In this article we are going to give you all the information about Wax (WAXP) Token, we will also explain how to buy WAXP Token.
Introduction to Wax BlockChain:
With the advent of distributed ledger technology and blockchain projects in the last decade, many projects have created solutions in search of a market (the market for digital goods) and customers. However, Worldwide Asset eXchange’s approach is the opposite.
We began our effort with a market that we deeply understood, as operators of a successful business and millions of registered customers. We had a long list of challenges that needed to be solved in order to grow the digital goods trading market globally. We waited several years to start building WAX until the blockchain was mature enough to handle the many requirements for success. most fundamental requirement was that it could handle the transactions per second necessary for our pre-existing consumer demand, with room for significant growth. We designed WAX to solve a specific set of problems in the digital product market that already has millions of consumers wanting to use it.
market for digital products is large and growing rapidly. What many do not realize is that the market for digital goods includes both virtual items such as video games and tokenized consumer products. Video games are a $ 140 billion market and tokenized consumer products are a $ 1.8 trillion market. combined market of nearly $ 2 trillion is the market that WAX is targeting. In the 12 months of operation of the WAX Protocol testnet with its two largest dApps, VGO and vIRL, the combined trading volume exceeded $ 150 million.
WAX view of the state of Blockchain in 2019
Since the announcement of the WAX project in June 2017, the market has rapidly evolved around digital products. This section on the state of the industry provides context for the decisions we make when designing the WAX Protocol.
Major companies enter the market
Many have wondered how to build a commercially viable business platform in the blockchain world, given the challenges from a regulatory standpoint. Most government agencies cannot agree on who regulates cryptocurrencies. In addition, major financial companies, technology companies, social networks and other powerful institutions are now looking to compete or work with many companies in the blockchain industry.
With the announcement of blockchain initiatives by Facebook, JP Morgan, Fidelity, Bank of America and others, the ecosystem is seen to be rapidly legitimized in the last year. Visa and Mastercard have signed up to be nodes in the Proyecto Libra digital currency. Who would have predicted that in 2017?
In this context, we see several other major challenges.
Centralized carals compete with Blockchain
transition from a centralized to a decentralized blockchain caral for WAX was not without its challenges. June 2018 was an important moment for WAX as we announced the launch of WAX ExpressTrade. It is a free to use product for anyone for trading digital goods and a prototype of the microservice layer of the WAX platform.
WAX ExpressTrade competed with Steam, the community marketplace operated by Valve (the publisher of the Counter-Strike: Global Offensive game, also known as CS: GO). problem was that CS: GO was the biggest source of our virtual unsurts at the time. Since the publisher of the game objected to our product announcement and threatened to ban our trading bots, we had to choose between launching into our blockchain future with that product and being banned by Valve, or holding back and remaining indebted to the platform from Valve.
We made our choice and today we are making more volume than ever without the fear of Valve’s policies that sometimes seemed arbitrary to us. Being 100% independent was a difficult decision for us, and yet an important one to separate WAX from the centralized control systems that dominated the fur market. Games like Fortnite, CS: GO, and many others have centrally controlled skins that prevent or severely restrict trading. However, we see that this trend is changing (more on this later).
As a side note, vIRL dApp and other dApps like this can make any item marketable on Steam also marketable on WAX. At its core, WAX is the technology wrapper that encompasses every other virtual item out there. Interoperability by design makes WAX very versatile.
Ethereum almost wiped out our business
In 2018, after the split with Valve, community developers quickly released a dApp for skins, VGO. VGO had already been in the works, but the unexpected break with Valve caused us to work with the developers to release it earlier than expected. Despite that, they anticipated that everything would work out well in theory … until we started using the most widely used blockchain at the time, Ethereum. Shortly after launch, we woke up one day to find that VGO was suddenly losing millions of dollars a day due to the slowdown and costs of the chain. Yes, Ethereum almost wiped out the largest app app in the world (at the time). Don’t get us wrong, we love Ethereum. However, trying to build a viable commercial business is an entirely different matter. However, during a peak in the network
Using ork that slowed down confirmations from minutes to hours and increased transaction fees 100 times overnight, the dApp, VGO, could not be used. So VGO switched to an alpha WAX network. It was the only way to make that dApp work because the WAX protocol blockchain wasn’t ready yet.
