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WeBuy –
WHITE PAPER
THE FIRST ON-DEMAND
ADVERTISING PLATFORM
Authors:
Emil Guberman | Victor Nemirovsky
Yuri Voschinsky | Ilya Yulish
WeBuy
”Democracy arose from men’s thinking
that if they are equal in any respect,
they are equal absolutely.”
AristotleWEBUY White Paper Version 1.3 | 2 This white paper shall not and cannot be considered as an invitation to enter into an investment. It does not constitute, nor relate in any way, nor should be considered an offering of securities in any jurisdiction. This white paper does not include or contain any information (or indication that might be considered as a recommendation, or that might be used as a basis) for any investment decision. WBY are only intended to be utility tokens which can be used only on the WeBuy platform and are not intended to be used as any form of investment. The offering of WBY on a trading platform is done in order to allow the access to use of the WeBuy platform and not for speculative purposes. The offering of WBY tokens on a trading platform shall not change the legal qualification of the tokens, which remain a simple means for the use of the WeBuy platform. WeBuy is not to be considered as an advisor in any legal, tax, or financial matters. Any information in the white paper is provided for general information purposes only and WeBuy does not provide any warranty as to the accuracy and completeness of this information. Acquiring WBY shall not grant any right or influence over WeBuy’s organization and governance to the purchasers or any token holder. Regulatory authorities are carefully scrutinizing businesses and operations associated with cryptocurrencies in the world. In that respect, regulatory measures, investigations, or actions may impact WeBuy’s business and even limit or prevent it from developing its operations in the future. Any person undertaking to acquire WBY must be aware that the WeBuy business model, the white paper, and/or terms and conditions may change or need to be modified due to regulatory and compliance requirements from any applicable laws in any jurisdictions and/or business considerations. In such a case, purchasers and anyone undertaking to acquire WBY acknowledge and understand that neither WeBuy nor any of its affiliates shall be held liable for any direct or indirect loss or damage caused by such changes. WeBuy will do its utmost to launch its operations and develop the WeBuy platform. Anyone undertaking to acquire WBY acknowledges and understands that WeBuy does not provide any guarantee that it will manage to successfully achieve it. They acknowledge and understand therefore that WeBuy (including its affiliates, organs, and employees) assumes no liability or responsibility for any loss or damage that would result from or relate to the incapacity to use WBY, except in case of intentional misconduct or gross negligence.
WEBUY White Paper Version 1.3 | 3
Table
of Contents
01 SUMMARY 1.1 Overview 4
1.2 Distortion 4
1.3 Platform 5
1.4 Blockchain 6
02 MARKET & 2.1 Introduction 7
OPPORTUNITY 2.2 Challenge 8
2.3 Reversing Advertising Process 8
2.4 Creating The Buyer Referral Network 9
2.5 Community Engagement Compensation 10
2.6 Competitive Advantage 10
03 BLOCKCHAIN 3.1 Introduction 11
3.2 Stellar Network 12
3.3 Rationale for Stellar 13
04 WEBUY PLATFORM 4.1 WeBuy on the Blockchain 14
4.2 Overview 15
4.3 Compensation Model 16
4.4 Platform Activity Mining 17
4.5 Sellers “Joining Grant” 17
4.6 Revenue Sources 18
4.6.1 Big Data Sales 18
4.6.2 WeBuy Platform Fees 18
4.7 Advertising 19
05 PRODUCTION- 5.1 POTS 21
ORIENTED TOKEN 5.2 Token Issuance 22
SALE (POTS) 5.3
5.4
WBY Token
Token Allocation
23
23
5.5 WeBuy POTS Plan (Stage 1) 24
5.6 Tokenomics During the First Pilot Stage of POTS 25
06 BUSINESS STRATEGY 6.1 Objective 26
6.2 Roadmap 27
6.3 Marketing Strategy 28
07 CORPORATE 7.1 Introduction 29
7.2 Management 29
7.3 Advisory Board 30
08 LEGAL Legal Considerations, Risk Factors, & Disclaimer 31
09 CONTACT DETAILS 34WEBUY White Paper Version 1.3 | 4
01
Summary
01.1 01.2
Overview Distortion
WeBuy is an advertising Every day information about us is sold, and instead of getting
platform that specializes in paid, we receive a flood of annoying advertisements, most of
online-to-offline commerce. which are not even relevant for us. This has helped to create
WeBuy is holding a Production- an enormous digital advertising market that has already
Oriented Token Sale (POTS) passed 250B dollars in 2018.
event of WBY Tokens. WBY
Neither the buyers nor the sellers are the big winners in this
Tokens will be used by WeBuy
situation. Buyers are annoyed by excessive, poorly-targeted
merchants (sellers) to pay for
ads. Sellers are frustrated by poor conversion rates from
advertising and may be used
their ad spend. The only winners here are the advertising
by WeBuy users (buyers) to
platforms.
purchase goods and services.
Digital advertising is dominated by Google and Facebook,
which collectively hold about 60% of the market. Global
mobile advertising spend is predicted to reach $163 billion by
2019.
WeBuy’s vision is to correct this major imbalance. It will take
the control of the advertising world away from the giants and
put it in the hands of the WeBuy community, for the benefit
of both buyers and sellers.01 Summary WEBUY White Paper Version 1.3 | 5
01.3 WeBuy is an advanced on-demand advertising platform accessed
through a mobile application and based on a complex web of Buyer
Platform Referral Networks (BRNs), created and governed by users of the
platform (buyers). WeBuy aims to:
1) Remove the barriers that are preventing millions of businesses
around the world from maximizing sales. Platform features
enable sellers to join WeBuy’s Buyer Referral Networks (BRNs) at
zero cost. Each new seller that joins will receive a joining grant
from WeBuy worth $500* in the form of advertisement credits.
2) Allow consumers to be the main recipients of online advertising
spend. Hundreds of billions of dollars are paid to attract buyers.
With WeBuy, it’s the buyers who receive most of this marketing
spend.
3) Optimize communication between sellers and buyers to facilitate
increased lead generation, speed up decision making and cut
transaction costs while eliminating unneeded fees.
