In preparation for the ICO campaign which is to be launched in September 2017, Wabi and Walimai are announcing the opening of the pre-sale campaign of the Wa token.
The preICO sale is a great opportunity for the early contributors to take part in a project with rapidly growing sales which aims to solve the problem of baby-food safety in China.
During the preICO campaign, 300,000 preWabi tokens will be offered at the price of 1 USD per 1 preWabi token. The preWabi tokens will be exchangeable at 1:2 ratio to Wabi tokens at the start of the ICO. To reward the early contributors a bonus system has been set up that works as the following: all of the contributions received will be split into 4 blocks of 75, 000 USD each.
Contributors from each block will receive 3% of the sum equivalent to that of the contributions in the following blocks proportionate to the size of their own contribution. The entirety of preICO proceeds will be used to fund the ICO campaign.
The Wabi project is the commercial deployment of the Walimai anti-counterfeiting label technology. The technology securely connects digital and physical objects and is cost effective enough to be used for consumer goods.
Wabi installs a shelf/ point-of-sale inside the specialized mother & baby stores in China (numbering around 60,000 in the whole of China), which serves as a secure channel for consumers to purchase Walimai label-protected products. The technology has been in commercial operation since December 2016 and has been receiving very positive consumer feedback. At the moment Wabi is in the process of scaling nationwide and the entirety of the ICO proceeds will go to fund this expansion.
Wabi pioneers commercial deployment of technology that can deliver the benefits of the blockchain to the physical world. Up to now the vast majority of such attempts failed due to the inability to guarantee that transactions in the blockchain will be reflected in the real world. Walimai label solves this problem opening up enormous opportunities for blockchain implementation for the physical world.