WAX: Blockchain is still expensive and difficult to use
Today, VGO runs cheaply and easily on the WAX protocol blockchain. A VGO-like dApp can also do the same because WAX handles the hard parts. WAX developers have worked tirelessly to address many unanswered questions and solve difficult problems. Governance, voter apathy, interoperability, backward compatibility, security, and a long list of other challenges required an enormous amount of time and debate. We must congratulate our developer team for working on most of these last year. We are proud of both our world-class developers and the blockchain they created. We also want to thank the core EOS developers and the folks at StrongBlock for their guidance and input.
In general, experience in building a business with a blockchain should make anyone, like us, conclude that it is not easy. WAX developed solutions to solve several particular problems that we detail below. However, a centralized system is always easier to build and manage. By accepting this design principle, it informed our choices to build the microservice layer that gives dApps a considerable advantage when operating in WAX.
As the blockchain market matures and projects need to achieve real financial results to sustain themselves, they need to acquire customers, so generating profit becomes the top priority. transition from starting with a visionary moonshot idea to a real business is what makes WAX so important. Every day, developers look at WAX and see an opportunity to expand their business with minimal work. WAX saves many types of businesses time by acquiring customers, classifying and understanding their value, accepting fiat payments (government-backed money), purchasing digital inventory, and addressing many other business-critical functions.
How do dApps acquire customers when their interfaces are difficult to use? Customers find WAX easy to use, so dApps that use WAX don’t have that problem.
How do dApps accept fiduciary payments or allow customers to bring in their inventory of items and account balances so they can use those items or spend balances? WAX handles all of these functions, so dApps that use WAX don’t have that problem.
How do dApps create truly provable random functions? With WAX, the random number generator is on the blockchain, saving dApps a ton of effort to build their own, while also demonstrating the fairness of the random number generator to customers.
WAX was designed to make blockchain easy for dApps. We did the hard work, so dApps don’t have to.
Digital goods = NFT
Unlike fungible tokens, such as bitcoin and ethereum, where one token is indistinguishable from another, with non-fungible tokens (NFTs), such as VGO, vIRL, and ERC-721/1155, each item is unique and is a particular item.
Digital goods, or NFTs, are popular talking points in today’s blockchain world. But not so long ago, in mid-2017, the use of tokens to secure, store and ship virtual items in video games was discussed by only a few projects and crypto enthusiasts, those who understood video games. With the general popularity of video games and the idea that NFTs could replace virtual unsurts in a video game centrally controlled by game publishers, we have seen many protocol chains dedicate hundreds of millions of dollars of investment to NFT and video games. With the Ethereum-based ERC-721 standard, which later led to the ERC-1155 standard, many video game developers started looking for this new opportunity to attract gamers around the idea of real ownership of their virtual unsurts. recurring theme of these protocol projects was to encourage more game publishers to create NFTs to run on their chain because that would drive adoption.
Seeing some of the top 10 protocols discovering and then focusing on video game assets was a satisfying moment from a WAX perspective because we’ve been focused on this market from the beginning and saying all the time that it’s the way to go. WAX is a protocol chain especially dedicated to digital products and, as we predicted, and others have concluded, video games are the gateway to mass adoption of blockchain technology. More consumers are likely to use virtual unsurts of video games and blockchain-based digital products than any other application available today. With 2.3 billion gamers worldwide and $ 140 billion spent annually, it is a large enough audience to spend enough money to power blockchain technology in everyday use. We see the beginnings of that adoption already based on the daily metrics of WAX.
In general, we see various NFT markets struggling because they are trying to interact directly with smart contracts and cryptocurrencies.
We fundamentally believe that such an approach only leads to customer loss because it is so laborious and challenging. NFT market’s small customer base and low activity suggest, as we believe, that customers want something easier, faster and cheaper, as well as fiat payments. Since WAX has the highest liquidity with fiat payments and is easy for clients to use, we believe that all items will eventually end up connected to WAX.
All roads for digital products lead to WAX.
$ 2.0 trillion market potential
WAX’s target market for digital products is a superset comprised of virtual video game items ($ 140 billion in total sales, $ 50 billion in secondary trade volume) and potentially tokenized consumer e-commerce products ($ 1.8 trillion out of a $ 2.8 trillion global e-commerce marketplace). In our calculation, we add the top video game and video game item sales and the minor virtual item sales because the WAX platform supports both. subset of products that we consider tokenizable is the $ 1.8 trillion of the $ 2.8 trillion ecommerce market. Together today that’s roughly a total market size of $ 2 trillion for digital products.
