What is WRK?

WRK is an ERC-20 token that is one of the world’s first federally approved cryptocurrencies – issued under blockWRK’s 2019 license from the Bermuda Minister of Finance.

What is blockWRK?

blockWRK uses WRK-powered smart contracts and the blockWRK app to allow employers to automatically reward workers in real-time as soon as daily goals have been achieved. Each month, companies are required to purchase a certain amount of WRK based on the total number of employees they have using the blockWRK app.

Employees earn WRK by using the app to complete daily fitness goals set by their employer and doing in-app daily safety checks to help avoid worksite safety violations. Each month the employer’s WRK pool is distributed to employees who can choose to hold their WRK as savings (earning HODL bonuses) or spend it using their blockWRK Visa debit card. Employees can also set a portion of their paycheck to be paid in WRK each pay period.

The blockWRK app also contains free mental health counseling and orthopedic injury telehealth services, as well as cash advances on their next paychecks with 0% APR (just a single low flat fee), helping employees avoid abusive overdraft fees and paycheck loans to cover unexpected expenses.

Employers

Employers who use blockWRK agree to purchase and hold a certain quantity of WRK tokens each month to be distributed as rewards to participating employees.

Employees

WRK rewards are paid to employees who reach daily and weekly goals.
Employees are encouraged to hold and save their WRK but can instantly cash out for $USD anytime.

Enthusiasts

WRK finally provides what we’ve all been waiting for: businesses buying, holding, and actually accepting crypto as payment, not just as a marketing gimmick that they immediately liquidate to fiat.

WRK Token Supply

The native currency of the blockWRK platform is WRK – an ERC-20 token that is one of the world’s first federally approved cryptocurrencies – issued under our 2019 license from the Bermuda Minister of Finance

WRK is backed by real business use

Each month, contracted companies are required to purchase a certain amount of WRK based on the total number of employees they have using the blockWRK app. blockWRK will only distribute 165MM tokens each month from the distribution pool in order to manage the growth of the network and ensure a 5-year distribution timeline. Once all tokens have been released from the blockWRK supply, employers will only be able to acquire WRK by accepting it as payment or by purchasing in the open market, creating a self-perpetuating fully decentralized system.

WRK is backed by real money and real users

Employers that use blockWRK fund their WRK incentives pool monthly, spending less than they would typically spend for the same ancillary health & wellness benefits (and without the smart contract goal management capabilities). Each month this pool is distributed to employees who can choose to hold their WRK as savings (earning HODL bonuses) or spend it using their blockWRK Visa debit card. Employees can also set a portion of their paycheck to be paid in WRK each pay period. As blockWRK expands, more employee activities can be incentivized by managers using daily WRK goals, converting a larger percentage of total compensation into WRK.

A fully decentralized system

When all tokens have been released, employers will need to independently acquire WRK each month in order to perpetuate their use of the blockWRK platform, making it fully decentralized. As businesses compete to purchase WRK, they are incentivized to buy and hold WRK on their balance sheets and to accept WRK as payment for whatever goods and services they provide.

9,887,996,950 tokens WRK: will be distributed to end-users

were allocated to the blockWRK operational reserve pool (promotion and operation)

2,000,000,000 tokens WRK: (for 5 year distribution period)

165 MM WRK per month

A limited amount of WRK: 11,923,616,243.7293 WRK tokens

Distribution

blockWRK distributes a maximum of 165 million WRK tokens each month from the distribution pool (which contains ~9.8 billion WRK) in order to manage the growth of the network and ensure a 5-year distribution timeline. Once all WRK tokens have been released from the blockWRK supply, employers will only be able to acquire WRK by accepting it as payment or by purchasing in the open market, creating a self-perpetuating fully decentralized system.

When all tokens have been released, employers will need to independently acquire WRK each month in order to perpetuate their use of the blockWRK platform. As businesses compete to purchase WRK, they are incentivized to buy and hold WRK on their balance sheets and to accept WRK as payment for whatever goods and services they provide.

How and Where to Buy WRK token?

WRK has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin, ETH, USDT, BNB from any large exchanges and then transferring to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy WRK token.

You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…

Source: Coin Introduction <https://morioh.com/p/7a56577b1cf9>