to ease our communication i will call:
WWAMtoken the ERC20 used in the funding rounds
WWAMcurrency which is what the new blockchain will use for the transactions/information exchange.
1. Will the WWAM team create a system that will redeem WWAMtokens for WWAMcurrency?
2. Which coin will be listed in exchanges? the WWAMtoken or the WWAMcurrency ?
3. In order for a developer to create a chat application using the WWAM protocol he needs to stock up in WWAMtokens or WWAMcurrency?
4. Is there a premium converting WWAMtoken for WWAMcurrency? what is the competitive advantage of an ICO investor? does he get more WWAMcurrency because he/she redeemed WWAMtoken (proving to be an early investor) thus buying the service at a discount.
5. Does each application have its own "'branch" of the chain? or all messages from all sources use the same chain?
6. How does this kind of blockchain interoperability work out? are you using rootstock/cosmos/smart bridges or something similar?
7. The more an application uses the chain the coins the users (or service provider needs), will the coins needed gain value due to their scarcity? (a fixed number of coins with no additional minting)
8. If all the tokens will be created at the funding events, the "end users" will need to buy the coins off the initial investors at whatever price they set?
Sorry for asking so many questions but your project is complicated even at a concept level and i really dont want to misrepresent you.
I don't mind answering as much questions as you have in mind. Actually I'm glad that someone took the time to show such interest in the project and highlighting legitimate and in-depth questions for a perfect understanding that will probably serve as a reference for any future user that might be interested in the project
We didn't realized that the project would look such complex for people external to it, so I'll try to keep it simple to answers those questions, hoping that I won't loose anyone.
As you said there will be no additional creation of coins. the WWAMcurrency will be fixed at a 1:1 supply rate with the WWAMtokens. Both are one, in fact, 1 WWAMtoken on the Ethereum blockchain will have it's equivalent 1 WWAMcurrency in our blockchain. There will be no premium for converting WWAMTokens to WWAMcurrency, as the only way to actually acquire WWAMcurrency will be WWAMTokens. It will just be like switching the currency from the Ethereum blockchain to ours.
The conversion from WWAMTokens to WWAMCurrency will be external, most likely by providing an automated platform interacting with an upgraded version of the WWAMToken contract, burning tokens in exchange of WWAMcurrency. Integrating it at the protocol level is out of the question, as it will impact the performance heavily and rely on another blockchain to process transactions.
It will be a one-way conversion, burning tokens definitively in exchange of WWAMcurrency. At that point, probably both currencies will be listed on exchange, and their price should be the exact same for a given supply. Days after days, the supply of WWAMTokens should reduce to increase the WWAMcurrency supply, until we reach a the point where no WWAMTokens will be leftm and the full supply is converted into WWAMcurrency (Ideally). The currency used by the protocol will be the WWAMcurrency, the WWAMTokens serve the only purpose of being converted to WWAMcurrency.
Moving onto the application development part, the blockchain will be unique, there's no branching system for applications. It's just aprotocol, and each application will have to comply with the protocol rules to be able to use the blockchain. As it will be standardized, it will allow any application to be able to initiate a communication with a different messaging application (As it would be the case with an IRC or Jabber client for exmaple, you don't need to use the same client as the person you're chatting with).
Regarding your last question - Yes, the WWAMcurrency is expected to gain value over time, due to the limited supply.
