Frequently Asked Questions
What is World Mobile?
World Mobile is a decentralised mobile network provider that aims to "connect the unconnected". Many parts of the world are too poor and lack the infrastructure to make it profitable for traditional telecommunication companies to expand their service there. This is especially true in many parts of Africa. This means almost half of the world's population remains without access to the internet, or have to pay exorbitant fees to access it.
World Mobile aims to bridge this gap and provide an affordable mobile and internet connection to those currently unserved. Its infrastructure will be decentralised and managed by people all over the world. A network by the people, for the people.
For more information on the mission of World Mobile, watch this video: World Mobile — Smart Village: Connected
What is World Mobile Token?
Financial incentives in the form of a cryptocurrency token, World Mobile Token (WMT), are in place to encourage people to run the World Mobile infrastructure. This WMT can be bought and sold for real world money, and is also what is used to purchase telecoms services e.g. internet access by service users. Individuals who run the infrastructure that the World Mobile network runs on (Earth Nodes, Air Nodes, Aether nodes) earn WMT. Individuals who do not wish to run their own infrastructure can still earn WMT by delegating their WMT to operators running the infrastructure.
As the network gains traction, the value of the World Mobile Token will increase. With a target market of over 4 billion people, this project has huge potential.
What are Earth Nodes?
Earth Nodes are the backbone of the World Mobile network and process all transactions on the world mobile blockchain. Earth Node operators secure the network and earn WMT as per the tokenomics model. Since the World Mobile network is based on the sharing economy, as the network grows so do the rewards. [World Mobile]
Earth Nodes operate the core login of the World Mobile Chain system. These nodes are also called the brain of the system, just like how the CPU is called the brain of the computer. Earth Nodes can operate from anywhere in the world. Earth Nodes are used to validate and secure the network.
[World Mobile 101]
For more information about the other infrastructural components that run the World Mobile Network, watch this video or read this article
What is staking/delegating?
The terms delegating and staking can be used interchangeably
Not everyone has the means, time or will to run a World Mobile Earth node; and this is perfectly fine, as only a relatively small number of Earth node operators are required to run the network.
For those who do not wish to run an Earth node, they can earn WMT by delegating (or staking) their WMT to an existing Earth node. Earth nodes are selected to process World Mobile network transactions by an algorithm. One parameter that increases the chance of an Earth node being selected to process World Mobile network transactions is the amount of WMT that has been delegated to it. The more World Mobile network transactions an Earth node processes, the more WMT it earns. Earth node operators will then reward delegators a share of their profits in proportion to the amount they delegated.
Think of delegating like a vote of confidence. The more WMT you delegate/stake to an Earth node, the more likely it will be selected by the network to carry out network operations. It is important to note; you are not giving away your WMT when you delegate - you are simply endorsing that network operator, and your vote of confidence carries more weight based on the amount of WMT you are delegating. Your WMT stays in your wallet, in your possession, the entire time, and there is no risk of losing it.
Why should I stake my WMT?
To earn a % return on your WMT. This is NOT interest. It is a reward for you helping to secure the network.
If you delegate to an Earth Node that is not run properly, you will earn less WMT, because it will be processing less World Mobile transactions. Therefore, people are incentivised to delegate to high quality nodes that are reliable and run effectively. This is the whole purpose of the staking system - it is an incentive for nodes to be run properly, and it allows WMT holders to decide which nodes they deem to be high quality. This is why it is called stake; what is being put at stake is the amount of WMT you earn as part of staking rewards. Higher quality, better performing nodes will reward you with higher amounts of WMT, more consistently.
How do I know which Earth node is best to stake my WMT with?
The majority of Earth nodes will be run effectively. Running an Earth node requires financial resources, so Earth node operators do not want to waste money; they want to maximise their profit-earning potential. For this reason, the % WMT returns you earn is likely to be similar regardless of which Earth node you stake with.
The key things to look out when choosing to stake to an Earth node are:
Nearly 100% uptime
Strong security features
Trustworthy and technically competent team who are ambitious about the project and looking to run their node long term
Competitively low fees (the % of profit the node operator chooses to keep for themselves)
A higher amount of WMT staked to the node increases the chance of you consistently earning WMT
As long as these conditions are fulfilled, you will earn the maximum amount of returns on your staked WMT.
Once Earth Nodes are released, they will be ranked by these technical parameters and the expected % return on your WMT by staking with them. Selecting between the highest yield, highest quality, best performing Earth nodes will be hassle-free.
What sets pools apart will be more down to other unique selling points that appeal to your personal preference. Examples include:
Pools donating a portion of profits to charity
Pools ensuring their infrastructure is powered by renewable energy
Unique incentives such as NFT rewards to delegators
Strong brand identity
Pool is operated by someone you want to support e.g. relative, friend, content creator
Pools may reinvest a portion of their share of profits in a myriad of ways that may lead to greater incentives to delegate to them
As more documentation detailing the specific details of Earth node operation is released, other factors to consider when selecting an Earth node to delegate to may come into the equation.
How do I stake?
Earth nodes are yet to be released. Follow our social media channels for an announcement for when you will be able to stake. We will release detailed instructions on how to stake with us closer to the time.
To earn staking rewards on your WMT until then, you can stake to public pools operated by the official World Mobile team, accessible from your World Mobile vault.