For decades, women have been put on the back burner when it comes to power, especially when talking about finances. Now we can create financial freedom for women by empowering them/us as we transition into crypto. Halle Eavelyn’s guest this episode is Christine Curran, Founder of Women Empowerment Token (WEMP). WEMP has a wonderful mission: to create a mass adoption of crypto by bringing more women into the space. Listen in as Christine breaks down how they’ve built their platform and what they’re doing to help women from all over the world take financial independence into their own hands.
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How Crypto Can Empower Women Into Financial Freedom With Christine Curran
I am with the incredible Christine Curran. I am so excited to have her with us on the show. She is somebody that I’ve known in this space. Christine, I want to share with everybody what you are doing but I’m going to let you do that. Welcome.
Thank you for having me. I am the Founder of the WEMP Token, which is the Women Empowerment crypto. Our whole mission is to create mass adoption in crypto by bringing more women into the space and educating them because that’s the most important part. Otherwise, you can just throw money into crypto and lose it. You need to understand it, learn how to read the charts, and understand the lingo. Education is a big part of what we are doing.
We have three different verticals for the project. We have an Oscar-style award show with 60-plus female influencers from all different walks of life with over 100 million followers. We are going to be using that Oscar-style award show to help get the token out to the masses around the world so people are aware. It’s for brand awareness.
We are also be using that currency at the Oscar-style award show for live streaming, voting for your favorite influencer, and buying tickets. You can purchase these things with the WEMP Token. It has the utility attached to it. Besides that, we filed for a nonprofit because we do have a buy-sell tax that we give back to nonprofits around the world that help support women. We also have a buy-sell tax that helps female entrepreneurs with grants but we want to expand on that and do even more. We created a nonprofit so we can take more donations to help the causes that we are supporting.
Our third vertical is the incubator program, which is in the works now with a big capital firm company that is structuring the incubator. We will have mentors. We will have a fund that will have investors that will help fund women’s businesses and help them scale to 7 and 8 figures. We are excited about helping women all around from the influencer model awards to the female entrepreneurs and to the charities that support women.
One of the things I do is explain stuff in plain English to people. So far, the only thing that I want to ask about is the buy-sell tax. Can you just talk about that a little more and why you think that’s important?
With every crypto, there’s a buy-sell tax and those taxes go to different causes. Some of it is for charities. Sometimes it’s for salaries, for the staff or whatever their purpose is, the liquidity wallets. For our buy-sell tax, we have 1% for charity, 1% for the female entrepreneur grants, 1% for salary for staff, the liquidity wallets, and so forth. All of our tokenomics you can see at our website at WEMP.world. You can also join our community. We have a very fruitful Telegram group but we also have our own forums and community app, which is super dope. I would love for you guys to get in there, check it out, and join the community.
That’s lots of wonderful stuff. I love Women Empowerment Token, WEMP. I was so crazy about what you were doing but I was also impressed because you are so poised and you have built such a great platform with your model show that you’ve got a huge audience that you can share what’s going on in the crypto space for women. I think that’s very important.
I’m going to go back to the buy-sell tax. If I understand you correctly, when you buy or sell the web token, there is a tax in the denominations of the amount that you mentioned. For example, 1% would go towards the staff salaries and 1% would go toward this vertical that you are doing to help the women build their eight-figure businesses to help educate them. You are peeling off a little bit of every transaction so that you can stay funded and also help fund the other projects. Does that sound correct?
You said liquidity wallet and a liquidity wallet are two words that have not yet been put together in any episode of this show. I do try to track that so that I can explain it to everybody. If you could please explain as close to plain English, as you possibly can when you say liquidity wallet, what does that mean?Crypto is a constantly evolving, changing industry. Every single day, there is so much more being added that no one person can keep up with. Click To Tweet
We need liquidity to go on different exchanges. We have to keep our wallets packed with liquidity to exchange on these different exchanges. We have a certain amount of liquidity for BitMart. We have a certain amount of liquidity for PancakeSwap. We have the liquidity that’s on hold or locked up that we are going to be using in the future for other exchanges. It’s what you need to be able to transact on exchanges.