WeBuy plans to grow into a comprehensive global network through
individual consumers and clients creating Buyer Referral Networks
(BRNs) by inviting offline sellers (physical stores, shops, malls etc.)
and new potential buyers (consumers and clients) to join the WeBuy
ecosystem. In turn, these potential buyers are compensated using a
part of the funds spent by their stores and service providers (sellers)
on advertising to WeBuy users. Active buyers in WeBuy earn WBY
tokens as partners. The more active they are, the more they can earn.
Every dollar spent on WeBuy advertising will be distributed between
the buyer who sees the advertisement, the buyer who introduced the
seller to WeBuy and the platform itself via a Community Engagement
Compensation program.
* Joining grant numbers are market dependent and subject to change according
to the specific market policy01 Summary WEBUY White Paper Version 1.3 | 6
With WeBuy, sales are generated in two ways:
1) Sellers buy advertisement products that allow them to communicate
directly with buyers that have already expressed an interest in
purchasing a proposed product or service.
2) Buyers issue SellMe profiles that describe the product or service
they wish to acquire. SellMe’s are visible to the relevant WeBuy
stores (sellers) in the buyer’s defined geographical area. If they have
advertised, the sellers can see the buyer and can communicate
directly in real-time to promote their products, leading to a buy/no
buy decision by the buyer.
Consequently, buyers find the products and services they want, at the
best price, and sellers can reach potential customers (or clients) who
are known to be interested in their specific products/services. Customer
acquisition and transaction costs are cut to the minimum.
01.4 The use of Blockchain technologies, from the start, will provide full
transparency, reliability, and cost efficiency. The decentralized ledger
Blockchain in combination with the user-friendly application/platform will create
a self-sufficient ecosystem, once committed ownership can be verified
and confirmed for Community Engagement Compensation.
The WeBuy model will be implemented as a Stellar Smart Contract.
Transactions will be verified using cryptography asymmetric keys. By
utilizing a Stellar Smart Contract WeBuy ensures that the system of
compensation is fully automated. Sellers build closer relationships
with customers (and clients). Sellers also enjoy greater confidence that
advertisements will be seen by buyers, who are not only more likely to
buy, but who have also made it known that they have an active interest
in their products and services.
WeBuy aims – with your help and support – to be a purely Decentralized
Autonomous Corporation (DAC) within three years. This will be
achieved by transferring the platform functionality and income into a
decentralized Blockchain based system.WEBUY White Paper Version 1.3 | 7
02
Market &
Opportunity
The Digital Advertising market today is characterized by:
02.1
1) Slow Market Penetration – more than 500 million small and
Introduction medium enterprises (SMEs) worldwide offer products and services
that could be marketed better with online advertisement, however,
less than half of these businesses even advertise online because
of the ineffectiveness of the existing advertisement techniques for
SMEs. In addition, approximately 90% of retail purchases are still
made offline. This means that hundreds of millions of businesses
are left out of the online retail space. WeBuy aims to take advantage
of this opportunity by bringing a major portion of these businesses
into the world of effective online advertising.
2) Monopolies in Advertising – Facebook and Google control the
bulk of digital ad spend. According to eMarketer1 digital ad spend
in the US to to $105 billion in revenue in 2019. Overall, Google and
Facebook control more than 60% of the U.S. digital ad market.
WeBuy aims to decentralize this dedicated economy in order to
build a better and more equitable ecosystem. The goal is that the
half trillion dollars that are spent each year on digital advertising will
mainly be used to compensate the time and effort of the end users.
NET US DIGITAL STATUS 2016 2017 2018 2019
AD REVENUES,
BY COMPANY, 2016–2019 Google $29.43 $35.00 $40.08 $45.69
BILLIONS YouTube $2.92 $3.88 $4.43 $4.96
Facebook $12.37 $17.37 $21.57 $25.56
Note: includes advertising that
appears on desktop and laptop Instagram $1.61 $3.08 $5.40 $6.84
computers as well as mobile phones,
tablets and other internet-connected Microsoft $3.34 $3.60 $3.84 $4.04
devices, and includes all the various (Microsoft & Linkedin)
formats of advertising on those Linkedin $0.73 $0.81 $0.92 $1.02
platforms, net ad revenues after
company pays traffic acquisition costs Oath $1.27 $3.60 $3.69 $3.77
(TAC) to partner sites
Amazon $1.12 $1.65 $2.35 $3.19
Source: Twitter $1.36 $1.21 $1.16 $1.16
company reports, eMarketer,
Sep 2017 Yelp $0.62 $0.72 $0.84 $0.98
Snapchat $0.30 $0.64 $1.18 $2.04
IAC $0.50 $0.45 $0.41 $0.38
Yahoo $2.25 – – –
TOTAL DIGITAL AD SPENDING $71.60 $83.00 $93.75 $105.44
1. http://www.adweek.com/digital/u-s-digital-advertising-will-make-83-billion-this-
year-says-emarketer/02 Market & Opportunity WEBUY White Paper Version 1.3 | 8
02.2 WeBuy aims to correct each of these imbalances by operating an on-
demand advertising platform with built-in virality, powerful growth
Challenge incentives, an easier experience for customers (or clients) and better
customer targeting for merchants.
Bringing such a large number of businesses online, especially onto a
single platform, would normally require thousands of agents who would
need to approach the businesses, convince them to join, and guide
them through the process of creating their online retail space. WeBuy
makes that process redundant. This on-demand advertising platform
belongs to buyers with the Buyer Referral Network (BRN) mechanism
that they create.
02.3 WeBuy offers a mobile application that allows buyers to describe the
product or service they want to buy. The description (“SellMe”) is visible
Reversing to all relevant WeBuy sellers in the buyer’s geographical area, enabling
Advertising them to see, communicate and promote their product or service to the
buyer in real time.
Process To further encourage ad view and to nudge the buyer into making a
purchase, a portion of the advertising fee is added to the buyer’s WeBuy
wallet.
