Web3 Telecommunications Startup Wayru has finally launched its decentralized internet network and Genesis hardware devices. This will usher in a new era of connectivity where anyone can buy its Hotspot Pool Tokens to support the network or even become a bonafide network participant by purchasing one of the first 1,000 Genesis hardware devices.
Despite the UN declaring internet access as a fundamental human right, only 35% of the population in developing countries have access to reliable connectivity. The lack of internet access has created an opportunity for startups like Wayru to make an impact by providing blockchain-based solutions to the problem.
With the help of the Algorand Foundation and other top investors, Wayru has developed a radical new globally-compatible hotspot network and a hardware device (known as Genesis) for individuals to share their internet connection in exchange for cryptocurrency.
This model allows communities, entrepreneurs, and small businesses to build, own & operate Internet networks independently. The project’s central goal is to eliminate the exorbitant operational cost that customers of centralized internet networks bear.
All transactions, including telecommunications, processing, and other transactions on the network, will be handled on the Algorand blockchain. At the same time, the entire project will be powered by Wayru token, which runs on the Algorand blockchain.
Wayru Hotspot Pools
Wayru Hotspot pools are a hybrid network of Hotspots with cutting-edge radio fiber-quality mesh technologies. The pools will first be deployed in the densely populated but poorly connected Latin American cities of Quito and Guayaquil and cover millions of people’s businesses, homes, and public spaces.
There is no setup cost and a free first month of use for early adopters. Users can invest in these pools easily and start earning the project’s native token, $WRU. Pools comprise at least 1,000 hotspots, and users can invest by buying the Pool Tokens. The number of tokens per pool depends on its location and the number of Hotspots in it, but the more tokens you have, the more reward you will get.
For every revenue generated from using the network, 40% is used to run the network. In comparison, 60% is distributed between Wayru and Pool Token Holders, with holders receiving exactly two-thirds and Wayru one-third. You can buy the first batch of 10,000 Pool tokens available at $50 per token. Pool tokens can be purchased using WRU, ALGO, USDC, or USD.
Wayru Genesis Device
The Wayru Genesis device lets users share their internet connection for crypto rewards. They will be on sale from Tuesday, August 9th, and are expected to ship in late Q3 2022. Those who buy the first batch of devices will enjoy an early-bird reward of between $50.00 and $100.00 worth of WRU, so the earlier, the better.
WRU tokens with a maximum supply of 10 billion tokens will be minted as genesis but locked to the network until network use commences, after which the token will be distributed as rewards for hotspot pool token owners operators, and stakers, for their contribution to the network.
During the presale in early 2023, 100 million tokens equivalent to 1% will be released, while the remaining tokens will be distributed as rewards over the years. The presale will kick off on 9th August 2022, with the first 1,000 Genesis hardware devices and Hotspot Pool tokens offered to investors.