White Paper PROTOCOL 42 4.1.1. Token Contract 42 4.1.2. ICO Contract 42 4.1.3. Decentralized...

© 2018 WONO. All rights reserved. 1© 2018 WONO. All rights reserved.

White Paper

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E V E R Y T H I N G I S L I Q U I D

© 2018 WONO. All rights reserved. 2

Contents

CONTENTS 2

1. ABSTRACT 5

2. MARKET ANALYSIS 7

2.1. Main Markets 82.1.1. Realty 82.1.2. Transportation 92.1.3. Sharing Services 10

2.2 Markets by Regions 11

2.3. What Should Be Disrupted? 11

3. PRODUCT 13

3.1. Idea 13

3.2. What Is WONO? 14

3.3. General Competitor Comparisons 17

3.4. Product Review 183.4.1. WONO ENVIRONMENT 183.4.2. Entities 193.4.3. User 203.4.4. Roles 20

3.4.4.1. Vendor 213.4.4.2. Customer 213.4.4.3. Guarantor 213.4.4.4. Arbitrator 22

3.4.5. Proof of Identity 233.4.6. Reputation 243.4.7. Asset 25

3.4.7.1. Proof of Ownership 253.4.8. Rating 253.4.9. Deal 263.4.10. Common Model 27


3.4.11. Deal Lifecycle 273.4.11.1. Deal Signing 273.4.11.2. Deal Execution 273.4.11.3. Deal Termination 27

3.4.12. Deal Types 283.4.12.1. Direct Deal 293.4.12.2. Trusted Deal 293.4.12.3. Back-to-Back Deal 303.4.12.4. Chain of Deals 31

3.4.13. Rating 313.4.14. Deal Commission 32

3.4.14.1. Commission Rate 333.4.15 Arbitrage 333.4.15.1. Mechanism 33

3.4.15.1.1. Open Arbitrage 333.4.15.1.2. Automated Arbitrage 34

3.4.15.2. Penalization 34

3.5. Project Evolution 353.5.1. Socialization 353.5.2. Reports 35

3.5.2.1. Depersonalized Reports 363.5.2.2. Marketing Surveys 38

3.5.3. Data Analysis 393.5.4. Machine Learning 39

3.5.4.1. Recommendation Service 403.5.4.2. Automated Scoring Service 403.5.4.3. Predictive Analysis Systems 41

4. TECHNICAL MODEL 42

4.1. WONO PROTOCOL 424.1.1. Token Contract 424.1.2. ICO Contract 424.1.3. Decentralized Application Contracts 42

4.1.3.1. Main Decentralized Application Contract 424.1.3.2. User’s Storage 434.1.3.3. Asset Group 44

4.1.3.3.1. Asset Storage 444.1.3.3.2. Asset Factory 444.1.3.3.3. Asset Contracts 44

4.1.3.3.3.1. Abstract Asset 444.1.3.3.3.2. Physical Asset 454.1.3.3.3.3. Service 45

4.1.3.4. Deal Group 454.1.3.4.1.Deal Factory 45


4.1.3.4.2. Deal Contracts 454.1.3.4.2.1. Abstract Deal 454.1.3.4.2.2. Direct Deal 464.1.3.4.2.3. Trusted Deal 464.1.3.4.2.4. Back-to-Back Deal 46

4.1.3.5. Insurance Deposit Group 474.1.3.5.1 Insurance Deposit Factory 474.1.3.5.2. Insurance Deposit 47

4.1.3.6. Arbitrage Group 474.1.3.6.1. Arbitrage Contract Factory 474.1.3.6.2 Arbitrage Contract 47

4.2. WONO API 48

4.3. WONO CLIENT 48

5. TOKENIZATION MODEL 49

5.1. Main token metrics 49

5.2. Token distribution 50

6. PROJECT IMPLEMENTATION COST 51

7. MARKETING STRATEGY 54

7.1. The Launch 54

7.2. Scaling the Business 55

8. ICO DETAILS 56

8.1. Bonus Allocation 56

9. ROADMAP 57

10. TEAM AND ADVISORS 58

10.1. Key Personnel 58

10.2. Team 59

10.3. Advisors 60

11. CONCLUSION 61


1. Abstract

WONO is a decentralized P2P (peer-to-peer) platform for exchanging any property and services. Thanks to Ethereum blockchain and the Interplanetary FIle System (IPFS), the platform and community are decentralized, which allows users to interact without a middleman.

We are building a scalable platform that accomplishes the following:

• Builds a bridge between the world of cryptocurrencies and the real world, letting users freelance or hire freelancers, rent or rent out cars and real estate, exchange theater subscriptions or gym memberships, and more;

• Creates a horizontally structured market and redistributes income from middlemen directly to service providers, asset owners, and community members;

• Offers a new level of deal transparency, information accessibility, and trust among market players;

• Eliminates currency exchange fees and international transaction costs, reducing travel and business trip expenses;

• Solves the problem of the sharing economy taxation thanks to the use of WONO1 tokens;

1 According to common cryptocurrency legislation, token income is only taxable after conversion to fiat


• Introduces new blockchain deal formats, including deal chains and deals with trusted payments;

• Strengthens the role of community in system regulation using crowd deal insurance and crowd deal arbitrage.

This white paper includes the following aspects:

• Current condition and prospects of the sharing economy;

• Advantages of using decentralization technologies;

• The platform’s main features and our vision of its development;

• Technical implementation of the platform’s business ideas using blockchain technologies;

• Community creation, growth, and member trust-building strategies;

• ICO details, the platform’s tokenomics and token metrics.


2. Market AnalysisAround the world, a new wave of P2P, on-demand-driven businesses is disrupting established markets. Whether renting cars or homes or providing micro-skills in exchange for access or money, consumers are showing a genuine interest in a sharing-based economy.

The sharing economy includes numerous and varied services and business models that have branched out from the following original core groupings of services:

• Accomodation;

• Transportation;

• Services;

• Finance;

• Goods;

• Software and digital entertainment.

In 2015 PwC estimated2 that the sharing economy in 2014 generated a value of $15 billion compared to $240 billion by the traditional economy for the same sectors. By 2025, that amount is expected to reach $335 billion, which is equivalent to 50% of its total value.

2014 2025

400

300

200

100

0

Sha

ring

eco

nom

y (b

illio

ns)

335

15

2 https://www.pwc.com/us/en/industry/entertainment-media/publications/consumer-intelligence-series/assets/pwc-cis-sharing-economy.pdf


44%

19% 9%

respondents in USA are familiar with shared consumption

grown-up Americans are involved in sharing economy

Americans are active participants in sharing ecosystems

PwC found in their research that 44% of US consumers are familiar with the sharing economy and 9% are providers in the sharing economy ecosystem. The percentage of the US adult population who have engaged in the sharing economy transaction is 19%.

2.1. Main MarketsAccording Juniper Research3, the most promising sectors for a sharing-based economy are rentals (both customer and corporate), transportation, and services.

2.1.1. RealtyThe sharing of residential properties has become increasingly popular over the past four to five years. Much of it relates to the success of one of the industry’s largest players: Airbnb, which was launched in the United States in 2008. According to PwC, 6% of the US population have participated as consumers in the hospitality sharing economy, and 1.4% have participated as providers.

Juniper forecasted in 2016 that 5.3 million properties would be rented for residential stays in 2017, with naming United States, France, and the United Kingdom as the major markets for Airbnb. Despite the forecast failure, providers currently have more than 4 million listings around the globe, allowing users to book rooms or even whole properties in a variety of locations.

Airbnb is so successful because it’s rates are often cheaper than hotels. Busbud estimated that Airbnb properties are up to 60% cheaper than hotels in the same region4, although the average price advantage of Airbnb is around 20%. Consumers can also find properties that are located in private locations or that provide unique experiences.

In addition to the rise of B2C (business-to-consumer) space-sharing platforms, there has also

3 https://www.juniperresearch.com/researchstore/innovation-disruption/sharing-economy/sharing-economy-opportunities-impacts-disrupto4 https://www.busbud.com/blog/airbnb-vs-hotel-rates/

Americans’ involvment into sharing economy


been sustainable growth in the house swapping and home exchange segment.

Home exchange is simple and works best for those who have more than one property. Users earn credits when another member stays in their property. Then those credits can be used to stay in any other member’s property. For example, Jack let Kate stay in his villa in the Caribbean. With the credits Jack earned, he stayed in Will’s ski chalet in Colorado while Will goes to Sara’s condo in Thailand.

