World Mobile Token Describes Itself As

World Mobile Token (WMTX) is the utility token of the World Mobile network, a decentralized mobile network built on World Mobile Chain. The network aims to address the issue of global connectivity through a sharing economy model, providing mobile coverage and internet access.

Project Function

The World Mobile network offers a decentralized alternative to traditional mobile and internet service providers. Key features include:

• Global Internet Connectivity: Utilizing blockchain technology and a sharing economy model, the network extends mobile and internet services globally.
• Decentralized Operations: The network consists of over 13,685 nodes and leverages community participation to maintain its infrastructure.
• Daily Usage Metrics: At the time of writing, the network reports over 1.6 million unique daily paying users.

Token Utility

WMTX serves multiple functions within the World Mobile ecosystem:

• Transaction Payments: Used to pay for network services, including calls, texts, data sharing, streaming, and internet browsing.
• Staking and Node Operations: Nodes stake WMTX to secure the network, validate transactions, and provide operational integrity. Stakers are rewarded in WMTX for their contributions. Rewards are not associated with Uphold Rewards Center.
• Incentive Mechanism: The token is used to incentivize participation across various roles within the network.

Tokenomics:

• Node and Staking Rewards: 29% 
• World Mobile Foundation: 18%.
• Co-founders: 17.75%.
• Public Token Sale: 10%.
• Partnerships: 7.85%.
• Advisors: 5.9%.
• Incentive Rewards: 5.5%.
• Private Token Sales: 2.5%.
• Community Allocation: 2%.
• Team: 1.5%.

About the Founder

The project is led by Micky Watkins, who serves as Founder and CEO. Watkins has a history of founding and leading telecommunications startups, as well as experience as an investor in web2 ventures.

Risks of WMTx

Like an investment in other crypto assets, there are some general risks to investing in WMTX. These include:  (i) volatility risk and liquidity risk, (ii) short history risk, (iii) demand risk, (iv) forking risk, (v) code defects, (vi) regulatory risk, (vii) electronic trading risk, and (viii) cyber security risk. For additional information of these and other general risks associated with crypto assets and Uphold’s platform, please refer to the Risks Specific to Holding Digital Assets statement.

In addition to these general risks, an investment in WMTX is subject to the following specific risks:

• WMTX operates using smart contracts, which have an association with vulnerabilities and security breaches. Despite undergoing successful audits by well-regarded third-party entities, it is essential to acknowledge the existence of inherent risks. 

We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with WMTX. Investors should conduct their own research and perform their own assessment before trading any crypto asset to determine the appropriate level of risk for their personal circumstances.

The WMTX community and World Mobile Token founding team are not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of WMTX have no recourse to the WMTX community, World Mobile Token founding team, or Uphold if WMTX declines in value for any reason.

Changes to applicable law may adversely affect the use, transfer, exchange, or value of any of your crypto assets, and such changes may be sudden and without notice.

Uphold’s Evaluation Process

Prior to listing WMTX on the Uphold Platform, Uphold performed due diligence on WMTX and determined that WMTX is unlikely to be a security or derivative under relevant securities legislation. Uphold’s analysis including reviewing publicly available information on the following: 

• The creation, governance, usage, and design of WMTX, including ensuring the source code is open-source, audited and peer reviewed, security, and roadmap for growth in the developer community. 
• The supply, demand, maturity, utility, and liquidity of WMTX.
• Any marketing materials put forward by the WMTX social team including on, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.
• Material technical risks associated with WMTX, including any code defects, security breaches and other threats concerning WMTX and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them.
• Legal and regulatory risks associated with WMTX, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of WMTX.