The typical internet user sees more than 4,000 advertisements every
month. WeBuy offers its members an opportunity to earn a significant
amount of WBY tokens by viewing relevant ads.02 Market & Opportunity WEBUY White Paper Version 1.3 | 9
02.4
Creating The Buyer
Referral Network (BRN)
Being paid to view ads is not all there is. WeBuy is a new word in the Sharing
Economy – providing platform users the opportunity to benefit from taking
an active part in platform growth. Buyers on WeBuy create their own Buyer
Referral Network (BRN) by inviting SMEs to join the platform. The selection of
My Referral
Network SMEs is completely open and is not limited to businesses frequented by the
buyers.
The WeBuy platform includes all of the tools needed by the buyers to select
and invite SMEs and for those SMEs to integrate with the platform.
The owner of the BRN receives a significant amount of the budget, paid by
the seller that he/she invited according to the CEC (Community Engagement
Compensation) Policy.
This way, any amount paid by the SMEs for advertising is distributed between
the WeBuy platform, the buyer who views the advertisement, and the buyer
who introduced the SME.
The stores build a closer relationship with customers and have confidence
that their advertisements will be seen by buyers who are likely to buy –
buyers who show an active interest in their products or services. Customers
receive rewards in the form of WBY tokens that they can use on the WeBuy
platform.
WeBuy is the first on-demand advertising platform truly created and owned
by buyers.02 Market & Opportunity WEBUY White Paper Version 1.3 | 10
02.5 02.6
Community Competitive
Engagement Advantage
Compensation
The WeBuy ideology is based on two main The world of commerce in general, and
concepts: online advertising in particular, is very
competitive. As described above, it is
1) Sellers must pay to communicate
dominated by giants such as Google,
with buyers, resulting in buyers being
Facebook, Microsoft, and a number of
compensated for their engagement,
other large and aggressive players.
based on the amounts paid by
sellers. They pay by purchasing Their services allow advertisers to choose
advertisements which in turn are seen from a range of products, including ads
by the buyers. targeted at well-defined demographics,
2) The Seller is always part of a Buyer search-related ads, and free, or almost
Referral Network (BRN) established free, online presence.
by the buyer who recruited them to However, none of those services provide:
WeBuy. As a result, any active buyer
in WeBuy is compensated for their 1) Buyers with the means to earn money
engagement in the form of WBY by creating their own referral networks
tokens. The more active the buyer, the 2) Buyers with the means to earn money
more tokens can be earned. Those by viewing advertisements
WBY tokens can be exchanged for FIAT
3) A flexible and effective solution for
currency or used to buy goods and
SMEs
services from sellers on the WeBuy
platform. 4) Mutual and real-time connectivity
between product searches and
relevant nearby merchants
5) A real-time social network, based on
areas of interest
WeBuy offers an entirely new way for
buyers and sellers to engage and meet.WEBUY White Paper Version 1.3 | 11
03
Blockchain
03.1 Matching advertising, commerce, and ecommerce with a decentralized
vision is quite an interesting concept. We don’t speak here about a shop
Introduction accepting payment in cryptocurrencies. Those already exist. We speak here
about an evolutive scientific vision that will deploy Blockchain technology
to revolutionize the way sellers and buyers interact. In WeBuy’s vision, our
on-demand advertising platform will completely overhaul the world of
commerce, including online-to-offline commerce and online advertising.
Blockchain technology makes this possible by providing a reliable,
open, and programmable accounting system. It is a shared peer-to-peer
distributed ledger (distributed database). It is a peer-to-peer transaction
management system without an intermediary as transactions are verified
by a protocol and network of nodes and recorded in a public distributed
ledger called a Blockchain.
Solutions using Blockchain can be built to maintain a continuously growing
list of cryptographically secured data records protected against alteration
and modification. It sets up trust, accountability and transparency while
streamlining business processes.
The Blockchain can help reduce the expense and unpredictability of
working edge devices or connecting servers. A Blockchain distributed
ledger simplifies the development of cost-effective business systems
where anything can be tracked and exchanged, without requiring an
essential central control and a lot of expensive resources.
Using Blockchain removes the characteristic of infinite reproducibility from
a digital asset. It confirms that each unit of value was transferred only
once, solving the long-standing problem of double spending.
Blockchains have been described as a value-exchange protocol. This
blockchain-based exchange of value can be completed more quickly, more
safely, and more cheaply than with traditional systems. A Blockchain can
assign title rights because it provides a record that compels offer and
acceptance.
The long-term objective is to achieve Decentralized Autonomous
Corporations (DACs) which are open, self-organized collectives coordinated
by economic incentives and self-executing code, cooperating around
shared goals.
Powered by the network effect, DACs provide an economic model and
incentive for the production of open, shareable resources. With the
creation of more open resources, DACs will be able to scale indefinitely
while staying agile and coherent, and in many cases outcompete existing
corporate structures.
DACs have attracted top talents in the Blockchain space, holding promise
for more efficient and resilient organizations.03 Blockchain WEBUY White Paper Version 1.3 | 12
03.2 Why Ethereum does not meet our needs.
Stellar Traditionally, tokens have been issued on the Ethereum network in the
form of ERC20 tokens. ERC20 tokens are easy to issue and are infinitely
Network customizable using Ethereum’s smart contract language. However, recent
events have highlighted some weaknesses of the network, including
slow transaction processing times for the network during ICOs and
increasingly expensive gas prices (by fiat standards) for transactions and
smart contract executions.
Moreover, many organizations require only basic tokens; they adopt
the risk of Ethereum’s Turing complete programming language without
taking advantage of many of its benefits.
Stellar is the best choice for projects that do not require complex
smart contracts but require fast transaction processing time and cheap
transaction fees.
With ERC20 tokens, it takes a great deal of money and time to add a
token on a centralized exchange, while Stellar features an in-house
decentralized exchange where any Stellar network token can be instantly
traded without relying on any third party exchange to list the token.03 Blockchain WEBUY White Paper Version 1.3 | 13
03.3 Built-in decentralized exchange
There have been literally thousands of new tokens issued in 2017
Rationale for and 2018.
Stellar Each one will have to find some exchanges to list them. Users will have
to make accounts at random exchanges to be able to buy certain tokens
and, inevitably, many of these tokens won’t get listed.