That is great. Having processed over $ 550 million worth of items on the WAX Protocol Blockchain testnet in the last 12 months, we are pretty confident that clients like what we have built so far. But we have a long way to go to capture the potential we envision for WAX.
Fiat and Crypto try to get along
Fiat currencies and cryptocurrencies, for the foreseeable future, must coexist so that the platforms can take advantage of blockchain technology and also provide the convenience that consumers expect when using credit cards, debit cards, and ACH. Cryptocurrencies are not yet a primary payment method of choice in any major business segment and are generally considered an inconvenient way to pay. Although merchants are drawn to the idea of low fees and no chargebacks, volatile coin prices and the difficulty of the checkout process itself prevent them from taking advantage of blockchain technology.
huge hidden cost of fiat currency conversion
Cross-border trade was worth $ 25 trillion in 2018, representing 30% of global GDP. This trade is facilitated by 180 separate fiat currencies. Since most buyers and sellers doing cross-border trade prefer their own native currency, a forex broker is needed to help settle the transaction. Of course, this help comes at a high and often hidden price. Currency conversion costs are incorporated into the foreign exchange buy / sell spread. se currency conversion spreads are like a hidden tax amounting to hundreds of billions of dollars annually for global consumers and corporations. Where does this money go? It is captured by thousands of payment processors, banks, currency traders, and other financial institutions.
Now imagine if there was only one coin. If all prices were denominated in the same currency, and everyone used that common currency for payment, it would amount to a global dividend for humanity in an amount equal to those currency conversion costs.
This ambitious (and unrealistic at the moment) idea is the inspiration for the Facebook stablecoin. Facebook highlighted excessive transaction fees as one of the main reasons for the creation of Libra Coin. Facebook is well aware of the high payment processing costs consumers bear when making purchases, particularly small cross-border purchases. se fees can sometimes exceed 50% for small transactions in less liquid currencies.
WAX identified the cross-border consumer payment problem early on due to our experience operating Opskins, a digital goods exchange that serves a global audience. Most Opskins customer transactions involve a buyer and a seller in different countries. And most transactions cost less than $ 25. We saw an opportunity to employ blockchain technology to make buying and selling digital goods with anyone in the world cheaper and faster.
WAXP Token: Instant Ownership Transfer
Markets for physical goods today are subject to the inherent friction of physicality: objects are heavy, take up space, and must be handled, packaged, shipped by boat / truck / plane, physically tracked, scanned, and paid for at customs. . We generally think of taking delivery, and therefore ownership, as the equivalent. Today, physical “ownership” (possession) through electronic commerce often takes hours, days, or weeks.
However, consumer goods tokenized in vIRL dApp travel at the speed of networks between the parties. That means customers can trade a pair of sneakers with someone in a different region globally and have possession of the tokenized good in seconds. No other technology allows instant transfer of ownership of consumer items regardless of distance and jurisdiction. Possession is still subject to shipment, but as it turns out today, much of the trade does not require possession, and more trade is going in that direction.
In the case of vIRLs, this is especially true
because they are tokenized physical collectibles, like a pair of expensive sneakers. It is much more efficient to inspect and certify the shoes once and change hands many times digitally before the actual shoes are pulled from a warehouse and shipped to the last person to redeem them. Rather than mailing the item back and forth every time it changes hands, the item remains and ownership is transferred digitally. VIRLs can change hands 200 times (or more) and accomplish in a week what would take more than a year if the shoes had to physically move each time. For collectors of expensive items, vIRLs are even more attractive because each time the item is touched or moved it may incur a cost of authentication, packaging, and insurance, or add wear and tear to the item, degrading its value. ViRLs help keep collectibles valuable and make it easier for collectors to trade, sell, and ultimately increase the value of their inventory.
global liquidity pool is a barrier to entry Because vIRL digital products are so easy to transfer on WAX, the frequency of exchanges increases and makes the market more ‘liquid’. That means items sell faster, and in turn, the market attracts more items.
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other advantage of the WAX caral is the global supply of items that everyone has access to when you launch a dApp. Obtaining inventory immediately from anywhere in the world is invaluable for a store. Similarly, new stores are continually adding new products for sale that could end up being sold in some other market. Buyers and sellers benefit from each other and the larger the liquidity pool, the greater the network effect and the more difficult it is to replicate what WAX has built.
eSports, influencers and monetization of attention
A major source of video content related to gaming comes from eSports events, as well as YouTube and Twitch influencers who play or talk about games. magnitude of time spent watching video games is a staggering 84.7 billion hours a year. According to a 2017 report from SUPERDATA, approximately 670 million people watch video game content rather than primetime television. staggering amount of attention consumers pay to video content creators presents a potentially lucrative and untapped opportunity for WAX.
