1. Project Introduction
WATCoin (WAT) is an innovative blockchain gamification mining project based on the TON blockchain, which aims to provide rewards to GMEE token holders and GAMEE ecosystem players through diverse interactive methods.
The project was initially launched on February 8, 2024 as Phoenix Protocol, and later evolved into WATCoin. As its core role, WATCoin guides users to earn WatPoints through games and mining activities in various chapters.
WATCoin is designed with five chapters, each of which introduces different forms of interaction, such as soft and hard staking of GMEE tokens, participation in the NFT community, mining activities based on Telegram, etc. As the project progresses, players can gradually collect WatPoints through these activities. These points not only represent the player's contribution to the protocol, but will also become an important asset within the ecosystem in the future.
WATCoin is not only the mascot of the project, its role and background are also constantly evolving through community participation and interaction, increasing the story and sense of community of the protocol. While introducing the gamified mining mechanism, WATCoin also attracted more users who were not originally GMEE token holders through cooperation with NFT projects such as Mocaverse, Space Doodles and Pudgy Penguins.
This openness and diverse interaction methods make Wat Protocol a highly-anticipated innovative project in the blockchain and gaming fields.
In addition, WATCoin has received strategic support from Animoca Brands, and with its rich experience in blockchain games and DeFi, the project's potential and development prospects are even broader. Animoca Brands not only provides technical support for Wat Protocol, but also further promotes the project's popularity and influence in the blockchain game field through extensive ecological resources.
II. Project Highlights
1. Chapter-based interactive design: WATCoin adopts a design of five different chapters, each of which brings new forms of participation and reward mechanisms. From soft staking GMEE tokens to hard staking, to mining through the Telegram platform and participating in the NFT community, players can freely choose the way that suits them to participate, which increases the fun and interactivity of the project.
2. Community-driven WATCoin character: WATCoin is the core mascot of the project, and its character and legend gradually evolve as the protocol develops. WATCoin is not just a symbol, its character story develops through the joint participation of the community. Users can create memes and participate in interactions to promote the character's storyline, enhancing the cohesion and participation of the community.
3. Diversified reward mechanism: Players earn WatPoints in a variety of ways, with flexible participation. From soft and hard staking of GMEE tokens to participation in the NFT community, to the Telegram mining application, the WatPoints accumulated by players through different channels will play a greater role in future chapters, providing continuous incentives for long-term participation.
4. Animoca Brands support and TON ecosystem integration: WATCoin is part of the Animoca Brands ecosystem and has received extensive technical and resource support. Animoca has deep experience and reputation in blockchain games and NFTs, which has driven the development of WATCoin. In addition, TON Ventures, as a major supporter, provides technical support and ecological cooperation opportunities for the project, ensuring the sustainability and scalability of the protocol.
3. Market value expectations
WATCoin's native token WAT is designed to provide a diverse reward mechanism for GMEE token holders and the entire GAMEE ecosystem. Users can earn WatPoints by staking GMEE tokens, participating in NFT communities, and Telegram mining. In the future, WatPoints will be convertible into WAT tokens and used within the ecosystem.
The project is based on the TON blockchain, has an efficient and secure network foundation, and has received strategic support from Animoca Brands. WATCoin's diversified reward mechanism and deep integration with blue-chip NFT projects have greatly increased user participation and project fun.
In addition, as a core role, WATCoin continues to develop through the joint promotion and interaction of the community, adding more storytelling and community stickiness to the project.
Since Wat Protocol has not yet disclosed the detailed issuance data and distribution plan of the token, there is a certain degree of uncertainty in its market value expectations.
The market performance of the project will be highly dependent on the continued participation of GMEE token holders, the support of the NFT community, and the actual application scenarios of the WatPoints system.
If Wat Protocol can successfully expand its user base and deeply integrate with the TON ecosystem, the market value of $WAT tokens is expected to occupy a place in the future blockchain gaming and mining market.
4. Economic Model
Although the project has not disclosed the number and distribution of tokens so far, it can be seen from its official documents that the token economic design of WATCoin is mainly centered around WatPoints and the upcoming WAT token. Players earn WatPoints by participating in different activities, especially staking GMEE tokens, NFT community interaction, and Telegram mining. As the protocol progresses, the utility of WatPoints is gradually revealed, and will eventually have practical application scenarios in future episodes.
1. Distribution and earning methods of WatPoints WatPoints is the core incentive mechanism in WATCoin. Players earn WatPoints through the following activities:
- Staking GMEE tokens : Participants can choose soft staking or hard staking GMEE tokens. The longer the staking period and the larger the staking amount, the higher the return of WatPoints. The staking period can be selected as 30 days or 60 days, and the return of hard staking is higher.
- NFT Community Rewards : Specific NFT holders can earn WatPoints every day. For example, blue-chip NFT holders such as Mocaverse and Pudgy Penguins can receive WatPoints rewards every day just by holding NFTs.
- Telegram Mining Activity : Through the WatPoint Mining App and Wat Racer game on Telegram, users can earn WatPoints through interaction and gaming experience.
2. The value and application of WatPoints At present, WatPoints are mainly used to motivate players to participate in different protocol activities. The exact use of WatPoints in the future will be revealed in the final episode of the protocol. It can be speculated that WatPoints may be used to redeem actual rewards or become part of the $WAT token, which will further enhance the value and attractiveness of WatPoints.
3. Launch and function of WAT tokens WATCoin will soon release its official token WAT on TON. WAT tokens are expected to be closely integrated with WatPoints and may be used as circulating currency or governance tokens within the future ecosystem. After players accumulate WatPoints, they may be able to convert them into WAT tokens and use or trade them in different parts of the protocol.
4. Long-term incentive mechanism for tokens GMEE holder rewards : Through GMEE staking and participating in the interactive activities of the protocol, users holding GMEE can obtain WatPoints and future $WAT token rewards. Staking GMEE for a long time can obtain more WatPoints, which enhances the motivation for long-term holding of tokens.
- NFT Holder Rewards : Wat Protocol further expands the protocol’s participant base by introducing blue-chip NFT community rewards, allowing NFT holders to also earn WatPoints by holding, which not only increases the attractiveness of NFTs, but also attracts more high-value users to the protocol.
5. Team and Financing
The developer of WATCoin is GAMEE, which was founded in 2015 and is headquartered in the Czech Republic. As a gaming platform with a play-and-earn model, GAMEE combines blockchain with games through its ecosystem, where users can earn rewards by completing tasks and participating in competitions.
Its core products include Arc8 App and G-Bots Metaverse. GAMEE has received support from several well-known investment institutions, including Binance Labs, Pantera Capital, TON Ventures and OKX Ventures.
In February 2022, GAMEE completed a strategic financing of US$1.5 million from Binance Labs. These investments provided strong support for the continued development of WatBird.
VI. Risk Warning
1. The crypto market itself is highly volatile, and the price of tokens may be affected by market sentiment, overall economic conditions, and competitor activities, leading to price fluctuations.
2. WATCoin is deeply integrated into the TON and GMEE ecosystems. If the overall development of the TON or GMEE projects is hindered or faces challenges, WatBird may be indirectly affected, thereby affecting its operations and user benefits.
