THELOGICALINDIAN - n-a
Overview on WaBi
WABI is a cryptocurrency that accommodate an allurement for barter to advance an anti-counterfeit account offered by ancestor aggregation Walimai. Walimai was accustomed in 2014 to accommodate an analysis account to assure the affection of customer products.
The aggregation absitively to body a Hyperledger-based proprietary blockchain as a supply-chain ecology solution, and after alien WaBi on the Ethereum Network in 2017 as a adherence badge to incentivize use of the account amid the company’s ambition demographic in China.
The activity currently offers a standalone adaptable app, and is developing an chip belvedere for WeChat. In addition, WaBi plan to barrage WaBiPay to affluence affiliation of the blockchain-based adherence arrangement with 3rd affair retailers.
WaBi Tokens (WABI) action as a way for consumers to accretion adherence credibility scanning anti-counterfeit labels on Walimai adequate products. Consumers who accept to accomplish purchases with WaBi badge through Walimai absorb channels will account from discounted prices, bigger commitment terms, and benefit WaBi with every purchase.
For enterprises, WaBi bill the activity as a way to advance chump assimilation through a reward-based adherence system. In May 2018, WaBi announced the proprietary alternation would be accessible for accessible participation, agreeable association associates to run masternodes for auditing supply-chain affairs by staking WaBi tokens.
WaBi Proposed Roadmap
On January 20th, 2018, WaBi appear an adapted roadmap on their Medium page. An extract of the roadmap is provided below.
Q1 2024 (Ends 31st of March)
Q2 2024 (Ends 30th of June)
Q3 2024 (Ends 30th of September)
Q4 2024 (Ends 31st of December)
WaBi Project Business and Product Development Progress:
Usage of the Token
One of the primary channels for use of the WaBi Token is the committed WeChat app developed by Walimai. On January 1st, 2018, WaBi appear a Medium column forth with a abrupt video audience of the application.
The app purportedly allows consumers who acquire WaBi tokens to adjustment Walimai adequate products, analysis their adherence credibility (i.e. WaBi balance), and acquirement items with either authorization money or WaBi tokens. However, in a July 31st advance address appear on Medium, the aggregation adumbrated the WeChat chip app is still in the testing appearance and has been rescheduled for appear afore a rebranding attack in Q3/Q4 2018.
In a May 24th Medium post, the WaBi aggregation declared that, “WaBi is already actuality activated by accustomed customers.” The abovementioned July 31st advance address abundant added on the specifics, advertence that WaBi tokens are currently alone adored to barter through the standalone app offered by ancestor aggregation Walimai.
When we asked the WaBi aggregation anon on their official Telegram altercation channel for any media demonstrating alive use of the badge by customers, WaBi Social Media Manager Wouter de Hoogt adumbrated the aggregation are currently alive on a accessible block charlatan and that added media would be appear soon.
In an August 30th repost of an AMA with the activity founders, one activity adherent asked the aggregation to acknowledge numbers on how abounding barter accept absolutely activated the badge for purchases. The afterward acknowledgment was provided:
“We’re captivation off on advertisement of numbers at the moment. Give us some time to complete rebranding, barrage the new adaptation of the boutique with all planned 200 SKUs, etc. Right now, whether it’s 10,000 or 1,000,000 doesn’t absolutely matter. It would still be atom back compared to area we appetite to get abutting year.”
On May 24th, the activity appear the Walimai accumulation alternation balance testnet was up and running, with a mainnet launched planned for the summer. Less than a ages later, the aggregation released capacity to WaBi holders on how to run a masternode, in an accomplishment to accessible up the proprietary alternation for accessible participation. In aboriginal July, the aggregation called 30 entrants to run masternodes. The activity has yet to absolution a block charlatan for the Walimai chain.
WABI Token Performance
WABI holds 363rd abode on CoinMarketCap at the time of publishing, with a bazaar cap of $7,118,746 USD. The absolute accumulation of WABI is 99,218,023 tokens, with 45,248,033 currently in circulation.
WABI rose to an ATH of $5.39 on January 11th, 2024, bottomward to $2.33 beneath than a anniversary afterwards the peak. From January 17th until the 21st, the amount rose afresh to $3.81 afore already afresh experiencing a affecting bead to $1.06 by February 6th. Afterwards 12 canicule of affecting amount fluctuations, on February 18th, WABI fell beneath $2.00 for the aftermost time. Following a abrupt accretion in May which saw a aerial of $1.49, the badge has followed a abiding declivity to the accepted amount of $0.15.
With a roadmap absolute alone one anniversary advertence the WaBi badge itself, the aggregation arise to be absorption their efforts on growing ancestor aggregation Walimai.
An eight ages adjournment on the WeChat app rollout and a authoritative ambiance for crypto-based payments wrought with uncertainty both affectation cogent issues for WaBi.
On a added axiological level, the charge to accommodate blockchain technology with a adherence rewards arrangement at all charcoal awful questionable. While the appeal for anti-counterfeit casework by Chinese consumers absolutely presents an befalling for ancestor aggregation Walimai, the catechism of how WaBi badge fits into this account looms ample as the end of 2024 bound approaches.
We additionally agenda that we accomplished out to WaBi for animadversion on this article, and no acknowledgment was forthcoming.
Learn added about the advance of WABI Token from our Telegram Community by clicking here.
Published: 9/12/18
Token Name: WABI
ICO Date: 11/28/17
Raised: $11,5000,000 USD
Crowdsale Token Ownership: 46%
ICO Price: 1 WABI = 0.25 USD
Current Price: $0.15 USD
Token Return: x0.63
Market Cap: $7,118,746 USD
