Today we will describe in a synthesized form, how the WaykiChain underlay-based three-token economy model (WICC) works, it is composed of the WaykiChain WICC public blockchain assets, the WUSD stablecoin and the WGRT governance coin. The mutual promotion and balance of the three different types of a token can provide the whole stablecoin system with the strongest risk resistance, manageability and development potential. The relationship and functions of the three tokens can be summarized in the following chart.
WICC cryptocurrency token
WICC is tokens consumed in WaykiChain operations. WaykiChain users can use WaykiChain applications and functions by consuming their WICC. For better understanding, WICC can be compared to a type of fuel.
The minimum WICC trading unit is eight decimal places. Each WICC will be linked to a corresponding voting right. WICC holders can participate in the election of the ledger node (self-recommendation is allowed). Each voting user can get an identical interest as a return. Please refer to section 2.2 for more details.
WICC attribute declaration
WICC is tokens only used and circulated in WaykiChain applications. WICC itself has no fiat currency attributes. WICC can be obtained through mining, voting, subscription, or transactions with other holders, which means that WICC receives trading value through listing on exchanges and trading with other cryptocurrencies. However, this does not imply that WICC itself has fiat currency attributes and value.
Consulted source.
-WaykiChain - WICC white paper