WAWLLET secures $35 million worth of Tokens for listed Venture Capital firm in pre-sale of their new WIN Tokens

World’s first multi-asset wallet and personal financial passport launches ICO

Nicosia, 23 January 2018 – WAWLLET will launch an ICO for up to 89 million of its WIN Tokens at $3 USD per Token on 29 January, including a reservation of $35m USD worth of Tokens for issuance (with a lock-in period of up to 18 months) pursuant to an agreement with an EU listed Venture Capital firm. 44 million Tokens will be available on the Public ICO, with 45 million Tokens available in a VC and Hedge Funds session.

WAWLLET is the world’s first multi-asset wallet and personal financial passport. It connects people, banks and financial services, both traditional and new. WAWLLET provides a single dashboard view of FIAT and digital assets, letting users transfer between them instantly, wherever their accounts or assets may be in the world.

Mihail Lala, Founder, WAWLLET, commented:

“As cryptocurrencies become more prominent and personal online banking thrives, the world needs a secure multi-asset wallet. I am delighted to launch our ICO following the support of a listed Venture Capital firm as it proves the demand for this offering, giving us the confidence that our model is solid and much-needed. We have seen encouraging interest in our WIN Tokens from other sources too, so much so that our pre-sale session achieved capacity within less than 36 hours and we have reasons to believe that the Hedge Funds and VC session will soon sell out as well”

The ERC20 compliant WIN Tokens sale will be launched on 29 January and will be used as the exclusive payment method within the WAWLLET platform and for the company’s accredited third-party providers. The WIN Tokens have an implied settlement value mechanism that rewards their early purchasers through the ICO, with WAWLLET guaranteeing a settlement value for each WIN Token which is the highest of:

  • USD 9.00 (Nine U.S. Dollars); or
  • The ETH Market Value (ETHMV) at the time of the relevant transaction, multiplied by the ETH Attributable Rate (ETHAR), multiplied by three; or
  • The BTC Market Value (BTCMV) at the time of the relevant transaction, multiplied by the BTC Attributable Rate (BTCAR), multiplied by three; or
  • The WIN Token market value at the time of the relevant transaction.

With the above described mechanism, WAWLLET guarantees that in the event that the Token becomes available at a retail price below USD 9.00, WAWLLET will provide the user services at a minimum rate of USD 9.00 per Token. On the other hand, while the WIN Token Settlement Value is related to the Bitcoin and Ether rates, if these cryptocurrencies increase in value, the WIN Token Settlement value will increase its value proportionally. In case Bitcoin or Ether decrease their value, the USD 9.00 mark will secure the token Settlement Value.

Full details of the WIN Tokens can be found in the company’s White Paper at www.wawllet.com

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