Credits

Credits Credits

Here are the most popular home exchange platforms in the United States:

2.1.2. TransportationWhile many traditional taxi services now offer apps for bookings, for the purpose of this research, we will only focus on private vehicles being used to disrupt the transportation industry, with drivers seen as contractors rather than employees.

Online ridesharing platforms have been successful due to their use of a large volume of vehicles driving around with a perceived spare capacity. By pressing the idea that drivers can make additional revenue and that users can help protect the environment (as well as receive an efficient on-demand service), these ride-sharing companies have garnered a significant uptake.

Probably the most well-known sharing economy company is Uber, the leading shared transportation provider, which had revenues of $3.4 billion in 1Q17 alone.

Alongside the rise of ride-sharing platforms the sustainable growth of P2P car sharing operators occurs.

Many studies show that car-sharing reduces transportation costs for a large segments of the population. In contrast to traditional car-sharing, P2P car-sharing allows car owners to convert their personal vehicles into shared cars that can be rented to other drivers on a short-term basis. This model helps improve the situation in which most privately owned vehicles stay

http://www.homelink.com/

https://www.ivhe.com/


Private car ownership Carsharing

idle more than 90% of the time. P2P car-sharing alleviates upfront costs and thus is more economically consistent with lower-density neighborhoods than is traditional car-sharing. As a result, P2P car-sharing provides a greater potential for car accessibility than traditional car-sharing. Several new service companies are dedicated to P2P car-sharing.

Below are the top car-sharing operators in the United States and Canada:

2.1.3. Sharing Services

Market analysts have forecast strong growth in the services sector. They have predicted that by 2027, the majority of the US workforce will be freelancers. About 50% of Millennial workers are already freelancing today.

n 2017 in the United States, freelancers were responsible for an estimated $1.4 trillion of the economy. If we compare that with 2016, we’ll see an astonishing increase of 30%. Currently, more than 57 million people in the United States work remotely, with the number going up every minute. In 2017, the total number of formally identified remote workers exceeded 57 million5.

5 https://www.upwork.com/press/2017/10/17/freelancing-in-america-2017/

2016 2017

2

1.5

1

0.5

0

The

cont

ribu

tion

of fr

eela

ncer

s ($

, tri

llion

s)

1.4

0.87

+30%

2014 2017

100

75

50

25

0

Free

lanc

ers

(mill

ions

)

57.553

+8.1%

(before November 2015 - RelayRides)

Freelancers’ contribution to the US economy Freelancers’ quantity growth in the US

https://www.getaround.com/

https://www.justshareit.com/

https://turo.com/


Here are some leading shared service providers:

2.2. Markets by RegionsJuniper has forecast that in 2022, revenue for shared economics platforms will be distributed by the following regions.

2%

5%

4%

13%

5%

14%

5%

Africa & Middle East

Rest of Asia Pacific

Indian Subcontinent

Far East & China

Central & East Europe

West Europe

Latin America

North America52%

2.3. What Should Be Disrupted?Physical assets can be used more efficiently, and less energy and materials are needed in our economy. Although the sharing economy addresses these issues, many experts criticize the sharing economy. They point to undesirable effects such as platform monopolies, privacy violations, exploitation of labor and unfair competition.

There are also trust issues. About 69% of Americans say they will not use the sharing economy company until it is recommended by someone they trust6.

That’s why we strongly believe in P2P ecosystems and a decentralized blockchain paradigm.

6 https://www.pwc.com/us/en/industry/entertainment-media/publications/consumer-intelligence-series/assets/pwc-cis-sharing-economy.pdf

Revenue by region

https://wedo.com/

https://www.freelancer.com

https://www.upwork.com/

https://www.taskrabbit.com/

https://www.thumbtack.com/


Today, shared economies suffer from a lack of trust, the fear of monopolies, expensive middleman fees, and uncertainty in the performance of obligations. Let’s see how WONO will resolve these issues.

Lack of trust Monopolies

High middleman

commissions

P2P Economy problems


3. Product

7 http://latdsurvey.net/pdf/Sharing.pdf

3.1. IdeaIn creating WONO, we were inspired by the home-exchange (house-swapping) concept. Few people are aware that the “Live Like a Local” slogan, later popularized by Airbnb, is originated with house swappers.

Airbnb is an icon of the sharing economy and, along with Uber, one of the most criticized companies on the market. The main pressure points, to name a few, are high middleman commissions (up to 3% for landlords and 20% for tenants) and a lack of trust between owners and renters.

The explosive growth of a shared economy after 2008 led several major companies to financial success, although initially, the income was expected to be distributed another way.

According to research by Latitude Research and Shareable Magazine7, there are four main reasons why sharing economies grow:

• Technology: Large-scale sharing communities exist only when they are based on Web and mobile technologies since they provide high-speed contacts between members and demand-supply balancing. Shared consumption, P2P rentals, and barters existed long before the Internet, although it’s obvious that twenty-first-century technologies allowed these models to scale globally and made sharing economies a significant part of the global economy;

• Ecological problems: The sharing economy is part of the sustainable consumption concept. Many people who consume collaboratively believe their choice is more responsible in the context of environmental protection. In other words, sustainable consumption is part of responsible living;

• Economic threats: Many experts predict a new global recession in the near future. Collaborative consumption leads to saving money, and it’s crucial during periods of crisis or a slowdown in economic growth. The idea of saving money doesn’t conflict with the contribution to society and the environment. Both these approaches are important to people taking part in sustainable consumption;


• Community: Online interactions and the social media revolution have broken down trust barriers and made people more open to the idea of sharing something with a stranger. The Internet helps build a worldwide community.

We strongly believe that blockchain technology will give the sharing economy a major boost that can be compared to the proliferation of the Internet and the accessibility of online payments.

According to leading experts on shared economies, a modern platform should do the following8:

• Simplify exchanges, build trust with unfamiliar people, and develop a global P2P market;

• Use the latest technologies to help improve the interactions among users in the real world;

• Involve qualified customers;

• Reduce middleman commissions;

• Minimize costs in multicurrency and international payments.

WONO isn’t a blockchain-based Craigslist or Airbnb. It’s a new paradigm of economic P2P interaction based on decentralization, transparency, mutual trust, reputation, and collective decision-making by members of the community.

Longstanding monopolies of several sharing economy giants have negatively influenced innovations. A non-disclosure information policy led to ratings non-transparency and a lack of fair compensation in cases of one-sided deal cancellations.

WONO provides not only a fully transparent asset rating system and community member reputations, but also an unrivaled mechanism of compensation payments based on crowd insurance.

We believe that WONO will become a new-generation P2P platform that is tech-savvy and scalable and will disrupt existing business models that have proved themselves ineffective and unfair.

3.2. What Is WONO?WONO offers the environment for renting and renting out tangible and invisible assets, as well as ordering and performing services based on Ethereum blockchain and the Interplanetary File System (IPFS).

The project’s aim is to arrange ideal conditions for a convenient exchange between users with minimal transaction costs, regardless of location.

8 Dubois, et al., 2014; Schor, 2014, 2015; Schor & Fitzmaurice, 2015; Schor et al., 2014


Asset exchange on offchain platforms

John(USA)

Diana(UK)

£ ----> $ exchange- 1-3%

- 10-25%commision

Operator 1

- 15-30%taxes

UnitedStates

$ ----> £ exchange- 1-3%

- 10-25%commision

Operator 2

- 15-30%taxes

UnitedKingdom

50-70% assetsvalue loss

WONO is a bridge between the cryptocurrency community and the real world. It allows consumers to use cryptocurrencies for physical asset rentals and the hiring of freelancers.

Asset exchange on single market blockchain platforms

John(USA)

Diana(UK)

- 1-5%commisionOperator 1

- 1-5%commision Operator 2

10-12%

Payment

Payment

Exchange-0.1-0.5%

Exchange-0.1-0.5%

assetsvalue loss

In most countries, tokens are qualified as digital assets, not money. Thus, all tokens earned on the WONO platform are not taxable until they are converted to fiat. That sets WONO apart from traditional sharing services where asset owners are obliged to pay taxes. WONO also has a huge advantage over existing blockchain-based sharing services that are focused on a


Asset exchange on WONO platform

4 components of a P2P economy which WONO deals with

John(USA)

Diana(UK)

1-5%

Single 1-5%Comission

assetsvalue loss

Spac

e

Transport

Misc Assets

S

ervic

es

single market segment (e.g., houses or cars), where users have to exchange earned tokens for other platforms’ tokens or fiat money.

