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Author Topic: [ANN] WOTER - The Next Generation, Hybrid Exchange  (Read 289 times)
woter
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February 21, 2018, 08:59:31 PM
 #1

The Woter Project

Website - Whitepaper - Website - Telegram - Twitter - Facebook

Overview

Woter Technologies is a fin-tech startup focusing on blockchain technologies, The Woter team is building the next generation hybrid decentralized exchange where you can trade cryptocurrencies & fiat in a secure model. Your money stays in your wallet until you trade.


The Challenge

Cryptocurrency markets have grown enormously in recent years, from a daily trade volume of $60 million in January of 2015 to more than $8 billion in November of 2017. Despite the fact that most cryptocurrencies are secured by decentralized architectures, almost all trades between currencies take place on centralized exchanges, where funds must be deposited under the control of the entity facilitating exchange. This layer of centralization puts user funds at risk to hackers and platform managers. Most famously, millions of dollars worth of Bitcoin were stolen from Mt. Gox in 2011, and again from Bitfinex in 2016. Recently, decentralized exchanges have emerged to allow users to trade without giving up control of their funds.

Under these systems, trades are executed by smart contracts on a blockchain, removing the need for a centralized third-party to control user accounts. While these exchanges succeed at their primary goal of decreasing third-party risk, their success comes at the cost of a huge loss of trading performance. Smart contracts are far too slow to execute the complex matching logic of order books on high-volume, centralized exchanges. In practice, this means that users cannot execute complex trades, and presents opportunities for arbitrage on stale orders.

The Solution

If centralized exchanges provide speed, and decentralized exchanges provide security, then it seems natural to ask: can a hybrid system provide the best of both worlds? In this paper, we propose that.
 
WOTER exchange is secure and works within ethereum blockchain, smart contracts allow us to pay every WOT holder automatically, cannot be modified and it’s there for life, WOTER exchange will be accessible even if the main site goes offline, anyone can upload and launch it back, it’s an exchange system nobody owns, but to make it possible we are distributing WOT coins or tokens, it’s an ERC20 token, by holding it in your eth address you are earning ether for every exchange that takes place, 25% of the exchange revenue goes back to investors for life.
 
We are creating an earning opportunity for everyone – we are building a fiat/crypto exchange that is low in fees, and shares the revenue with holders of WOT token.

More details can be found in our whitepaper

ICO Details

The WOT token is ERC-20 standard based Ethereum token. WOT tokens grant the holders the right to:

  • Receive 25% of profits generated from the WOTER Exchange operations for life which shall be distributed based on the WOT token holdings
  • WOTER might have to take business decisions that might require voting. WOT token holders can vote on such decisions that come up for voting.

WOT tokens shall be offered for crowd sale for 45 days from 28 Apr 2018.

ICO Summary

  • Token Symbol:WOT
  • Token Standard: ERC20 (Ethereum)
  • Token Issue Volume: 100,000,000
  • Price Per Token:1 WOT = 0.25 USD
  • Soft Cap: $1,000,000.00 USD
  • Hard Cap: $15,475,000.00 USD
  • Pre-ICO Start Date: 1 Mar 2018
  • ICO Start Date:28 Apr 2018


Token Distribution


The tokens shall be distributed as per the below ratio:

  • 70% - Crowd sale
  • 10% - Founders
  • 2% - Bounty program
  • 8% - Partners & Advisors
  • 10% - Reserve

Funds Distribution


The funds from the ICO proceeds shall be used as follows:

  • 40% - Development
  • 20% - Marketing
  • 20% - Operations
  • 5% - Legal
  • 5% - Security
  • 10% - Reserve


Woter Roadmap

The current Woter roadmap is as given below:

Jan 2018
WOT Token Creation:
  • 100,000,000 WOT Tokens created

1 Mar 2018
Pre-ICO:
  • WOT Tokens will be sold at discounted price and held on web wallet.

28 Apr 2018
ICO:
  • WOT tokens ICO will take place for 45 days or till the allocated tokens are sold in full.

Q3 2018
WOT Wallet Creation & WOT on Exchanges:
  • WOT wallet will be available for the public, WOT shall be also added to exchanges.