Stellar was designed from the ground up to support efficient trading. Any
token created on Stellar can be bought and sold immediately on Stellar’s
decentralized exchange by means of Stellar’s native offer mechanism. An
organization does not have to rely on a third party exchange like Bittrex or
Poloniex to list or make the market for them.
This all means one less unknown since projects don’t have to trust
someone to list their tokens.
Greater security
While Stellar is less expressive than Ethereum, the simplicity of its
transaction model creates fewer pitfalls and hence can improve the
security of applications that do not require the full generality of Turing-
complete smart contracts. Simply put, Stellar’s model of atomic multi-
operation transactions leads to more auditable code, limits uncertainty,
and decreases the risk of harm from bad actors who may exploit program
vulnerabilities.
Significantly cheaper and faster
As Ether (ETH) obtains higher valuations, computation and transactions
are becoming increasingly expensive. Stellar does not require any “gas”
to execute programs and only requires a negligible transaction fee
(.00001 XLM – a fraction of a fraction of a penny) to discourage users with
malicious intent from flooding the network with transactions.
The median transaction time on Stellar is 5 seconds, compared to
approximately 3.5 minutes on Ethereum.
То conclude: Stellar offers 3-5 sec confirmation time (versus 3 minutes
on Ethereum). The transaction fee is cheap as well – the cost of 300k
transactions is around 1 cent. On Ethereum, gas for the same amount of
transactions will cost a pretty penny – around 8K USD. And with 3000+
transaction per sec (7 on Ethereum) – Stellar is the best choice for us.WEBUY White Paper Version 1.3 | 14
04
WeBuy Platform
04.1 Blockchain is a basic requirement of the WeBuy on-demand
advertising platform with respect to the following:
WeBuy on Transparency & Trust – Ability to ensure the correct actions in
the Blockchain terms of transactions that are dependent on compensation, so that
all participants are confident that they will receive what is due to
them, without the involvement of third parties. For example, details
of which sellers are in which Buyer Referral Networks (BRNs) are
maintained and can be seen at any time.
Immortality – System contents and structures are not dependent
on some outside or external management, so the positions of buyers
and their networks remain consistent, independent of outside events.
Usage of WBY Tokens – Allows immediate transactions between
platform participants, not related to location or any other factor.
These objectives can only be achieved using Blockchain technology.04 WeBuy Platform WEBUY White Paper Version 1.3 | 15
04.2 The main goal of WeBuy is to create a platform that will decentralize the
future of the digital advertisement world and make it profitable for all. It is
Overview an advanced on-demand advertising platform accessed through a mobile
application and based on a complex web of Buyer Referral Networks
(BRNs), owned by users of the platform (buyers). WeBuy aims to:
1) Remove the barriers that are preventing millions of businesses around
the world from maximizing sales. Platform features enable Sellers to
join WeBuy’s Buyer Referral Networks (BRNs) at zero cost. Each new
seller that joins will receive a joining grant of $500* from WeBuy in the
form of advertisement credits valued in WBY tokens. The joining grant
will be distributed exactly as if the tokens were purchased by the seller.
This section describes the
WeBuy financial model, 2) Allow consumers to be the main recipients of online advertising spend.
covering the commercial Hundreds of billions of dollars are paid to attract buyers. With WeBuy
it’s the buyers who receive most of that money.
activity on the WeBuy
platform. It is supposed to 3) Optimize communication between sellers and buyers to facilitate
give a high-level overview increased lead generation, speed up decision making, cut transaction
of the general logic and costs, and eliminate unneeded fees.
mechanisms. 4) Allows for truly direct target marketing for the sellers to the buyers and
thus prevents wasting resources on irrelevant ads for irrelevant users.
The description helps
to highlight the system WeBuy will grow into a comprehensive global network through individual
elements that can be consumers and clients creating Buyer Referral Networks (BRNs) and inviting
improved by using offline sellers (physical stores, shops, malls etc) and new potential buyers
blockchain mechanisms (consumers and clients) to join WeBuy. In turn, these potential buyers are
to both make the system compensated using a part of the funds spent by their stores and service
more transparent and providers (“Sellers”) on advertising to WeBuy users. Active buyers in WeBuy
more trustworthy. earn WBY tokens as partners. The more active they are, the more they can
earn.
Every dollar spent on WeBuy advertising will be distributed between the
consumer (or client) who sees the advertisement, the consumer who
introduced the seller to WeBuy and the platform itself via a Community
Engagement Compensation program. With WeBuy sales are generated
when buyers and sellers are effectively matched.
Buyers issue SellMe profiles describing the products or services they want
to buy. SellMe’s are then sent to the relevant WeBuy stores (sellers) in the
buyer’s defined geographical area. By paying for advertisements sellers
can approach the buyer, via a range of advertising methods, including
communicating with the buyers directly in real time and promote products
to new customers, leading to a buy/no buy decision by the buyer.
Consequently, buyers find the products they want, at the best price, and
sellers can reach potential customers who are known to be interested in
their specific products. Customer acquisition and transaction costs are cut.
* Joining grant numbers are market dependent and subject to change according to the
specific market policy04 WeBuy Platform WEBUY White Paper Version 1.3 | 16
04.3
Compensation Model
The mechanism of the WeBuy WeBuy Platform
compensation model includes five parts:
It should be noted that:
Communicating Buyer (CB) – is the
1) The compensation for RB are never
buyer who communicates with the seller
taken from the CB or BRNOs, but from
(reviews ad, talks, reviews message, uses
the WeBuy platform and it is always
the WeBuy payment system to pay sellers).
equal to 10% of the compensation
Referring Buyer (RB) – is the buyer who reached by the CB or BRNO.
invited the CB to join WeBuy. 2) The percentage of the CB or BRNO
Buyer Referral Network Owner Compensation is 20% minimum and
(BRNO) – is the buyer which owns the 40% maximum depending on its
network to which a specific seller belongs. status.
3) The status depends on the level of
Referring Buyer Referral Network
activity (Please see table below).
Owner (RBRNO) – is the buyer which has
invited a BRNO to the WeBuy Platform.