The WONO platform is designed for several traditional sharing economy segments and freelancers. All tokens users earn renting out assets or performing jobs can be spent on the platform without any limitations. What’s more, users can exchange their assets or service directly with another user’s asset or service.


WONO focuses on the following:

• Space sharing: We combine P2P rentals (e.g., Airbnb) with the home-swapping concept;

• Transportation sharing: We use the Turo/Getaround model where a person can rent or rent out a vehicle for any desired duration;

• Miscellaneous assets sharing: Users can rent and rent out any assets in their possession (e.g., gym memberships, gadgets, instruments);

• Services sharing: We combine the Freelancer/Upwork model for remote jobs and TaskRabbit for micro jobs.

WONO’s key feature is using blockchain technology for the escrow function in all deals among users. We can thus ensure transparency of all transactions and guarantee that all commitments will be met. The marketplace’s “fuel” is the WONO token which serves for the following:

• All P2P payments on the platform as an internal currency;

• Transaction security as a reserve;

• Crowd insurance and crowd arbitrage.

3.3. General Competitor Comparisons

In the spreadsheet below, the WONO business model is compared with other blockchain-based projects. Significantly, none of the competitors deal both with physical assets and services.

Blockchain project

Deal typeDeal

cancellation insurance

Arbitrage

Direct deal

Trusted deal

Back-to-back deal

Chain of deals

Automated Open

WONOassets / services + + + + + + +

0rigin ProtocolCommodities and

property+ - ? - ? - *

Bee Tokenrealty + - - - ? - *

Develop [crypto]freelance + - - - - - -

Type codes:

+ - element is presented;

* - element is proclaimed and described, but not enough details are provided or it differs significantly from WONO;

? - element is proclaimed but not described;

- - no such element.

http://wono.io

https://www.originprotocol.com/ru

https://www.beetoken.com/

https://devcrypt.io/


3.4. Product ReviewHere and elsewhere:

• All sums on the platform are calculated in tokens;

• All calculations do not include mining transportation expenses;

• User: registered user of the platform. Each User profile is stored as an entity in the WONO User’s Ethereum smart contract;

• Asset: physical asset or a service offered by the User and stored in the Ethereum network as a smart contract;

• Deal: conditions of an Asset rental and payment management mechanism stored in the Ethereum network as a smart contract;

• Reputation and Rating: open field of User, Asset, and Deal entities that describes their qualities;

• Arbitrage: - deal cancellation dispute mechanism using decentralized voting, stored in the Ethereum network as a smart contract;

• Commission: platform operator’s reward;

• Security Deposit: sum in tokens, equivalent to a commission, which is locked in a Deal until it is terminated or cancelled;

• Insurance Deposit: sum in tokens, which is locked in a Deal by Deal Guarantors until it is terminated or cancelled;

• Deal Signing Date: date of Ethereum network block where the Deal was registered;

• Deal Execution Date: moment when Deal commitments start to be fulfilled.

3.4.1. WONO ENVIRONMENTThe WONO component environment lets any DAPP developer implement his own business ideas using the WONO platform’s capabilities.

E T

HE

RE

UM

NE

TW

OR

K

API CLIENTDAPP

WONOPROTOCOL

Write

Read

USERS

WONO environment


WONO offers its resources for third-party start-ups and lets them improve their businesses using blockchain technologies, boost the liquidity of their market segments and cryptonomics at large.

The WONO environment consists of the following three main components:

• WONO PROTOCOL: set of decentralized apps (Ethereum smart contracts as DAPP backend) implementing a WONO business model;

• WONO API: accelerator (DAPP caching service) of the WONO Protocol;

• WONO CLIENT: official client Web application (frontend DAPP) used to work with WONO API and WONO Protocol.

3.4.2. EntitiesAll entities of the WONO Protocol mentioned below are stored in the Ethereum network, and their properties are public, excluding information that the User marks as confidential, readable, and writable by himself or herself only.

The high level of platform data transparency results in a high level of trust and paves the way to the creation of a well-balanced market on the platform.

User

ETHERE U M NETWORK

WONOPROTOCOL

Assets/ProfilePublication

ETHEREUM ENTRANCEGAS PAYMENT

Gas back by WONO

Tokenswithdrawal by Vendor

It is obvious that the publication or updating of the User profile, Asset, or Deal in the WONO Protocol refers to costs of transaction in the Ethereum network. Once the User withdraws his or her first Vendor’s token transaction (rental fee, job payment, insurance, or arbitrage bonus), the platform compensates him or her for all expenses on the last entity publication transaction, providing a “gas back”.

The User can edit the profile fields, the Asset or the Deal before publication. The platform scoring engine can analyze the provided information and estimate the value of the User’s reputation and the Asset’s or Deal’s rating. Then the User can do further updates on the entity

«Gas back» common mechanism


and publish it. Other Users will see the updated information only after it is published, excluding the situation where two Users adjust the Deal’s conditions.

3.4.3. UserThe User entity in the WONO Protocol has the following functions:

• Connection:

• Between the User’s profile and the User’s Ethereum addresses;

• Between the User’s profile and Deals.

• Identification:

• Connection with profiles at individual ID services.

• Encryption:

• Data encryption mechanisms based on Ethereum keys.

• IPFS:

• Data writing into IPFS address.When registering a profile, a User must enter a minimum of two secret questions (stored unencrypted) and answers (stored encrypted). So if a User loses control of the Ethereum address, he or she can deactivate the Assets connected to the inaccessible User profile, paying an Asset deactivation fee to the platform: 1 Asset = 1 WONO.

3.4.4. Roles

The User can perform different roles at a time but cannot become an Arbitrator of his or her own Deal.

User

Customer

GuarantorArbitrator

Vendor

User in WONO platform

https://www.civic.com/

https://www.uport.me/

https://keybase.io/


3.4.4.1. VendorTypes of activities:

• Asset renting out;

• Job performing.

3.4.4.2. CustomerTypes of activities:

• Asset renting / Service order;

• Paying for Asset rental or Service;

• Asset/Service exchange.

3.4.4.3. GuarantorWhen signing a deal, both sides take the following risks:

• Discrepancy between declared and real Asset (job) quality;

• Violation of Asset rental or Service delivery conditions;

• Circumstances beyond a User’s reasonable control.

Guarantor confirms that the Deal will be successfully terminated without any problems, staking his or her tokens.

It’s necessary to understand that the Guarantor does not insure the Asset but rather the risk of a Deal cancellation. The platform doesn’t deal with Asset insurance issues or any related disputes.

The Guarantor stakes his or her own tokens only and guarantees that the affected party will get a compensation in the case of Arbitrage.

If a Deal is successfully terminated, the Guarantor gets his or her deposit and a bonus from the insurance part of the Commission.

The Guarantor can make a stake anytime after the Deal is signed.

Parties to a Deal as well as those who don’t participate in the Deal can become Guarantors.

While deciding to stake, the Guarantor has the right to see the following:

• Information about the parties to the Deal, marked as public and stored in Ethereum;

• Public part of Asset description, stored in Ethereum;

• Details of the Asset’s rating and the Vendor’s and Customer’s reputation.

The total insurance deposit reserved by the Guarantors can exceed the Deal’s value.


If no insurable event takes place, the Guarantor gets:

• his or her stake back;

• an insurance bonus.

An insurance bonus is calculated as:

Where:

• P - Guarantor’s bonus part;

• B - insurance part of the Deal’s Commission;

• D - quantity of tokens staked by Guarantor;

• Dtotal - total quantity of tokens staked by all Guarantors;

• Tend - Deal ending date;

• Tsign - Deal signing date;

• Tdeposit - date of staking by the Guarantor.

Minimum date’s unit of measurement - 1 second.

Scenarios of decreasing or annulment of insurance bonus payment are described in the Arbitrage section.

3.4.4.4. ArbitratorThe Arbitrator takes part in a Deal’s Arbitrage by means of security voting. The Arbitrator’s mission is to determine which party to the Deal should be fined and which one gets a compensation at the expense of the Deal’s guarantee deposits.

The Arbitrator stakes his or her own tokens only when voting during a Deal’s Arbitrage.

After evaluating the larger number of tokens staked by the Arbitrator to prove one of the parties in the Deal to be right, the Arbitrator gets his or her deposit and an Arbitrage bonus from the insurance part of the Commission.

The Arbitrator can make a stake anytime after the Deal Arbitrage has begun until its end.

