To create this financial platform, Wala is looking to raise US$30M this October through an ICO and issue participants with their share of 300 million Dala utility tokens.
The Dala utility token sale starts on October 15, 6PM UTC and will use the Civic app to provide identity verification services to backers. To participate in the Dala presale and public sale you must complete registration by October 12, 2017 at 6pm UTC.
The Dala utility token is a general-purpose ERC-20 crypto-token created to enable free banking for emerging market consumers. Using the Dala Utility Token, the Wala financial platform aims to power financial inclusion for the next 3.5 billion people in emerging markets powered.
The Dala token is fractionally divisible and is independent of all local currencies and cryptocurrencies. Consumers will be able to engage in the Dala ecosystem by making transfers using their own token wallets, via the Wala Financial Platform, or through other applications built using the Dala API.
The first application to make use of Dala will be the Wala Financial Platform. Upon launch, the Dala token will have immediate utility within the Wala Financial Platform where a user can transfer Dala to other Wala users for free, remit across borders, and redeem for airtime, data, and other value-added services. Together, the Dala token and the Wala Financial Platform can remove all barriers enabling free and accessible financial services.
To enable a robust Dala ecosystem, Wala will incentivize users through a rewards model and seed partner service providers. The Dala token rewards model has been proven, supports the acquisition of billions of consumers globally and drives adoption of merchants, SMEs, banks, and corporations.
Dala is issuing đ 1 Billion (1,000,000,000) tokens to raise $30 Million. Founded by Tricia Martinez, Samer Saab and Ross McEwan, Wala is a financial platform with a mission to help people reach financial prosperity by eliminating the barriers to banking. Wala achieves this by making basic banking free and by making all financial services available through a customer’s phone.