Waves World White Paper v2
May 2019
Building an ecosystem powered by blockchain loyalty
Introduction and Vision
Waves World started when two friends who were passionate about the blockchain space decided to take a chance on running a Waves Mining Pool. The project was founded in late 2017, with the vision of supporting crypto enthusiasts and bringing the benefits of cryptocurrency to the mainstream.
Waves World has evolved from its initial vision of simply being another Waves Node, and has since grown into a community-focused Blockchain Services Organisation. Over two years later, it is now one of the foremost community-driven initiatives on the Waves platform, running a major Waves node and a wide range of supporting services. Fundamental to the project is its large, grassroots community of supporters. The Waves World token (WW) is used to incentivise and reward this community, and every element of the Waves World ecosystem is designed to drive value to its native currency and token of payment.
Today, Waves World exists to foster mass adoption of blockchain technology, advance the decentralised cryptocurrency ecosystem, and create business applications on the blockchain.
The Waves World ecosystem
Waves World was created with the intention of solving two key problems.
1. Adding value to mining
Waves’ blockchain is maintained by a Leased Proof-of-Stake system that enables ordinary users to lease their WAVES to mining nodes and receive a share of transaction fees in return (as well as Miners Reward Tokens). The more holders lease their WAVES, the more secure the network.
Waves World aims to incentivise leasing further by adding value for lessors, offering a token they could use to purchase real goods and services. Not only that, but businesses and token holders could offer their blockchain-related goods in the Waves World marketplace.
Now launched, the Waves World marketplace provides this value to both businesses and WW holders, offering goods and services for sale in return for WW and other cryptos – but also driving value into WW in the process.
2. The online advertising landscape
Social media corporations and other tech giants have been banning adverts related to blockchain and cryptocurrency, cutting off the chief form of publicity for many legitimate projects in the interest of restricting scams. Many blockchain startups now do not know where to turn for marketing assistance.
Waves World offers a full-service marketing solution, with packages that can be purchased through the Waves World marketplace. The Waves World team can help formulate a publicity strategy, create content of all kinds, and use its reward bots and social media influence to increase projects’ online reach, bringing them to new and crypto-friendly audiences. Additionally, Waves World can provide banner advertising on its web properties.
WW token
The Waves World token is the native currency of the Waves World ecosystem: the token of reward for all relevant activities.
Token information
Asset id: AbunLGErT5ctzVN8MVjb4Ad9YgjpubB8Hqb17VxzfAck
Total supply: 999,979,136 (decimals: 0)
Non-reissuable
Number of holders at time of writing: 17,768
Better Tokens verified status
Waves World qualified for Better Tokens status in March 2019, meaning that it is displayed with its logo on Waves DEX and ticker, and can be searched by name as well as asset id.
Token distribution
WW tokens were created as a means to incentivise and reward the community, including those who lease WAVES to Waves World’s mining node. Out of almost 1 billion WW tokens created, 400 million are allocated to lease payouts for the first year, with this reserve helping to bootstrap the ecosystem while the project gains revenue streams and profitability.
Waves World token airdrops to lessors began on 4 June 2018. 400 million tokens (40%) were allocated for distribution over the first year, to June 2019. Additionally, the following token holdings were reserved:
200 million (20%) marketing and bounties
150 million (15%) operation and development
150 million (15%) prudent reserve
100 million (10%) Waves World Foundation
Future allocations for lease rewards and Top 100 Club (see below) will come from several different sources and revenue streams, including (but not limited to) Marketplace sales, WW Service Sales, Sponsored Contests, Grant Funds, Top 100 Club holdings, and Reserve funds.
Major addresses owned by Waves World include:
Issuer address: 3PJfWdEzfVytHhwGngPes6kHacpZPVkqUm3
Node (leasing) address: 3P3PfgFKpfisSW6RCsbmgWXtwUH8fHAESw4
Waves node
Founded: December 2017
Address: 3P3PfgFKpfisSW6RCsbmgWXtwUH8fHAESw4
WAVES leased: 5.3 million (as of May 2019)
One of the two core strands of Waves World is its Waves mining node. This launched in December 2017, with the first public payment to lessors taking place on 25 December 2017. The record of leasing payments for Facebook can be found here. Additionally, all leasing payments are now posted on Twitter. These can be found by using the #lpos hashtag.
The Waves World node started with just 10,000 WAVES in leases, from the two founders. In the 18 months since then, it has grown to become the third largest Waves node (at the time of writing) with 5.4 million WAVES leased to it.
WW tokens are distributed to lessors every week, along with 100% of WAVES mined from transaction fees. Initially, 100% of MRT were also distributed to lessors. Following a proposal under the community governance protocol (see below), however, it was decided to use all MRT received to buy back WW on DEX to drive overall value to WW holders.
Marketplace
The Waves World marketplace is the second key element of the ecosystem. The marketplace was launched on Black Friday, 23 November 2018, and offers a wide range of crypto-themed merchandise. This can be bought for over 70 different cryptocurrencies and tokens, including WW, so that recipients have somewhere to spend their airdrops. The marketplace also offers promotional services for crypto projects and startups, and additional features such as the community governance protocol can be accessed via the marketplace for a small fee (to discourage spam submissions).