REFERRED QUESTIONS QUESTIONS ANSWERED REFERRED STORES
STATUS SHARE (%) REVIEWS
MEMBERS ANSWERED ONLINE AFTER PURCHASE (SERVICES)
Silver 20% I n i t i a l
Gold 25% 20 20 20 20 10
Platinum 30% 50 50 50 50 30
Diamond 40% 100 100 100 100 75
* Compensation will be paid in WBY tokens only.
** Exact numbers are subject to change.04 WeBuy Platform WEBUY White Paper Version 1.3 | 17
04.4 04.5
Platform Activity Sellers
Mining “Joining Grant”
Buyers’ activity is the main engine for the The buyers’ advantages are clear in the
success of the WeBuy platform. WeBuy platform. It will be necessary to
ensure that the sellers which are invited
The term mining is not related to any
will be motivated immediately to use the
classic cryptocurrency mining techniques.
platform actively.
It simply means that the funds (tokens)
will only be released into the system as a To achieve this, each seller will receive
result of WeBuy users’ activity. a joining grant of $500* from WeBuy in
the form of advertisement credits valued
In the short term the following mining
in WBY tokens. The rules of the WeBuy
activities are planned:
Community Engagement Compensation
1) Inviting New Buyer (INB) – (CEC) will apply to the Joining Grant exactly
Sending an invitation to new buyers as it is applied to other compensation.
will perform the mining required.
The grant will be receivable by verified
Confirmation of the second side
stores.
(WeBuy application download and
registration) will complete another
1/4 of the mining. Both sides will be
awarded an INB-Reward.
2) Inviting New Seller (INS) – Same idea
as for Inviting New Buyer (INB), the
INS-Reward will be WBY tokens,
pending registration completion by the
* Joining grant numbers are market dependent
seller. This will complete the mining and subject to change according to the specific
cycle and reward the buyer with market policy
additional WBY tokens.
3) Reviewing Store (RS) or Answering Note: The store verification process will depend
a question – Each review or answer to on territory. In some countries it will be enough
to get the unique business ID (e.g. India ) and
another buyer’s question that passes
compare it to a database of the businesses.
moderator review will perform a In some countries it will require credit card
mining activity, giving a reviewer 1/10 verification, while in others, full KYC might be
of the RS-Reward. required.04 WeBuy Platform WEBUY White Paper Version 1.3 | 18
04.6 The forecasts are based on a single revenue source, being a
percentage of the total amount spent by sellers on advertising.
Revenue Some potential additional sources are further discussed in the
Sources following section.
04.6.1
Big Data Sales
After some time, the information about SellMes, regions, comments,
and so on will become of great interest to other parties.
This data could be sold via transparent rules and the income of the
sale distributed as follows:
1) 12% for further platform development.
2) 88% distributed to buyers only, according to the SellMe activity of
the buyer.
04.6.2
WeBuy Platform Fees
12% of the sellers’ ad purchases on the platform will go to the WeBuy
platform.04 WeBuy Platform WEBUY White Paper Version 1.3 | 19
04.7
Advertising
The basic model is that sellers will purchase adverts which will be
transmitted and displayed to buyers in response to the SellMes they
issue.
Beyond the advertisement credits received as part of the joining grant,
sellers will pay for adverts by using WBY Tokens that they will acquire by:
1) Receiving payments from buyers in return for supplying goods or
services.
2) Purchasing the tokens through our platform.
Sellers will have the option of creating and designing their
advertisements by utilizing either the mobile or web application. More
sophisticated adverts will be produced through the web application that
will offer several templates and design options.
As shown in the table below, several advertising modes will be available.
It must be emphasized that adverts are only displayed to buyers who
have circulated SellMes. Consequently, the adverts will only target people
who have declared their interest and conversely, buyers will not be
pestered with irrelevant and annoying messages.04 WeBuy Platform WEBUY White Paper Version 1.3 | 20
THE FOLLOWING PRODUCTS WILL BE AVAILABLE
FOR PURCHASE BY THE SELLERS:
PRODUCT EXPLANATION
Pop-up Ad The buyer has defined a new SellMe that
describes his needs and enabled pop-up
ads in his settings. Local stores that carry
relevant products and services will be
shown to the buyer.
Store Landing After defining a SellMe, the buyer chooses
Page Ad one of the matching stores, and reviews its
deals and extended store information.
Call the Buyer If enabled by buyer, the seller can call the
(Voice / Video) buyer with a matching SellMe using the
WeBuy audio or video chat feature.
Buyer Calls Instead of calling the WeBuy store from
from the Map the landing page, the buyer can make a
call directly from the map.
Seller Club Member Sending notifications about new deals or
Notification products to buyers who have added the
store to their list of favorites.
The prices may vary according to location, business considerations and
other factors. While the base of the prices will be presented in local fiat
currency, volatility of the WBY token will not influence the purchase price
(in both directions).
Prices will always be presented in both the FIAT currency (the user will be
able to choose whether it will be in USD or any other local currency) and
of course in WBY tokens.WEBUY White Paper Version 1.3 | 21
05
Production-
Oriented Token Sale
(POTS)
05.1 WeBuy is pioneering a new concept for Blockchain-based projects that is
formulated to mitigate the challenges that usually follow completion of
POTS an ICO, which include:
ICO POTS
Startups and companies The project will hold several token
raise capital that is sales (POTS) that will be used to raise
not directly related to funds f or real-time business needs.
their real-time business Each POTS is funded according to
needs. predefined tasks.
Lack of formal For each POTS, the company
obligations forcing t he publishes a plan and raises the
project to stick to its amount needed for its execution. At
predefined roadmap. the end of the allotted period for the
tasks, the company must publish a
report on what has been completed.
Lack of transparency Total transparency regarding what
regarding capital the money raised during the POTS is
spending. being used for.
Investors are unable to Investors will be able to evaluate the
properly react or take achievements of the company based
action upon realizing on the report of previous POTS period
that a project is and decide whether or not to make
incapable of delivering. an investment in the next POTS.05 Production- Oriented Token Sale (POTS) WEBUY White Paper Version 1.3 | 22
Consequently, WeBuy decided to adopt a POTS based approach
which relies on:
Realistic funding
We will offer to sell the exact number of tokens that are needed for
specific tasks, or steps, along our roadmap. We will update on our
milestones, as we proceed along our roadmap, and publish the exact
number of tokens offered for sale on our website, as newer tasks and
goals are set.
