Decentralized Database Services powered by Ethereum SWARM
The WLK Token Generation Event Ends
Wolk invites all interested parties to participate in our Token Generation Event. Participation by U.S. citizens or natural persons is limited to accredited investors. Register today and buy Wolk tokens.
The WLK Token Generation Event will end when either the maximum number of WLK is sold (17,500,000 WLK) or the Token Sale End Date/Time has been reached (October 31, 2017 11:59pm PST). An additional 50,000,000 WLK is created and held by Wolk Inc. when the token sale is finalized, so immediately after the Token Sale there could be up to 67,500,000 WLK in circulation.
Wolk will distribute up to 17,500,000 WLK tokens where the price of WLK in ETH is
.0005 ( 1 + T/17500000) where
T is the # of Tokens issued at the time ETH is sent into the contract:
Wolk tokens are a form of cryptoasset, or virtual currency, that can be used for Wolk's decentralized database services.
Token supply can increase and decrease based on use of the Bancor formula with a 5% ETH Reserve. Token supply increases after the Token Generation Event (TGE) with purchaseWolk function. Token supply decreases after the TGE with sellWolk function.
The value of Wolk tokens tends to be proportional to the amount of valuable content/data accessed by Wolk APIs.
Wolk's SWARM DB is an adaptation of Ethereum SWARM, an open source project of the Ethereum Foundation. Wolk's SWARM support decentralized database services powered by Ethereum SWARM.
Wolk tokens are earned by storage, content and data suppliers. Wolk tokens are spent by commercial users of SWARM database services who obtain storage, content and data from SWARM. All transactions are coordinated with SWARM database services
5% supports liquidity of WLK directly via purchaseWolk, sellWolk functions directly in the Wolk token contract, which increase this reserve programmatically.
75% supports Wolk Inc in developing SWARM database services and costs around marketing, business development, operations, and legal.
20% will support a “Wolk Ecosystem Development Fund,” which will support content+data buyer/supplier onboarding and decentralized app onboarding by Wolk Inc.