Proposal Description
We would like to add WMT to the Aada Finance protocol as a borrowable asset.
Short Summary
World Mobile aims to provide real-world solutions to over 3.5 billion people worldwide who lack fundamental necessities like healthcare, education, telecommunication and banking services. Adding the WMT token to Aada will fulfil the project’s goal of providing its users with broader financial opportunities.
Motivation
World Mobile is the first mobile network operator built using blockchain technology, a hybrid network, a sharing economy and renewable energy. It empowers communities without access to educational, financial, and healthcare services by allowing them to get everything by connecting to the Internet via digital IDs.
The project is built on Cardano smart contracts and allows anyone to participate in the network, making it even more accessible and secure. Ultimately, WM users become part of an ecosystem that provides calls, texts or data while incentivizing contributors with WMT rewards. Some prominent ecosystem partnerships that World Mobile leverages include IOHK, Sundaeswap, Muesliswap and VyFinance.
WMT is the driving force behind World Mobile’s concept of node network. It serves as an incentive for all EarthNode, AirNode and AetherNode operators. Adding the WMT token to Aada will extend the token’s utility by enabling its users to lend and borrow the asset.
- Node operators receive WMT as rewards
- World Mobile converts all customer funds to WMT
- WMT holders can stake their tokens on VyFi
- Users can provide liquidity and earn rewards on all major Cardano DEXs
Max Supply: 2,000,000,000 WMT
Circulating Supply: 243,955,714.49 WMT
Token Holders: 19,480
Number of Vaults: 34,301
Global TVL: 192,244,611.71 WMT
Market Cap: $54,717,206 (11.08.2022)
24h Volume: $851,945 (11.08.2022)
Conclusion
World Mobile connects the unconnected and banks the unbanked. As one of the most community-centric projects on Cardano, World Mobile aims to deliver a real-world solution to over 3.5 billion people. In this regard, WMT will be integral to lending and borrowing protocols like Aada.