Wolk invites all interested parties to participate in our Token Generation Event. Registration is now open! Sign up today and get added to the whitelist!
WOLK is a form of cryptoasset, or virtual currency, that can be used for certain functions related to purchasing and selling data through the protocol sponsored and operated by Wolk Inc.
Token supply can increase and decrease based on use of the Bancor formula with a 15% ETH Reserve. Token supply increases after the Token Generation Event (TGE) with purchase WOLK function. Token supply decreases after the TGE with sellWolk function.
Up to 10% of WOLK tokens are burnt on API calls which can create scarcity and upward price pressure. Current holders of WOLK may benefit from this potential appreciation.
The value of WOLK tends to be proportional to the amount of valuable data accessed by Wolk APIs.
The value of the WOLK Token can increase as Data is bought, via the Wolk API
The Wolk protocol governs how data sellers and data buyers share valuable data, on a decentralized data exchange. Wolk is initially focused on the key ecosystem of advertising, where the ID space is a closely connected graph of mobile device IDs, emails, and phone numbers.
Buyers who ‘bid’ for data tied to an ID do so in their local currency, and get data back after meeting the sellers "ask" criteria in their currency. Bids and asks are mapped back into WOLK tokens, and the buyers’ WOLK tokens are transferred to the seller and to the data exchange service provider.
As part of this transaction, all recorded on the blockchain, a small percentage of tokens are burnt. This burning of tokens can drive WOLK price appreciation. This rewards early WOLK token holders for their contribution. This also incentivizes data suppliers to be long term hold- ers of WOLK. The more data is exchanged, the more the value of WOLK tokens increase. By combining an unstoppable decentralized virtual currency with an unstoppable data storage, Wolk protocol democratizes data. We are looking forward to a world where data is shared openly in unstoppable ways.
15% supports liquidity of WOLK directly via purchaseWolk, sellWolk functions directly in the token contract, which increase this reserve programmatically.
40% supports Wolk Inc in developing the advertising data exchange and costs around marketing, business development, operations, etc.
45% will support a “Wolk Ecosystem Development Fund,” which will support data supplier onboarding and data buyer onboarding by Wolk Inc. and any future service providers to the protocol.