When Christine says exchanges, she means the platforms that allow you to buy and sell the tokens. Exchanges that we have talked about on the show include Coinbase or Crypto.com and the ones that she mentioned are BitMart and PancakeSwap. Those are exchanges that handle coins that are more in the Altcoin space. The WEMP Token is one of those Altcoins. Altcoins have gotten a pretty terrible reputation. We’ve got the Bitcoin maxis. Those are the people who are Bitcoin maximalists. They think everything that isn’t Bitcoin is terrible.
I invite my guests to curse on the show any darn time they want but I don’t. I will say there’s a fun word that begins with S. The S coin is the other nickname for Altcoins. The reason is that there are a lot of people who say that Bitcoin is the only thing. There are other people who are like, “Bitcoin, Ethereum, maybe Litecoin or Cardano, but everything else is terrible. Even those are considered Altcoins.
Somebody said there were 27,000 coins already. My mind is boggling but every five minutes somebody is coming out with a cool idea and calling it a coin. What I liked about WEMP is that you have something behind it, which is all of these wonderful projects but you also are about empowering women inside of those platforms, which that’s what this show is about.
I’m going to go back real quick. I want to touch on the idea of liquidity. Capital, money, in other words, you need to have some of that held against your tokens so that you are protecting yourself against on the exchanges and also you are holding some of that capital in a way that if you make it liquid, it means that you could turn it into cash or turn it into these tokens or whatever was needed on an instant basis. Does that sound like a good definition?
You explained it much better than me.
The reason that I want to explain it that way is that I know that there are people here who get business, they understand and there are other people who are going to be reading this who have no idea. Even saying the word capital isn’t something that they are familiar with. I like to talk in terms of cash but I want to make an important point here very quickly before we move on. What Christine is talking about is taking fiscal responsibility inside of the token platform and inside of the platform that she’s using in a way that the US dollar does not. The US dollar at this moment is still, since 1974, backed by nothing because they used up all the gold in Fort Knox and then they decoupled it. That’s why they could print.
Now, they have said that 40% of all the money ever in circulation was printed in the last few years. I have heard those numbers as high as 80% which my mind begins to hurt and explode a little bit. Even 40% is ridiculous and it was 30% six months ago. When you say that you have these liquidity wallets, when you say we’ve got to set aside a certain amount of capital and money to back our token so that we can stay on these exchanges, we can add more on exchanges, that to me is how we should be doing everything because it represents the fiscal responsibility. I know that’s what’s required. When people start talking like, “Crypto is a total rip-off or crypto is dangerous,” or whatever all the naysayers say, I’m reminded that you are creating fiscal responsibility from the ground up and that’s so important.
I had people that don’t understand the crypto market and I was one of them. I’m learning every day. The interesting part about crypto is it’s very new for the masses, for the majority and it’s still not even where it’s going to be. We are not even in mass adoption yet. We are still very early learning now but it’s a constantly evolving and changing industry. Every single day, there is so much more being added that no one person can keep up with everything in crypto with the metaverse and the NFTs and every real estate. It’s outrageous all the things that are happening in the space. It’s an ever-evolving industry that you are constantly learning and trying to keep up with.
What I find cool is that no matter what the token is, if it’s an Alt. Token or a stablecoin, you are able to exchange that token for real money. Sometimes it’s a couple of steps process. You have to sell your WEMP for BNB and then you have to change your BNB out for USDT and then you have to transfer it to your bank. That’s why you are able to make big gains now is because it’s not simple. It’s not a one-step process but you can change it for real money. Once you understand the process and understand how it works, it becomes a lot clearer to you what the vision is with the crypto market.
