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POW Token is a digital token at present being released for free via an airdrop to anyone who owns a Facebook or Twitter Account. Please read further to know how the token works today in our review.
POW Token Review
POW Token that is found online , and explains itself as “like free bitcoin.” One can claim his POW token on the official website for free. You just need to click “Login with Facebook or Twitter”.
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POW is a cryptocurrency that is distributed to all users of Facebook and Twitter. It is completely free to get an initial allocation of POW tokens if you are a Facebook or Twitter user.
POW tokens, like several other cryptocurrencies can be sent and received with zero transaction fees with your Facebook or Twitter friends and that functionality is already in the currency.
POW Token explains itself as a free and riskless investment. Because the tokens are being genuinely given away for free, that certainly seems true.
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Workings of POW Token
POW Tokens are standard ERC20 tokens on the Ethereum blockchain. Clearly, there are several ERC20 tokens on the Ethereum blockchain. But POW Token is unique as the developers identify 2 unique features, including:
POW “lite”, the non-blockchain version of POW. It is held in the POWToken Account and permits holders to make free transactions with one another. POW “lite” will be fungible with the ERC20 POW that exists on the blockchain.
A global airdrop of POW “lite”, with an adequate supply to be claimed by every person on the planet. One can claim their POW “lite” tokens by logging in with their Facebook or Twitter account.
Because of the unique airdrop distribution, POW has the possibility to be the most widely held currency on the planet.
When a cryptocurrency is airdropped, it implies it is given to users freely. It is an alternative distribution method to ICOs. Some companies have used airdrops in combination with ICOs in order to distribute tokens.
POW Token’s airdrop is attained using 3rd party validation and verification service offered by Facebook for “apps”. When installation of an app through Facebook, you approve that app to access certain account details. POW Token takes advantage of this function.
POW Token doesn’t limit users from signing up to the platform using multiple accounts. Though only Facebook and Twitter are supported by the platform to date, the long-term goal is to add support for Instagram, Reddit, and Weibo.
Those users with more than 1 social media account will receive more than 1 allocation.
The unique airdrop distribution structure is designed to encourage early adoption.
Meanwhile, the 5 founders of POW Token are sharing 6.83% of the total number of ERC20 POW tokens being given out. Additionally, 1.50% of the total supply of tokens is being given to Bitzza Limited, which is a UK-registered company owned by the founders. The company along with its allocation will cover the costs of operating the centralized databases and any other costs that arise. Apart from these token allocations, POW Token is not looking to raise any money from an ICO, nor are they seeking funding from other sources.
Full technical details of the ERC20 token can be found on the official website.
Additionally, the airdrop has a unique structure where the 1st claimant received 10 billion POW “lite”, and every 10th, 100th, and 1000th claimant receives additional tokens throughout the sale.
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Who’s Behind POW Token?
5 tech industry professionals created the POW Token.
The company (including its founders) is collectively being issued 19.3 billion POW. Once there is 1 billion claims for free POW, the combined founders’ allocation will be equal to 6.8% of the total issued POW. It is the sole way these individuals are being rewarded. There are no salaries or expenses being paid to the founders.
Co-founders of POW Token include Simon Wajcenberg, an entrepreneur who has 15+ years of experience in online and mobile advertising who is now operating a systematic hedge fund named K1T Capital.
4 of the founders have a 25% stake each in Bitzza Limited, the UK-registered company in charge of POW Token development.
Summing Up
POW Token is a token that is being given away freely via an airdrop to anyone with a social media profile. The very 1st claimant got 10 billion POW “lite” tokens, with the number of tokens descending over time.
The tokens are given away freely. However, the founding team still thinks POW Tokens have value. The value comes from the fact that they can be exchanged internationally at a transaction cost that will never go beyond 1 or 2 cents.
To gain more information about POW Token, visit online today. You can continue claiming your free tokens using your Facebook or Twitter profile.
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