we hosted an amazing AMA with Wicrypt on the 12th of November
And here we will put some of the best questions:
Q1. Can you introduce yourself to our community?
My name is Toni Dada. I am the COO and I have over 14 years experience in the Telecoms and Fintech space leading growth for the two biggest Telecoms companies in Nigeria MTN and Etisalat.
My team has a strong engineering and business background. Our founder and CEO is Aronu Ugochukwu who founded Xend Finance, the first DeFi project from Africa. Our CTO, Chuwkuemeka Nweke is a skilled blockchain engineer and leads our blockchain engineering team. We have our marketing and business teams in Nigeria, US, India and Chinese.
Q2. Can you briefly tell us about Wicrypt ?
Wicrypt is Decentralized mobile internet sharing and monetization network. Wicrypt has created a smart Wi-Fi network infrastructure that runs on a decentralized network of micro-nodes powered by the Wicrypt OS(operating system), giving anyone the power to act as a micro internet service provider.
The Wicrypt protocol allows anyone to share their WiFi with others & get paid for doing it!
Wicrypt Hotspot Creators mine $WNT when sharing their WiFi .
Q3. Let’s now talk about the milestones you have achieved so far and about your upcoming plans?
Major achievements and milestones
Wicrypt has built its own hardware or device
Wicrypt has built its own Operating System called Wicrypt OS
Wicrypt has acquired over 15,000 real users
Wicrypt has its mobile app on Android and iOS
Wicrypt is backed by the Nigerian Communication Commission (NCC)
This is our roadmap link: https://wicrypt.com/roadmap-2021.html
Q4. Every project has a story behind their name, Can you tell us more about the story behind this? Who are the team behind this project? can tell us their background?
Team: https://medium.com/wicrypt/introducing-the-wicrypt-exec-team-edca2eba903c
Q5. NFT is one of the hottest and most sought-after topics in the blockchain space right now. Can you share your opinion on NFT with us? Do you think NFT will disrupt the current financial system? What is Wicrypt’s approach to the NFT sector ?
NFTs are a breakthrough in science. I believe that NFTs will advance bridging the gap between digital and physical things.
We are using NFTs heavily in Wicrypt to represent every single device information on the blockchain and all device data can be tracked through the NFT metadata. NFTs
Wicrypt devices are all represented by unique NFTs (Non-Fungible Tokens) on the blockchain. Data points(such as internet speed, GPS location, ISP, Connected clients) transmitted through the devices are represented on the blockchain through the NFTs in real-time on the Wicrypt block explorer. The NFTs will enable Wicrypt to create an open data network on the blockchain.
And here we will put best questions from our members and Wicrypt fans:
Q1) Wicrypt has a model of extracting the Wicrypt Token (WNT) while sharing data. How will you make this model sustainable in the long term without destabilizing your internal economics? Besides this, are there other ways to obtain $WNT passively? What can you tell us about this?
Ways to ensure that we don’t distabilize our internal economics by inflation:
Staking WNT before you have access to start mining
Buy and burn technique from revenue generated by Wicrypt. Wicrypt generates revenue from either charging a monthly subscription or charging 10% commission on revenue generated when a host shares WiFi. We use a percentage of this revenue to buy back and burn tokens
- Users can also obtain $WNT passively when they connect to Wicrypt hotspots as clients. WNT is used to incentivize clients to ensure they keep connecting to Wicrypt – enabled devices
- Users also earn $WNT by referring other users
- Users earn $WNT by staking their existing WNT to earn higher yield
Q2) WiCrypt will offer to users the option to purchase a preconfigured Wicrypt mobile device, can you tell us more about this devices and how will they exactly work? What are the benefits of having one and provide connection with it instead of our cellphones? How much will they cost?
🔶 Users earn money by sharing their internet data with these devices
🔶 Freedom to decide your own rates for creating a hotspot network
🔶 Put a limit on the data usage & time
🔶 Get customer feedback & run ads of your business
🔶 Clients also mine WNT for using the hotspot network. This means the users connecting also get incentivized for using your devices
🔶 Hosts that create Wicrypt hotspots mine WNT (Wicrypt Network Tokens). WNT is the native token of the network
🔶 Wicrypt is location and ISP agnostic. This means it can work anywhere with any Internet service provider
Difference between Wicrypt devices and Cellphones
🔶 Normal cellphone batteries get drained even when only one or two devices connect to the hotspots.
🔶Our devices are better to be used because they support over 50 concurrent clients.Our devices also support a unique operating system called Wicrypt OS which provides the following benefits that mobile phones cant.
🔶Features of the OS:
- The Wicrypt OS can improve browsing speed and reduce bandwidth used in browsing especially in remote areas with poor internet service
- The OS now supports real-time location for each device
- The OS supports customized landing pages and syncs seamlessly with the web dashboard
4.The OS supports multiple clients and handles concurrency much better than the previous version - The OS allows mining of WNT (Wicrypt Network Tokens) to happen seamlessly on the device
- The OS supports VPN capabilities to ensure privacy when surfing the web
🔶Devices cost $1,000 for the Lynx and $1,500 for the Spider. There are 15,000 devices available for the first public sale and this 15,000 devices will have exclusive access to mine up to 10% of overall WNT which is 20,000,000 WNT. Each device is also an NFT so the cost includes an NFT and a physical device shipped to your address
Q3) Wicrypt is “The Smart WiFi Network Powered By You — the best and easiest way to create a hotspot network”. Is this truly possible with #Wicrypt? How? How we can access all of this and how this can be achieved?
