To WeStarter users and WAR holders
This is the first time the WeStarter developer team talk to you. We are really excited.
Since February 2021, when we Launched the Dapp and first project subscription, WeStarter has gone live with 17 subscription pools in 2 months, and a total of 10 projects have received initial funds and completed their cold starts on HECO. In total, over $954 million of active funds have participated in previous subscription campaigns. The platform has now established significant scale.
When WeStarter was announced on HECO, it became the first choice for developers to launch their initial swap. As time progressed, WeStarter was recognized by more and more developers, and as of today, the number of project applications has reached 63. The increase in number will not make us increasing the frequency of assets launching, but rather customize the selection criteria to be more strict. We hope to pick the most competitive and promising eco-projects for HECO users.
Based on this, we have decided to update our asset selection criteria. Projects that apply after May 10 will need to disclose more information, including but not limited to all basic information and details about their company, the authentic identity and the professional background of the team, and the business model, etc. If you are required to apply for an initial swap on WeStarter, please get in touch via the application form on our official website.
Without further ado, let’s talk about the application scenarios of the WeStarter governance token WAR that you are most interested in. Thank you to those of you who participated in the earliest WAR token swap and holding it ever since, you will be rewarded for your trust and faith in the WeStarter.
We have a discreet and long term development plan for WAR as a whole, and the following are the WAR application scenarios:
1. Open Farming function to offer WAR rewards for liquidity providers.
We reached a partnership with MDEX to increase WAR liquidity mining rewards, users who stake WAR-HT DLP at MDEX can get both MDX and WAR rewards, the rewards will be ongoing (unless there are major adjustments), this feature will be launched on May 9.
2. Launch LPT(Liquidity provider token) Pool
Subsequent to the whitelisted Pool, Public Pool, flash Pool and LBP Pool, we will launch the LPT Pool, users can participate in the LPT pool by adding liquidity of WAR-HT on MDEX to swap new assets, which means the more LPT you have the more share of assets you can eventually get.
In the early stages, the LPT pool will exist with four other pools, but the allocation of assets redeemable in the LPT pool will gradually increase, and eventually the LPT pool will become the dominant form of asset subscription. the LPT Pool will go live in mid-May.
3. Eco-partnership program, establish Boxing pool
In order to support the distributors of high-quality assets and expand the usage scenarios and scope of WAR, we will increase the Boxing pool, that is to say, after the new assets launch on WeStarter IWO (Initial WeStarter Offering), users who provide liquidity for the asset and WAR will be able to get the rewards of the asset, and remarkable eco-projects can also get extra rewards of WAR. This feature will go live in late May.
4. Committee plan
We understand the limitations of team power and the importance of cooperation, so we will open the committee program in June. In this program, users can stake WAR to obtain access to a number of rights, including but not limited to decision-making and advice on project selection, as well as the right to directly recommend projects, staking is governance.
It is worth noting that in the DeFi world, all the governance modules are in the initial stage, which seems to make the transfer of information about the project more equitable, but it also has the side effect of making it less efficient as well as democratic for a small group of people.
So we will gradually turn on this feature experimentally, and the first group we will be the ones to experiment with the “beta” version first with the early investment institutions we work with, and then gradually go live when we have gained some experience.
5. Community Contribution rewards
We have a long term marketing motivation plan for community activity and the growth of new users. If you are willing to work for WeStarter, from a small message delivery or mentoring a new user, to building more consensus for WeStarter or even working with us, then please contact us and you will be rewarded with a long term WAR based on your contribution. Reward details will be announced as the marketing campaign progresses, so follow us on twitter to be the first to be notified.
The WeStarter will, in short, be developing more and more features that will allow you to get your WAR in your hands first to try and utilize it.
Thank you for your consistent support, and we look forward to working with you to advance WeStarter into a promising future.