Q4 2018
WOT Exchange Launch:
  • WOTER Exchange will be launched supporting all major crypto and fiat currencies.

Jan 2019
Income Distribution Starts:
  • 25% income from WOTER Exchange shall be distributed proportionately with WOT token holders via smart contracts.

Beyond 2019
Dynamic Future:
  • More projects will be built, and investors will be able to earn from all of those simply by holding WOT tokens.
  • Future projects will be decided by top WOT holders and votes will be cast by all WOT holders.



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February 21, 2018, 09:03:34 PM
 #2

So like CryptoBridge, but ICO. I'mma pass, but good luck working around the regulations for your security tokens.

twitter.com/notsofast
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February 21, 2018, 09:31:48 PM
 #3

Unlike CryptoBridge, we are not running on BitShares and WOT tokens are premined. We are sure it's not going to be easy with the regulations - especially since the tokens are security tokens. But we would like to be 100% compliant than sorry later. However, we believe in the project and want to give it our 100%.

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February 22, 2018, 09:18:54 PM
 #4

Thanks! There are a lot of hurdles, but we are confident we will make it. Regarding the unsold tokens, we considered few options:

1. Keeping the unsold tokens with the founders + advisors / team members - However, we felt this is not fair to the investors and we ruled this out.

2. Airdropping the unsold tokens proportionately among the investors + team members - Slightly complex & ensures a higher proportion of total token sale with the investors.

3. Burning all the unsold tokens - easiest to do, ensures that unsold tokens do not get dumped later.

4. Do another round of fund raise via an ICO phase 2

In the best interest of the project, we felt that the last option was most suited for us. We have implemented a hard cap of $15,475,000. In case, the hard cap is not met during the ICO, we shall do an ICO phase 2, after hitting our milestone of public availability of the Woter Wallet (currently it is in beta). In this scenario, the WOT token price would be higher than the primary ICO price.

After hitting our hard cap, any unsold tokens would be burnt.

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February 22, 2018, 09:32:56 PM
 #5

Hi everyone! Just added Woter ICO to my website https://concourseq.io/Q/Woter. ConcourseQ is a collaborative due diligence community that researches and reviews ICOs. Anyone with an account can submit information to your page, so we are reaching out to this community to get you all involved in the discussion. Thanks! PS: If you have any questions about filling in the info, feel free to ask us in our discord group: https://discord.gg/j8RBAwB
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February 25, 2018, 04:18:35 PM
 #6

Thanks for adding. Pls let us know if you require any additional information. We would be happy to help.
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February 28, 2018, 06:56:53 AM
 #7

Hello! Your project is very ineteresting for me. Can you more detail tell me abous this paragraph: "Under these systems, trades are executed by smart contracts on a blockchain, removing the need for a centralized third-party to control user accounts."
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February 28, 2018, 07:18:05 AM
 #8

hai woter, do you have bounty program? you should have it...
woter
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March 02, 2018, 06:31:21 PM
 #9

Hello! Your project is very ineteresting for me. Can you more detail tell me abous this paragraph: "Under these systems, trades are executed by smart contracts on a blockchain, removing the need for a centralized third-party to control user accounts."

If you could pm me your email id, I shall connect you with the CTO who could explain this in detail. Appreciate your support. Thanks!
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March 02, 2018, 06:42:02 PM
 #10

hai woter, do you have bounty program? you should have it...

Our referral bounty program is Live. You can sign up on our website and receive WOT tokens for new referrals.

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March 02, 2018, 07:09:31 PM
 #11

https://woter.trade/wp-content/uploads/2018/02/blog-post-ico-2-1080x608.jpg

Our Pre-ICO is live. You can buy tokens here - https://woter.trade
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