W Green Pay: A Blockchain-Driven Greenhouse Gas Reduction Reward System

What is W Green Pay

Friends, imagine if every time we did something good for the planet—like driving less or saving a kilowatt-hour of electricity—we could get a tangible reward. Wouldn't that be great? W Green Pay (WGP for short) is a blockchain project dedicated to making this idea a reality. It's like a “green points” system, aiming to encourage ordinary people to actively participate in environmental actions that reduce greenhouse gas (GHG) emissions.

The core of this project is a mobile app called “HOOXI.” You can think of it as a “gaming platform” for environmental tasks. Users complete various carbon-reducing tasks through this app, such as recording their eco-friendly behaviors, and then receive WGP tokens as rewards.

In simple terms, W Green Pay is:

• Project Summary: A blockchain-based platform that incentivizes individuals to reduce greenhouse gas emissions through a reward mechanism, thereby promoting global environmental sustainability.
• Target Users and Core Scenarios: Any ordinary person who wants to contribute to environmental protection through daily actions and receive rewards. The core scenario is users participating in environmental activities via the HOOXI App and earning WGP tokens.
• Typical Usage Flow: Users download the HOOXI App, participate in eco-friendly tasks set within the app (for example, carbon reduction challenges), the app tracks and verifies these actions, and then distributes WGP tokens to users based on their contributions. These tokens can be used within the WGP ecosystem in the future, and may even be used to purchase goods or services.

Project Vision and Value Proposition

W Green Pay has a very ambitious vision: it hopes to use blockchain technology to make environmental protection not just the responsibility of a few, but something everyone can easily participate in and benefit from in daily life.

• Project Vision/Mission/Values: Its mission is to increase public enthusiasm for reducing greenhouse gas emissions and promote environmental sustainability. This aligns with the environmental goals in the United Nations Sustainable Development Goals (SDGs).
• Core Problems to Solve: Traditional environmental actions often lack direct incentive mechanisms, resulting in low public participation. WGP hopes to use token rewards to make abstract environmental contributions tangible, so that people's efforts are recognized and rewarded.
• Differences from Similar Projects: WGP's uniqueness lies in its close integration with the South Korean government-supported greenhouse gas reduction campaign “HOOXI Movement,” and its plan to link its reward mechanism with Korea's Emissions Trading System (KETS). KETS is the world's second-largest emissions trading system, which provides potential support for the value and liquidity of WGP tokens.

Technical Features

W Green Pay mainly relies on mature blockchain infrastructure and mobile application technology:

• Blockchain Foundation: WGP tokens are issued as ERC-20 standard tokens on the Ethereum blockchain. You can think of ERC-20 as a universal “standard format” for issuing digital assets on Ethereum, ensuring token compatibility and security.
• Core Application: The HOOXI mobile app is the main interface for users to interact with the WGP ecosystem. It is designed as a “gamified” social network service, encouraging users to participate in emission reduction through fun tasks and challenges.
• AI Assistance: Some sources mention that the HOOXI app may use an AI engine to provide users with personalized greenhouse gas reduction tasks, making environmental actions more targeted and efficient.
• Smart Card Collaboration: WGP has partnered with Korea's leading IT company KONA I, aiming to enhance the global usability and convenience of WGP tokens through smart card technology, allowing users to use WGP for payments more easily.

Tokenomics

Tokenomics, simply put, is the study of how a cryptocurrency project's tokens are designed, issued, distributed, and used, which directly affects the token's value and the health of the ecosystem.

• Basic Token Information:
  • Token Symbol: WGP
  • Issuing Chain: Ethereum, as an ERC-20 token.
  • Total Supply/Max Supply: Most recent data shows WGP's max supply is 600 million (600,000,000 WGP). However, in the early days of the project (during the 2018 ICO), the planned total supply was 1 billion, with 200 million for public and private sales, and 800 million reserved.
  • Current Circulating Supply: As of now, the circulating supply of WGP tokens is about 17,630,267. However, some platforms report a circulating supply of 0, which may reflect low market activity or delayed data updates.
• Token Utility:
  • Rewards: The main reward for users participating in HOOXI environmental activities.
  • Payments: Users can use WGP tokens to purchase goods and services, and may even use them with international brands and merchants such as Amazon, iTunes, and Google Play.
  • Trading: WGP tokens can be traded on cryptocurrency exchanges that support them.
• Token Distribution and Unlocking Information (based on 2018 ICO plan):
  • Public and Private Sale: 20% (200 million) for public and private sales.
  • WGP Issuer Holding: 20% (200 million), with a 6-month lock-up period.
  • HOOXI App Rewards: 20% (200 million), for rewarding HOOXI activity participants.
  • Future Sales Reserve: 40% (400 million), with a 6-month lock-up period.
  • Fund Allocation: 40% of raised funds for HOOXI activities, 30% for marketing, 20% for app upgrades and maintenance, and 10% for operational expenses.

