" class="no-js "lang="en-US"> POW Set for Global Release Next Week - Fintech Finance
Friday, March 29, 2024

POW Set for Global Release Next Week

A brand new crypto asset – ‘POW Lite’ – is set to be released to Facebook users next week via a free global Airdrop. POW Lite will be launched alongside ‘POW Token’, its cryptocurrency counterpart.

The Airdrop is scheduled for Tuesday 3rd October 2017.

What is POW Lite?

POW Lite is the non-blockchain version of POW which will be held and exchanged for free through the POWtoken.com website. It is free for anyone aged over 18 with a pre-existing Facebook account.

Users will not require an ETH wallet to claim, meaning it will be widely accessible. There’s enough POW Lite for everyone on the planet to receive some, meaning it could become the most widely held currency on earth

The Airdrop is being held on a first come, most served basis; those who claim earliest will receive the largest amounts. The first POW Lite claimer will receive 10bn units,  the second claimer will receive 10 bn divided by 2 and the 3rd 10bn divided by 3 and so on.

Users of POWtoken.com can exchange POW Lite amongst their Facebook friends who have also opened an account with POWtoken.com, free of transaction fees. POWtoken.com will later be integrated with other social media platforms such as Twitter and Instagram.

What is the POW ERC20 Token?

POW ERC20 Token is the Ethereum blockchain version of POW. It’s a standard ERC20 token, an allocation of which will be released onto the blockchain and listed on secondary markets including EtherDelta.com. Every POW Lite will be represented by a POW ERC20 token on the blockchain.

The roadmap is that POW Lite and POW ERC20 Token will become fully fungible. Over the next few months a ‘bridge’ will be built between the POW Lite ecosystem and the Ethereum Blockchain which will allow POW Lite holders to migrate their holdings into ERC20 POW Tokens.

What are they worth?

Once the POW ERC20 Token is trading on secondary markets on 3rd October, it will be possible to gauge an initial value for the cryptocurrency.

Based on a study of seven existing cryptocurrencies and crypto assets, the founders of POW have calculated that the average value of POW per person could be $3,000 (£2,210).

Using this calculation, the person who claims their POW first could become worth $124 billion (£91 billion) – making them the richest person on earth.

Who’s behind POW?

POW is the creation of a group of finance and IT professionals from the UK and Canada.

Simon Wajcenberg, one of the co-founders of POW, is an entrepreneur and businessman with over 15 years’ experience in marketing and finance. He has founded a number of successful, global businesses and currently manages a hedge fund.

Ahead of the Airdrop, Simon Wajcenberg said:

In launching both POW Lite and POW Token we are offering something for everyone, from casual Facebook user to seasoned crypto traders.

By operating a global social media Airdrop we’re really excited to see how widely POW will travel and the uses people develop for it. We view this as bringing POW to the people; opening up the possibilities of the blockchain and cryptocurrency to everyone.

POW Lite is being released via global Airdrop on Tuesday 3rd October 2017:

  • 0900 PDT

  • 1200 EDT

  • 1700 BST

  • 2130 IST

For more information visit www.powtoken.com, @powtoken, or YouTube.

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