Weble Ecosytem Token: The first IoT in Avalanche

Published by AVAX on

Weble Token is the first IoT (Internet of Things) project released in the Avalanche ecosystem, back at the end of July 2021. It was launched through a stealth launch, as the first news of its existence was when someone asked on the Trader Joe’s Telegram group what this WET token was that appeared “out of nowhere” with great liquidity. Immediately one of its creators (Patrick and Polux are their names on Telegram), who was reading the aforementioned group, came out to say that they should wait to find out what it was, as the finding was accidental. I have to say that the writer of this was lucky to be present that day reading Telegram, so I was able to see the process of what I am talking about. We would later learn that the great liquidity presented at the start was due to the fact that Weble is a private company based in Switzerland, already established before the launch of its token, which allowed for the initial liquidity that was so surprising at the start. Weble is industrial computing, IT networking expert, and automation protocol builder, for which I recommend visiting their website to see exactly what they are all about.

Initially, the motivation behind the creators of Weble Token was to enable investment in their company in a simple tokenized way, to “be part of their success”. In addition to the individual investors who bought the tokens when they discovered them, there are also larger private investments, more directly related to the company than to the token itself. This has allowed a very good price action from its beginning until today, as this great liquidity (WET/AVAX) allowed organic growth and was not as volatile as in other launches. In addition, being its pair with AVAX, the price of the token rose and fell ‘along with it’, maintaining very stable and positive prices for the investor. Only after the last big price rise of AVAX did the price action of the two seem to have separated a little, something positive, especially considering the poor state of the market in recent months.

In its first months of life, Weble Token’s developers dedicated themselves to the creation of different bridges between the different main blockchains with the aim of attracting investors from other networks to Avalanche. I have to say that I have used these bridges from the beginning and they have always worked flawlessly, and the price for their use is exclusively the transaction fee, the rest being paid by the company free of charge for the user. At first, they created the bridge to BSC, then to Polygon, and later to Solana, in what has been one of the first bridges connecting the latter network, which is very different from the others when it comes to programming, and which works really well. The only ‘downside’ here is that it can only be used with the WET token, and depending on the liquidity of the other blockchains it can be unprofitable for large sums of money. The good part is the arbitrage possibility, which was very good in the beginning.

In recent months the project has been more silent, as they have been focusing on a big private project related to the Qatar 2022 World Cup, among other things related to tech giants like Tesla or Siemens. Exciting, isn’t it? After all, this is a small company and they have to manage their efforts according to economic interests, so this is not a short-term project, but a big long-term project with big possibilities. The developers want to focus on Avalanche’s X-Chain to run their IoT technology (see video here) and will certainly make use of the great advantages of Avalanche’s subnets. Their ability as programmers has been more than demonstrated since the beginning of their project, and they have done everything at lightning speed, especially when compared to other projects dedicated exclusively to their token, which have been much slower.
If you are interested in them, I recommend you take a look at their whitepaper, try out their bridges and follow them on social networks. For although the project may seem quiet at the moment, there is a lot of potential to be realized. Currently, the only DeX that allows you to generate yield by providing liquidity is Canary Exchange, because although it was launched at Trader Joe’s, they decided to close their farm even though their liquidity was blocked there.


Categories: DEFI_NEWS