FAQ
🙋♂️ What is your goal?
To build a digital wallet ecosystem that can really onboard the remaining 90% of the population into Web3, in a better way, which is more inclusive and sustainable.
1. Short term goal
To focus on B2B use cases, to build the product with our 2B partners, and iterate the product based on their use cases and feedback, to get Vastlink wallet protocol (Wallet as a Service) mature and robust to support more 2B customers and 2C users.
2. Long term goal
To become an open, sustainable and scalable wallet protocol (Wallet as a Service) that can support thousands of various use cases, all powered by tokenomics, driven by community.
🙋♂️ How do you plan to achieve the goal?
We have practical and clear steps to achieve the ultimate goal.
Research stage In 2023, when the idea was started, we built #1 and #2 POC products, sponsored by and partnered with 2 infrastructure vendors.
POC stage In 2024, we built #3 (current) POC for the complete concept, and established the founding team based on it. We started to seek partnership with businesses, get early adopters, and raise funds from VCs. We have got our first 2B customer and partner, which is a Sydne based and licensed financial institution doing B2B cross-border payments in both fiat and crypto. We are building to solve their real use cases and paint points.
MVP stage Starting from 2025, after we finish our POC and testing, we plan to build MVP on mainnets based on real use cases for real revenue. We focus on 2B at this stage aiming to get 2~5 business partners in order to iterate the product with their real business cases, and verify our tokenomics. Meanwhile we plan to establish an initial community for 2C users, as we are eventually a community driven ecosystem.
Public launch From Q3 2025, we plan to open the platform to 2C users.
🙋♂️ Can you give us a scenario for what the value might be of these tokens? (i.e. have you thought about the value of the project at the different funding stages, and also what are the total percentages given to founding members?)
The founding team members contribute to earn tokens, same as all community members, no initial token allocations.
The founding team members manage 20% tokens collectively, which is the ecosystem fund.
We plan to have 3 rounds of fundraising, we give out 10% for each round.
Pre-seed round, $1M at $0.01/token, for 100M tokens
Seed, $10M at $0.1/token, for 100M tokens
Series A, $100M at $1/token, for 100M tokens
e.g.:
By the 1st year, it is $0.01 / token
By the 4th year, it is $0.10 / token after good work and first round of investment
By the 7th year, it is $1.00 / token after good work and another round of investment
The founding members and early members get more token at lower price
🙋♂️ Would this structure be modified once the project is fully launched? would founding members who continued with the project at that point receive fees? And/or would founding members continue to receive their token allocation?
The high level structure and principles are unlikely to change, but details could be subject to change due to circumstances and consensus.
As we pay in token purely, so all members will continue to get tokens by contribution at all times. The way to cash out is to go to the liquidity pools we set up on DEXs and CEXs, or OTC. Token buyback and burning are also via the liquidity pools.
🙋♂️ At what stage of funding with those tokens become tradable? would this be before launch? and if so at what stage of funding could we cash in?
As early as possible, we would test and validate our tokenomics and make it ready at scale.
The plan is to put 80% (linearly and gradually) of $1M (or whatever amount we get) seed into the liquidity pools to help token holders to cash out over time.
🙋♂️ Would each founding member receive the same amount of tokens each month?
We have an hourly rate, and if you work for 2 hours today, and I work for 1 hour, then you get twice as much as I do.
In addition to the standard rate, we have a bonus pool every month, team members share the pool.
E.g.: 5 members share the bonus pool (1M tokens), if we achieve the goals we planned for the month, each member gets 200K tokens. If we achieve 50%, we get half. It would be discussed and decided collectively, and will be recorded for transparency for the community.
🙋♂️ Who are the decision makers in the project? Is that you, someone else, or a combination of people? How are major decisions made? Is it with a group vote, a single person or some other way.
I have been the decision maker since 2023, but since now we have a founding team of 3 people, we make decisions collectively going forward. In reality someone has to have a big say, the point is to make the decision making process as transparent and open as possible since we are a community driven product.
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