WELL (WELL) Token Review
WELL (WELL) is BitWell’s platform token and is based on Ethereum’s decentralized crypto ERC20 Token. It provides drivers for the entire platform ecosystem and serves as a measurement standard for the participants and contributions of all parties in the ecosystem. Token holders (and their representatives) can discuss, propose and vote on any future changes to the composite protocol.
WELL was formally launched on 3 September 2020 Singapore time, but has not yet entered into on-chain circulation.The initial price of WELL was 0.01 USDT and as of 20 November 2020, the price of WELL has risen to 0.16 USDT after several rounds of auctions. the price of WELL will fluctuate in line with market demand and market price fluctuations.
Bitwell is a digital asset derivative service platform. It is founded by senior practitioners from leading Internet companies such as Tencent and Sina, as well as world-renowned financial institutions such as Morgan Stanley and Paypal.Bitwell is committed to building a fair and transparent global digital asset trading platform, providing investors with secure, convenient and intelligent blockchain derivatives trading services. Bitwell option contract will be officially rolled out for public beta on April 6, 2020. After the test is completed and functions are further optimized, it will be officially launched.
To give back to the community, BitWell officials initiated the following proposals: 300,000WELLs of the Community Node Incentive Program’s WELL (16% of the total) will be invested in the vault to reward WELL owners for their support.The community voting is now officially open to all registered BitWell users. BitWell officials will respect the community’s opinion and choose the proposal with more than 50% support. If the proposal is approved, it will be implemented when ‘WELL Vault 2.0’ opens. Please follow the official announcement for the detailed rule and open time about the ‘WELL Vault 2.0
|Started Date||April 6, 2020|
|Acceptable currencies||USD, BTC, ETH|
|WELL Price||$0.196465 USD|
|Market Cap||No Data|
|Circulating Supply||No Data|
|Max Supply||2,100,000,000 WELL|
|Tokens exchange rate||–|
More about WELL (WELL):
WELL was launched at the same time that BitWell platform yield farming started on September 3, 2020 Singapore time. Users can obtain WELL by participating in yield farming. As of the end of yield farming on November 5, users have mined a total of 6.3 million WELLs.
In addition, users can receive WELL by participating in the BitWell platform ‘Free WELL with limited Privilege Card Subscription’ program. After WELL officially enters circulation on the blockchain, it will be directly available for purchase on the BitWell platform.
Genesis Era Round:
- Only for existing users who have participated in yield farming.
2.In the first round, the maximum subscription amount for regular users is the yield farming rewards amount; in the second round, the maximum amount for a single account is 2000 USDT and the minimum subscription amount is 1 USDT.
Dawn Era Round:
- Accessible to all users.
- The maximum amount for a single account is 500,000 USDT and the minimum subscription amount is 300,000 USDT.
Hero Era Round:
- Accessible to all users.
- Maximum 1,000 USDT for single account and minimum 1 USDT for subscription.
Seed round 4%, gradually unlocked after WELL enters the blockchain for 6 months, and will be unlocked linearly in 18 months;
Angel round 4%, gradually unlocked after WELL enters the chain for 6 months, and will be unlocked linearly within 18 months;
16% of the founding team will not be unlocked within 2 years, and then will be unlocked in no less than 2 years by linking to platform operating profits.
For 16% of the yield farming plan, users have mined 6.3 million(0.30% of the total), and the remaining 329.7 million(15.7%) have been completely burned; 8% of the plan part has been given away, and users can obtain by purchasing an NFT privilege card.
In the 8% giveaway plan, the Dawn Era’s Round gifted WELLs are in locked status for the first two months after entering circulation on the chain. Thus, in the first two months, 6.3 million WELLs (0.30%) from the Yield Farming and 42 million WELLs (2%) from the Genesis Era’s Round and 84 million WELLs (4%) from the Hero Era’s Round will be the first to enter circulation, for a total of 132.3 million WELLs (6.3%). After that, when the Dawn Era’s Round is gradually unlocked, the number of WELLs entering circulation on the chain will be 174.3 million, which is 8.3% of the total.
WELL is the representative of BitWell community rights, including:
- Platform trading fee discounts
- Offsetting options fees
- Right of first refusal for products
- Additional rebates
- Community voting rights
- Community governance rights
- Voting rights for major platform decisions
- Right to be selected as a Community Founding Partner
- Customize Well-Man peripherals
- BitWell Private Meeting (exclusive to old users of Genesis Era)
- Exclusive content cooperation (exclusive to old users of Genesis Era)
- BitWell Executive Dialogue (exclusive to old users of Genesis Era)
- Dedicated customer service, VIP level +1 privilege (exclusive to Dawn Era users)
As such, BitWell will do its utmost to ensure that the price of the WELL is reasonable and stable, to continually increase its intrinsic value, to maintain the health of the BitWell ecosystem, to extend its reach and to provide additional points of connection to value for all participants.
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