Q&A: Reserving and buying WMT

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1. When can I buy WMT?

On July 4 at 11 a.m. UTC, you can reserve tokens for weeks 0-5 and enter the queue to buy. The sale will officially open on July 5 at 11 a.m. UTC. You’ll receive an email when it’s your turn to complete your purchase. You’ll have 24 hours to do so.

2. Which countries can participate?

Argentina, Australia, Bahrain, Brazil, Chile, countries within the EU, India, Norway, Russia, Singapore, South Africa, Switzerland, Turkey, UAE, UK, and Vietnam.

3. Can the US participate?

Not at this time.

4. How do I reserve and buy WMT?

You’ll need ADA, BNB (BEP2), BTC, DAI (ERC20), or ETH to purchase WMT. ETH and DAI (ERC20) also require the wallet address your sending funds from. Make sure that you don’t send funds from a shared address.

  • Create your private vault.
  • Complete KYC (you’ll need proof of ID, proof of address, and face verification).
  • Reserve your tokens and enter the queue to buy on July 4 at 11 a.m. UTC. You’ll be able to reserve for weeks 0-5.
  • Get notified when it’s your turn to complete your purchase.
  • Complete your purchase within 24 hours. (It may take some time to receive your payment as it takes several confirmations on the network.)
  • Receive a purchase confirmation.
  • Receive your tokens after the sale closes on August 16 at 11 a.m. UTC and after the TGE ends.

5. I’ve created a vault, now how do I complete KYC?

Unlock your vault and complete the onboarding instructions. To complete KYC you’ll the following:

  1. Proof of ID (national ID card, passport, or driving license)
  2. Proof of address (utility bill, bank statement, rent agreement, or tax bill)
  3. Face verification (take or upload a photo)

For extra guidance, watch this how-to video.

6. I’ve completed my vault, KYCed, and added my Cardano address. Is there anything else I need to do?

Nope! You’re all set to go. Just be sure to log into your vault and be ready to reserve tokens on July 4 at 11 a.m. UTC.

7. I can’t log into my vault.

Try logging in from the same device and browser you created your vault on. Be sure to keep your passphrase and vault seed somewhere safe — both offline and online. If you’re still experiencing issues logging in, contact [email protected].

8. How much WMT can I buy?

  • Week 0 - $2K (USD)
  • Week 1 - $100K (USD)
  • Week 2 - $250K (USD)
  • Week 3 - $500K (USD)
  • Week 4 - $1M (USD)
  • Week 5 - $2M (USD)

Week 0 is limited to 25% of the total public sale tokens.

9. What is the minimum I can buy?

The minimum you can buy each week is 1000 WMT ($200 USD).

9. How does the queue work?

On Sunday, July 4 at 11 a.m. UTC, reservations will open on a first-come-first-serve basis. Once logged into your vault, you’ll input your desired amounts for weeks 0-5, and enter the queue. You only have to enter the queue once. That’s why it’s so important to be signed in to your vault at 11 a.m. UTC and ready to go. Your spot in the queue will determine when you’re emailed to complete your purchase each week. You’ll receive an email letting you know you’ve entered the queue and your purchase ID number.

Once the sale opens on July 5 at 11 a.m. UTC emails will be sent out to invite each person in accordance to their spot in the queue to complete their purchase. Since this email depends on where you stand in the queue it may arrive at any point during the sale week.

Once you receive the “Complete reservation” email you’ll have 24 hours to complete your purchase for that sale week. If you miss your spot or the time runs out, you’ll go to the back of the queue for that week. This may mean week 0 sells out before you reach the front of the line, but don’t worry, we’ll reset you to your original queue number for the following weeks.

10. How does the queue work if I enter in Week 0 but it sells out? Do I get moved automatically to week 1?

If Week 0 sells out then you’ll move to week 1, and if you reach the front of the line, you’ll receive an email to complete your reservation within 24 hours.

11. Do I only have to queue once or do I have to queue for each week?

You only need to queue once, on July 4 at 11 a.m. UTC. You’ll be able to reserve for weeks 0-5 granted they are all still available. Week 0 is capped at 25% of the total public sale tokens.