Obligation and Influence
Each round of token sale (a block of tokens offered for sale) should
be declared and explained, correlated and based on the results of the
prior stage. By doing so, WeBuy will show progress and trust, while
executing its plan in order to proceed with its next rounds.
Transparency
Token purchasers should be aware of how proceeds generated
from the token sale are being spent. There is no need to get into the
specific details of each transaction, yet the general budgeting policy
should be detailed and published.
Creating real use for the token
WeBuy will have to clarify how the tokens will be utilized as per the
business model.
05.2 WeBuy plans on conducting a Production-Oriented Token Sale.
Token Issuance WBY tokens will be denominated in XLM (Stellar Lumens) and the
amount offered will vary according to the stage of POTS. WBY tokens
will be available for sale on the Stellar Exchange on January 7th, 2019
at the initial price of $0.25. WeBuy may announce additional bonuses
in the future.05 Production- Oriented Token Sale (POTS) WEBUY White Paper Version 1.3 | 23
05.3
Symbol: WBY
WBY Token Total Supply: 1,000,000,000
1st POTS Sale Amount in tokens: 8,000,000 | in USD: $2,000,000
Total Tokens Available for Sale (for all stages of POTS): 300,000,000
Initial Token Price: $0.25
Accepted Currencies: FIAT + Cryptocurrencies
The WBY Token will fuel the WeBuy network which will support rapidly
increasing volumes of online-to-offline commerce. It will be used:
1) By the sellers, in order to purchase advertising opportunities
2) By WeBuy, in order to pay the buyers their share of the sellers’
advertising spend
3) By the buyers, in order to purchase products and services from sellers
4) By all, through saving on transaction costs – made possible by fast
and cheap Stellar (XLM) Blockchain-based transactions
WeBuy aims to be a cross border system, working in a similar way
everywhere. This demands a payment system based on a single token.
The use of WBY token will facilitate fast transaction processing times and
cheap transactions.
05.4
Token Joining Grant 50%
Allocation
Team and Advisors
(12-month lockup
period) 5%
Service Providers 3%
Founders
(24-month lockup
period) 12%
Contributors (during
all the POTS stages)
30%05 Production- Oriented Token Sale (POTS) WEBUY White Paper Version 1.3 | 24
05.5 After completing the development of the minimal viable product (MVP),
mainly via using the time and funds provided by the project's founders,
WeBuy WeBuy will start the full-scale pilot, which will take place from January
2019 to Mid-March 2019.
POTS Plan
(Stage 1) The pilot targets are:
• Monitor the WeBuy penetration model in real life
• Obtain buyers’ and sellers’ feedback and improvement proposal
• Obtain feedback regarding the best ad products considering the points
of view of both the Buyers and Sellers
• Review the model’s limitations and problems
• Make live, full scale testing of the system
* A more detailed
• Estimate in real-time the investment needed for market penetration
Stage 1 WP will be
using a single local market example
published no later than
January 14. Pilot environment:
• The application (Android version only) will be available for download via
** This whitepaper will
Google Play
be updated with the
• for both buyers and sellers, for pre-defined geographical locations
addition of each POTS
sale. • App documentation will include general info on WeBuy’s website, in
addition to app user guides for buyers and sellers
• Bug reporting and suggestion portal will be accessible from within the
app
• Legal: EULA will be accessible via the app and the WeBuy website
• Support will be available via email 24/7.
Pilot limitations:
• English only version
• Pseudo-token usage
• Limited support
• Basic functionality
• No fraud detection
The results of the pilot should be:
• First operational WeBuy platform release (April 2019)
• One local community fully using WeBuy
• Developing a market penetration strategy based on testing a local
market in real-time
• Accurate budget estimates for stage #205 Production- Oriented Token Sale (POTS) WEBUY White Paper Version 1.3 | 25
05.6 Initial Budget Requirements:
During the first pilot stage, we plan to get 10,000 stores joining the
Tokenomics WeBuy platform.
During the First Note: All the calculations which will be presented are based on WeBuy’s
Pilot Stage estimations which will be subjected to ongoing verification and fine tuning in
real-time during the pilot.
of POTS: In order to recruit 10,000 stores to the platform, we need to achieve a
minimum of 2,000 active users. Assuming that active users represent 2%
of the total users that will download the application, this means that we
need to achieve 100,000 app downloads. A single user download in India
will cost $5, thus 100,000 downloads will cost $500,000.
Estimated expenses until end of 2019*
R&D expenses
for the period:
$350,000
Administration and Marketing expenses
Management expenses for the period:
for the period: Total Estimate: $1,000,000
$350,000
$2,000,000
Production expenses:
$150,000
Unexpected and
miscellaneous:
Considering the success of the pilot and in the case that 10,000 stores join
$150,000
the platform, we believe that each one of them will purchase more ads. We
estimate that the annual expenses, not including the joining grant, will be
equal to $750 (3,000 WBY). As such, the total estimated token purchases
until the end of the year of 2019 will be 30,000,000 WBY. Also considering
the Sellers’ Joining Grant, ($500*, i.e. 2,000 WBY tokens), that will be
released to the market as community engagement compensation, a total
of 20,000,000 WBY tokens will be released into the market.
To summarize, considering that the WBY token flat price is $0.25, we
estimate that:
• 30M WBY tokens will be purchased by stores (10,000*750/0.25)
• 20M WBY tokens will be released to the market in the form of a joining
grant (10,000*500/0.25)
• 10M WBY tokens will be released for the POTS Stage 1
* Joining grant numbers are market dependent and subject to change according to the
specific market policy
** Estimations are based on a flat price of $0.25WEBUY White Paper Version 1.3 | 26
06
Business
Strategy
06.1
Objective
The clear objectives are:
1) To establish WeBuy as a leading on-demand advertising platform.
2) To take an increased share of the overall market.
