etc. (only video format available now but there will be more formats in the future!),
- Users can also get passive income by owning WST. More on how to do it below.
The main benefits of using Woonkly are the following:
- Woonkly removes the middlemen to make ends meet,
- Advertisers see their budget reduced while rewarding viewers,
- But there is more! Positive brand awareness, full metrics of campaigns, etc.
What is DeFi Again?
The crypto space has boomed a few years ago. Back in 2016-17 one landing page website was enough to kickstart ICOs. However, there were so many scams that these fevers ended for good. Next, STOs seemed the next big thing, but there is too much paperwork for such projects. More recently, DeFi has become the hot buzzword to input everywhere for clicks.
We can define DeFi with these simple ideas:
DeFi is a term for financial tools implemented on the Ethereum network,
Anyone with internet access can lend, borrow and bank without the need for middle men or intermediares or any kind (decentralization),
There is a lot of interest for these developments, DeFi is one of the fastest growing areas of the blockchain and decentralized devs.
Similar to what happened with the ICO madness some years ago, people may lose their way by using DeFi as a must-have in every project. It never made sense to start an ICO for any idea. Likewise, not every project can become a DeFi architecture overnight — there is more to it than adding the keyword on the whitepaper.
“When a measure becomes a target, it ceases to be a good measure” — Goodhart’s Law
Unfortunately, most projects that claim to have DeFi developments may not be even close. Many operate in a hybrid of centralized and decentralized models with the former covering most operations. There are some pieces that need to be in place to make DeFi work: the basis is a real business model, there is also the need for a sustainable ecosystem and, of course, you need to operate decentralized up to a high level — some operations may remain centralized if there is no reason to include them in the blockchain or due to other reasons.
What is WST?
Woonkly dividends are “tokenized”, offering token holders a real percentage of Woonkly’s revenues. In addition to the WOONK, we also have the WST, one unit of this token equals 0.01% of the company market value. The WST is a security token regulated by smart contract under a license granted to Woonkly OU, a company under Estonian law.
100.000 WOONK = 1 WST
1 WST = 0.01% Woonkly
In a nutshell, having WST provides you automated profits in ETH directly to your wallet in proportion to Woonkly platform performance.
1. How do you get WST?
You can seamlessly convert 100k WOONK into 1 WST and vice versa at any moment from your user dashboard on out website. It’s easy and simple with the current UX/UI friendly environment. You can store ETH, WOONK, and WST in your account without any cost. No experience with crypto required.
2. How do WST Holders Receive their Revenue?
WST holders receive Ethereum (ETH) periodically in proportion for the number of WST they possess plus the percentage amount of WOONK that corresponds to service commissions.
3. Staking or Hodl?
Recently, there has been a massive pump in different Ethereum pairs, such as ETH USD, ETH EUR, ETH BTC, etc. The move has been led by a solid rise in the BTC price. Thus, the Ethereum euro and other related pairs have been directly benefited from the bullish market tendency.
Our ecosystem helps active users get WOONK, which can be traded for ETH, in proportion to their engagement. But, it is also possible to get ETH directly from the revenue sharing within WST holders — fully passive. Staking or holding (commonly, hold to play it cool) crypto is up to you, Woonkly lets you play the game the way you want.
Woonkly, True DeFi
Woonkly aims to become a fully automated platform operating in the blockchain in the long term. Right now, most of the services are already registered in the ETH blockchain, such as WOONK to WST conversions, and other features. In the 3.x versions of our ecosystem, we have seen a great development of the platform with revamped UX and UI.
But, Woonkly is constantly evolving and being updated. Security measures have been added to make out platform more robust against any crypto attack attempt. Soon, there will be more awesome features available on the platform when the dev tasks are complete.
Wrapping it Up
Woonkly strong points:
- Woonkly ecosystem is not a staking scheme where token holders receive WOONK as in an airdrop,
- Woonkly is a 100% decentralized platform that 100% automates and 100% shares the revenue from advertisers among all WST holders,
- Woonkly is backed by a real business model (i.e. the automatic decentralization of the advertising industry).
Woonkly = 100% · (decentralized + automatic + revenue sharing) streaming platform
The Next Step
Decentralization is not a solved problem. According to a recent post by Vitalik Buterin on the progress of hard problems in cryptocurrency, there is still a lot to do in the application layer. With the upcoming deployment of Ethereum 2.0 by the end of this year or maybe in 2021, we expect to see the improvements in scalability, staking, more mining efficiency, and a lot more. Since the Woonkly ecosystem runs on the ETH blockchain, this is great news.
What’s more, we expect updates on the Woonkly platform that will take the UX/UI to the next level within the next weeks. This is an exciting time to become an active user, a passive income receiver, an advertiser — or all of them! Woonkly is the only platform that allows different use styles without any cost seamlessly. Stay tuned for updates.
Written by César Patiño, PR Manager at Woonkly.