Think about it. First of all, nobody has been in crypto for very long. If you have been in for two years, you are practically an OG but the real OGs are the people who have been in for many years. That word translates to original gangster but OG should be called original grandfather or original grandmother because that’s the people who were there first. What you said was real money and it’s a totally normal mindset. We all have this idea that real money is cash but as more time passes, cash is getting decoupled from the idea of real money.
I love to demonstrate for my crypto classes because I do an intro to a crypto class called CryptoCurious. I love to demonstrate with a $100 bill and with a check that both of them are just pieces of paper and we’ve assigned this value to them. We call that value real money, for example. I was at the Bitcoin Conference and got to hear Roatan in Honduras, which is an independent democratic state say that Bitcoin is legal tender now.
I’ve got to hear the same thing from Madeira of Portugal. I’ve got to hear the woman senator from Mexico say that she is talking to the president of Mexico about making Bitcoin legal tender. It’s happening. There are three bills from US senators. The United States isn’t going to want to be late to the party. We are going to get there but isn’t it amazing how fast this stuff is unfolding?
It’s absolutely mind-blowing. It was COVID that instigated this. Everybody was locked in their homes and they were looking for things to do. It was PPE, personal protection with gloves and masks or get into the crypto market. Those are like the two things you could do and I did them both. I will say PPE was definitely not as beneficial as crypto but they both went through a lot of scams, fraud, and so forth. The people that took the time to educate themselves are the ones that came out on top and I like to press that.
We have Claudia Pimentel who’s from IM Academy. It is an academy for all different types of finance and trading but they have a specific vertical for digital currency. She is our Head of Educational Resources at WEMP. She is starting a podcast radio show once a week called WEMP Wednesdays. She will be doing education and helping women understand the basics of crypto. That is the most valuable thing you can do now is educate yourself because crypto is coming. It’s happening. You are not going to be able to avoid it, so you need to learn and you need to get educated.
What do you want to share with women who are scared? A lot of women have been told, “We don’t handle the money. Your husband, father, brother, Uncle Bob or your banker handles it. It’s somebody who is not you.” I feel like there’s a lot of legacy stuff. When Nixon changed the gold standard, around that same time, thank you, Ruth Bader Ginsburg, women first were able to have their own mortgages and bank accounts. We all have this big, long legacy of, “That’s okay, sweetie. Don’t bother your pretty little head about it. Your man will figure that out.” What do you say to women who have that kind of a legacy and are scared to get involved?
More and more women want to learn financial independence and freedom. The best way to do that is to start with something small. Start with $50 or $100. Research the project that you want to put money into. Another thing that’s important with Altcoins, especially is that the team is doxxed. I am very vocal that I am the Founder. I take responsibility for the business that I’m creating and the project that I’m developing with my team. Everybody on our team is very vettable. You can go look us all up online. We are all over the place. We all had great accolades and credentials for things that we have accomplished in our lives.
That’s very important because with a lot of Altcoins, what happens is they hide behind these little memes or whatever. They can pull what’s called a rug pull and let the coin run up. They then pull out all their tokens. As the founding members, they’ve got the token at a base cost and you guys run up the money. They then pull it all out and they leave and abandon the project. That is why Altcoins have a bad reputation. You definitely want to make sure that the team has doxxed. You want to make sure you know who’s behind the project. You want to see what the mission is, the goals are, what their white paper is and what should be on their website.
There are all those things to research. It’s like any investment. If you are going on the stock market, you want to make sure you are researching what the company is doing and who they are. My suggestion is to research, find a token that you feel comfortable with and learn about it by putting in $50 or $100 and watching it move. Watch and learn how to read the charts. You have to take the time and invest in yourself.
