Frequently Asked Questions (FAQs) about Wayru Network.
It is of no news that Wayru Network is building something massively helpful and innovative for people in terms of providing affordable and fast network service. The project has not shied away from making sure its intention is known to everyone and how they intend to carry it out. The team has been doing a lot of work to bring this to reality, and it is now closer than ever. Although there are still some tiny details that are still not clear to those coming across the project for the first time.
Wayru is a project that is built to change the Internet access provision game as it were, giving people the opportunity to share at affordable prices. The current ISPs (Internet Service Providers) are all after how to maximize their profits and most of the time do not consider a plan to benefit users to their detriment. With Wayru, ownership of the Internet infrastructures will be in the hands of willing people.
The project is a new ISP with distributed ownership. It becomes easy for people who are willing to take the opportunity to own a piece of their networks and share it with others.
If you are just coming across the project and looking into earning crypto through Wayru Network, these are the probable questions you might have:
What are ISPs?
ISP is short for Internet Service Providers. They sell Internet access and are responsible for the provision of services used for the easy use of the internet. They can be commercial, community or privately owned. The connection of smart gadgets to the Internet is made possible by ISPs.
How is WAYRU Network’s Model like?
There will be a series of antennas deployed by WayruNetwork with a fibre backbone to spread the Internet across a region, this will be the source of connectivity.
There will be a built hybrid network of Hotspots using fibre and cutting-edge radio fibre-quality mesh technologies operating in unlicensed spectrum to build gigabit networks rapidly.
These hotspots will be grouped into Hotspot Pools and each Pool will have a minimum of 1,000 Hotspots, these Pools will be tokenized. The tokenized Pools will be in such a way that the number of tokens in the Pool depends on the location of the Pool and the number of Hotspots in the Pool. The growth of the Network is directly proportional to the availability of token pools available for purchase.
WRU, ALGO, and USDC can be used to purchase Pool tokens. And they are staked automatically against the Network to earn rewards. Rewards are performance-based, WRU is earned based on the Pool’s Hotspots’ performance.
How about the Reward system?
Rewards = Income — Expenses
Income = Internet sales
Expenses = Bandwidth + Electricity + Location + Repair/Replace Treasury.
Rewards are paid in WRU Tokens after expenses to keep the Network running are deducted from the Internet sales. This reward is then shared between Wayru and Pool Token Holders in a 33.33% to 66.66% ratio, I.e. Wayru gets 33.33% and 66.66% of the rewards go to the Pool Token Holder.
It should however be noted that each Pool will have different performances, and the rewards may vary by location.
What is meant by performance and how is it measured?
Performance is in form of Traffic, and this is the number of megabytes transferred in the Hotspot by sending and receiving data packets.
It is measured by the megabytes consumed by users connected to the Hotspot. The longer the uptime and the higher the bandwidth, the more reward earned per megabyte.
What do I need to do to be a part of this?
A Hotspot needs five things to work: Electricity, Bandwidth, WiFi Hardware, a place to set it up, and an operator (person or entity in charge of setup and maintenance).
To be a Hotspot operator, you will need:
- At least one Genesis Device.
- Location or site for Genesis Device set up.
- An Active Fixed Internet Network.
- Access to Electricity 24/7.
- A Wayru Hotspot Operator account/wallet with $200 worth of WRU Tokens locked to activate your Hotspot.
How do I get a Genesis device?
There is a waitlist available for that, and the earlier the better.
The project is building a revolutionary product here, everyone deserves an affordable and fast internet connection and you can be a part of it.