One source of income for content creators comes from selling products. integration of streaming content and merchandise continues to grow, while digital items seem to sell very quickly and generate significant engagement. We have found with our partnerships that using WAX for digital items, as well as vIRL, excites viewers because they can instantly exchange them. Streamers using vIRL on WAX are able to sell much more merchandise faster, attract and attract more viewers, and ultimately make money on higher margins than with traditional e-commerce.
Secondary markets generate income that did not exist before. When an audience member re-sells an item to someone else, the content creator or lead seller can earn another transaction fee from the seller. Never before have merchandise sellers been able to earn a share of the money when their products are resold later because they never had the opportunity to participate directly in secondary markets.
WAX offers game publishers a way to monetize their customers who generally do not buy or spend money on their games. While non-paying players in free games spend a tremendous amount of time in the game, publishers can start offering vIRL through WAX. As in the case of Supreme, there are limited quantities of merchandise available to a select group of customers. For example, imagine a Fortnite gamer having the opportunity to purchase a limited edition Fortnite keyboard, mousepad, mobile phone case, sneakers, and hoodie after spending hours playing the game.
Brand affinity is high for gamers who then search for products that reflect their interest. Unlike an ad, this is a direct, integrated shopping experience that can be linked to in-game activity, promotions, or interact with streamers creating game-related content. We believe this caral, when tested through well-executed testing, will spread throughout the gaming industry to capture revenue from “non-productive” customers who don’t spend money on their games. Currently, there are several game publishers that are working to implement testing with WAX and vIRL within their games.
WAX: Dawn of Blockchain Gaming
NFTs in blockchain games are not yet a vast ecosystem in terms of trading volume. However, there is significant interest and investment to create the next blockchain-powered video game hit.
We remain excited about new classes of games from talented independent game publishers who have client-owned assets and are encouraging trade and creating scarcity in their articles. se game publishers include, but are not limited to, Animoca Brands, Pixowl, Mythical Games, and Neon District. We estimate that we are probably in a year or month
You are far from seeing a huge success that blockchain adopts.
After it happens, the biggest, oldest and most established game publishers will be looking to adopt it in their own way. In the meantime, we are working with smaller publishers with very dedicated audiences. benefit of these audiences is that they are very loyal and customer acquisition is easier because they are tightly knit through channels of influence.
Solution: WAX’s value proposition
WAX platform solves a problem for companies and entrepreneurs who want to make money and participate in the rapidly growing global market for digital goods. global market for digital products continues to expand as people’s time and attention continue to be directed towards forms of online entertainment, such as video games, social media, movies, music, and digital books. In addition, more than 3 billion people are expected to connect to the Internet in the next five years.
What is the WASP Strategy?
On the WAX platform, the WASP Strategy captures the power that a dApp can quickly access and develop to reach existing WAX customers while creating new ones. WAX platform consists of:
- CERA Blockchain +
- Decentralized marketplace (similar to Amazon) +
- Decentralized virtual item trading and generation (similar to Steam) +
- Decentralized wallets (similar to PayPal)
WAX Blockchain provides a token-based economy that operates on the resources provided by the consumers of those resources. In this way, the ecosystem pays for itself, and the participants guide its development and benefit directly from its growth.
WAX microservice layer offers all the functionality that a well-designed market needs to grow and scale without massive investment in infrastructure.
We describe the entire WAX platform, that is, the blockchain functions of the WAX protocol and the microservice layer in the next section.
How the WAX platform works
With the combination of the WAX protocol blockchain and the microservices layer, the WAX platform offers customers a complete set of blockchain-based tools. WAX Platform is safe and convenient to create, buy, sell and trade virtual items with anyone, anywhere.
WAX protocol blockchain
- Consensus caral WAX uses a delegated proof of stake (DPoS) consensus algorithm that relies on a group of WAX Guilds (also known as block producers) to manage block production.
- WAX Token caral WAX Token caral is designed to drive various activities to grow the WAX ecosystem: betting, rewards, and voting.
- Staking WAX Rewards WAX Staking Rewards is the voting and rewards system that we designed to increase community participation in guild selection and blockchain improvement proposals. This is what token holders can do with their WAX tokens:
WAX stake tokens. If token holders have un-wagered WAX tokens, they must stake them using Lynx, Sqrl, Scatter, or another compatible wallet. Genesis WAX protocol tokens are automatically stacked.
