WAWLLET launched an ICO for up to 89 million of its WIN Tokens on January 29 at $3 per Token which includes a reservation of $35m USD worth of Tokens for issuance (with 18 months of lock-in-period), in accordance with an EU listed Venture Capital firm. Win Tokens are being delivered to buyers with multiple safety checks in place, assuring that the Tokens distributed is done securely and promptly upon payments.
45 million Tokens are available in a VC and Hedge Funds session with 44 million Tokens on the Public ICO.
The world’s first financial passport and multi-Asset wallet are named as WAWLLET. It can easily connect people, banks, and financial services, both traditional and new, and can change the way people think about and control their money, assets and personal digital identity. WAWLLET lets users transfer between them instantly, wherever their accounts or assets may be in the world providing a single dashboard view of FIAT and digital assets. Exclusive payment method within the WAWLLET platform for transacting fees will use the ERC20 compliant WIN Tokens by the company’s accredited third-party providers.
WAWLLET for the first time introduces an implied settlement value mechanism for its WIN Tokens that reward their early purchasers through the ICO. With guaranteeing a settlement value for each WIN Token which is the highest of:
- USD 9.00 (Nine U.S. Dollars); or
- 0.007605 Ether or
- 0.000765 Bitcoin
- At the time of the relevant transaction the WIN Token market value.
With the above-mentioned mechanism WAWLLET guarantees that in the event the Tokens will become available at a price below USD 9.00, WAWLLET will provide the user services at a minimum rate of USD 9.00 per Token. The WIN Token Settlement value will increase its value proportionally if the cryptocurrencies increase its value.
The founder of WAWLLET, Mihail Lala, commented as
As cryptocurrencies become more prominent and personal online banking thrives, the world needs a secure multi-asset wallet. – Mihail Lala, CFO, WAWLLET
To let users view and manage their FIAT currencies, cryptocurrency accounts, credit/debit cards and gold together in one place the company is building a four-pocket wallet. The users will not only be able to see the total real-time financial position, but they will be able to manage all of their assets seamlessly.
The WAWLLET platform is discussed to integrate it with banking, technology, cryptocurrencies, governance, and security, with FIAT banks, commodity traders, vaults and cryptocurrency exchanges.
As remarked by Lala “Traditional financial models are competing with inherent challenges related to the delivery of their product and service. We have architected that solution.”
Software development of the WAWLLET platform will receive 20% of the funds raised, 20% will go towards business development, 20% to be held for reserves while the remaining 40% will be split between administrative needs, marketing, IT, HR, legal and compliance functions.