The past 2 months have been eventful for the project — from audits, listings, AMAs, and to community contests. In just this short period of time, World was able to set-up the foundation moving forward as the first decentralized escrow-based digital marketplace.
Last February 6, the World team has officially on-boarded 3 additional developers to help with the marketplace’s progress; with two developers specializing in frontend and one developer specializing in UI/UX. Together with our full-stack lead developer, the World team has been able to work more efficiently while meeting our roadmap milestones far earlier than expected.
With gas fees rising, the World team felt the need to provide a more accessible gateway for the community to trade World tokens without paying outrageous gas fees on every transaction. In a mere 5 days, the World team was able to come up with an audited gas workaround, or what we call “WorldSwap,” which minimizes gas fees by around 25% versus normal UniSwap fees for World Token trades.
Gas limits are higher on the token contract because of the redistribution function, enabling the frictionless staking feature. In order to shave off the 25% of gas, the World team redirected the 3% tax to a smart contract that would manually redistribute the rewards periodically rather than on every transaction. They still accrue on every transaction that goes through the swap contract; the only difference made would be when distribution happens.
Check it out here: swap.worldtoken.network/#/swap
Binance Smart Chain Integration
As another way of addressing the rising gas fees, the World team added support for Binance Smart Chain (BSC) via Burgerswap and a custom bridge solution. BEP20 World was then listed on PancakeSwap to give the community more flexibility when trading World. Since then, World tokens have been available on both chains and are exchangeable 1:1 through the bridge.
This integration benefited the community with 98% less fees, which led to more tokens purchased for the same amount and more rewards for everyone receiving tax incentives. A full breakdown can be viewed here: twitter.com/worldtoken_/status/1362258037910753281?s=20
Ultimately, our integration increased the project’s traction, accessibility, and support from the World community.
It’s no secret that Centralized Exchange (CEX) listings are one of the milestones crypto investors are more excited about. As the team’s way of innovating, the World team has partnered up with BitMart to list World as the first token with full tax functions on a CEX. In other words, trades on BitMart count as taxable transactions, which are then redistributed to World’s related parties — a first for any token.
This was swiftly done because World already had the aforementioned swap contract created. This allows BitMart to send the accrued tax proceeds every month in order to support frictionless yields.
World’s listing with BitMart serves as the first stepping stone for future CEX listings, while proving the team’s adaptability, creativity, and flexibility.
Trade World here: www.bitmart.com
A great project should come with a jaw-dropping website, and World did just that. Over the past few weeks, the development team also worked on a sleeker look for the World website. From sweet graphics, smooth animations, World marketplace, tokenomics, to the 3% transaction tax — we’ve got you covered.
See for yourself here: https://worldtoken.network/
Just a few nights after the website upgrade was released, the team announced that the World Marketplace Testnet would be dropping this March 2021. This caught our community by surprise as Marketplace developments were only expected by mid-April, according to World’s own initial roadmap. As of March 15, marketplace contracts are nearly finished, UI is being polished, with internal testing and external audits next in line.
See the official announcement here: https://twitter.com/worldtoken_/status/1369259672067334145?s=20
Another surprise the World team announced was the integration of NFTs in V1 of the World marketplace, as opposed to the original plan of integrating them in V2. With the wide adoption of NFTs unfolding before our very eyes, it was the clear choice to make NFT integration a necessity for the V1 to capitalize on this emerging market.
With our public testnet dropping this March, this effectively puts the World team over 1 month ahead of the projected roadmap. It’s amazing how a dedicated team mixed with passion can fuel a project to greater heights.
Of course, the work does not stop here. The past months serve as a testament of what the World team can achieve in such a short period. In the following months, the team is dedicated to continuously innovate, engage, deliver everything and more, all for the community.