Wicrypt Token Utilities — Decentralizing Internet Service

With internet connectivity serving as a bridge to every community’s success and economic health worldwide, Wicrypt is making rapid strides in its mission to provide greater accessibility and opportunities to empower rural areas with decentralized internet.

Wicrypt Network, through the use of blockchain technology design, has created a decentralized community network that provides high-speed internet connectivity by empowering anyone to become an Internet Service Provider (ISP). This means anyone can share their bandwidth with others and also earn money in the process.

Keeping that in mind, let’s take a look at the token utilities of $WNT — Wicrypt Network Tokens, the native cryptocurrency that powers the Wicrypt ecosystem.

WNT token utilities:

• Governance: $WNT holders can perform actions to govern the entire Wicrypt network. Governable parameters will include, but will not be limited to:

1. Bandwidth amount to be shared by the host to earn $WNT.
2. Bandwidth amount to be consumed by the client to earn $WNT.
3. Maximum billing rate a host can set.
4. Minimum uptime a host’s hotspot will have in order to earn $WNT.

• Staking: Hosts will stake $WNT to join the Wicrypt network and be able to act as hosts. Hosts need to stake $WNT to disincentivize them from malicious behavior by requiring them to have “skin in the game”.

- Hosts will lose staked amounts if the hosts carry out malicious activities.

- The hosts also earn rewards in $WNT when they have met certain conditions while providing bandwidth to connected clients.

There are two types of Wi-Fi hosts in the Wicrypt network:

1. $WNT reward-earning hosts.
2. Non-$WNT reward-earning hosts.

• Staking Rewards: $WNT is used to reward the hosts that provide active hotspots with high uptime and have shared a specific amount of bandwidth. 20% of overall network tokens will be allocated for the $WNT reward for hosts. Clients get incentivized with $WNT when they connect to multiple hosts for a specified period of time and have consumed a specific amount of bandwidth. 5% of overall network tokens will be allocated for client rewards.

Don’t forget to subscribe to our WICRYPT Substack newsletter, as you’ll be first to know about rewards, contests, and important company updates. First newsletter is out this week: https://wicrypt.substack.com/p/coming-soon

To get started: visit wicrypt.com today!

About Wicrypt Network

Wicrypt is a decentralized mobile internet sharing and monetization network, allowing anyone to get paid for sharing their WiFi. Wicrypt is the first African company to build a peer-to-peer infrastructure for sharing mobile internet data without the need for third-party integration. WiFi can be shared via Wicrypt’s custom, affordable Hotspot Creator or mobile devices, while providers can tailor unique experiences, including surveys and ads, while collecting customer data. An already profitable company, Wicrypt has an exclusive partnership with the city of Enugu, Nigeria, to provide last-mile internet service to its citizens.

Wicrypt has an international team with experience working for some of Africa’s largest employers, including KPMG, Chevron, Accenture, Nielsen, and MTN Group, and is headquartered in Enugu, Nigeria.

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