Team, Governance, and Funding

The success of a project depends on the efforts of its team and an effective governance structure.

• Core Members and Team Features: The W Green Pay project was initiated by W-Foundation, a non-profit international organization dedicated to promoting environmental protection. Youree Lee, co-founder and CEO of W-Foundation, is a key figure in the project. The project also has a group of advisors in blockchain, technology development, marketing, and investment.
• Governance Mechanism: Given W-Foundation's role as a non-profit, early project governance was likely mainly led by the foundation. There is currently no detailed public information on decentralized governance mechanisms (such as a DAO).
• Treasury and Funding: The project raised funds through an initial coin offering (ICO), with soft cap and hard cap targets. In addition, KONA I, as a strategic investor, also provided funding and technical support for the project.

Roadmap

The roadmap shows the project's key milestones in the past and its future development plans.

• Historical Key Milestones (up to 2019):
  • December 2017: HOOXI Movement Declaration released.
  • April 2018: HOOXI Movement Committee established, W Green Pay certified in Singapore.
  • May to September 2018: W Green Pay private sale.
  • October 1–14, 2018: W Green Pay public sale.
  • October 4, 2018: HOOXI App launched.
  • March 2019: W Exchange planned to launch.
• Future Plans: According to currently available public information, there are few detailed updates to W Green Pay's future roadmap. The above roadmap mainly focuses on the project launch phase before 2019. It is recommended to follow the project's official channels for the latest developments.

Common Risk Reminders

Every blockchain project comes with risks, and understanding these risks is crucial for making informed decisions. Please remember, the following is not investment advice.

• Technical and Security Risks:
  • Smart Contract Risks: WGP is an ERC-20 token, and its smart contract may have vulnerabilities. Although audited, risks cannot be completely ruled out.
  • App Security Risks: As the core interaction platform, the HOOXI App's data security and user privacy protection are critical.
  • Blockchain Network Risks: The Ethereum network itself may face congestion, high fees, etc., affecting transaction efficiency and cost.
• Economic Risks:
  • Market Volatility: Cryptocurrency markets are highly volatile. WGP token prices may be affected by market sentiment, project progress, macroeconomics, and other factors, with the possibility of significant declines.
  • Liquidity Risk: Current data shows that WGP's market trading volume and market cap may be insufficient, meaning token trading may be inactive and it may be difficult to buy or sell at ideal prices quickly.
  • Token Value Support: WGP's value is closely related to HOOXI App user adoption, the actual effectiveness of environmental actions, and the degree of integration with carbon markets such as KETS. If these aspects do not develop as expected, it may affect the token's value.
• Compliance and Operational Risks:
  • Regulatory Uncertainty: Global regulatory policies for cryptocurrencies and carbon credit markets are still evolving, and future policy changes may impact project operations.
  • Project Operational Continuity: Stagnant roadmap updates may indicate slowed project development or bottlenecks. Attention should be paid to whether W-Foundation is still actively promoting the project.
  • Competition Risk: Other similar “green” blockchain projects may emerge in the market, and WGP needs to continue innovating to remain competitive.

Verification Checklist

As a blockchain researcher, here are some key pieces of information you can use to independently verify the project's authenticity and activity:

• Block Explorer Contract Address: The contract address for WGP tokens on Ethereum is
  0xdD94842C15abfe4c9bAFE4222adE02896Beb064c
  . You can check this address on Etherscan and other block explorers to view token holder distribution, transaction history, and more.
• GitHub Activity: Check whether the project has a public GitHub code repository and observe its code update frequency and community contributions, which reflect the project's technical development activity. No direct information on WGP's GitHub activity was found in current search results.
• Official Website: Visit W Green Pay's official website
  wpay.sg
  for the latest information and announcements.
• Whitepaper: Review the project's whitepaper for in-depth understanding of its technical details, economic model, and development plans.

Project Summary

W Green Pay is an innovative blockchain project that combines environmental actions with cryptocurrency rewards, aiming to incentivize global users to participate in greenhouse gas reduction through the HOOXI app. The project's core value lies in its environmental vision and its potential connection with Korea's Emissions Trading System, giving WGP tokens unique application scenarios and value support.

However, based on current market data and public information, WGP's market activity appears to be low, with uncertainty in circulating supply and market cap data, and limited recent roadmap updates. This may indicate that the project faces challenges in its development or has shifted its focus elsewhere. For anyone interested in W Green Pay, it is strongly recommended to conduct thorough independent research, including reviewing the latest official announcements, community discussions, and market performance, and to fully understand the risks involved. Please remember, this is not investment advice; cryptocurrency investment carries high risks.