3) To provide the optimum solution to the market’s current domination by a small
number of major corporations such as Google, Microsoft, and Facebook.06 Business Strategy WEBUY White Paper Version 1.3 | 27
06.2
Roadmap
2020 • Hosting
• Marketing tools
DAC Infrastructure • Open Source preparation
development • Management tools
Customized
Q4 2019
SellMe
• Alexa,
Additional Google Home (…)
platforms • WIX, Shopify (..) SellMe
integration • WeBuy SDK Open API
Q3 2019
POTS STAGE 2
• CRM
• Stores networks Matching
Seller • Desktop support System
Extended • Community based • Image recognition
Features stores KYC • ML
Q2 2019
Social
Platform Buying Network Full Stellar Revenue Anti-Fraud
POTS STAGE 1 Launch Groups Features Integration Generating System
Q1 2019
Full Scale Platform Launch
Pilot (Basic Functionality)
FINANCE PRODUCT
* May be changed due to business and/or regulatory considerations06 Business Strategy WEBUY White Paper Version 1.3 | 28
06.3
Marketing Strategy
The priority will be to create brand awareness and bring into the marketplace influencers
who are able to attract both buyers and merchants. Initial efforts will focus on five
demographics located within strict geographical limits:
1) Sales professionals
2) Purchase managers
3) SME consultants
4) The start-up environment, including entrepreneurs and financiers
5) Students
The main motivation for members to add stores and invite other members will be to
obtain more WBY tokens from the platform. The marketplace’s initial turnover is likely to
be relatively low as stores wait for audience growth before buying advertising. Accordingly,
there will be significant spending by WeBuy on marketing to quickly grow the community.
WeBuy’s brand-building will use three quick-growth strategies:
1) Following the audience targeting strategy taken by early Facebook, the branding
campaign will initially concentrate on specific geographic areas or a small country, like
Israel.
2) Media for the campaign will be published on all social media platforms; platforms that
allow geographic, professional, and hobby targeting.
3) Direct invitations will be issued by WeBuy staff to detect early challenges in attracting
new stores.WEBUY White Paper Version 1.3 | 29
07
Corporate
07.1
Introduction WeBuy UK LIMITED is a UK company incorporated in 2018. Founders
have rich and successful experience in setting up new companies,
especially in the Internet and Blockchain arena. WeBuy has been funded
by its founders in the form of work or in capital.
Emil Guberman, CEO
Former programmer and founder of a series
07.2 of successful businesses (http://eiggroup.co).
Experience in founding, financing, and managing
Management companies and complicated international projects in
Israel, USA, UK, Russia, and Kazakhstan.
Victor Nemirovsky, CPO
Over 20 years’ experience in software engineering
and leading development teams to successfully
deliver solutions and products in automotive,
The founding robotics, automation, and A/V control industries. In
management team 2010, co-founded iRule which was sold to an industry
provides a good mix leader in 2016.
of experience and
understanding of the Yuri Voschinsky, CTO
relevant technologies Experience leading teams in data processing, big
and markets. data, cloud computing, and real-time control for more
than 20 years. As the software engineering director
for Eyeona, he managed all aspects of design and
development for a retailer loyalty platform.
Stas Manevich, CSMO
20+ years of experience in Networking Integration
and Telecom.
Ilya Yulish, CIO
Technology evangelist, cryptocurrency and
Blockchain enthusiast with over 20 years’ experience
in software and business development, holds
several patents in telecommunications network
enhancement. Held senior positions at Fasternet,
Comverse, AT&T, Olive Software, and others.07 Corporate WEBUY White Paper Version 1.3 | 30
07.3
Vered Itzhaki, Token Economics Advisor
Advisory Cryptoeconomics Expert Advisor. 20+ years in
Board managing and hedging financial risks, advising
companies on financing, and providing solutions to
complex financial issues.
Alex Averbuch, Strategic Advisor
Experienced Finance & Marketing professional
with a demonstrated history of working in the
Investment & Credit insurance and Foreign Trade
Finance industry.
Jared Polites, Marketing Advisor
New York-based blockchain marketing specialist,
Partner at Blockteam Ventures, writer at
CryptoCoinsNews, and Former FBI Analyst.
Ismail Malik, Blockchain Advisor
Leading expert in the blockchain field, founder and
CEO of Blockchain Lab, editor in chief of ICOcrowd,
+20 years experience in technology related startups
and entrepreneurship.
Ariel Ezrahi, Legal Advisor
The Slaughter and May Professor of Competition
Law at the University of Oxford and the Director of
the University of Oxford Centre for Competition Law
and Policy. His research and commentary have been
featured in The Economist, The New Yorker, Wall Street
Journal, Financial Times, The Guardian, Nikkei, New
Scientist, Politico, WIRED, BBC, and other international
outlets.WEBUY White Paper Version 1.3 | 31
07
Legal
Considerations,
Risks and
Disclaimer
Summary
Important notice: please read the entirety of the “Legal Considerations, Risks and
Disclaimer” schedule carefully. We recommend you consult a legal, financial, tax
or other professional advisor(s) or experts for further guidance prior to purchasing
WBY tokens from WeBuy UK Limited, as outlined in the white paper.
Please note that this is a summary of the legal considerations, risks and disclaimers
schedule that can be found in the following link: Legal Considerations, Risks and
Disclaimer, and which you must read in full before: (i) making use of the White Paper and
any and all information available on the website(s) of WeBuy UK Limited (the “Company”)
and/or (ii) purchasing Token from the Company, as outlined in the White Paper (the “Token
Sale”). Any undefined capitalized terms below shall have the meaning set out in the “Legal
Considerations, Risks and Disclaimer” schedule. This summary should not be relied on in
place of reading the “Legal Considerations, Risks and Disclaimer” schedule in full.
The “Legal Considerations, Risks and Disclaimer” schedule applies to this White Paper
and any and all information available on the Website. The contents of the “Legal
Considerations, Risks and Disclaimer” schedule outlines the terms and conditions
applicable to you in connection with (i) your use of this White Paper and of any and all
information available on the Website; and/or (ii) your participation in the Token Sale, in
each case in addition to any other terms and conditions that we may publish from time to
time relating to this White Paper, the Website and the Token Sale (such terms hereinafter
referred to as the “Terms”).
