Manila, Philippines, May 03, 2021 (GLOBE NEWSWIRE) — The DeFi sector exploded less than a year ago, and it is not higher than ever. 12 months ago, in April 2020, DeFi had around $725 million in total value locked (TVL) This was quite high at the time, although still far below its ATH, which, at one point, went beyond $1.2 billion. But, DeFi simply did not attract attention in years before 2020, partly due to technical issues, and partly due to the crypto industry’s obsession with trading and price changes.
Things started to change last year, and the crypto industry matured enough to start thinking about money in a broader way, looking for ways to earn while still keeping the coins in expectation of greater adoption and further price improvement. As a result, DeFi skyrocketed from $725 million in early April 2020 to $51.8 billion in April 2021.
Such a massive explosion brought more people, more money, and more developers to DeFi. And, with a combination of the three, more groundbreaking projects such as World Token have emerged.
What is World Token?
World Token is a new project — a unique platform that aims to combine the best tokenomics of frictionless yield protocols and deliver instant rewards and many other benefits of staking in its upcoming marketplace.
The project has a lot to offer, such as 3% transaction tax for stakers, holders, perpetual marketing and development fund, and even merchants. In fact, one of its major goals is to help build and further develop the crypto eCommerce sector, which is why it partnered with Shopping.io (SPI), which accepted it as a form of payment.
Thanks to the new partnership, the project will allow users to use its native token for purchases on some of the major eCommerce stores, including eBay, Amazon, Walmart, and others. A recent announcement even mentioned that AliExpress will be supported in due time, thus providing users to countless other merchants and providers of various goods.
Not only that, but the partnership will also give users a 2% discount, with the purchases feeding the project ecosystem’s rewards system.
What Else Can You Do with World Token?
While using World Token for online purchases is a massive use case, the project’s original goal was to offer instant rewards by combining yield protocols’ tokenomics, as well as many other benefits of staking. For example, its system guarantees that LP stakers will receive token rewards for every block, regardless of whether or not it had WORLD transactions recorded on it.
As mentioned, users receive a 3% transaction tax, which means that the growth of the project will also increase rewards, which will always remain equal to 3% of all transactions. Further down the road, the project also plans to launch a P2P exchange for ERC-20 tokens, which will allow users to easily obtain any DeFi coin and other altcoins. Best of all, with the platform being P2P, users will not have to depend on any specific payment method. They will be able to connect to others and negotiate a payment outside of the platform, in order for the tokens to be delivered via the platform.
All of this will make it much easier for new crypto users to get into DeFi, as well as the broader crypto industry, by providing convenience and security at the same time. The project is still young, and it only launched its testnet about a week ago, on March 28th. But, it already shows massive potential, and the SPI partnership is a massive milestone on its way to becoming a go-to place for purchases, payments, winning rewards, and development.
Company: World Token
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