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WaykiChain Trust Review and SVET Rating

kyber

Here we come to the key feature of WaykiChain - its '3-Token Economy Model'.

Quote: 'Three-Token Economy Model Based on The Bottom Layer of WaykiChain (WICC), is composed of WaykiChain public blockchain assets WICC, stablecoin WUSD and the governance coin WGRT.'

Other saying, it's a bit of an artificially created mess.

Wayki platform's main currency is supposed to be WICC, with which users pay for transactions. However, users also have to purchase (by the overblown rate) WUSD, which serves as a 'hostage' money in loans arrangements. On top they sell you WGRT, which 'represents a right responsibility and obligation to participate in community governance'.

Technically speaking there is noting wrong with having on the same platform several digital species powering protocol's separate features. However, from the economic stand point it's not only confuses users but also dissolves the long-term value, at the same time, making it easier for rough players to undermine the stability of the whole system's over-complexity.

We have already seen how it develops on the examples of EOS RAM trading craze and Ethereum periodic Gaz shortages.

Wouldn't be easier to use just one token for transaction, staking and voting? From the market participants' prospective - yes, it would, because it provides a clear demand / supply based mechanism of assets re-distribution through an 'open outcry' on exchanges (sort to say) but it's different from the platform owners' stand point.

Among other things such convoluted Tokenomics structure allows creators to amass more funds by inflating the supply of WICC without the risk of loosing the control over the platform trough withholding most of WGRT out of circulation.

Obviously, not all of Wayki Team are such strong believers in the power of the 'invisible hand' :)

I'm far from suspecting them in any kind of a premeditated malfeasance, but I have to reflect this value dispersity in my ratings. Therefore, 'c+' for 'Value'.

At the same time, such 3-layered coins disposition makes it 'busier' for users to 'move in the ranks' with Wayki those increasing their the 'Engagement'. Hence, 'b+'.

As to long-term 'Sustainability' of Wayki internal Economy it's a bit too early to say because it depends on the rate of protocol adaption among devs and node-runners. At this stage, imho, I'm giving a credit to the Team by assigning 'b' to this side of the rating.

That leaves us with 'Transactions'.

I haven't been using WaykiMax or WaykiTimes - browser and mobile versions of Wayki wallets. So, do not expect me to comment on their quality. Still, it's good Wayki got them both. Additionally, WICC can be bought / sold on several big exchanges, so I do not have internal constraints to have 'Transaction' set on 'b' at this moment.

Result Trust (Sustainability - Value - Engagement - Transaction): b / c+ / b- / b

[Please, do not forget that I am not your financial advisor and all above was not intended to be a financial advise, of course. You’ve got to use your own gray matter enclosed between both of your ears to take all important as well as unimportant financial decisions.]

For the original version of this article, please, refer to: http://svetrating.com/rating_text/36/tok/

Link (WhitePaper): https://www.waykichain.com/Whitepaper_en.pdf

Image: Road through Fields of Corn near the Zuider Zee, Jacob Isaacksz van Ruisdael

What Is SVET Rating?

SVET Rating is the first public praxiological (human actions driven) rating. It takes into account combine effects of cognitive, emotional and social factors on the decisions of individuals and institutions dealing with crypto currencies and blockchain projects. Uses S.V.E.T. Metrics = System + Vision + Execution + Tokenomics. Includes 16 parameters. Accounts for main drivers of public behavior: technology, economy, organization and psychology. Integrates insights from independent experts and everyday users

SYSTEM
  • Security (safety): for defenders (
    - The Protector: Warm-hearted and dedicated, they are always ready to protect the people they care about.
    );
  • Velocity (scalability): for megalomaniacs (
    - The Commander: Outspoken and confident, they are great at making plans and organizing projects.
    );
  • Engineering (design): for geeks (
    - The Architect: High logical, they are both very creative and analytical.
    );
  • Transparency (decentralization): for crypto punks (
    - The Crafter: Highly independent, they enjoy new experiences that provide first-hand learning.
    );
VISION
  • Singularity (uniqueness): for Individualists (
    - The Artist: Easy-going and flexible, they tend to be reserved and artistic.
    );
  • Volume (market): for Globalists (
    - The Performer: Outgoing and spontaneous, they enjoy taking center stage.
    );
  • Empathy (enthusiasm): for Tribes (
    - The Persuader: Out-going and dramatic, they enjoy spending time with others and focusing on the here-and-now.
    );
  • TimeLine (road-map): for Visionaries (
    - The Mediator: Idealistic with high values, they strive to make the world a better place.
    );
EFFECT
  • Solution (business): for Dealmakers (
    - The Director: Assertive and rule-oriented, they have high principles and a tendency to take charge.
    );
  • Validity (legality): for Lawyers (
    - The Inspector: Reserved and practical, they tend to be loyal, orderly, and traditional.
    );
  • Equity (finance): For Venture Capitalists (
    - The Advocate: Creative and analytical, they are considered one of the rarest types.
    );
  • Team: for Friends (
    - The Caregiver: Soft-hearted and outgoing, they tend to believe the best about other people.
    );
TOKEN
  • Sustainability (stability): for Sages (
    - The Thinker: Quiet and introverted, they are known for having a rich inner world.
    );
  • Value (venture): for Adventurers (
    - The Debater: Highly inventive, they love being surrounded by ideas and tend to start many projects (but may struggle to finish them).
    );
  • Engagement (usability): for Pragmatics (
    - The Giver: Loyal and sensitive, they are known for being understanding and generous.
    );
  • Transactions (speed): for Travelers (
    - The Champion: Charismatic and energetic, they enjoy situations where they can put their creativity to work.
    ).

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