The parties to the Deal cannot become a Deal’s Arbitrators.

( )—P =

B x DDtotal

Tendx (Tend )

— Tsign— Tdeposit

—


While deciding to stake, the Guarantor has the right to see the following:

• Information about the parties to the Deal, marked as public, is stored in Ethereum;

• Asset description, stored in Ethereum;

• Deal description, stored in Ethereum;

• Details of the Asset’s rating and the Vendor’s and Customer’s reputation.

Arbitrage voting has no limit for the amount of staked tokens.

After the Arbitrage ends, the Arbitrator gets the following:

• Voting deposit;

• Arbitrage bonus.

The Arbitrage bonus is calculated as:

( )—P =

B x DDtotal

Tendx (Tend )

— Tfirst— Tdeposit

—

Where:

• P - Arbitrator’s bonus part;

• B - insurance part of the Deal’s Commission;

• D - quantity of tokens staked by Arbitrator;

• Dtotal - total quantity of tokens staked by all winning Arbitrators;

• Tend - Arbitrage ending date;

• Tsign - date of the first vote of the Arbitrage;

• Tdeposit - date of token staking by the Arbitrator.

Minimum date’s unit of measurement - 1 second.

3.4.5. Proof of IdentityAnonymous deals on WONO are prohibited in order to not attract criminals to the platform. The User can limit access to some identifying information about himself or herself, although the Deal’s Commission depends, among other things, on the Deal’s parties’ profile transparency.

While registering a profile, if a User passes a KYC-control, the information that is crucial to the User is encrypted after the platform scoring unit approves it. Until its next update, it is non-readable and used only for compliance testing.


3.4.6. ReputationA User profile contains Reputation rating, which influences the size of the Deal Commission. User Reputation is calculated as an average value of the following scales from 0 to 100.

Transparency ActivityReliability Guarantee Arbitrage Cancellation Approval

Reputation

User scales:

• Transparency: availability of identification, background, and social information.

• Activity:

• Total Deal value;

• Average Deal value.

• Reliability:

• Amount of successfully terminated Deals.

• Guarantee:

• Amount of successfully terminated Deals where User took part as a Guarantor;

• User’s average guarantee deposit value.

• Arbitrage:

• Amount of successfully terminated Deals where the User took part as an Arbitrator;

• Average User’s arbitrage deposit value.

• Cancellation (negative weight):

• Amount of lost Arbitrages;

• Average lost Arbitrage value.

• Approval:

• Reviews and rating by other Users.

Reputation rating and scales value influence getting internal social statuses for the User. This gamificates platform processes.


3.4.7. AssetAn asset within the WONO Protocol has the following functions:

• Connection with Users and Deals;

• Connection with IPFS storage.

AssetIFPSStorage

VENDO

R

D EALS

Activedeal

Aspects of the Assets model within the platform are described below.

3.4.7.1. Proof of OwnershipAn Asset within the platform must have a clear connection with the User.

User

IFPSdata

Proofof ID

Ethereumaddress

Thus, an Asset must pass the proof of ownership procedure. Information that is crucial to the User is encrypted after the Platform scoring unit approves it and is non-readable and used only for compliance testing until its next update.

3.4.8. RatingAn Asset profile contains Rating which influences the size of the Deal Commission. Asset rating is calculated as an average value of seven scales from 0 to 100.


Asset scales:

• Owner’s Reputation

• Transparency:

• Proof of ownership;

• Asset’s media files availability (e.g., photos, videos).

• Activity:

• Total value of Deals;

• Average value of Deals.

• Cancellation (negative weight):

• Amount of Arbitrages concerning this Asset, lost by the Owner;

• Average value of Arbitrages concerning this Asset, lost by the Owner.

• Approval:

• Reviews and rating by other Users.

3.4.9. Deal

Transparency Activity CancellationVendor’s Reputation

Approval

Rating

Payment

Payment

DealAsset

Arbitrage

Vendor

Customer

Guarantee

A Deal within the WONO Protocol has the following functions:

• Registering parties’ financial responsibilities in the Deal signing stage;


• Token transaction control between the parties during the Deal’s execution and termination;

• Connection between the Users and the Asset;

• Connection to the Deal cancellation insurance mechanism;

• Connection to the decentralized Arbitrage mechanism.

3.4.10. Common ModelThe parties determine the sum, execution time, withdrawal frequency for the Vendor and then sign the Deal.

The Customer’s tokens in an amount necessary to meet the conditions of the Deal are blocked in the Deal (including the platform’s commission).

The Vendor can take the tokens out in certain amounts according to the withdrawal frequency determined in the signing stage.

The Deal can be cancelled before its term ends. The Arbitrage mechanism is described in details in the Arbitrage section.

3.4.11. Deal Lifecycle3.4.11.1. Deal SigningDeal signing consists of the following:

1. Deal draft creation by the Vendor;

2. Deal draft finalizing by the parties to the Deal;

3. Deal publication by the Vendor;

4. 100% prepayment, including Customer Security Deposit, by the Customer.

3.4.11.2. Deal ExecutionAt the signing stage, the parties to the Deal determine a period of time after which the Vendor can withdraw tokens. The accumulated sum must not be lower than the platform Commission. Deals that let the Vendor withdraw tokens more frequently must have a higher rating.

Once the Deal Execution starts, the following take place:

1. The Vendor’s Security Deposit is accumulated on the transitional account of the Vendor;

2. After every withdrawal period ends, the Vendor can take out tokens, excluding the Vendor Security Deposit.

3.4.11.3. Deal TerminationAt the moment of the termination of the Deal, according to its conditions, the following take


place:

1. 50% of the Customer Security Deposit is available for withdrawal by the Customer. Once the Customer withdraws it, the remaining 50% of the Customer Security Deposit is transferred to the platform, forming the first 50% of the Commission;

1. 50% of the Vendor Security Deposit is available for withdrawal by the Vendor. Once the Vendor withdraws it, the remaining 50% of the Vendor Security Deposit is transferred to the platform, forming the second 50% of the Commission;

1. Release the Guarantors’ deposits and distribute insurance bonuses to the Guarantors according to their deposit shares.

In case of a prescheduled termination, the Deal starts the Arbitrage process.

3.4.12. Deal TypesDeals are sorted by type, which determines the details of the creation, signing, finalizing, and execution of the Deal.

The amounts of the Commission are described in the Commission section.

75% of Comission

platform

Stakeback

STAKING

DRAFT

ETH

ER

EU

M

N

ET

WO

R K

Guarantors

ComissionComissionFormation

Operations with Vendor’s/Customer’s DepositsCreation

50% of Customer's deposit back

Accumulation of 100% Vendor's Deposit

100% Prepayment+

100% Customer's Deposit

50% of Vendor's deposit back

Insurance Bonus (25% of Comission)

Withdrawal consent notification

SIGNINGSTART OF

EXECUTION

CONTINUATION OF

EXECUTIONTERMINATION

INTERMEDIATETOKEN

UNLOCK

Finalization

Vendor

Customer

PublicationComission

Distribution

Deal Lifecycle


platform

Comission

PrepaymentWithdrawals

Deal

AssetVendor Customer

Present Prepayment

Future Withdrawals

Connection

Asset Transfer

3.4.12.1. Direct DealIn the case of a direct Deal, the Customer has enough tokens to rent an Asset from an Owner or order a service from a Vendor.

platform

Deal 1 Withdrawals

Deal 2 Full Prepayment

Deal 1 Lacking Prepayment Tokens

Deal 2RemainingTokens

Deal 1 Partof the Prepayment + Comission

Deal 1 Tokens

Deal 2Deal 1

AssetAsset VendorVendor Customer

Custo-mer

Present Prepayment

Future Withdrawals

Past Prepayment

Connection

Asset Transfer

User 1 User 2User 3

3.4.12.2. Trusted DealIn the case of a trusted Deal, the Customer does not have enough tokens to rent an Asset or order a service from a Vendor, even though he or she acts as an Vendor in another (previous) Deal that is already signed. The previous Deal’s value after the Commission is the same or higher than the current value of the Deal when the Commission is not included.If all conditions are met, then the following occurs at the moment of signing the current Deal:

1. Customer pays the full current Security Deposit for the Deal, using his or her own tokens;

2. In the case of having more tokens, the Customer pays part of the value of the Deal as a security;


3. The platform pays any tokens lacking for the Deal, using its own funds.If the value of the current Deal is less than the value of the previous Deal, then after the previous Deal terminates and the borrowed tokens are returned to the platform, the Customer gets the remaining tokens in his or her account.