To access this smart WiFi network you need to own a Wicrypt device. This devices give you the capability to create an internet hotspot for other people while you charge them for the service and earn. As you share your WiFi through these devices, you also mine $WNT, the Wicrypt Network tokens. Owners of these devices can also do the following
🔶Users earn money by sharing their internet data with these devices
🔶 Freedom to decide your own rates for creating a hotspot network
🔶 Put a limit on the data usage & time
🔶 Get customer feedback & run ads of your business
🔶 Clients also mine WNT for using the hotspot network. This means the users connecting also get incentivized for using your devices
🔶 Hosts that create Wicrypt hotspots mine WNT (Wicrypt Network Tokens). WNT is the native token of the network
🔶 Wicrypt is location and ISP agnostic. This means it can work anywhere with any Internet service provider
Q4) On on of your previous AMA’s, you mentioned that Wicrypt started minting its own NFT. Can you provide us any updates about your upcoming NFT? Do you have any samples or sketches? When do you plan to announce and release your NFT series?
- Wicrypt devices are all represented by unique NFTs (Non-Fungible Tokens) on the blockchain. Data points(such as internet speed, GPS location, ISP, Connected clients) transmitted through the devices are represented on the blockchain through the NFTs in real-time on the Wicrypt block explorer. The NFTs will enable Wicrypt to create an open data network on the blockchain.
Our NFT drop campaign will commence on Coinmarketcap within a week and the sketches will be revealed.
Q5) What mechanism is in place to reduce Wicrypt data costs by more than 50% while providing resellers with a 90% profit? Please also talk about user security against hackers, thank you
- When a Wicrypt host purchases data in bulk, the cost reduces by over 60% and this gives the host massive gains when he or she resells the data through the Wicrypt network.
Q6) do you own any of
- Telegram community
- YouTube channel
- Tiktok channel
- Location
For this project? Where can we learn something? Please share the link with us.
Twitter https://twitter.com/wicrypt
Facebook https://www.facebook.com/wicrypt/
Telegram https://t.me/wicrypt
Telegram Announcements https://t.me/wicryptann
Instagram https://www.instagram.com/wicryptnetwork/
Substack https://wicrypt.substack.com/p/coming-soon
LinkedIn https://www.linkedin.com/company/wicrypt/
Medium https://medium.com/wicrypt
Reddit https://www.reddit.com/r/Wicrypt/
Discord https://discord.gg/xShQkSZU7v
Q7) Can you give an overview of your Tokenomics, and the UTILITY of Token?
Utilities of $WNT
- Staking: Wicrypt hosts will need to stake Wicrypt Network Tokens (WNT) to become active hosts that can mine WNT when they provide Wi-Fi connection to users. Staking WNT helps to prevent bad actors from joining the network
- Voting rights or Governance : WNT holders will be able to perform governance actions to control different parameters that determine the operational structure of the network
- Airdrop Reward: WNT is used to reward hosts that provide active hotspots with high uptime. Clients get incentivized with WNT when they connect to multiple hosts for a specified period of time and have consumed a certain amount of bandwidth. 20% of overall network tokens have been allocated for mining rewards for hosts while 5% have been allocated to reward clients. Rewards and incentives helps to create a large network effect which leads to fast adoption
- Payment for service or Product/Payment for ads: Businesses are allowed to place ads on the Wicrypt Network. Payment for the ads will be done WNT
- Gas/Transaction Fees/Discount on Wicrypt fees: Payment for internet connection with WNT gives discounts on fees
- Discount on Payment for Wicrypt Devices: Wicrypt devices can be purchased with WNT at a discounted rate
Tokenomics is in deck: https://docsend.com/view/6qi7w43r4pf7cgdf
Q8) How can users adcquire WicryptOS Smart Routers and have high speed connectivity access?
Users can acquire our smart routers from our website soon.
Visit https://wicrypt.com/product.html
Purchase of devices will commence very soon
Q9) Regarding the possibility of extracting $WNT tokens while sharing data, how is this process and what mechanism do you use to determine and quantify the shared data?
We have built a mathematical model that explains how this will work. The model will handle the distribution of the reward based on certain governing parameters. We will be releasing this document next week. Please join our channels to learn
Q10) Can you introduce your team with us? what are their qualification and experience?
Here is the team introduction
https://medium.com/wicrypt/introducing-the-wicrypt-exec-team-edca2eba903c
And this was the end of our AMA with wicrypt.
If you have any other questions you can ask here:
ℹ️ℹ️ Useful links ℹ️ℹ️
Website :- https://wicrypt.com/
Twitter :- https://twitter.com/wicrypt
Facebook :- https://www.facebook.com/search/top?q=wicrypt
Telegram official community : http://t.me/wicrypt