Whole Earth Foundation Announces Beta Launch of TEKKON and Changes to Whole Earth Coins

Whole Earth Foundation (WEF) today announces that it plans to launch a public beta of a new Find-to-Earn WEB3 application called “TEKKON”, which will allow citizens of WEF to earn Whole Earth Coins (WEC) by reviewing, collecting and disseminating critical infrastructure data around the world. TEKKON empowers users to help fix their local community’s environment by gathering current information about conditions of aging infrastructures. The beta launch of TEKKON is an important step in realizing WEF’s mission to democratize infrastructure management, which we believe will ultimately improve the reliability and performance of critical infrastructures and prevent failure and costly repairs. We expect that the public beta launch will commence on or around September 1, 2022. For a more detailed description of TEKKON and the process for earning WEC, please see the updated white paper at https://whitepaper.wholeearthfoundation.org/ and the website for TEKKON: https://tekkon.com/

As the operation of WEF continues to grow and the number of users increases, it is critical that we make certain changes to our ecosystem and WECs so that we can better support the TEKKON launch and other initiatives in the future. Accordingly, we are announcing the proposed implementation of following actions:

  1. We intend to migrate WEC from the Ethereum Chain to the Solana Chain in order to take advantage of Solana’s lower transaction fees (gas fees) and higher processing speed for participants of the WEF platform. This migration will enable a more cost effective process for users to collect infrastructure information and earn additional WEC.
  2. The total supply of WEC will be changed from a fixed amount (which is currently fixed at 300,000,000) to a variable amount, the exact number of which will be determined by WEF based on future usage of our platform, the need to maintain business operations, and other factors. WEF intends to announce publicly the number of total supply of WEC and any additional WEC that will be minted.

WEF believes that these changes will benefit WEC holders by establishing a more flexible system for continued growth and expansion of the WEF ecosystem, and to enable the WEF platform to host more projects and attract additional users that will support WEF’s objectives. Existing and future WEC holders will enjoy not only the higher speed and lower costs of the new Solana chain, but the expansion of the WEF platform will ultimately facilitate a more vibrant and valued community for all participants.

We are currently working with various parties, including crypto exchanges on which WEC are traded, to ensure these changes are implemented timely and smoothly. We expect the proposed changes will follow the timeline below, subject to adjustment as needed:

  • Deployment of the WEC Smart Contract to Solana Chain commenced on July 16, 2022.
  • WEC on Ethereum are expected to be migrated to WEC on Solana between August 25, 2022 and September 30, 2022. Depending on how you hold your WEC, you may be required to take action to complete the migration by swapping your WECs:

If you hold WEC with one of our partner crypto exchanges, the swap of current WEC (Ethereum) to new WEC (Solana) will happen automatically, and no action will be required on your part. The migration is targeted to commence on or about Aug 25, 2022. However, due to specific procedures required by each crypto exchange, the timing of this swap may be delayed, and we intend to provide updates as more information becomes available.

Subject to confirmation and verification of certain conditions, including legal and regulatory requirements, other WEC holders will be required to migrate their coins manually. Under this process, holders must provide a digital signature generated on https://etherscan.io/verifiedSignatures to confirm the ownership of the wallet holding WEC. WEC holders must complete the following steps.

  • Create an account at https://etherscan.io
  • Sign a confirmation message once to verify ownership of each address holding WEC
  • Submit the https://etherscan.io signature url, a Solana based address and the WEC token amount requested to Google form (To be posted later date)

We expect the portal to be available from August 25, 2022 to September 30, 2022 for those who would like to exchange WEC directly. We intend to provide more detailed instructions on the procedure for migrating WEC a few days before the 25th of August, 2022.

Once the migration is complete, WEC on Ethereum will no longer be supported. Therefore, to the extent you need to swap your WEC on Ethereum with the new WEC, we urge you to complete the swap on time to ensure you continue to be a part of the WEC Community.

We are very excited about this development and look forward to the next phase of our mission.

Whole Earth Foundation Management Team

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Whole Earth Foundation

Whole Earth Foundation

We Democratize Infrastructure Management