When Christine says the word doxxed, in this particular case, she’s basically saying that you want to vet the team. I also want to point out that Christine is talking about the idea of a white paper. A white paper is very important to any crypto project because it’s the original document that says what it’s going to be and what it’s going to do. This started with the very first crypto white paper which was from somebody that called himself or the group of themselves, Satoshi Nakamoto, which was the Bitcoin white paper. It set up a standard where since then, every project has a white paper and as Christine said, you can get it on their website. If you read that white paper and it’s two pages and it’s like, “We are going to do all this cool stuff,” and there’s no backup to it, that’s a red flag.The most valuable thing you can do right now is to educate yourself because crypto is coming; it's happening. You're not going to be able to avoid it. Click To Tweet
We’ve got to know going in how to research what we are doing. When Christina is talking about looking at the charts, there are basic, basic things that you need to know for example, what a market cap is and why market capitalization for that point is possible. Every time I see somebody who says a project is going to the moon, which means the project is going to be making lots and lots of money because it’s going to go to the moon like a rocket ship. I always laugh because if you do the market capitalization of that particular project, it would be more than the gross domestic product of the United States, for example. It’s not realistic or it would have had to have climbed 1,000% and that’s not realistic.
Using those tools, which are fairly simple, you can look upmarket cap and look at the formula on your favorite internet search engine, you are going to be able to find the results of that. Christine, what you are sharing with everybody is basic good sense. The fact that you are doing this, there are so many good people doing these incredibly good projects, and then everybody wants to paint Altcoins with a single brush, for example. I love that you are in there against the stereotypes.
You’ve got to teach people and don’t be scared of the lingo. The lingo is a little much at first but the white paper is like a business plan. Doxxed is vetted. They have fancy crypto words but they all have similar meanings to everything else that we do in life and business. Once you learn the lingo, it comes naturally. It comes easy.
Talk a little bit about how the WEMP Token empowers your three big projects. I know you’ve said that at a large level but I would love to know a story or two about how it’s impacted those things.
The influential model words are known as the IMEs. We were already working on that project prior to COVID and in COVID, we came to a complete halt on it. When I jumped into crypto with my partner, he empowered me to learn crypto and taught me. It’s a lot. When you first get into it, from downloading the wallets and figuring out which wallet. There’s a lot going on and it can seem like you are learning Chinese, literally. He had taught me and got me into the basics and I started to understand it. That’s where I came up with the idea that, “We have these global events with the masses. Why don’t we have a global currency?”
It’s so people can watch the show and they can pay for it with our currency instead of having to accept all these different currencies for them to be able to watch the show or vote for their favorite influencer, buy merchandise or whatever. That’s where it came about but there are a lot of developments that have happened because this is not just an American token. We want this to be a global token. There are a lot of women out there. Our influencers are very Hollywood. There’s a lot of combat and stunts, beauty, swimsuit, and plus-size models.
We have all these different categories like sports, makeup, and all these cool categories. With the charity, there are a lot of women out there all around the world that aren’t even in that space. They don’t even understand that space. We want to help and empower them too. The charity component is very important to us because we want to help different charities around the globe in different countries and third world countries.
There are so many women that have great ideas that are very smart and educated, even but they don’t know how to run or scale their businesses. We want to help those women as well. I feel that with the three different verticals of the project, we are hitting the masses and helping women in every country and different financial situations and so forth.
I’m so excited about what you are doing. It’s so powerful. Launching this token probably was a little bit daunting because it’s your first token and you are doing it as tokens are starting to become a big thing. How long ago did you launch and what kind of lessons as a businesswoman did you learn from having launched a token for women?
It has been a lesson. I’m a serial entrepreneur but this is a whole different industry. Luckily, we have a great team of developers but it’s such the Wild Wild West and there’s not a lot of regulation on anything. That’s a good thing and a bad thing. You’ve got both sides of the plate there. We’ve given money to people who have scammed us for different services. There’s a lot of scamming in crypto. We’ve gotten pretty good at vetting things now but we have definitely got taken for some money.
We started on Ethereum. We launched in October of 2021 and for numerous reasons, we felt that was a good place to be but honestly, the gas fees were so high. We have a buy-sell tax to sell and buy our token but then there’s a fee that you have to pay from the blockchain. Ethereum has very high gas fees because they have people all over the world making the token move versus Binance.