In addition to crypto, the marketplace accepts payment via PayPal so that it is not unnecessarily exclusive and maintains as broad an appeal as possible.
Affiliates
The Waves World marketplace affiliates scheme was launched in April 2019, enabling anyone to benefit by referring customers to the marketplace.
Affiliates simply need to register on the marketplace, and will receive referral links in their dashboard. If items are purchased using these links, the affiliate will receive 10% of the purchase price, paid in WW. There is also the option to gift this commission to any other registered affiliate.
Faucet
Faucets have always been an important part of the cryptocurrency ecosystem, enabling newcomers to acquire small amounts of tokens and experiment to learn more before becoming more deeply involved. Waves World has a faucet at H2OX.io. An account on H2OX can also serve as a wallet for WAVES and Waves tokens. Additionally, the service includes an integration with Telegram, so that tokens held in user balances can be sent via tipbot.
The referral link for Waves World’s H2OX faucet is: http://wavesworld.io/faucet.
Web and social media presence
Waves World has a series of websites and a strong social media presence:
Waves World website, including the Waves World marketplace
Telegram channel
Twitter stream
Facebook: Waves World fan page and Waves Platform Cryptocurrency Club
A Russian Telegram channel has recently been added and is proving popular.
Telegram tipbot
Waves World’s Telegram channel is integrated with the tipbot functionality provided by H2OX. This enables anyone to send and receive WW, WAVES and other Waves tokens within Telegram, using a low-friction hosted wallet. Users do not even need to download the Waves software or set up a desktop or mobile wallet – though for larger amounts, an external (local) wallet is recommended.
The tipbot is routinely used for tipping and giveaways, as well as bounties and other payments. Financial incentives do not need to be large to bring people together and contribute to a sense of community cohesion, and active distribution of WW through the Telegram channel is a valuable way to reward and build the community, raise awareness and thank Waves World’s user base.
Publicity campaigns
One of the major external use cases for WW, aside from the marketplace, is as a currency for publicity campaigns and competitions.
Tipbot integration with Telegram is used for Twitter promotion. Users who retweet the desired message can be rewarded in the Waves World channel in near-realtime, using WW tokens.
For more sophisticated competitions, we have successfully used Gleam.io to organise campaigns, with payouts again in WW. This campaign was run to promote crypto news and culture website www.BitcoinBulletin.org, with an emphasis on gaining Twitter followers. Total prize money was 150,000 WW tokens, at an approximate cost of $30 USD. (Total costs including promoting the competition itself were around $80.) The competition gained 1,030 entrants and resulted in 100+ additional Twitter followers for Bitcoin Bulletin, roughly doubling their following at the time.
Airdrop bot
Waves World has developed an airdrop bot to automate the process of distributing leasing payments and other rewards to WW holders. Weekly airdrops are made to lessors, totalling over 2,000 payments per week.
Millionaires/Top 100 Club
The airdrop bot is used to send daily rewards of 3,500 WW to the top 100 holders of WW (not counting Waves World as the asset Issuer, or the WW node address).
This daily airdrop started out as the Millionaires Club, which was launched in September 2018. Every holder with a minimum of 1 million WW would receive 3,500 WW per day. However, as time went on, it became harder to budget for this and the incentives structure meant that rewarding those larger owners disadvantaged smaller WW holders. Accounts that already held 1 million WW had no incentive to keep the WW they received in airdrops, and often sold them – placing constant downward pressure on the market.
The decision was taken to change the programme to the Top 100 Club. The largest 100 accounts (not including the Issuer or WW node accounts) would receive the 3,500 WW daily. This would mean that those who sold WW would gradually fall down the rankings as new holders accumulated, eventually dropping out of the top 100. The change was announced well before there were 100 millionaire accounts, so that no one would automatically be excluded and giving all the larger accounts the choice whether to aim to remain in the top 100 by retaining their daily rewards.
Community Governance Protocol
The Waves World Community Governance Protocol was launched at the beginning of 2019. This facility enables community members to submit proposals to change the way Waves World runs elements of the project (such as the rules around leasing payouts, or items listed on the marketplace), and for all community members to vote on them.
Proposals can be purchased for a nominal fee (to discourage spam) from the Waves World Marketplace. The first proposal asked the community to vote on using all MRT tokens received by the mining node to buy back WW from the open market, supporting the price and driving greater value to holders. This was accepted by the community and is now carried out whenever MRT are received.
Tx fees
It is important to give tokens as much relevance and utility as possible, and this extends to network-based (i.e. on-blockchain) utility as well as in the wider Waves World ecosystem. WW can be used to pay Waves transaction fees, with 10 WW required for a simple transfer. This nominally pegs the price of WW at 0.0001 WAVES (currently 0.02 cents), since 10 WW can always be ‘redeemed’ for a transaction on the Waves network.