In the case of the cancellation of a previous Deal, the following occurs:

1. The platform releases its own tokens for the current Deal;

2. The Customer is notified that he or she must pay to the remaining tokens for the current Deal no later than the date determined by the withdrawal period in order to avoid automated Arbitrage;

3. In the case of payment for the current Deal, its execution continues;

4. In the case of non-payment for the current Deal, automated Arbitrage starts at the date determined by the withdrawal period.

3.4.12.3. Back-to-Back DealUsers can exchange their Assets. In that case, the following occurs:

1. The platform automatically creates a Deal of the special back-to-back type in which both Assets are mentioned;

2. If a Deal demands an extra charge from one of the parties, it is paid at signing. The necessary tokens can be paid as part of a trusted Deal;

3. In that case, a trusted Deal Asset cannot be the same as in the current Deal.The Commission for a back-to-back Deal is calculated according to the greater Asset value,

platform

Comission

Deal

Asset 1

Asset 2Present Prepayment

Deal Termination

Connection

Asset Transfer

Customer B

Customer A Vendor A

Vendor B


although it must be significantly lower than the direct Deal commission in order to stimulate the exchange processes on the platform.

3.4.12.4. Chain of DealsA chain of Deals is a sequence of trusted Deals such as the following:

1. “A” as a Customer >> “B” as a Vendor;

2. “B” as a Customer >> “C” as a Vendor;

3. <...>;

4. “X” as a Customer >> “Z” (“A”) as a Vendor.

In case of Arbitrage in the chain of Deals, the following occurs:

• Penalization concerns cancel only the Deal;

• All of the parties’ subsequent Deals get their payments back, excluding transportation expenses, but without any penalties;

• All of the Guarantor’s next Deals get their deposits back, excluding transportation expenses;

• The platform releases its tokens from all subsequent Deals.

3.4.13. Rating

UserА

DealАВ

UserB

UserC

DealBC

UserZ/A

DealXZ/XA

UserX

Cloudof the deals

The Deal profile contains a Rating, which influences the amount of the Deal Commission. Rating doesn’t change from the moment of signing.

Deal Rating is calculated as an average value of four scales from 0 to 100.

Asset Rating

Vendor’sReputation

Customer’sReputation

Deal Conditions

DealRating


Deal scales:

• Asset rating

• Vendor’s reputation

• Customer’s reputation

• Deal Conditions:

• Deal value;

• Deal duration;

• Payment frequency (dates when Vendor can take out payments).

3.4.14. Deal CommissionDeal Commission is a basis for WONO platform income. This business model is the most transparent and understandable both for investors and Users.

A Commission has deposit nature partially. It guarantees that the party to the Deal who is responsible for paying will be determined accurately at each stage of the Deal’s existence.

A Commission indirectly regulates the amount and effective value of the tokens on the platform, increases the parties’ responsibilities and chances of a successful termination of the Deal.

A business model with zero commission may look attractive to Users, but there are the following risks:

• Token course control through its planned slump;

• Hidden Commissions;

• Lack of platform funding.

When the platform uses a Commission, the User is guaranteed the following:

• Payment on time;

• Preliminary asset scoring.

At the same time, the platform is guaranteed the following:

• Stable fiat money and cryptocurrencies flow;

• Token capitalization growth.

• Immunity to parasite Deals in which the parties, acting in collusion, make fictitious transfers and thus exchange assets for free using the platform’s resources.

A Commission consists of two 50% exactions from the Security Deposits of the Vendor and the Customer. In fact, both parties are interested in a normal Deal termination in order to get back the remaining 50% of their Security Deposits.


3.4.14.1. Commission RateIn general, the higher the Deal Rating, the lower the Commission. A minimum Commission is exacted from Deals with a >70% Rating, and a maximum Commission is exacted from Deals with a <30% Rating. Its peak values differ depending on the Deal type.

• Direct Deal: 1% to 5%;

• Trusted Deal: 1% to 3%;

• Back-to-Back Deal: 1% to 3% of the greater Asset value.

The insurance part of the Commission for payments to Guarantors and Arbitrators is 25%.

3.4.15 ArbitrageThe Deal can be cancelled at any time after Deal’s signing, prescheduled by any of the parties or by the platform.At the moment of cancellation, the Deal starts an Arbitrage deposit voting procedure.

3.4.15.1. MechanismAn Arbitrage occurs as follows:

• The cancellation initiator creates an Arbitrage and publishes it in the Ethereum network, providing a reason for the cancellation as a comment by the cancelling party;

• At the moment of creation, an Arbitrage contains one platform vote equivalent to 1 WONO for the opposite (not cancelling) party;

• Once the Arbitrage expires, the platform does the following:

1. Determines which party is guilty and has to be penalized and which party is affected and deserves compensation. The party that attracted more token votes than the other wins. If equal amounts of tokens are staked for both parties, then the cancellation initiator loses;

2. Exacts its Security Deposit from the guilty party and unlocks the Security Deposit of the affected party;

3. Transfers tokens from the guarantee funds to the affected party;

4. Distributes bonuses to the Arbitrators from the insurance part of the Commission.

3.4.15.1.1. Open Arbitrage

Features of open Arbitrage:

• Arbitrage duration: 24 hours;

• Arbitrator tokens are locked during the Arbitrage in order to avoid taking part of it in several Arbitrages at once;

• All voting tokens, including stakes for the guilty party, go back to the Arbitrators;

• During the Arbitrage, any User of the platform can vote for any of the parties,


providing a sum of tokens and a comment with it. Votes, stakes, and comments are stored in the Arbitrage and are readable at any time.

3.4.15.1.2. Automated Arbitrage

In case of an automated Arbitrage, the affected party is determined by the Platform. An automated Arbitrage starts if one of the following events occurs:

Deal Type Event Affected Party

Trusted DealFinancial inability of Customer due to

cancellation of the previous DealVendor

Features of the automated Arbitrage:

• Arbitrage duration: 1 minute;

• Platform has the sole right to vote.

3.4.15.2. PenalizationIt is obvious that a Deal cancellation before the blocking sum is accumulated on the Vendor’s transitional account in case that Vendor is determined to be guilty, lowering the Vendor’s Reputation.

Cases of financial losses and risks during Arbitrage, which determines Vendor guilt, are listed below:

Comission Formation

platform

Customer's and Vendor's Deposits lock

1 vote against initiator

100% of Affected Party's Deposit + Insurance Deposit

Arbitrage Bonus (25% of Comission)

75% of Comission

Voting tokensback

Guilty Party Determination?

Deal

Initiator

BEGINNING OF ARBITRAGE

Creation

Publication

Commenting

ComissionDistribution

AffectedParty

GuiltyParty

24 hrs

ARBITRAGEIN PROGRESS

END OF ARBITRAGE

Arbitrators

Vote VoteVote + Comment


• If there’s an insurance deposit but no blocking sum equivalent to the Security Deposit on the Vendor’s transitional account, the platform returns the insurance deposits to the Guarantors and doesn’t get a Commission;

• If there is an insurance deposit and the blocking sum of the Vendor’s transitional account is lower than the insurance part of the Commission, the platform returns a lower insurance bonuses to the Guarantors and doesn’t get a Commission;

• If there is an insurance deposit and the blocking sum of the Vendor’s transitional account is lower than the Security Deposit but higher than the insurance bonus fund, the platform returns the full insurance bonuses to the Guarantors and gets the remaining part of the Security Deposit as a Commission.

3.5. Project EvolutionThis section is dedicated to further project evolution and features that require a platform launch and the use of its basic solutions for several quarters.

By now, at the planning stage of the WONO project, we have the vision of mid-term and long-term project evolution. That lets us picture the entire business-scaling strategy and make valid conclusions about the project’s profitability.

Enriching the platform services, as described in this section, is a business concept that doesn’t need a detailed technical description.

3.5.1. SocializationIt’s obvious that the more registered Users the platform has, the more important social media integration becomes.

That said, we plan to convert an early-bird incentivization bounty campaign into a long-term support program.

3.5.2. ReportsA wide range of Deal types and Asset categories, the geographical spread of User audiences,


and the token’s versatility form the basis for marketing research. Creating reports for third parties can be a commercially-viable aspect of the platform.

