WOW EARN, established in 2022, focuses on developing crypto wallets and crypto asset mining services, providing users with a smooth Web3 trading experience. Its goal is to create a secure, diversified, and user-friendly Web3 platform.
Table of Contents:
– WOW EARN launches EVM-compatible chains and plans to achieve interoperability with 10 major chains.
– Launches a wallet that provides one-stop service for crypto asset management.
– Building a digital asset trading ecosystem around WOWCoin.
At the end of last year, DeFi mining platform WOW EARN announced the launch of the EVM-compatible Layer 1 chain, WOW EARN Chain, which adopts the Hybrid Proof of Stake (HPoS) consensus mechanism. It can process over 2000 transactions per second, with an average block time of 3 seconds. The launch of WOW EARN Chain marks another milestone for this startup crypto project, officially entering a new phase of building the WOW EARN ecosystem.
In June of last year, WOW EARN announced the completion of a $30 million Series A financing round. Supporters of this round of financing include Pinnacle Innovations Capital, Blue Horizon Ventures, Ascendant Growth Partners, Nexus Pioneers Capital, and Quantum Leap Ventures. The financing was used to strengthen WOW EARN’s vision of democratizing crypto asset mining, enabling users to enter the crypto world conveniently and securely. According to official sources, the number of registered users had exceeded 1 million as of November last year.
As a decentralized public chain, WOW EARN supports Web3 developers to develop applications on the chain, and all users can read, send, and trade on the network. It adopts the Hybrid Proof of Stake (HPoS) consensus mechanism, which combines Proof of Equity (PoE) and Proof of Stake (PoS). This hybrid model ensures a balance between security, speed, and cost-effectiveness, reducing transaction costs while maintaining competitive transaction speeds. In addition, WOW EARN supports meta-transactions, allowing users to gradually reduce the required gas fees, with the network bearing the reduced costs. The meta-transaction feature plays an important role in reducing the cost of migrating decentralized applications (dApps) for developers and effectively reducing the costs borne by dApp users.
WOW EARN Chain is based on the EVM network, supporting smart contracts on Ethereum and possessing the ability to process high-performance transactions. Its computation engine is compatible with the Ethereum Virtual Machine. With this compatibility support, developers can easily build and deploy decentralized applications (dApps). This compatibility facilitates seamless integration with the wider Ethereum ecosystem, enhancing the practicality and attractiveness of the chain. WOW EARN Chain will also continue to improve Ethereum’s efficiency by integrating Layer 1 expansion solutions, aiming to promote the development and improvement of the Ethereum ecosystem by providing additional support.
WOW EARN Chain is not limited to its native functionality. According to WOW EARN, it will support 10 different public chains in the future, including Base, OKX, Velas, zkSync, Gnosis, Algorand, Doge, Cronos, Klaytn, and Near. These integrations have been carefully selected to enhance various aspects from liquidity and security to scalability and transaction efficiency. Currently, assets such as Bitcoin, ETH, and stablecoins can be bridged to the WOW EARN network. The execution process involves locking a certain amount of tokens on the originating chain and creating an equivalent amount of tokens on the WOW EARN Chain. In addition, WOW EARN welcomes and is optimistic about developers creating more decentralized cross-chain solutions.
In summary, the characteristics of WOW EARN Chain are mainly reflected in the following three aspects:
– Speed: WOW EARN Chain has a transaction processing capacity of over 2000 transactions per second, with an average block time of only 3 seconds. It is designed to handle a large number of transactions.
– Innovative consensus mechanism: The Hybrid Proof of Stake (HPoS) establishes an environment of mutual benefit for miners and users through advantages such as low transaction costs, low latency, and high-concurrency transactions. It supports 21 validation nodes, ensuring a decentralized and efficient verification process.
– Sustainable economic model: WOW EARN creates a self-sustaining economic cycle within the ecosystem. The native token, WOWCoin, serves as both gas fees for transactions and incentives for staking, providing users with a convenient, fast, and low-fee public chain experience.
WOW EARN Wallet was launched on May 29, 2023, and is available on both Google Play Store and App Store. In addition to being a tool for managing funds and transactions within the WOW EARN ecosystem, this crypto wallet has multiple functions and is referred to as an application that provides one-stop service for crypto asset management. Through this platform, users can enjoy various integrated basic functions in one place, allowing them to easily and efficiently manage their digital assets.
WOW EARN Wallet supports over 100 payment methods in more than 150 countries and regions worldwide. Currently, it supports multiple public chains such as Bitcoin, Tron, Ethereum, and Polygon, as well as nearly a hundred digital assets. To attract more users, WOW EARN Wallet provides airdrop facilities, allowing users to earn WOW coins as rewards using the wallet. Additionally, users have the opportunity to explore investment opportunities and earn rewards on the WOW EARN platform. Users can increase their income and expand their network in the crypto community through the incentive-based referral program provided by WOW EARN Wallet.
Furthermore, WOW EARN Wallet offers over 20,000 built-in decentralized applications (dApps) from various major networks, allowing users to explore and participate in various Web3 applications directly from the wallet. With support from WalletConnect, users can easily connect to other dApps for various transactions and operations, providing opportunities to participate in various DeFi projects, explore the NFT market, and join decentralized social networks.
In terms of security, WOW EARN Wallet provides multiple identity verifications, striving to protect user privacy and security. Access to wallets and assets is only granted to authorized users through facial recognition and biometric identification technologies. Additionally, the wallet allows users to have full control over their assets. Private keys are stored in encrypted form on users’ local devices, and password settings and passphrase features are provided to enhance user security.
WOWCoin (WOW) is a token issued jointly by the WOW EARN community and developers. As a governance token, it plays an important role in WOW Metaverse ecosystem construction and transaction execution. The total supply of WOW is 1 billion tokens, adopting a deflationary model, with 500 million tokens (50%) allocated to the mining pool, 100 million tokens (10%) owned by the WOW EARN team, 150 million tokens (15%) used for business development, 200 million tokens (20%) to be distributed to private institutions, and 50 million tokens (5%) for community incentives.
WOW EARN is also building micro-trading services, aiming to lower the threshold and risks for users and improve the operability of their participation in the market. WOW EARN platform plans to enable WOW Coin to be used to offset micro-trading fees, further enhancing traders’ experience and earnings, as well as promoting the circulation and use of WOW Coin. In addition to micro-trading, WOW EARN plans to launch more services and features, all of which will contribute to the creation of a complete digital asset trading ecosystem, providing users with a wider range of convenient digital asset trading experiences.
In the future, WOW Coin is expected to become the universal currency for WOW Metaverse and other game projects developed by the WOW EARN community. In addition to community governance, according to the project’s plan, its future application scenarios include digital asset transactions such as NFTs and game items, purchasing ad spaces and sponsoring events for advertising promotion within the platform, financial services such as lending, wealth management, and insurance, gifting and tipping in social scenarios, and trading virtual assets such as land, buildings, and artwork.
According to the roadmap, WOW EARN has gradually completed various plans, including reaching a million registered users and building the WOW Metaverse. In the first quarter of this year, WOW Coin is expected to be listed on decentralized and centralized exchanges, bringing WOW EARN closer to its vision.