WHAT

WYV, the Project Wyvern token, is an ERC20-compatible Ethereum token.

ERC20 is Ethereum's standard for a particular kind of smart contract called a token.

Tokens represent unitized value - like a currency.

WYV can be held in and transferred between Ethereum wallets and smart contracts.

WHY

The WYV token is a protocol token: it powers the Wyvern Exchange.

Users must pay a small fee (a fraction of a percent) in WYV to settle purchases on the Exchange.

This provides a mechanism to support protocol and frontend development.

WYV holders are also shareholders in the Wyvern DAO.

The Wyvern DAO is charged with furthering the development of the exchange and, when necessary, arbitrating disputes.

DAO shareholders vote on proposals and determine what transactions the DAO executes.

WHO

You, the users, hold WYV and control the Wyvern DAO!

The WYV token was originally converted from a Bitcoin-style altcoin,
so early miners may hold some tokens.

The current development team holds a modest amount,
but we didn't specially award ourselves any.

You can view the current (pseudonymous) list of tokenholder addresses here.

FAQ

Was there an ICO?

There has not been and will not be an ICO of any kind.

Is WYV a utility token?

Protocol users can pay settlement fees, set by frontends, in WYV - so we think so.
This is not legal advice.

Do I need to use WYV to sell assets on the Exchange?

No. WYV is just used to pay for fees on the Wyvern Exchange (and using WYV is optional).
Assets can be bought/sold/auctioned for any token.

How do I pronounce it?

WYV is pronounced "why-vuh" - but you can also just say "Wyvern".