A report is, by nature, an Ethereum smart contract that provides data and settles a transaction between a customer and the platform.According to the concept, if the User agrees to participate in a report-generating program, he or she provides his or her depersonalized data to the report-ordering customer and gets compensation from that customer. That allows companies to pay for specific data only, without the risk of being accused of personal data use.

3.5.2.1. Depersonalized ReportsDepersonalized reports are aggregated statistics involved in the research process without any connection to Users’ personalities. These statistics can be of interest to certain business entities.

Access to such data does not lead to WONO’s loss of market share. If the report-ordering customer is a potential offchain WONO competitor, the company would have the following limitations:

• Strong connection to a certain market segment (e.g., car sharing);


• Use of another payment system;

• High infrastructure and back-office costs.Many businesses are interested in user data source diversification in order to get the big picture of the process in the markets.

At the same time, the WONO concept lets users stay anonymous in marketing reports.

Due to the decentralized system’s transparency, depersonalized user data are partially available for anyone, although there are the following limitations that only the platform can override:

• Due to Ethereum’s transportation limitation, direct data aggregation can take a long time;

• User profile aggregation will be difficult, and only public entities will be available;

• The collected data will not include details such as search requests, unpublished entities, user behavior, and more.

platform

Reward

Encryptionand datapublishing

Data reception using IPFS hash

Tokens forreward

IPFS hash reception

Report readingkeys delivery

Reward amountrequest

Reward amountrecommendation

Rewardamount

Reportdata request

Reward recipient list +IPFS hash

IPFS hashreception

Orderingcustomer

Asset Asset

UserUser

UserUser

Configurator Reportcontract

IPFSSTORAGE

Posting data from form

In general terms, the report generation looks like the following:

1. The Ordering Customer, using the WONO search filter configurator, publishes a report smart contract and proposes a reward sum in tokens (platform can predict Users amount, that fits search query, with high accuracy);

2. The platform generates the report file using needed Entity profiles and formes the list of Users that need a reward;


3. The platform encrypts the report file by the Ordering Customer’s Ethereum key and places it into IPFS. The IPFS hash is recorded in the report contract field;

4. Publishing the link to the report file, platform also passes the list of reward payees to the report contract. Then the contract distributes User rewards and sends the report readiness notification to the Ordering Customer.

3.5.2.2. Marketing Surveys

platform

Reward

Encryptionand datapublishing

Research reading

Tokens forreward

IPFS hash reception

Research readingkeys delivery

Reward amountrequest

Reward amountrecommendation

Reward recipient list +IPFS hash

IPFS hashreception

Orderingcustomer

Asset Asset

UserUser

UserUser

Configurator Researchcontract

IPFSSTORAGE

Posting data from form

Any entity can order a marketing survey for which Users provide the needed information.

In general terms, the report generation looks like the following:

1. The Ordering Customer publishes a survey smart contract using the WONO survey form constructor, sets a reward budget, and proposes a reward sum in tokens for every new survey data portion;

2. The User willingly completes the survey form’s fields and sends the survey to the platform using the Ordering Customer’s encryption key attached to the survey contract;

3. The platform records a new data pack into IPFS and sends a reward to the User, using the survey contract method;

4. The survey will be paused once the reward budget is exhausted and resumed after Ordering Customer has deposited tokens to contract;


5. At any time, the Ordering Customer can access all the data collected and saved during the survey using his or her access key for reading from IPFS.

3.5.3. Data AnalysisBig data analysis systems can enhance the effectiveness of platform components:

Deals AssetsServices

• Behavior analysis for vast Users amount helps us understand the differences between geographical and social groups and determine their attitude about various types of Assets;

• Lexical analysis helps us understand the emotional aspects of Deal finalization, Asset use, and Arbitrage;

• Analyses of Deal insurance processes, Deal cancellation, and Arbitrage frequencies enable us to understand the connection between Deal terms and the risk of its cancellation. That can influence basic commission rates.

3.5.4. Machine Learning

Machine learning will improve the quality of platform elements and the competitiveness of the entire product.


3.5.4.1. Recommendation ServiceBy using machine learning, we can develop an Assets Recommendation Service that suits best the needs, interests, search requests, and behavioral profile of certain Customers. It can also help vendors find customers with a minimum risk of Deal cancellation.

After collecting primary data and teaching the analytical components of the system, the obvious next step would be to develop a Rating/Reputation correction module based on machine learning.Enhancing the linear transparency of a basic mathematical approach, the correction module will provide higher accuracy in scoring on the platform.

For example, if the User is looking for an apartment and is fond of Japanese culture, he or she might prefer a flat designed in that style and therefore be more likely to terminate the Deal successfully.

3.5.4.2. Automated Scoring Service


3.5.4.3. Predictive Analysis SystemsAfter collecting a large amount of data, teaching Recommendation Service and Automated Scoring Service, we can launch the system of predictive analysis, which will be able to do the following:

• Provide market dynamic forecasts;

• Prevent disputes and conflicts when using Assets;

• Analyze Deal insurance and Arbitrage.


4. Technical Model

4.1. WONO PROTOCOLThe WONO PROTOCOL is a set of Ethereum network smart contracts used for the implementation of the WONO business model.

4.1.1. Token ContractThe minimal ERC-20 contract, once emitted, is not supposed to be displaced.

4.1.2. ICO ContractAn ICO contract for fundraising is compatible with the wings platform ICO crowdsale protocol.

4.1.3. Decentralized Application Contracts4.1.3.1. Main Decentralized Application Contract

WONOPROTOCOL

U S E R S

WONO CLENT

WONO API

API

API

ET

HEREUM NETWORK

WONOPROTOCOL

WONOCONTROLLER

https://www.wings.ai/


The access point of the decentralized application stores contract addresses, which implement application logic. Once emitted, it is not supposed to be displaced.

It implements the necessary functionality for underlying contracts method calls and their address determinations.

4.1.3.2. User’s StorageA User’s storage stores the list of addresses that have ever interacted with the system as well as descriptions correlated with these addresses.

ETHEREUM NETWORK

WONOPROTOCOL

WONO USER

STORAGE

IPFSEthereum

Rating

IPFS

Ethereum

Rating

User’s description structure:

• Ethereum address;

• Rating;

• IPFS hash of the JSON file, containing the User’s profile;

• Symmetric encryption key (e.g., AES, Blowfish, or Camellia).

Rating is a numeric value that changes after completion of the User profile, disclosing personal data, performing Deals, guaranteeing, and arbitrating activities.

ETHEREUM PRIVATE KEY

U S E R P R O F I L E

The User profile details are stored in the decentralized IPFS file system. A hash of the saved file is stored in a smart contract. The User profile file is a JSON-formatted document that is stored in an open (uncodified) form and readable by all. Fields containing confidential (according to the User’s opinion) data are encrypted. Secured fields are encrypted on a client’s app side by a public key of the User’s Ethereum address and can be decrypted only by the User’s Ethereum address private key. Thus, a content signature is implemented.


Aside from confidential data, SHA1 digests of the data is stored in an open form. That allows the data that is relevant to the information to be checked, as determined by the User.

A symmetric encryption key is set once by the system and used for temporary storage of the profile drafts. That key is accessible through a public method, which can be called up from the User Ethereum address, from the main smart contract address and from the Asset storage smart contract address.While the User profile is being filled, a JSON-formatted file, symmetrically encrypted by the key mentioned above, gets into the IPFS. Thus, the profile draft will not be visible until it is checked, signed, and saved.

4.1.3.3. Asset Group

4.1.3.3.1. Asset Storage

Asset storage stores the list of all Assets registered in the system and descriptions that are correlated with their addresses.

ET

HEREUM NETWORK

WONOPROTOCOL

WONO ASSET

STORAGE

Asset description structure:

• Asset smart contract address;

• Rating.

It is used for checking Asset registration in the system so smart contracts implementing an identical interface cannot be passed off as Asset smart contracts registered in the system.

4.1.3.3.2. Asset Factory

The Asset factory creates and publishes Asset contracts in the network and updates the Asset storage smart contract once the new Asset is registered.

It will perhaps be updated to support new types of Asset contracts.

4.1.3.3.3. Asset Contracts

4.1.3.3.3.1. Abstract Asset

An abstract Asset Is an abstract entity that is non-instantiable.


It stores links to the Asset description located in a decentralized IPFS file storage and a minimal set of Asset properties:

• Owner’s Ethereum address;

• IPFS hash of a JSON file containing an Asset;

• “Takes part in a Deal” flag;

• “Lost” flag;

• Estimated price;

• Declared price;

As in the User profile, part of the data stored in the IPFS can be encrypted upon the User’s demand.