12. Which wallets can I send ADA, BNB, BTC, etc. from and which wallets can I receive WMT?

To purchase WMT you need a Cardano wallet, MetaMask, Trust Wallet, Exodus, or any privately owned wallet. You then use your private wallet to send ADA, BNB (BEP2), BTC, DAI (ERC20), or ETH to the address provided. To receive tokens, you need a Cardano wallet that accepts native assets like Daedalus, Yoroi (Shelley-era), or AdaLite (Shelley-era). ETH and DAI (ERC20) also require the wallet address your sending funds from. Make sure that you don’t send funds from a shared address. We do not accept any exchange wallets.

13. How does staking work?

We will be announcing how the staking protocol works in the near future, along with subsequent documentation.

14. Why is the queue first-come-first-serve?

In order to not overwhelm the system, we have a queue.

15. What does the reservation screen look like and what does it do?

The reservation screen is where you choose the desired amount of WMT you want for each week. It will show you the minimum and maximum you can reserve for each week and the exchange in USD. Once you click RESERVE you’ll secure your spot in the queue. So it’s critical you log into your vault on July 4 and are ready to go at 11 a.m. UTC.

16. What if the amount you send is not enough to complete the purchase

You’ll have to pay the remaining amount within your 24-hour window; otherwise, your purchase will not be guaranteed.

17. What if I send more than is needed

You’ll complete your purchase, and the extra funds will be returned to you minus handling fees once the TGE is over.

18. What if I miss the 24-hour window?

You’ll be requeued, and if you reach the front of the line, you’ll receive an email to complete your reservation.

19. What if my payment is received outside of the 24-hour window?

You’ll be requeued, and if you reach the front of the line, your payment will be used to complete your purchase at the updated conversion rate.

20. What if the amount I sent isn’t enough to complete the purchase?

You’ll have to pay the remaining amount within your 24-hour window; otherwise, you’ll buy only the amount of WMT you paid for.

21. What if my payment is received outside of the 24-hour window and the new conversion rate means I don’t have enough funds?

You’ll have to pay the remaining amount within your 24-hour window; otherwise, you’ll buy only the amount of WMT equivalent to the updated conversion rate.

22. What if I send more than is needed?

You’ll complete your WMT purchase, and the extra funds will be returned to you minus handling fees once the TGE is over.

23. Can I cancel my reservation?

Yes, you can cancel your reservations at any time. Simply click “CANCEL” instead of “COMMIT”.

24. Can I cancel my purchase after I send the payment?

You can only cancel before we receive the payment. Once payment is received it is non-refundable.

25. When do I receive my tokens?

You will receive your WMT after the public sale closes on August 16 at 11 a.m. UTC and the TGE ends. This may take some time, so we thank you for your patience in advance.

26. Please delay the token sale till the market recovers.

We’re in the business of connecting the unconnected and we cannot delay bridging the digital divide any longer. We’re in a privileged position to have an entire country waiting on our services and giving us the go-ahead to get started — and we can’t wait to start rolling out across Tanzania!

27. What happens if the market drops/increases? Can I increase/decrease my amount?

If you want to change the amount of your reservation you can cancel the reservation and create a new one but you will lose your position in the queue. If you are concerned about market fluctuations we have allowed payment in the stablecoin DAI.

28. Can I make multiple reservations per week with multiple currencies?

No, you can only make one reservation per week and pay with one currency per reservation. Meaning, Week 0 - one reservation, Week 1 - one reservation, and so on. However, you can choose a different currency for each week.

Once it’s your turn in the queue, you’ll see the estimated conversion rate for ADA, BTC, ETH, BNB, and DAI and can choose which currency you want to use. Once you choose the currency and press COMMIT, you’ll lock the conversion rate and will have until your 24-hour window is up to send funds to the address provided. Do not wait till the last minute as it may take some time to receive as it goes through several confirmations.

Once your payment is received, you will have officially purchased WMT and kickstarted the sharing economy! Let’s reboot telecoms and connect the unconnected.

Helen Towers
Helen Towers is a content creator and copywriter with over a decade of experience making brands matter to the people who matter to those brands. Creating for a wide variety of platforms with an even wider variety of clients, she’s at her happiest when working with others who care about results, relationships, and doing good.