Cryptocurrencies sector is evolving every day and therefore, it is a platform of innovations and conceptually new products. One such new concept is a Wallet Holder Offering (WHO) which has been pioneered by the Safepal Wallet.
Note: Safepal wallet is available as a mobile app and also as a hardware wallet.
Wallet Holder Offering (WHO) is a new model of reward distribution that has been initiated by Safepal wallet to benefit its wallet holders through airdrops in a secure, decentralized, and user-friendly way. WHO is a unique and secure mechanism which has been initiated to pluck inefficiencies with the traditional airdrop campaigns.
In the past, airdrops have resulted in unfair distribution of tokens towards whales or cheaters, failing the legitimate users who actually use and support the projects. Thus, a WHO aims to make sure that the rewards are placed in the right hands. WHO works as a bridge between wallet users and blockchain projects. Users can learn and engage with the new crypto projects and these blockchain projects can gain valuable community feedback from a large and active user base.
In simple words, WHO is a better and well thought Airdrop mechanism.
Benefits of WHO for Blockchain Projects
For the participating blockchain projects, WHO presents a great way for an immediate user base, real engagement in product usage, and feedback. The project team can create awareness amongst the public and develop a strong social following simultaneously.
Not only this, the project team can engage and educate users along with rewarding and aligning user interest in its project. Due to active and wide user involvement in the initial stages of a project, there will be a wide and fair distribution of tokens and thus, will help with prevention of whales taking over the project.
Tasks that will be assigned in the WHO are meant for educational purposes, to educate users on how to use project tools, platforms and ecosystems. Thus, rewarding the project team in driving real product utility, usage and higher quality of supporters
A WHO may lead to substantial savings in the capital expenditure towards the marketing funnels. The project team will be able to save time and effort towards administrative and marketing efforts and focus more on the project development.
Benefits of WHO for the wallet users
Not only for a blockchain project, the WHO would be very beneficial for the respective wallet users.
A user will get an opportunity to “Earn via Learn”, i.e. the wallet users will earn airdrops via the learning process where he or she will use the respective blockchain project and provide their feedback. Further, complexities in the traditional reward distribution mechanism will be simplified.
Finally, by using renowned and secure wallets, users will be saved from falling prey to any scammy activities.
Currently available WHO
Safepal has initiated its first WHO in partnership with Tokocrypto. Tokocrypto is Indonesia’s leading crypto asset exchange. Further, it is invested and backed up of by Binance (the leading crypto exchange in the world)
For more information on this WHO refer here.
Thus, WHO will help the crypto community in a better development of the project know how and align the process of learning with earning.
Please note that Wallet Holder Offering (WHO) is different from Initial Wallet Offering (IWO).
Harsh Agrawal is the Crypto exchanges and bots experts for CoinSutra. He founded CoinSutra in 2016, and one of the industry’s most regarded professional blogger in fintech space.
An award-winning blogger with a track record of 10+ years. He has a background in both finance and technology and holds professional qualifications in Information technology.
An international speaker and author who loves blockchain and crypto world.
After discovering about decentralized finance and with his background of Information technology, he made his mission to help others learn and get started with it via CoinSutra.
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Source: What is Wallet Holder Offering (WHO) ?