Enhancing WorkQuest’s Tokenomics: A Strategic Move for Future Growth
WorkQuest is excited to announce a significant update to our tokenomics, aligned with our new roadmap and designed to propel us towards our long-term vision. In this update, we’re increasing the total token supply of our native token, $WQT, to 500 million tokens. This expansion, coupled with strategic allocation locks, signifies a strategic move to fortify our project development efforts and facilitate additional fundraising opportunities.
Benefits of the Tokenomics Update:
- Enhanced Liquidity and Market Dynamics: With a total token supply of 500 million WQT, including a circulating supply of 100 million, we’re enhancing liquidity in the market. This increased liquidity not only benefits our existing token holders but also attracts new investors, fostering a vibrant ecosystem around the WorkQuest token.
- Support for Project Development: The allocation of tokens across various funds, including the Reserve Fund (50 million WQT), Staking Fund (85 million WQT), Future Investment Round (103.65 million WQT), WQT Team (40 million WQT), WQT Liquidity (70 million WQT), Marketing (60 million WQT), P2P Insurance Fund (30 million WQT), and WQT Ecosystem and Partners (50 million WQT), provides us with the resources needed to accelerate project development. These funds will be strategically utilized to enhance our platform, expand services, and implement innovative features, driving progress towards our roadmap.
- Facilitating Fundraising Initiatives: The gradual unlocking of token allocations over the next three years creates opportunities for additional fundraising initiatives. With tokens reserved for future investment rounds and strategic partnerships, we can secure the capital required to fuel our growth trajectory and unlock new opportunities for expansion and innovation.
- Alignment with Long-Term Goals: Our decision to update the tokenomics aligns closely with our long-term strategic objectives. By carefully managing the token supply and distribution, we aim to create a stable and sustainable ecosystem that fosters trust and confidence among our community members, investors, and partners.
All token allocations (including: investors, reserve fund, marketing, team and etc.) have been successfully locked. The lock-ups can be checked here:
https://bscscan.com/tx/0xccd0c613db1b6416d311d25b4c30b7fbde02644d43d6a3a40f8811c3fe0d6a6c
The first unlock of the tokens will take place in a month, therefore, circulating will not be affected at all during 30 days.
In summary, the update to WorkQuest’s tokenomics represents a significant milestone in our journey towards building a robust and resilient ecosystem. With a clear allocation strategy and a total token supply of 500 million WQT, we’re well-positioned for sustainable growth, innovation, and prosperity. We’re excited about the opportunities that lie ahead and remain committed to delivering value and driving positive impact for all our stakeholders. Stay tuned for further updates as we continue to make strides towards our shared vision of empowering the future of work.
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