Research
As an authority on blockchain, Waves and loyalty, Waves World can provide assistance and expertise to other initiatives. Early in 2019, Waves World applied for and received a grant of 2,500 WAVES from Waves Lab. This group used to operate as an ICO incubator, but pivoted and is now funding various projects that will further the wider Waves ecosystem. Waves World pitched to carry out a detailed piece of research on Loyalty programmes on the Waves blockchain.
Waves World partnered with a representative from Incent Loyalty – a mainstream loyalty programme based on Waves platform, and one of Waves’ first token sales – for this piece of work. As a grassroots crypto-world initiative, Waves World is the perfect complement to Incent, which is using bank account linking to issue rewards seamlessly to everyday consumers.
The funds received from Waves Lab were used to cover the costs of writing and research, and Waves World was able to reserve some of the total for future marketing and development, as well as direct WW purchases for WW campaigns.
Roadmap
Waves World has an active programme of development and marketing for 2019. This includes:
Loyalty-as-a-Service (LaaS)
We are creating a development kit and product for an off-the-peg loyalty system – effectively Loyalty-as-a-Service. Grassroots marketing is extremely important for blockchain projects, and large web corporations like Google and Twitter have become more cautious about advertising crypto and blockchain initiatives. To assist in specific project promotion we’ll be hosting contests with WW as prizes using Gleam (similar to the approach successfully taken for Bitcoin Bulletin – see above). We will be offering co-branding with other projects, and the ability to feature Waves projects on the Waves World marketplace. Our Referral Bot is also being upgraded, making it more sophisticated and effective.
Automated liquidity
Many blockchain startups struggle with token liquidity, as well as publicity. Waves World plans to create an automated liquidity and product ordering service for small cap projects who are looking to expand their use cases. This will build upon what we have achieved with automating MRT liquidity, and will first be applied in WW marketplace (where we will be adding several more items including a wide selection of Gift Cards, and much more). We expect that this service will add fundamental value to tokens that would otherwise have limited liquidity and utility.
Community resources
We are creating a set of resources for the Waves and wider crypto communities. Social Media influencers, How to Videos, and other value added-contributions to the community will be critical for greater understanding and adoption of the technology.
Additional plans
Waves World has a number of further plans for the future. A specific time frame is not given for these ideas, since they are either general in nature; secondary priorities until other functionality has been established; result from our overall success; or are dependent on factors outside of our control. Nevertheless, we give a commitment to exploring and implementing the following:
Adapting and changing with the evolving technology in the blockchain space.
Growing the overall WW ecosystem and the WW mining pool (bearing in mind that we cannot become overly large and therefore a centralised point of failure).
Continuing to improve the marketplace and add more variety.
Adding the WW token to more exchanges, providing wider exposure to traders.
Adding e-commerce loyalty programmes to existing businesses with WW integration.
Creating new blockchain loyalty applications for businesses.
Using Waves smart contracts to create masternodes with shared payouts.
Creating decentralised loyalty programmes for businesses, celebrities, politicians and political initiatives, NGOs and charities.
Much more.
Further details of Waves World’s 2019 roadmap can be found here.
Team
Mike Mooney
Mike is co-founder and COO of Waves World. He is Waves World’s Project Manager and its most active public face through its communication channels, especially Telegram. He is retired military and holds a Masters Degree in Science. Mike is also a former eBay Powerseller who recognises the tensions and challenges that exist in the retail space, especially for smaller sellers.
Alan Dubla
Alan is co-founder and CEO of Waves World. He brings 38 years of technology experience to the project. Alan is a cypherpunk who has taken a long-term interest in cryptocurrency and blockchain technology, and has been involved with Waves since near the very beginning. He holds a BS in Computer Information Systems, and has been a Computer Services Business owner since 1999. Alan is Waves World’s software developer and has created many of the custom tools that the project uses to leverage its loyalty programme.
Evelina Lavrovna
Evelina is Marketing & PR Director at Waves World, as well as being the founder & CEO of DeCrypto PR, a Marketing & PR agency for blockchain and crypto startups, and formerly the Head of Global Marketing & PR at Waves. She is a member of Global Women in Blockchain and Women in Blockchain International organisations. Prior to that, she promoted Pay-Me (an mPOS service in Russia & CIS) and was named Commercial Department Employee 2015, Yell.
Guy Brandon
Guy contributes as a writer and advisor to Waves World. He is a communicator and consultant who has actively worked on a wide range of crypto projects since 2014, on content and on wider strategy and tokenomics. He has been involved with Waves since before the token sale, and currently works on English-language content of all kinds. He is the founder of crypto communications agency www.Blockworm.net and co-founder of crypto news and culture website www.BitcoinBulletin.org.
Conclusion
Waves World has worked hard since its inception to build a strong and cohesive community, incentivised by the WW reward token that drives value for every meaningful activity the project undertakes. From the start, Waves World has been a grassroots initiative, with no ICO, and has grown organically over the last 18 months to become arguably the foremost community-driven project on the Waves platform.
Contact
Website: https://www.wavesworld.io/
Telegram: https://t.me/wavesworld
Twitter: https://twitter.com/bitlivewireio
Facebook: https://www.facebook.com/WavesWorld.io/