Vote through a compatible wallet. If token holders have Genesis WAX protocol tokens on a WAX Blockchain account, they must connect their compatible wallet to the account to vote. All WAX Token holders can vote for up to 30 WAX Guilds. strength of your vote for any particular guild depends on the number of CERA Tokens that you stake.
Win WAX gambling prizes. WAX Token holders who stake their tokens and then vote with them earn additional WAX Tokens. se earnings are called WAX Staking Rewards and are issued directly from the WAX Blockchain.
DApp developers also benefit from staking their WAX tokens because it helps to reserve system resources (CPU and network). RAM allocation can be bought and sold to meet the needs of the developer. participation mechanism and the combination of WAX participation rewards make transactions possible at no charge. We do not charge dApp developers to run the infrastructure that enables transaction processing due to Guild Rewards. So by betting tokens, the dApp developers claim the necessary RAM allocation. It also prevents network spam from blocking legitimate transactions because they all have a limited rate and are based on your allocation.
What functions can I perform by stacking my WAX?
WAX stake tokens allow token holders to vote on the WAX blockchain and earn WAX stake prizes for doing so. Token holders must vote weekly to maintain the highest voting strength and get the maximum rewards (you will find more details about the voting strength in the next section). re are three types of voting in WAX:
Guild Voting – Bet a fixed number of WAX tokens to vote for guilds. For example, if you bet 1,000 WAX tokens, token holders can assign 1,000 votes each for up to 30 different guild candidates.
Proxy Voting – Appoint a proxy, who then votes on behalf of the token holders using their WAX with stake, earning them the WAX Staking rewards. If a proxy does not vote, it does not affect the voting strength of the token holder. However, they must keep their proxy vote up-to-date to keep the full voting force similar to the guild vote.
Worker Proposal Voting (after mainnet launch) – Bet WAX tokens to vote on proposals submitted by other WAX token holders.
How can I win WAX gambling prizes by staking my WAX tokens?
Token holders can earn more WAX Tokens every day with WAX Staking Rewards just by voting. Each day, a set amount of WAX Tokens is reserved for Staking WAX Rewards. amount of tokens that each WAX Token holder receives daily depends on the weight of their participation, relative to other participants. For example, if a token holder’s share weight equals 0.5% of the total share weight on a given day, they will receive 0.5% of the WAX share rewards amount. voter’s current bet weight determines the amount of WAX gambling rewards they are awarded.
weight of voter participation determines the amount of WAX participation rewards they are awarded
stake weight is the number of WAX Tokens currently wagered multiplied by the strength of the votes.
strength of the vote is a number between 0 and 1, for example 0.08 or 0.25, with 1 being the full strength. If a token holder votes weekly, then he maintains the highest possible voting strength. If they do not vote weekly, the strength of their votes declines. bet weight starts at 0 and stays at 0 until they vote, at which point it increases to 1.
For example, if the holder of a token votes in a certain week, his voting strength is then 1. If he does not vote again, his voting strength declines to zero. y can increase it back to 1 just by voting.
refore, voting maximizes WAX Staking Rewards. Additionally, token holders contribute to guild selection and quality proposals, supporting the overall health of the WAX Blockchain. We plan to introduce additional types of WAX Staking Rewards in the future.
Wax Guilds and Wax Guild Rewards
WAX Blockchain has 21 WAX Guilds that earn rewards for producing blocks. se WAX Guild rewards are awarded based on the number of blocks produced by each WAX Guild. Reserve Guilds, or Reserve Guilds, operate as “Backup Operators” who earn a portion of WAX Guild Rewards for participating and demonstrating their ability to process a lockout when randomly requested.
WAX Core performance metrics
WAX produces a block accurately every 0.5 seconds, and a WAX Guild is authorized to produce one block at a time. If a block does not occur at the scheduled time, the block for that time interval is skipped. Transactions remain in the memory pool waiting for the next guild to include them. Similar blockchains have achieved 3,000 transactions per second, which is almost double the average number of transactions per second that Visa processed. WAX is capable of the same speed and as such WAX is one of the fastest and potentially highest performing blockchains on the market.
Delegated proof of stake (DPoS)
WAX uses the decentralized DPoS consensus algorithm to optimize the performance of applications on the blockchain. DPoS also optimizes the nominal 100% share condition of honest nodes with robust network connections. Incentives for WAX guilds help keep them honest, resulting in network reliability. Otherwise, the WAX Guild runs the risk of losing its position in the network and losing the rewards of the WAX Guild.
