Waltonchain H2 2020 Community Q&A

This article was first published on Stories by Waltonchain_EN on Medium
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Q1: How much money was raised through WTC ICO and sales? How much of these was used directly for WTC mainnet development, how much was used to fund hardware development which is the IP of Silictec, how much was used to fund nonrelated activities? Of the money used on Silictec R&D, will Waltonchain ever give benefit to WTC holders if the technology (eg smart box, clothes system) is sold to other companies like China tech giants? Or does Silictec and Mo Bing and team members keep the benefit for themselves even though the cost is from WTC community?

A1: Silictec and Waltonchain are two independent companies. In 2017–2020, Silictec provided paid core software and hardware support, child chain incubation and applied solution services. These are inevitable expenses for implementation and ecosystem expansion. Besides the above support for Waltonchain, Silictec also has other revenue from sales of software and hardware services and is fully capable of covering its own IP and R&D expenses. The products developed by Silictec for Waltonchain (RFID chip, miner chip and miner) belong to the core team members and partners of Waltonchain. Waltonchain uses a part of the product sales revenue for buyback and burn, and the rest for the Waltonchain ecosystem development.

Waltonchain ICO was 25,000 ETH.

Usage:

l R&D, testing and production of RFID tag chip: 15%

l R&D, testing and production of RFID reader-writer chip: 20%

l Design and test of RFID system scheme: 15%

l Development of application platform of project chain: 15%

l Salaries and rewards of R&D personnel: 20%

l Salaries of other personnel, and costs of operation, maintenance and materials: 8%

l Promotion of system application scheme: 7%

Besides ICO, Waltonchain spend 860,950 WTC from R&D Fund 0xE12E727deE902CBB27227F924003Dd421210cBB5

Q2: None of the child chains have been successful so far, what is the lesson to be learned ...

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Stories by Waltonchain_EN on Medium

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