7.0 Token Economics

WheelCoin is supported by two tokens that serve complimentary purposes.

On the one hand, the WheelCoin token ($WHL) itself does not have a supply cap, and is awarded as a reward for sustainable mobility to users. $WHL is continuously minted, proportionally to the CO2 emissions that users saved compared to moving on a private car. Therefore, a huge supply of WheelCoin would be positive, in the sense that, the more WheelCoin token units are minted, the more successful the game has been at incentivizing sustainable mobility.

This is not to say WheelCoin is necessarily inflationary, in that game mechanics encourage its spending (burning of) - for example, enhancing NFTs that increase the daily WHL caps for their owners, as explained in the previous sections.

On the other hand, the WheelCoin Foundation Token ($WFT) is the governance token behind WheelCoin. $WFT is supply fixed, and its ownership represents an interest in the health of the WheelCoin ecosystem. $WFT holders control the proceeds of WheelCoin NFT sales, and can decide what percentage of proceeds are allocated to an Ecosystem Fund under their control, or simply distributed among holders.

$WFT holders can vote, directly or indirectly, on key configuration parameters, like the amount of WHL that must be spent by users to mint NFT improvements, the prices of newly minted NFTs, and the percentage of NFT sale proceeds that are allocated to the Ecosystem Fund or simply distributed among holders.

The WheelCoin Foundation may need to be legally established to enact and implement decisions in accordance with $WFT holder decisions. This is another example of a decision that will be put to a vote to $WFT holders.

Finally, a key responsibility of $WFT holders will be appointing the official app(s) of WheelCoin. Initially only one such app will exist, but in the future, other frontends may be required, or the community may feel a need to remove the original promoters of the project as the canonical app, and appoint another company. Apps have special privileges in WheelCoin in that they are the points in which user activity is measured, and user rewards are accordingly minted.

Once the token issuing entity has been incorporated and the $WFT token has been generated, 75% of the revenues of vehicle NFT sales will accrue to the ecosystem fund, while the rest will be funnelled to the app operator to cover for their costs. $WFT holders can of course decide to tweak this percentage via governance proposals. Note that this means that most of the revenue of pay-to-win type users will be investable into the improvement of WheelCoin.