Posted by Ambire Wallet on January 28th, 2022
TL;DR:
🔥 The $WALLET token launch is here 🔥
When: Saturday, January 29, 2022, 10:00 (UTC)
Where: Huobi Primelist public sale event with preferential 0.03 USDT price
Promised in the 2022 Roadmap for Ambire Wallet post, the listing for the $WALLET token is now officially scheduled for the 29th of January 2022.
Huobi, a leading crypto exchange that trades globally more than 400 types of crypto assets, will kick-off the launch with a Primelist event that will start on Saturday, the 29th of January 2022 // 10:00 (UTC).
The available supply for the Primelist event will be 6 million tokens (0.6% of total 1B $WALLET), with a 0,03 USDT price.
The token will be listed on the exchange after the Primelist event, opening with a WALLET/USDT pair, and liquidity pools on decentralized exchanges will be opened soon after the event as well.
How to get in on the action
The $WALLET coin is already created on the Ethereum mainnet, you can check it out on Etherscan at this address.
For the Huobi event, 6,000,000 tokens will be available for purchase at an early-user incentive rate of 0,03 USDT through the Primelist platform on the January 29th event, where anyone can participate through either one of 2 methods:
1. Registering via Queue
- Sign up on Huobi Global and complete the verification process before 10:00 (UTC) on Jan 29 (if you have not done so already). There is no trading threshold for passionate users who want to participate in the Primelist Special Edition.
2. Register via HT Holding
- Sign up on Huobi Global and complete the verification process before 10:00 (UTC) on Jan 29 (if you have not done so already).
- Have 7-day minimum average holdings of 300 HT between 16:00:00 on Jan 21 (UTC) and 15:59:59 on Jan 27 (UTC), during which you can check your HT holdings at any time on the event page. In addition, ensure you have the minimum USDT holdings required to place orders according to the following table. Please note that all payments will be made in USDT.
What is $WALLET
$WALLET is launched on Ethereum as an ERC20 token, with the plan of being bridged with the BSC and Polygon networks later on.
It was created for the community of Ambire Wallet, and in 6 months after the token launch it will also function as the governance token for the Ambire Wallet protocol, through the WalletDAO that will be created at that time (Q3 2022).
In addition to its governance utility, the token will also be used to reward Ambire Wallet users. The first example of such rewards is the early user continuous airdrop that has been live since the Ambire Wallet launch in December of last year. Gas rebates or referrals are also considered for rewards.
$WALLET tokenomics and distribution
The overall token supply for $WALLET is of 1 billion, having the following distribution model:
- 12.7% for early backers with 1-year linear vesting (i.e. more tokens unlock with every block, and recipients can claim manually when they want to);
- 10% for the Ambire team with 3-year linear vesting;
- 10% for $ADX stakers, distributed over 18 months as additional staking rewards;
- 30% for early Ambire Wallet users and stakers, distributed over 4 years;
- ~35% for the WalletDAO;
- ~2% for initial liquidity and marketing activities: a total of 6M (0.6%) will be part of the initial public sale on Huobi
What’s next for $WALLET
After the Primelist event ends, the token will officially be listed on the Huobi exchange on January 29th and it will be available for trading.
Then on, $WALLET will continue its journey through the cryptoverse: it will be traded as any other token, but what’s more, besides its capacity as a governance participation prerequisite for Ambire Wallet (and its voting power according to distribution inside the WalletDAO), $WALLET can also become an instrument of accruing value through the staking mechanism that will be in place (one pool will be available, where stakers will receive xWALLET in exchange for staking $WALLET).
And don’t forget, the distribution of the early user continuous airdrop will go on until 2024, so if you’re not already earning $WALLET rewards, you still have a chance to get in the game and become a $WALLET holder.
Meanwhile, starting Monday, the 31st of January, rewards already accrued in the Ambire Wallet accounts that have a minimum 10$ value balance will be eligible for claiming.
Find out more about the $WALLET token, early rewards program, staking mechanism and other details from the Ambire Wallet Whitepaper.
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