4.1.3.3.3.2. Physical Asset

• Inherited from an “Abstract Asset” smart contract.

4.1.3.3.3.3. Service

• Inherited from an “Abstract Asset” smart contract.

4.1.3.4. Deal Group

4.1.3.4.1.Deal Factory

• Creates and publishes Deal contracts in the network;

• Perhaps will be updated to support new types of Deal contracts.

4.1.3.4.2. Deal Contracts

4.1.3.4.2.1. Abstract Deal

• Is an abstract entity and is non-instantiable;

• Stores links to an Asset and Deal parties;

User

AssetIPFS

Ethereum


• Regulates payments between the Deal parties;

• Calculates and exacts Commission;

• Stores tokens locked for payment for Assets;

• Asset Ethereum address;

• Vendor Ethereum address;

• Customer Ethereum address;

• Commission settings;

• Payment settings;

• Deal duration;

• Withdrawal frequency;

• Withdrawals made;

• Withdrawals schedule;

• Guarantee deposits contract Ethereum address (if available);

• Arbitrage contract Ethereum address (if available).

4.1.3.4.2.2. Direct Deal

• All common Deal properties.

4.1.3.4.2.3. Trusted Deal

• All common Deal properties;

• Pledged Deal Ethereum address.

4.1.3.4.2.4. Back-to-Back Deal

• All common Deal properties;

• First exchangeable Asset Ethereum address;

• Second exchangeable Asset Ethereum address.

Commissionsettings

Customer deposits

Ownerdeposits

Withdrawalschedule

Paymentsettings

Dealduration

Deal

IPFS

Ethereum


• Сontains Deal Ethereum address;• Contains list of Guarantors;• Stores Guarantors’ tokens;• Stores dates of token stakes by Guarantors; • Distributes reward among Guarantors.

4.1.3.6. Arbitrage Group

4.1.3.6.1. Arbitrage Contract Factory

Creates and publishes Arbitrage contracts in the network.

4.1.3.6.2 Arbitrage Contract

4.1.3.5. Insurance Deposit Group

4.1.3.5.1 Insurance Deposit Factory

Creates and publishes insurance deposit contracts in the network.

4.1.3.5.2. Insurance Deposit

GuarantorGuarantor

Guarantor Deal

InsuranceDeposit

Arbitrator

Arbitrator Arbitrator

Deal

Arbitrage

• Contains Deal Ethereum address;

• Contains list of Arbitrators;


• Contains Arbitrators’ tokens;

• Stores dates of token stakes by Arbitrators;

• Distributes reward among Arbitrators;

• Penalizes Deal parties.

4.2. WONO APIWONO API is actually a caching service that speeds up reading and working with the WONO PROTOCOL.

WONO API features :

• Isolated from any possibilities of making changes to the entities of the WONO PROTOCOL;

• Supports RESTful / CRUD / SSO;

• Provides an opportunity to login with major social media platforms according to the protocol OAuth2: Google, Facebook, Twitter, Instagram, Vkontakte.

4.3. WONO CLIENTWONO CLIENT: a Web application (also adapted for mobile devices) designed to work with WONO API (read mode) and provide access keys to the WONO PROTOCOL (read/write mode).

WONO CLIENT Features:

• Mobile friendly;

• Doesn’t need any additional software to be installed.


5. Tokenization Model

5.1. Main Token Metrics

WONO is a utility token based on the ERC20 standard. It is used for all transactions among the participants of the WONO ecosystem (the WONO platform and DAPPs, based on the WONO API). WONO can be used for the following activities:

• Paying for Asset rent or services;

• Paying platform fees;

• Crowd deal Insurance;

• Crowd deal arbitration.

Investment Launch

Platform Development

TokenUsage

Toke

n P

rice

Time

Any Ethereum wallet can be used to store WONO keys. The key factors for the growth of token rates are the increase in the number of assets that are placed on the WONO platform and growth in the number of users. There is the opportunity


to spend tokens inside the platform, as long as engagement in the crowd deal insurance and crowd deal arbitration supports the closed cycle of token circulation inside the ecosystem.

Major token-metrics of the project

Metrics Value, $

Basic token price 0,5

Soft Cap 7,000,000

Hard Cap 20,000,000

5.2. Token distributionMaximal token supply is 79,166,667 which will be allocated as presented proportions:

Maximal token supply: 79,166,667

Token distribution Share, % Tokens

On Sale 60 47,500,000

Team and Owners 20 15,833,334

Advisors 5 3,958,333

Bounty 3 2,375,000

Reserve 12 9,500,000

Reserved tokens will be used for security deposits on the exchanges and for the token price support.

Soft Cap

Hard Cap

$ 7,000,000

$ 0.5Basic

token price

$ 20,000,000

Overall token amount

79,166,667

On Sale60%

Team and Owners20%

Bounty3%

Advisors 5%

Reserve12%

47,500,000 tokens

Total Supply 100% 79,166,667

tokens15,833,334 tokens

3,958,333 tokens

9,500,000 tokens

2,375,000 tokens


6. Project Implementation Cost

WONO is a financially demanding product with huge potential for viral user acquisition and the creation of a strong referral program.

Based on our analysis, $7,000,000 will be enough to launch the platform and start the project. However, a proper marketing campaign will make the platform grow faster. Financial scenarios based on the ICO: SoftCap ($7,000,000), Moderate ($10,000,000), Average ($15,000,000) and HardCap ($20,000,000).

According to our calculations, significant investments will speed up the product and business development and help fund marketing campaigns.

Business

Legal

Community5%

13%

10%

50%

Business

Legal

Community10%

10%

10%

45%

Marketing

Business

Legal

Community10%

10%

10%

30%

Marketing25%

40%

HardCap$20,000,000

SoftCap$7,000,000

Moderate$10,000,000

Average$15,000,000

Engineering / productdevelopment




Marketing

Business

Legal

Community5%

15%

10%

15%

55%

Marketing22%


SoftCap $7,000,000

Expenses type Total Share 2018 2019 2020

Engineering/ product development

$3,850,000 55% $1,540,000 $1,925,000 $385,000

Marketing $1,050,000 15% $210,000 $735,000 $105,000

Business development

$700,000 10% $280,000 $280,000 $140,000

Legal $1,050,000 15% $525,000 $315,000 $210,000

Community $350,000 5% $140,000 $140,000 $70,000

Total: $7,000,000 $2,695,000 $3,395,000 $910,000

Moderate $10,000,000



$5,000,000 50% $2,000,000 $2,250,000 $750,000

Marketing $2,200,000 22% $440,000 $1,320,000 $440,000


$1,000,000 10% $400,000 $400,000 $200,000

Legal $1,300,000 13% $650,000 $390,000 $260,000

Community $500,000 5% $200,000 $200,000 $100,000

Total: $10,000,000 $3,690,000 $4,560,000 $1,750,000

0

$2,000,000

$4,000,000

$6,000,000

$8,000,000

$10,000,000

0

$2,000,000

$4,000,000

$6,000,000

$8,000,000

$10,000,000

0

$2,000,000

$4,000,000

$6,000,000

$8,000,000

$10,000,000

HardCap $20,000,000

SoftCap $7,000,000 Moderate $10,000,000

Average $15,000,000

2018 2019 2020 2018 2019 2020

2018 2019 2020 2018 2019 20200

$2,000,000

$4,000,000

$6,000,000

$8,000,000

$10,000,000

Engineering / product development Marketing Business development Legal Community


Average $15,000,000



$6,750,000 45% $2,362,500 $3,037,500 $1,350,000

Marketing $3,750,000 25% $1,125,000 $1,875,000 $750,000


$1,500,000 10% $600,000 $600,000 $300,000

Legal $1,500,000 10% $750,000 $450,000 $300,000

Community $1,500,000 10% $600,000 $600,000 $300,000

Total: $15,000,000 $5,437,500 $6,562,500 $3,000,000

HardCap $20,000,000



$8,000,000 40% $2,400,000 $3,200,000 $2,400,000

Marketing $6,000,000 30% $1,800,000 $3,000,000 $1,200,000


$2,000,000 10% $800,000 $800,000 $400,000

Legal $2,000,000 10% $1,000,000 $600,000 $400,000

Community $2,000,000 10% $800,000 $800,000 $400,000

Total: $20,000,000 $2,695,000 $3,395,000 $4,800,000


7. Marketing Strategy

7.1. The LaunchThe WONO team will work with various channels to attract early users to the platform.

• Early WONO investors are obviously interested in the platform’s growth. The more Users and Assets in the system, the higher the price of the tokens they acquired during the ICO. Therefore, early WONO investors will not only become the first users of the platform but will always create word-of-mouth publicity and a positive public image of the project;

• In addition, we are planning to create a strong referral program with a clear reward system for attracting Asset owners. Participating in the WONO community and passing the KYC verification will be essential for every referral. That will increase the liability of the messages spread by WONO referrals;

• Another area of focus is supporting teams that are developing their own DAPPs basing on the WONO API. We strongly believe that the success of a blockchain product is connected to creating a community of developers around it.