DPoS is safe from corruption by a significant minority of producers. Token holders can select WAX Guilds through a continuous approval voting system. To get a chance to produce blocks, token holders can persuade other token holders to vote for them.
Every 0.5 seconds, blocks are produced on the WAX Blockchain, and a WAX Guild is authorized to produce a block at any time. If a block does not occur at the scheduled time, the block for that time interval is skipped. When one or more blocks are skipped, there is a gap of 0.5 seconds or more in the blockchain. To decentivize block skipping, WAX Guilds do not receive their WAX Guild Rewards if they produce 50% or less of their scheduled blocks.
Byzantine fault tolerance
Byzantine Fault Tolerance (BFT) is achieved by a rule that strongly discourages WAX guilds from signing two blocks at the same block height or timestamp. Since a central authority does not control the blockchains, the absence of BFT poses the risk of a peer broadcasting and posting fake transactions, nullifying the reliability of the blockchain. Simply put, BFTs protect against catastrophic failure and mitigate the influence of these malicious nodes.
Any WAX Guild that signs two blocks at the same block height or timestamp will likely be rejected by WAX Token holders. Fifteen guilds that sign a blockade make a blockade permanent and immutable.
Guilds, Block Producers, Participation and Voting: Improved Governance Features
WAX blockchain has 21 WAX guilds at any given time, and a guild is selected to produce a block at a scheduled time. 21 guilds of WAX are chosen to produce blocks in rounds of 126, based on six blocks for each of the 21 guilds of WAX. WAX Token Holders Vote for WAX
Guilds to determine which qualified guilds become part of the top 21. Those who vote for WAX Guilds who lose blocks are incentivized to vote for these producers as lost blocks result in a lost monetary opportunity for their voting constituencies.
Guilds on hold
Reserve guilds are critical to ensuring a strong network with maximum block production capacity. WAX allocates 1% of all blocks to be produced by reserve guilds. se blocks are pseudo-randomly assigned to reserve guilds. Unlike EOS, where anyone can represent themselves as a standby block producer, WAX takes a different approach. In the WAX ecosystem, reserve guilds are forced to maintain a 24/7 uptime as they cannot predict when they will be assigned to produce a block. It also allows voting on waiting guild members.
We also recognized that EOS does not have a mechanism to determine if all producers qualify to produce blocks. For example, if a lower quality reserve producer is voted on, this producer may not be able to produce their allocated blocks, resulting in a lower yield. This standby producer would be paid a portion of the block reward. EOS block producers and reserve producers share an inflation of 0.75% based on the number of votes they receive. It is likely to incentivize lower-quality producers to promote themselves as producers without having sufficient block production capacities.
To address this, WAX Blockchain uses three mechanisms:
Wax guilds must demonstrate their ability to produce blocks to be included in the pool of 57 qualified guilds (21 WAX guilds + 36 standby guilds).
As with WAX guilds, WAX reserve guilds are penalized if they cannot produce at least 50% of the blocks assigned to them.
Because wagering incentives are tied to guild performance, WAX token holders are financially encouraged to cast their votes at the highest performing WAX guilds.
WAX Staking Awards as a solution to voter apathy
Voter apathy is a concern for DPoS blockchains because other DPoS blockchains have been negatively affected by the lack of voting. Low systemic voting rates in a chain prevent decentralization from being achieved, for which the chain was designed. We developed WAX Staking Rewards to drive community interest in the voting process. WAX Token holders who stake their WAX Tokens and vote for WAX Guilds receive these wagering rewards. se rewards are maximized when you vote regularly and for the top performing guilds.
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Staking WAX rewards
WAX Token holders who stake their tokens and then vote with them earn additional WAX Tokens, called WAX Staking Rewards. se rewards are issued directly from the WAX Blockchain.
se rewards are beneficial to dApp developers because they help reserve your system resources (CPU and network). RAM allocation can be bought and sold to meet the needs of the dApp developer. participation mechanism and the combination of WAX participation rewards make transactions possible at no charge. We do not charge dApp developers to run the infrastructure that enables transaction processing due to WAX Guild Rewards. By betting tokens, the dApp developers claim their necessary allocation. Staking also prevents network spam from blocking legitimate transactions because they all have a limited rate based on what they are allotted for.
