WONO (WONO) ICO Review – ICO Token News
WONO is a decentralized P2P (peer-to-peer) platform for exchanging property and services. Thanks to the Ethereum blockchain and the Interplanetary FIle System (IPFS), the platform and community are decentralized, which allows users to interact without needing an intermediary.
We are building a scalable platform that achieves the following:
- Builds a bridge between the virtual world of cryptocurrencies and the real world, letting users to go freelance or hire freelancers, hire or rent out cars and real estate, exchange theater subscriptions or gym memberships, and much more;
- Creates a horizontally structured market and redistributes income from middlemen directly to service providers, asset owners, and community members;
- Offers a whole new level of deal transparency and access to information for each transaction, thereby generating trust among market players;
- Eliminates currency exchange fees and international transaction costs, reducing travel and business trip expenses;
- Solves the problem of taxation in sharing economy thanks to the use of WONO1 tokens;
- Introduces new blockchain deal formats, including deal chains and deals with trusted payments;
- Strengthens the role of the community in system regulation using crowd deal insurance and crowd deal arbitrage.
What Is WONO?
WONO offers the environment for hire and rental tangible and invisible assets, as well as ordering and performing services based on Ethereum blockchain and the Interplanetary File System (IPFS). The project’s aim is to arrange ideal conditions for a convenient exchange between users with minimal transaction costs, regardless of location.
WONO is a bridge between the cryptocurrency community and the real world. It allows consumers to use cryptocurrencies for physical asset rentals and the hiring of freelancers.
In most countries, tokens are qualified as digital assets, not money. Thus, all tokens earned on the WONO platform are not taxable until they are converted to fiat. That sets WONO apart from traditional sharing services where asset owners are obliged to pay taxes. WONO also has a huge advantage over existing blockchain-based sharing services that are focused on a single market segment (e.g., houses or cars), where users have to exchange earned tokens for other platforms’ tokens or fiat money.
WONO focuses on the following:
- Space sharing: We combine P2P rentals (e.g., Airbnb) with the home-swapping concept;
- Transportation sharing: We use the Turo/Getaround model where a person can hire or rent out a vehicle for any desired duration;
- Miscellaneous assets sharing: Users can hire and rent out any assets in their possession (e.g., gym memberships, gadgets, instruments);
- Services sharing: We combine the Freelancer/Upwork model for remote jobs and TaskRabbit for micro jobs.
WONO’s key feature is using blockchain technology for the escrow function in all deals among users. We can thus ensure transparency of all transactions and guarantee that all commitments will be met. The marketplace’s “fuel” is the WONO token which serves for the following:
- All P2P payments on the platform as an internal currency;
- Transaction security as a reserve;
- Crowd insurance and crowd arbitrage.
Here and elsewhere:
- All sums on the platform are calculated in tokens;
- All calculations do not include mining transportation expenses;
- User: a registered user of the platform. Each User profile is stored as an entity in the WONO User’s Ethereum smart contract;
- Asset: the physical asset or a service offered by the User and stored in the Ethereum network as a smart contract;
- Deal: the conditions of an Asset rental and payment management mechanism stored in the Ethereum network as a smart contract;
- Reputation and Rating: an open field of User, Asset, and Deal entities that describes their qualities; Arbitrage: – a deal cancellation dispute mechanism using decentralized voting, stored in the Ethereum network as a smart contract;
- Commission: the platform operator’s reward;
- Customer/Vendor Security Deposit: a sum in tokens, equivalent to a commission, which is locked in a Deal until it is terminated or cancelled;
- Insurance Deposit: a sum in tokens, which is locked in a Deal by Deal Guarantors until it is terminated or cancelled;
- Deal Signing Date: the date of the Ethereum network block where the Deal was registered;
- Deal Execution Date: the moment when Deal commitments start to be fulfilled
The WONO component environment lets any DAPP developer implement his own business ideas using the WONO platform’s capabilities. WONO offers its resources for third-party start-ups and lets them improve their businesses using blockchain technologies, boosting the liquidity of their market segments and cryptonomics at large. The WONO environment consists of the following three main components:
- WONO PROTOCOL: a set of decentralized apps (Ethereum smart contracts as DAPP backend) implementing the WONO business model;
- WONO API: accelerator (DAPP caching service) of the WONO Protocol;
- WONO CLIENT: official client Web application (frontend DAPP) used to work with the WONO API and WONO Protocol.
WONO is a utility token based on the ERC20 standard. It is used for all transactions among the participants of the WONO ecosystem (the WONO platform and DAPPs, based on the WONO API). WONO can be used for the following activities:
- Paying for Asset rent or services;
- Paying platform fees;
- Crowd deal Insurance;
- Crowd deal arbitration
Any Ethereum wallet can be used to store WONO keys. The key factors for the growth of ICO token rates are the increase in the number of assets that are placed on the WONO platform and growth in the number of users. There is the opportunity to spend tokens inside the platform, as long as engagement in the crowd deal insurance and crowd deal arbitration supports the closed cycle of token circulation inside the ecosystem.
If you want to know about other ICOs currently running in the market then check the ICO list.
- Alexander EsaulovCEO, founder
- Timofey EsaulovBusiness development manager
- Andrey ChepelevCOO
- German SolodovCMO
- Arthur LavrischevFullstack Developer
- Artem NikonovFullstack Developer
- Tapendra SheeFullstack Developer
- Kirill PyrevInvestor Relations
- Anton GuljakinUI/UX Designer
- Maria PolzikProject Manager
- Alexey KnizhnikovCommunity Manager
- Julia LarionovaSMM Manager
- 1Q1 2018
Coming up with the idea and forming a business concept
- 2Q2 2018
Private Pre-Sale, preparation of vital business documents (Blue Book, Pitch scenarios, planning the business structure development, publishing an interactive mock-up of the project, public Pre-Sale.
- 3Q3 2018
Establishing the structure of the business, running the ICO, placing tokens on crypto stocks, audit and requirements testing of the WONO PROTOCOL: economic model / security testing
- 4Q4 2018
WONO PROTOCOL publishing, launching the technical support services, forming a preliminary strategy of the product development, audit and requirements testing of WONO API: product model / security testing / high load
- 5Q1 2019
Launch of the WONO API, setting final product strategy, audit and requirements testing of thе WONO CLIENT: product strategy / product model / security testing / high load
- 6Q2 2019
Launch of the WONO trial version for the test Ethereum network, start of the preliminary marketing campaign, start of an aggressive PR-campaign.
- 7Q3 2019
Trial launch on the market, user migration from the test network to the Ethereum network, preparations for the massive user registration
- 8Q4 2019
Scaling the project, launch and expansion of the public marketing campaigns
- 9Q1 2020
Launch of the partner program, product strategy updates, project growth support
- 10Q2 2020
Analysis and further business growth