Public PreSale

CrowdSale PreRelease Release

Bou

nty

Am

ount

Time


7.2. Scaling the BusinessDuring the scaling period, it is essential to create a propitious media environment for the business. So we will focus on the following areas:

• Brand Ambassadors: We will attract influencers from the crypto community to promote WONO and encourage new Users to register on the platform;

• Incentives: For the sharing markets, it is vital to attract the Assets’ owners at an early stage. In addition to the road shows, we will organize special events and incentive programs for property and car owners as well as freelancers, motivating them to publish their CVs;

• PR: We will actively communicate with the media and create newsworthy events;

• Media Buying / PPC / CPA: The fastest, although the most expensive channel for attracting users, we believe it can be used during the business scaling period after all stages of the User acquisition and User retention funnel are tested and approved.


8. ICO detailsWONO ICO will take two stages: Pre-sale and ICO. To join the crowd-funding campaign, you have to register on the White List. The total number of WONO tokens to be distributed is 47,500,000.

Pre-SaleRound Month Investment to attract, $ Bonus, %

1June 2018

3 000 000 30

2 4 000 000 25

ICO3

July 2018

1 000 000 10

4 1 000 000 5

5 11 000 000 0

8.1. Bonus AllocationAll bonuses that exceed 15% will be paid in parts. That measure is taken to protect the interests of investors and prevent token rate manipulations. During the token transfer, investors will get 15% of the bonus immediately, with the rest of the bonus being paid once in two months by amount of 15% of the overall bonus.

2 months

Investment

Remaining 15% Bonus

15% First Day Bonus

15% BonusLocked

Time

Therefore, a 30% bonus will be paid out in the following way:

• First day bonus: 15%;

• The remaining 15% will be paid two months after.


9. Roadmap

Coming up with the idea and forming a business concept.

Private Pre-Sale, preparation of vital business documents (Blue Book, Pitch scenarios, planning the business structure development, publishing an interactive mock-up of the project, public Pre-Sale.

Establishing the structure of the business, running the ICO, placing tokens on crypto stocks, audit and requirements testing of the WONO PROTOCOL: economic model / security testing.

WONO PROTOCOL publishing, launching the technical support services, forming a preliminary strategy of the product development, audit and requirements testing of WONO API: product model / security testing / high load.

Launch of the WONO API, setting final product strategy, audit and requirements testing of thе WONO CLIENT: product strategy / product model / security testing / high load.

Launch of the WONO trial version for the test Ethereum network, start of the preliminary marketing campaign, start of an aggressive PR-campaign.

Trial launch on the market, user migration from the test network to the Ethereum network, preparations for the massive user registration.

Scaling the project, launch and expansion of the public marketing campaigns.

Launch of the partner program, product strategy updates, project growth support.

Analysis and further business growth.

Q1. 2018

Q1. 2019

Q3. 2018

Q3. 2019

Q2. 2018

Q2. 2019

Q4. 2018

Q4. 2019

Q1. 2020

Q2. 2020


10. Team and Advisors

10.1. Key Personnel

Alexander EsaulovCEO, founder

Alexander Esaulov came up with the idea of WONO on a flight from Los Angeles to St. Petersburg when he realized he was tired of being charged by all the services he uses during his business trips. He is an entrepreneur and a marketing expert. Alexander founded and successfully sold various start-ups: Greeder (a products market place with a bargaining option), Alex Games (fitness reality show), Burn to Earn (fitness reality show in the United States), SPb Fighters (MMA reality show).

Andrey ChepelevCOO

Andrey Chepelev is Editor-in-Chief and Project Manager at Kolesa.ru. In four years, he raised the website’s monthly audience from 0.7 million to 2 million and developed it from a small regional media into the no. 5 automotive media site in Russia. As a successful executive and media expert, Andrey worked with Alex Esaulov as COO at Alex Games and Burn to Earn.

German SolodovCMO

German Solodov has seven years of experience in digital marketing and is a SEO guru. At his last place of employment (Alex Fitness, the largest gym operator in Russia) he raised the company’s digital sales by 12% in just six months, converting a $100,000 marketing budget into $700,000 of revenue each month.


10.2. Team

Christopher CikoIR

Chris lives in Los Angeles and owns a law firm. He is an expert in corporate law and security papers with 20+ years of experience. Christopher is in charge of investor relations at WONO.

Arthur LavrishevFull Stack Software Developer

Arthur Lavrishev boasts significant experience in creating complicated products, including blockchain DAPPs (Wings DAO). His key skills include integrating applications with multiple components systems (Ncloudtech), in-depth knowledge of designing interactive Web interfaces, and hands-on experience with automated decision-making systems based on a neural network (Gotrg).

Anton GuljakinUI/UX Designer

Anton Guljakin has 13 years of experience in graphic, Web design, and UX design. He has had brilliant results working with any kind of task, from creating brand identity to pre-print editing and creating interfaces for an e-commerce platform. He has successful experience with big brands (Leroy Merlin, Uvi Pro, PCM) and has worked as Chief Designer for Alex Games and Burn to Earn.

Maria PolzikProject Manager

Maria Polzik has more than five years of experience in IT management construction. Maria has worked for the Greeder, Alex Games and Burn to Earn projects as a Project Manager and successfully managed and improved the performance of a remote working support team.

Julia LarionovaSMM Manager, Email Marketing Specialist

Julia Larionova is an online marketing specialist and copywriter both in Russian and English, she is the author of the online marketing strategy for Alex Games and Burn to Earn projects. Julia currently works for the international IT corporation Embria.

Alexey KnizhnikovCommunity Manager

Alexey Knizhnikov is an experienced specialist in customer support and customer satisfaction, successfully managing any kind of client request. Alexey has worked for the Burn to Earn and Alex Games projects in English and Russian.


http://ncloudtech.com/

https://gotrg.com/


10.3. AdvisorsLev LemkovProject Management

Lev Lemkov has broad experience in blockchain projects management including Wings DAO (Wings Development CTO / COO). He has more than 15 years of total experience in Tier1 IT companies (Sun Microsystems, Oracle, МТС). He has comprehensive expertise in software development, brilliant skills in applying effective management strategies tailored to specific IT businesses.

Alexander FrolovBlockchain Software Architect

Alexander Frolov has extensive experience in blockchain development for Wings DAO. He has more than 19 years of software development experience, including cooperation with Tier1 companies (e.g., Deutsche Bank). He has participated in multiple complex projects in fintech (in-depth knowledge), gamedev, security, Web interfaces, and other areas.

Kirill PyrevBlockchain Marketing

Kirill Pyrev is CEO at blockchain startup BotGaming. He has more than 10 years of experience in digital marketing and advertising and successful experience in applying various gamification strategies. Kirill has deep knowledge of Asian forex markets (CMO and co-founder of brokerage company FXVan) and wide experience in blockchain marketing.

Benedict O’LearyAccommodation and travelling

Benedict O’Leary is an accommodation and travel expert with more than 15 years of experience. He worked as a key account manager and business developer in Booking.com for 3 years and previously in Kuoni Travel Services, JacTravel and Boscolo Tours.




https://botgaming.me/


11. Conclusion

This document includes general information regarding business planning, technical realization, and marketing strategy that will be involved in the launch and development of the WONO project.

Our final goal is on the one hand to build a bridge between cryptocurrency and real assets/services and on the other hand to create a shared economy ecosystem based on the principles of transparency, mutual trust, and responsibility.

You can find all the news about the WONO development and crowdfunding campaign at wono.io and in the WONO communities.

http://wono.io

https://t.me/wonoworld

https://twitter.com/wonoworld

https://www.instagram.com/wonoworld/

https://www.linkedin.com/company/wonoworld/

http://fb.me/wonoworld

https://www.reddit.com/user/wonoworld

https://medium.com/@wonoworld

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