QWAN token is planning to launch on some of the largest exchanges in the crypto space on May 31, 2023. This launch has caused ripples in the crypto space as it is anticipated to be the leading global gaming token.
Here is everything you need to know about the launch.
The QWAN will be a DAO
The Qwan (QWAN) is a gaming token that is empowered by the community around the QWAN token. The QWAN foundation is a decentralized autonomous organization (DAO) that is powered by the QWAN token.
According to Qwan, the gaming market in 2023 increased to over 3 billion players worldwide – a staggering 40% of the world’s population. This was mainly contributed by the 2020 Covid-19 lockdown.
The Qwan team has noted the devolution of the gaming industry – from providing mindblowing experiences to outrightly extracting as much value from players as possible from players. The QWAN believes this market can work differently, hence the launch of the QWAN ecosystem.
The Qwan protocol exists on Ethereum Mainnet
The QWAN project is developed on the Ethereum mainnet, which means that QWAN is an ERC-20 token. However, the utility of the token lies solely inside their ecosystem.
The token will be used to power interactions across gaming platforms, coordinate the global gaming community, and also as a currency inside the QWAN ecosystem to buy goods and services.
The Qwan (QWAN) will be listed on MEXC, Gate.io, AscendEX, and BTSE, amongst others on May 31, 2023, at a listing price of $0.15
QWAN Tokenomics
The QWAN (QWAN) has a total supply of 1 billion tokens. 45.5% (455M tokens) have been allocated to the treasury. This is the largest allocation, and the treasury is controlled by the QWAN DAO.
25.3% has been set aside for project partners (a fancy word for VCs). The QWAN project has received support from Horizen Labs Ventures (HLV), and Banger (the game). HLV has been associated with many big and successful names in the industry including Yuga Labs, The Sandbox, Jam City, Dust Labs, and Animoca Brands.
16.8% is allocated to investors and the remaining 12.4% goes to launch contributors.
We are excited about QWAN and its potential to positively impact and shape game economies, powering new utilities and community-led governance that can appeal to existing Web2 gamers.
Rohan Handa, Founding Member and SVP of Business Development at HLV