Stake rewards are performance based / underperformance penalties To encourage WAX Token holders to vote for the highest quality WAX Guilds to produce blocks, WAX Staking Rewards are performance linked from the WAX Guilds. If a WAX guild that a WAX token holder voted for underperforms, their WAX Staking rewards decrease:
WAX Staking rewards decreased
WAX Staking rewards are scaled based on the performance of WAX Guilds voters by:
WAX Staking rewards are scaled based on the performance of the voters that WAX Guilds voters vote for.
function to determine a voter’s WAX Staking Rewards ratio:
function is to determine a voter’s WAX wager prize ratio
refore, if the token holder votes for WAX Guilds that only produce 90% of the blocks scheduled for them, the voter’s WAX Staking rewards are 90% of the minimum possible amount. If the voter votes for WAX Guilds that produce 50% or less of the blocks scheduled for them, the voter does not receive WAX Staking Rewards in exchange for voting for them. Also, these guilds that produce 50% or less of their scheduled blocks do not receive their WAX guild rewards.
formula also applies to reserve guilds. That means that the vote cast by a waiting guild receives the same potential reward as the vote cast by a guild that has become a top 21 (that is, a WAX guild). Makes the voter agnostic as to whether or not a guild the voter votes for is likely to be one of the 21 WAX Guilds. We want WAX Token holders to cast their vote for the guild they believe best represents them, without being penalized.
A voter can delegate a vote to anyone who votes for underperforming WAX guilds. n,
WAX Staking rewards for those who vote for underperforming WAX Guilds are reduced because their rewards are calculated based on the WAX Guilds that end up being selected. A proxy cannot update the weight of a voter’s vote when voting on behalf of the voter. Instead, the voter must update their vote to the proxy of their choice to regain full vote weighting capacity and full WAX Staking Rewards capacity.
Genesis Block Member Rewards
As part of the WAX Token Swap, we created the Genesis Block Member (GBM) program. Broad community participation is essential for a properly functioning proof-of-stake delegated blockchain. GBM program is designed to foster civic engagement and reward our long-term oriented WAX community members who participate in the healthy development of the WAX blockchain.
To incentivize token holders to keep their tokens invested with WAX, we have developed the Genesis Block Member Reward Program. GBM participants receive daily token rewards for 3 years (July 1, 2019 – July 1, 2022). WAX tokens earned from the WAX token exchange, WAX Guild Rewards, and WAX Staking prizes are all eligible for GBM tokens.
Genesis WAX protocol tokens continue to produce GBM rewards of WAX protocol tokens every day as long as they remain staked.
By leaving Genesis WAX protocol tokens wagered uninterrupted for 3 years, WAX token holders double their WAX protocol tokens. If a WAX token holder stops wagering their WAX tokens before three years have elapsed, the rewards are prorated.
If a Genesis WAX Protocol Token is not staked, it stops producing WAX Protocol Token GBM rewards permanently. When this happens, it cannot be undone.
holder of a WAX token can withdraw all or part of his tokens from the Genesis WAX protocol at any time. Non-wagered tokens are converted to WAX protocol tokens and permanently stop producing GBM daily rewards.
GBM rewards are burned rather than earned, creating a deflationary effect on the supply of tokens as noted below.
Deflation / Inflation
Due to the GBM program described above, there is a 50% deflation potential of the WAX Token Swap, as detailed in the table below:
Token Description Initial Token Supply Number of ERC-20 WAX Tokens 1.85 billion System resources 20,000,000 Pre-minted GBM Tokens for WAX Token Swap 1.85 billion Max. total supply (excluding inflation) 3.72 billion Min. total supply (excluding inflation) 1.87 billion Total potential deflation% 50%
Note: Future unearned GBM rewards from WAX token holders who will not gamble are burned, proportionally, when WAX token holders draw their GBM tokens.
At the same time, there is a Token Rewards inflation caral, as detailed in the following table:
For e-commerce to work, transactions must be free to avoid bottlenecks that would otherwise occur due to fee margins during times of token price inflation and increased volume. However, with free transactions, spam becomes a problem. To avoid spam on WAX Blockchain, the senders of the transactions must stake the necessary system resources to process the transaction. system resources to bet are NET (network), CPU and RAM. By betting WAX for CPU and NET (bandwidth), a user gets a proportional share of the overall blockchain resources, ensuring that transactions are processed at the corresponding speed.
