Economy
A new ERC20 token to power the weather data economy
New approach to crowdsourcing weather data.
WeatherXM creates an entirely new weather data economy that rewards the people who deploy and maintain weather stations. The WeatherXM Network token, $WXM, is currently implemented in Polygon mumbai testnet as an ERC20 token rewarding the closed beta user group.
Compatible weather stations are rewarded for sharing local weather data based on a unique and fair algorithm. The rewards algorithm takes into weighted consideration among other dimensions the station’s location and quality of the transmitted data.
Anyone can join our beta closed user group by purchasing a compatible weather station
Location
Weather station from a rural location will earn a higher reward compared to one situated in a densly covered area.
Quality of Data
Weather data will be validated against near by stations, 3rd party reanalysis & satellite data and evaluated for their overall quality using machine learning models.
Burn & Mint
Token Burn and Mint Equilibrium (BME)
Token Burn and Mint Equilibrium (BME)
The $WXM token is designed to distribute the value accrued by commercial use of the WeatherXM data to the Network participants. WeatherXM station owners get rewards in $WXM and customers interested in using the Network’s services or data have to acquire and burn $WXM in return.
In other words, there is supply (new issuance) and demand (token burn due to commercial uses of the Network’s data) for $WXM, and an equilibrium point will be reached eventually.
Supply
WXM Token Distribution
Community Rewards - 55%
Every day, each dataset produced by each WeatherXM station will be validated (for quality, location, availability, etc) and will be rewarded with tokens according to the rewards mechanism.
Ecosystem Development - 10%
Reserved for special community-related projects, aligned with the vision of WeatherXM as we prepare for DAO conversion.
Liquidity Bootstrap - 5%
Liquidity Pool(s) for token exchange management.
Company & Investors - 30%
Company core team and investors following a linear 10-10-80% vesting schedule of 3 years.
Community Contribution
Tokenomics Community Feedback Process
Tokenomics Community Feedback Process
We invite you to contribute and influence the direction of the WeatherXM project.
Read the Whitepaper and share your views, concerns and improvements in our Discord server or use the form below to send feedback directly to the team.