$WXM Token
Purpose and Utility
In order to enable the weather data ecosystem, WeatherXM Network has issues an ERC20 token called $WXM.
- $WXM is the governance token used to govern the WeatherXM Network. $WXM grants its holders voting rights.
- $WXM is also used to acquire licensing rights on the Network's data.
The total supply of $WXM is 100,000,000.
30% of $WXM tokens have been allocated to early Network supporters for their contributions to the Network, such expertise, research and software code.
Launch Day
The Token Launch Day is 30-May-2024. This is the day that the station owners started receiving $WXM on the Arbitrum One mainnet.
Token allocation
The tokens are allocated to various participants of the Network as follows. The intention of the allocation is to provide governance rights to the people that have supported the Network development as well as people who contribute data to grow the Network.
| Allocation | Usage | Details |
|---|---|---|
| 52m | Station rewards | 14,246 tokens will be distributed to station owners every day for providing data to the Network. |
| 3m | Beta testers | 3m tokens will be distributed to station owners that participated in the Network during its beta phase. |
| 10m | Treasury | 10m tokens are reserved in the Association's treasury. They will be used to support the WeatherXM ecosystem development. |
| 5m | Market supply | 5m tokens will be provided to token exchanges as a way to allow other interested parties to join the WeatherXM ecosystem governance and/or license data |
| 30m | Initial supporters | 30m tokens will be allocated to initial supporters of the project |
Locked tokens
- Treasury tokens will be locked and they will be unlocked linearly during a 5 year period, starting from the day of the token launch.
- Initial Supporters' tokens will be locked and they will be unlocked during a period of four (4) years, linearly with one year cliff.