Staking is the primary use for WATT Tokens, enabling different participants access to the network and to perform more work on WorkChain.io based on the size of the stake.
Primary Parties and their benefits in Staking WATT Tokens:
WorkChain.io Application Users (“Users”)
WATT Tokens will be a membership token that acts like a software license key, unlocking access to the platform and its various features. Users will always be required to have at least one token to access the WorkChain.io platform.With the upcoming launch of our workPAY and workPAY ADVANCE products, priority access and prime borrowing opportunities will be given to users who stake the most WATT Tokens.
WorkChain.io Business Users (“Employers”)
In order to get real-time payroll for their employees, businesses will not need to pay monthly subscription, but they will need to stake a number of tokens relative to the number of their employees that are on the WorkChain.io platform.
Work Record Validators (“Validators”)
Validators are third-party systems that can provide Proof of Work Records that someone has completed their work. For example time and attendance, or time tracking systems such as Humanity.com or WorkPuls.com.Similar to API Service Fees, Validators will be required to stake more tokens for the right to do more work on the WorkChain.io Platform.Through the work performed, Validators, will have the potential to earn an additional income stream for their business through rewards earned for their work on the network.
Fund Providers (“Lenders”)
Lenders on the WorkChain.io platform can be any party. For example, an institutional lender, an Employer, or User with extra capital that they would like to use to generate an investment return. In order to get first in line to lend their money, and to secure the best rates for their loaned funds, Lenders will need to stake more tokens. Priority goes to those with the largest stake. And more money lent equals more interest earned.
WATT Tokens enable secure and verified transactions – the sharing of value – between individuals and entities on WorkChain.io. WATT Tokens are vital to the adoption, functionality and future mainstream success of WorkChain.io.
WATT Tokens will be earned by entities and individuals who provide trusted data to WorkChain.io to build the platform’s records. A reward for trusted, verified data.
WATT Tokens will be awarded to users who verify data shared on WorkChain.io. In this way, WATT Tokens work alongside the Trust Score Protocol as an internal measure of quality for the verification of data.