Thread by @WadzPay

Dear WTK community,

We acknowledge more clarity on the supply increase mechanism could have been provided on a timely basis and communication could have been clearer. We apologize for the confusion it may have caused amongst the community.

Further clarifications regarding WTK token supply increase. The “only” incremental supply available for public circulation is 250million. For this WadzPay is providing 1:1 Air Drop. Please note and we reassure no one is being diluted and it was never our intention.

The next 250 million contains blocks of WTK (XRC), WTK (BSC) , WTK (Algo), WTK (SOL). These are necessary for us to enable swaps on exchanges. For example You can withdraw WTK in any of those supported blockchains from an exchange without the need for manually swapping it.

Please note these are 1:1 swap’s and hence not incremental supply and it is a requirement by the exchanges to maintain these blocks. This will allow users, merchants and consumers to transact in WTK of there choice based on speed, cost and convenience.

The next block increment of 250million tokens is blocked only for WadzPay Blockchain and will not be released as well. This will also be 1:1 token swaps and not incremental supply. Our endeavour will be to reduce WTK (ETH) supply as we ramp up WadzPay’s own blockchain.

The WTK token is critical tool for merchant payments and settlements. It is key that optionality on the token is available to build use cases. You will notice several announcements and steps the company will be taking over next few weeks to enable all of the above steps.

We hope the above clarifies and puts to rest all doubts and question. We are proud of our community and what we have achieved together.

#WeAreWadzPay #WTK #WadzPayBlockchain $wtk