ASSET EIGHT AND VERY VERY BUT VEEERY VERY
The Waves Community Token (WCT) is intended to provide a tool for community assessment of crowdfunding campaigns launched on the Waves platform and incentivize long-term holding by providing an additional income stream for WAVES token holders in the form of regular asset distributions. WCT will be a virtual community organization. It will be launched in several stages based on the technical maturity of the Waves platform.
WCT will be distributed in stages over a period of 9 months to all Waves holders excluding exchanges. Distribution will take place on the 15th of each month based on a snapshot of WAVES balances. 20% of all WCT assets will be distributed in the first month, with 10% distributed each subsequent month. In this way WCT will constantly add value to all active holders.
The next phase of WCT operation will involve using the upcoming voting functionality. WCT holders will be able to vote for different projects. This will provide some level of community-based KYC and screening.Thus WCT aims to reward long-term holders, incentivise community engagement and provide added value to new projects hosted on the Waves platform.
The first distribution of 20% of all WCT tokens will take place on January, 15 2017. It will be distributed to all waves addresses excluding exchanges proportional to the average of daily snapshots of their balance.