The world’s first peer-to-peer social media platform with a built in staking rewards program.
Weownomy Platform has announced the launch of Liquidity and staking rewards program. The 200 million WEOWNS stake program will be divided into three categories: – Remittance & Crypto trading where there are no transactions fees, participants get an extra amount when sending or receiving money; social media users are incentivized to post, share and interact with content on the Weownomy Platform in order to earn WEOWNS, which can be used as an exchange currency or cashed out into other cryptocurrencies or fiat currencies at any time.
Weownomy’s latest project, MyWEOWNS Debt Free Personal Economic Security Program, introduces a sustainable personal economic system that aims to enable people to thrive financially without being burdened by debt.
In preparation for the launch of WeownomyChat, an instant messaging app in November 2021, the board approved to reward those who share its vision for the long-term success of a new alternative social media platform and its currency of kindness, WEOWNS.
“This reward program is one way we can help share our vision of long-term success with those who are ready to be part of the WEOWNOMY revolution,” said Ssemakula Peter Luyima.
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The World’s First WEOWNS Economy Program
The World’s First WEOWNS Economy Program will be launched on 29 to 31, October 2021. The program provides 200 million WEOWNS to registered participants, allowing them to have a position in WEOWNS by holding the token. There are three ways of participation: 1) An individual or company can open an account with WeownomyPay and make their first WEOWNS transaction 2) A company can register with WEOWNS’ click-to-earn WeownomyChat Ads as platform currency converted into other crypto or fiat currencies 3) Investors can stake Ether in WEOWNS’ staking reward program period (October 29-31).
WEOWNS has three key features: 1) It’s backed by continual transaction 2) As people use WEOWNS, it becomes worth more because of the underlying principles of supply and demand, meaning you can earn an extra amount above your initial purchase price. 3) New opportunities for growth with increasing participants. For every WEOWNS coin created through the network, another will be destroyed through use or transaction. This makes it possible to have an infinite supply while still having value because demand will always be higher than supply, making this the most stable cryptocurrency ever made.
The WEOWNS project is creating a new, and possibly revolutionary, way to distribute the wealth generated by staking. The entire reward pool is fixed, and 50 million WEOWNS will be distributed on a stake weighted basis to remaining qualifying participants at the end of each six-month period, according to a published schedule. WEOWNS provides an alternative to traditional staking platforms that give no guarantee that the total amount of rewards for participating will ever exceed initial investments.
WEOWNS Reward Distribution Details
The 200 million WEOWNS in the reward pool will be distributed over the course of four six-month periods for a total of two years on the dates below:
|PERIOD||WEOWNS STAKING REWARDS PROGRAM DISTRIBTION DATES||AMOUNT OF STAKE REWARD WEOWNS DISTRIBUTED|
|Period 1||October 29, 2021||50,000,000|
|Period 2||April 29, 2022||50,000,000|
|Period 3||October 29, 2022||50,000,000|
|Period 4||April 29, 2023||50,000,000|
WEOWNS: A Crypto Asset backed by Continual Transactions and Participants
As it continues to be used, WEOWNs are destroyed in the process of transactions and by staking rewards. This means that for every WEOWN created through the network, another one will be destroyed at the same time. The entire staking reward pool is fixed and will be distributed on a stake-weighted basis only to remaining qualifying participants at the end of each six-month period.
In the world of cryptocurrency, there are many different ways to earn a reward. Staking WEOWNS means locking them up in order to receive more of the coins. The reward one receives depends on how many coins are locked away by other people who are also staking their coins.
To qualify for rewards from staking WEOWNS, they must be deposited into an eligible wallet that supports staking and not withdrawn during the period of time when they were active on the network.
Weownomy offers an opportunity for WEOWNS holders to earn more through their stake by calculating how much they stand to receive based on different time periods. The longer the period, the higher your reward will be but you need to make sure that you have enough WEOWNS in your wallet for this type of long-term investment strategy.
The only requirement for a qualifying wallet is that it must have over 1 WEOWNS in it on its own or combined with other wallets that also qualify.
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WEOWNS Liquidity Providers Rewards
WEOWNS is a yield-bearing asset that allows holders to passively generate income through the process of staking their tokens. WEOWNS will generate revenue from two sources: 1% trading fee generated by the UniSwap decentralized exchange where it is listed; 5000 WEOWNS (represented in USD or any currency) is what is provided monthly to liquidity providers on UniSwap.
The idea behind WEOWNS is simple: if one does stake tokens, they stand to receive stake rewards in the form of ETH and/or WEOWNS tokens for doing so. For example, if one does stake 100 WEOWNS tokens using (ETH/WEOWNS liquidity pool) for six months, in return he/she gets rewarded 5,000 WEOWNS tokens (depending on the current price).
Go to ETH/WEOWNS liquidity pool and click on +Add Liquidity in the top right
The Program begins on Oct. 25, 2021 at 3 p.m. Eastern Time.
WEOWNS and the Staking Reward Program
WEOWNS is a Proof of Stake (PoS) token that provides holders with passive income on the Ethereum network. This means that users can lock up their WEOWNS tokens in order to receive rewards for staking them.
WEOWNS Token global investors can provide liquidity to ETH/WEOWNS liquidity pool in equal proportion on Uniswap (V3) as follows:
1) 100% ETH/WEOWNS liquidity pool staking rewards go to investor for a minimum of 30 days
2) Whitelist your address
3) An investor can Open WeownomyPay Account to exchange WEOWNS into xZAR tokens.
WEOWNS to Integrate xZAR Stablecoin for Transactions
WEOWNS will officially use xZAR South African stablecoin pegged 1:1 with South African Rand (ZAR) for transactions. The use for xZAR will start initially with the 30,000 co-owners who will exchange WEOWNS into xZAR tokens.WEOWNS Users will be able to convert it back into Rands (ZAR) via AltCoinTrader.co.za, South Africa.