The information set forth in the “Legal Considerations, Risks and Disclaimer” schedule may
not be exhaustive and does not imply any elements of a contractual relationship. While we
make every reasonable effort to ensure that all information: (i) in this White Paper; and (ii)
available on the Website (collectively referred to as the “Available Information”) is accurate
and up to date, such material in no way constitutes professional advice.
The Company does not recommend purchasing Tokens for speculative investment
purposes.
You should not purchase WeBuy UK Limited Tokens (“WBY Tokens” or “Tokens”) for
investment purposes. WBY Tokens are not designed for investment purposes and should
not be considered as a type of investment. You acknowledge, understand and agree that
holding WBY Tokens is not a guarantee, representation or warranty that the holder will be
able to use the Company, or receive any Tokens utilized by the Company.
You acknowledge and agree that you are not purchasing WBY Tokens for purposes of
investment, speculation, as some type of arbitrage strategy, for immediate resale or other
financial purposes. You acknowledge that all purchases of WBY Tokens are final and07 Legal Considerations, Risks and Disclaimer WEBUY White Paper Version 1.3 | 32
nonrefundable, and the Company is not required to provide a refund for any reason and
that you will not receive money or other compensation or any form of a refund, and you
consent to no right of withdrawal from the ICO.
Tokens do not entitle you to any equity, corporate governance, dividends, voting or similar
right or entitlement in the Company or in any of its affiliated companies. Tokens are sold
as digital assets, similar to downloadable software, digital music and the like. The Company
does not recommend that you purchase Tokens unless you have prior experience with
cryptographic tokens, blockchain-based software and distributed ledger technology and
unless you have taken independent professional advice.
Citizens, nationals, residents (tax or otherwise) and/or green card holders of each
of: (i) South Korea; (ii) the People’s Republic of China; or (iii) any other jurisdiction which
prohibits the possession, dissemination or communication of the Available Information
and/or prohibits the purchase of WBY Tokens or any such similar activity or any other
Restricted Persons are not permitted to purchase tokens.
In no event shall the Company or any current or former Company Representatives be
liable for the Excluded Liability Matters.
The Company does not make or purport to make, and hereby disclaims, any
representation, warranty or undertaking in any form whatsoever to any entity or person,
including any representation, warranty or undertaking in relation to the truth, accuracy and
completeness of any of the information set out in the Available Information.
You should carefully consider and evaluate each of the risk factors and all other
information contained in the Terms before deciding to purchase WBY Tokens.
Risk Factors
The following are the risk factors in relation to WeBuy UK Limited (the “Company”) business
in general and the WBY token sale event in particular:
Please note that this is a summary of the risk factors only. You must read the following
“Legal Considerations, Risks and Disclaimer” that can be found in the following link: [ ] ,
and which you must read in full.
Token Related Risks
• The purchase of tokens is risky and its outcomes are highly speculative.
• There is no prior market for tokens and purchasing the tokens may not result in an
active or liquid market for the tokens.
• Future sales or issuance of the tokens could materially and adversely affect the market
price of the tokens.
• Negative publicity may materially and adversely affect the price of the tokens.
• There is no guarantee of any success of the company’s business platform or any future
token functionality.07 Legal Considerations, Risks and Disclaimer WEBUY White Paper Version 1.3 | 33
• The price of the tokens may fluctuate following the token sale.
• The funds paid to the company for the tokens, specifically cryptocurrencies, are
exposed to risks of theft.
• The company reserves the right to change the blockchain technology of the Tokens and
WeBuy ecosystem. Such blockchain transition could have a material adverse effect on
the ecosystem, the tokens, their functionality, transferability and/or price.
• The token may be significantly influenced by cryptocurrency market trends and the
token value may be severely depreciated due to non-company related events.
• The user's Wallet or Wallet service provider may not be technically compatible with the
WeBuy Token based and issued on the Steller protocol.
• The use of the tokens may come under the scrutiny of governmental institutions.
• The ownership of tokens may fall under new and unpredicted taxation laws that will
erode the benefits of the tokens in general, or in a specific jurisdiction.
• Any malfunction, breakdown or abandonment of the Stellar protocol, on which WeBuy
tokens will operate, may have a material adverse effect on the ecosystem and the price
of the Tokens.
• There may be unanticipated risks arising from the tokens.
• Applicable laws and regulations may limit the utility, functionality, the accessibility and
transferability of the tokens.
• Sales of tokens have been known to come under malicious attacks from hackers and/
or other parties resulting in theft of tokens. Such events may inflict massive losses on
buyers and the company.
Company Related Risks
• The Company may be materially and adversely affected if it fails to effectively manage
its operations as its business develops and evolves which would have a direct impact
on its ability to maintain or operate the company’s platform and/or services and/or
develop structure and/or any future token functionality.
• The Company may experience system failures, unplanned interruptions in its network
or services, hardware or software defects, security breaches or other causes that could
adversely affect the Company’s infrastructure network, and/or the Company’s business
platform.
• The Company may in the future be dependent in part on the location and data center
facilities of third parties.
• General global market and economic conditions may have an adverse impact on the
Company’s operating performance, results of operations and/or cash flows.
• The Company or the tokens may be affected by existing and newly implemented
regulations.
• Risk of dissolution of the Company.
• The Tokens may be affected by the Company’s decisionsWEBUY White Paper Version 1.3 | 34 09 Contact Details Address: WeBuy UK, 36 Great St. Helenʼs, London, United Kingdom, EC3A 6AP Email: info@wby.io Social Media Platforms: Telegram: https://t.me/wby_io Facebook: https://www.facebook.com/wbyio Twitter: https://twitter.com/@wby_io LinkedIn: https://www.linkedin.com/company/wby/ BitcoinTalk: https://bitcointalk.org/index.php?action=profile;u=2150923 Discord: https://discord.gg/2RwAc3P Medium: https://medium.com/@webuy_io Reddit: https://www.reddit.com/user/WeBuyOfficial Quora: https://www.quora.com/profile/webuy
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