Binance has very low gas fees. The gas fees were so high in Ethereum that we decided to migrate and do a relaunch on Binance. We did and it has been going great. I will say, in our first initial launch on Ethereum, we did 4,500% in three days. We killed it. We slaughtered it but to keep that momentum going and to get more token holders, was difficult because of that high gas fee. We moved to Binance. It’s so much better. We were having such a better opportunity to get more people in especially new people because we want to have new people come in. We don’t want them to come in and have to spend insane money to learn. You want to be able to learn and throw $50. If you are paying $50 in and gas fees, that doesn’t make sense.
Binance is interesting because they have been very limited in the United States. It is one of the exchanges that I know. When I’ve got in 2016, I could get in for a while but then you couldn’t because they basically weren’t allowed to transact in the United States but now there’s Binance.us. You can but you can’t get all of the functionality on Binance.us that you can get on the regular Binance if you are a European, an Australian or another country that isn’t the United States. I thought that was interesting. I guess your token is available on Binance.us.
Let me clarify because this is where it gets complex.
You are talking about the chain and the blockchain of it.
There is a Binance Smart Chain and there is the Binance Exchange. I don’t know why they did that. They are just trying to screw you up and get you confused but no, we are a Binance Smart Chain token. It’s a BEP-20 token.
Can you buy WEMP on Binance or you can’t buy WEMP on Binance?
You can purchase on BitMart and PancakeSwap. I do transfer my tokens out to my bank account through Binance.us. I do use it to transfer my tokens out when I cash out.
You talked about the fact that you might have a four-step process to get the money to the bank. I recognize that when you are a token came out. That was around the time that I met you or a little bit after when I met you. I noticed that big run-up and that’s what happens with a lot of people. They think they are coming into that altcoin for five minutes. They are going to be in there for 2 or 3 days. They want to see that big run-up and then they want to pull all of their money out and go on to the next thing and do it again.
While that’s great, magic internet money, as they call it a get-rich-quick scheme and it does work sometimes, it’s not very good for the projects themselves because it creates what’s called in the industry a pump and dump. My question is, have you done anything to keep your numbers more even or was it only at the beginning and you didn’t have to worry about it after that and you won’t have to again?More and more women want to learn financial independence and financial freedom. The best way to do that is to start with something small. Click To Tweet
Being our first token, it was pretty mind-blowing to see your wallet get that fat. I have never seen that much money in my life. My partner never took a dollar, not one single dollar neither did my partner, any of the early investors but one did and we cut him out of the project. He’s not allowed in any of our other projects because we had an agreement that none of us would take any profits in the beginning. I took $500 at the very end when we were transferring from Ethereum to Binance.
This is a great thing. At the same time, we have a buy-sell tax, 1% goes into reflections. The longer you hold your tokens, the more money you are accumulating. You are getting more and more tokens by holding. If you started with a million tokens, every time there’s a buy-sell, you get 1% of that back in there. The more tokens you have, the more reflections that you will get in your wallet. We are deflationary so we are constantly burning tokens.
That’s a lot of information that I want to back up a little bit and break down. Talk about reflections first a little bit more, and then talk about things being deflationary. Let’s also talk about things being burned, just so everybody is on the same page. Thanks for slowing down for the newbies but it’s super important.
The most important part is that you understand it. Reflections are bonuses, per se. By holding the token, you are rewarded for that. You get what we call reflections, which are rewards. With the buy-sell tax, we have 1% for charity, 1% for entrepreneurs, 1% for liquidity, 2% for marketing and 1% for reflections. Depending on how many tokens you hold, you will get 1% back in reflection. The more tokens you have, the more reflections you get every time there’s a buy-sell. That’s your reward.
Also, we are deflationary so we are constantly burning tokens. The US dollar is inflationary, we are deflationary. We are constantly getting rid of more and more of our supply. We started with $1 quadrillion. We burned $400 trillion right at the launch. We are constantly burning tokens every time there’s a buy-sell. We also do a master burn. When we hit a certain amount in our buyback wallet, we did a $10 trillion token burn, which helps drive the price of the token up. It gives it a little pump. We are constantly getting rid of some of our supplies so eventually, we will have a very in-demand supply. Your token will be worth a lot more and you won’t have to have as many.
