We’ve already talked about AIWORK, its ecosystem, and how it blends blockchain technology, artificial intelligence, and human experts to create advanced metadata for online video content. But, what drives the platform and community, encourages users, and drives growth? That’s where AIWORK’s native token, AWO, comes in. Let’s briefly look at the AWO token, tokenomics, and its usefulness in the AIWORK ecosystem.
AWO Token
As mentioned, AWO is the native token of AIWORK. It is an ERC-20 token that fuels development on the platform. The token serves as an incentive for users to participate in AIWORK, offering their computing resources for verification, transcription, translation and other processes on AIWORK. However, AWO tokens have mainly uses in addition to:
- Operation
- Licensing
- Research
- Development
- Marketing
- legal.
With the total supply of AWO tokens being 10 billion, no additional AWO tokens will be issued going forward.
AWO Token Allocation
To better understand how this can empower the project and the community, it is necessary to look at the full distribution of the AWO token. As mentioned earlier, the total supply of AWO tokens is 10 billion, and let’s see how the tokens are allocated.
- Community – 45% of the token supply is allocated to the AIWORK community. These are used as incentives for the users on the platform. The activity ratio will be determined by the government. The AIWORK team will decide the token issuance schedule after the launch.
- foundation – 10% of the tokens will be allocated to AIWORK Foundation with a lock-up period of 1 year. 10% of the distributed tokens will be unlocked every month after the lock-up period.
- Ecosystem – 10% of the tokens will be dedicated to AIWORK’s external affiliates, with a lock-up and unlock schedule similar to the tokens allocated to the Foundation.
- Team and consultants 10% of the tokens are reserved for the AIWORK team and consultants. The lock-up and unlock schedule will be the same as the tokens allocated to the Foundation.
- Private Token Sale – 15% of the tokens will be allocated for private token sales. Of this, 15% will be listed on the day of the token sale, after that 3% will be unlocked every month.
- Marketing – The remaining 10% of the tokens will be used for marketing purposes and will be unlocked when needed.
It is important to remember that AWO tokens are not considered shares or securities and do not provide any dividends or benefits to token holders, nor may token holders participate in company meetings. AWO tokens will only allow token holders to use them on the platform.
What is the purpose of the AWO token?
AWO tokens have three primary purposes. these:
- Utility
- expressed
- Governance.
Utility
As more participants join the platform, the demand for AWO tokens will increase significantly. As a utility token, the AWO token will have the following uses.
- The token will act as a payment solution and micro-accounting tool.
- The AWO token can be used as a medium of exchange on the AIWORK platform and within the ecosystem.
- The AWO token will be used to reward contributors to the platform, and it will also encourage new participants to join the platform.
expressed
Staking is another use case for the AWO token and encourages token holders to act honestly on the platform. Any token holders acting maliciously will lose their stake, meaning they lose their entire stake on the network. Any user on AIWORK who wishes to participate on the platform must hold a small stake in AWO tokens. Users can then designate their registration rewards as deposits if they wish to participate further. Participation on the platform also requires validators and artificial intelligence/human expert nodes to have stakes.
And, of course, users will also have to stake AWO tokens to participate in the governance mechanism on AIWORK.
Governance
The team at AIWORK intends to hand over governance of the platform to AWO token holders after an initial stabilization period. Token holders will be eligible to vote on important issues related to the Platform, such as incentives for participants, the processes involved on the Platform, and actions taken to combat malicious actors. Most importantly, AWO token holders will be able to determine the future course of AIWORK by voting on important decisions and changes to the platform.
closing thoughts
The AWO token is an important feature of the AIWORK ecosystem, and token holders will participate in important governance decisions regarding the platform. It will also be a high usability and reward contributor on AIWORK, with users betting on helping secure the platform.