I want to add to that. The idea behind burning tokens is the idea that you are destroying them. They are never going to be available again and it makes the pool of tokens smaller. If you had a swimming pool and you had 3 feet of water in it, you took out 1 foot of water, you would have 2 feet of water in it. That would make the remaining water more valuable if you wanted to swim. That’s the idea behind burning the tokens. Deflationary means that they are going to go up over time. Gold is a deflationary currency and there are other currencies that are deflationary as well. As Christine pointed out, the dollar is not one of them. The dollars are inflationary.
We are recording this episode at a time of hyperinflation. The US is now at least admitting to having printed 40% of all the money in circulation. Now, let’s go back to our pool analogy. You put 40% more water in the pool, how come the level of water only rose 8.5%? I know there are other factors for inflation but it doesn’t feel logical to me that it’s that low once you factor everything in. I know a lot of economists will agree with that and they study the numbers part of this.
My gut instinct is we are not being told the whole story. That is what my guidance or my intuition tells me. There are a bunch of economists also saying that as loudly as they possibly can because they are looking at the more masculine side or the hard data numbers and not the intuitive side. I get it. There are other factors. The water isn’t going to go up 40% just because you put 40% more water in the pool. If it’s probably only going up 8.5%, they are probably not telling us all that there is.
I love what you are talking about because what you are saying is you created an ecosystem for the WEMP Token, which is going to make it more valuable over time and more stable as well. You mentioned stablecoins. I’m going to mention to all of our readers that stablecoins are usually pegged to the US dollar and not backed by. If you have a dollar USDT, which is Tether or USDC, which is the Dollar Coin, which are two of the many stablecoins that are out there. They are the two most well-known.
If you have a stablecoin, you are a crypto stablecoin is pegged to the dollar. It doesn’t go up and down. It doesn’t fluctuate. It is inherently stable because it’s always worth $1. No matter what the value of the dollar is, it’s always worth one of them. That’s what makes it stable. All of these things are parts of your own research and understanding to learn more about why you want to be involved with crypto.
Christine, I love your enthusiasm about this whole thing because I feel this so strongly. Women everywhere need to know about this. They need to be making these choices of empowering themselves with wealth with the Women Empowerment Token. You did this to help empower them. Tell everybody how we can learn more about you. Go ahead and give them all the details.
You can go to WEMP.world and join our community and our Telegram. You can ask as many questions as you want on Telegram. We have such a great community. They will answer questions for newbies all day long. You can reach out to Claudia who’s our Head of Educational Resources if you have additional questions. She’s always in Telegram too and in our community, our forums that I was talking about. Join us at our website and let’s get connected.
Is there one thing that you would like to share with our audience? What else do you want them to know about crypto, WEMP or whatever you would like?
We are excited to create mass adoption. Without mass adoption, we can’t use crypto in everyday life. It’s going to happen one way or the other but our mission is to help that and move it along quicker by educating women. We want women to learn. We want them to educate themselves. There are a lot of women around the world that have never been able to have financial freedom. They are not in charge of the money. Those things are changing slowly. This is a great way for them to be able to learn, connect with the rest of the world, and have their own independent financial freedom.
Thank you so much. This is Christine Curran, who has been my guest in this episode. If you have enjoyed this episode, please subscribe. We are on your favorite platform, whether that’s YouTube, Spotify or iTunes. We are on seventeen platforms, so come and subscribe. Also, share this episode with other women. As we shine our lights, we empower other women to shine their lights and so on until the whole world is illuminated. I will see you in the next episode.
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About Christine Curran
@DiningDivasTV – Founder & President
@WEMPTOKEN (WEMP) – Founder
@InfluentialModelAwards – VP & Host
@AmericasGoneViral – Producer & Partner