In a recent update, the use of system resources to process a transaction has been moved from the sender to another party, for example, a dApp maintainer. Doing this makes it easier to add users to the system because users do not need to understand resource staking. Depending on the transaction, a customer may require ownership of a certain amount of RAM. In this case, the client can buy more RAM in a market powered by WAX Blockchain that exchanges WAX for RAM according to the Bancor algorithm.
Provide profitability in terms of elimination of fees
WAX offers a free and flexible platform for sending transactions where clients do not pay for transactions. idea behind this more user friendly policy is to create a higher adoption rate. It is also possible for organizations, businesses, and developers to create a wide range of monetization strategies.
Smart contracts + RNG
Business contracts are intended to secure an agreement between the parties for a specific service or to meet a set of standard requirements. Contracts are a set of conditions or rules that both parties must meet. As long as these requirements are met, execution is possible.
WAX smart contracts are similar in that they provide a structure for obligations between all participants to process financial transactions on the WAX Blockchain. WAX smart contracts are executed when the conditions or rules are met, but the records of the legal transfer and activity are stored on the WAX Blockchain with transparency.
WAX smart contracts reside in a WAX account and have a human-readable 12-character label chosen by the account creator. Within the WAX ecosystem, any account can send shares to other accounts where the transaction is handled by the smart contract code that resides on the target account. Multiple accounts can receive multiple shares for a single transaction.
WAX smart contracts define:
- required actions
- information structure
- interface code
WAX Random Number Generator (RNG) Smart Contract
In generic terms, a Random Number Generator (RNG) is an algorithm that generates random values. In blockchain terms, dApp developers use RNG to introduce a random result, such as generating a digital collectible or NFT. Currently, the integration of random values in smart contracts has process flaws, which create potential vectors for unfair or non-random values, reducing customer confidence in using dApps.
top three issues developers experience when trying to generate and ingest random values in their dApps include:
Blockchain native RNG services do not exist, so dApp developers must create their own. This reduces the time that dApps developers can spend on other areas of their dApps, such as designs and features that would improve the customer experience.
It is not uncommon for most dApp developers to be non-RNG experts, so there are design weaknesses with most dApp-specific RNG services.
Sometimes dApp customers have difficulty determining whether or not a dApp’s RNG service is generating a random result, lowering customer trust.
How the WAX RNG Native Blockchain Service Solves Major Problems open source WAX RNG Native Blockchain Service allows dApp developers to easily integrate the service into their dApps. We chose the Signidice algorithm and RSA verification for this service because:
Signidice algorithm: excellent randomization, non-playable features, cleaner workflow for dApp developers, and provably fair.
RSA verification – Ensures signature uniqueness and eliminates the ability to manipulate results. Note that using other types of signature algorithms can allow many valid signatures for the same signature value, which could result in tampering.
self-verification WAX RNG native blockchain service confirms that the RSA signature coming from the WAX RNG oracle is valid and authentic before being used by the dApp. When dApp customers can quickly establish fairness, they have a higher degree of confidence in using dApp.
NFT Standards / NFT Integration with WAX ExpressTrade
WAX supports non-fungible tokens that use the open source Simple Assets standard. WAX ExpressTrade leverages WAX Blockchain through a microservice called WAX-On to generate, mint, and store the NFTs it manages.
With this, we have the WAX-On microservice:
- All users see their transactions on the chain.
- Clients can prove to themselves that they have been chosen fairly to make random selections.
- DApp developers have access to a large user base of OPSkins clients.
- service leverages the open source NFT implementation of Simple Assets.
- Full integration with other NFT standards like dGoods on EOS, Ethereum, and Tron is part of the roadmap. Interoperability maximizes liquidity for buyers and sellers and is the essential value proposition of the WAX Protocol.
Worker proposal system
WAX Worker Proposal System (WWPS) is a proposed program that is designed to incentivize and compensate community developers who rely on the WAX Blockchain. WWPS would allocate WAX Tokens (denominated in WAX Tokens and paid for in WAX Tokens) to distribute to developers working on community needs, patches and updates. In return for their time and effort to contribute to the development of WAX, these developers would be eligible to receive WAX Tokens from WWPS.
An annual WAX inflation of one percent (1%) would fund WWPS and be ineligible for GBM Rewards, to encourage active distribution of funds to developers.
Why do we need the WWPS?
WAX has several improvements to be made and some desired features are still missing. In the decentralized nature of blockchains, there are not enough incentives for community developers to spend their time contributing the patches and updates necessary for efficient and scalable breakthroughs.
To ensure WAX stays current with the changing needs of the community, we will soon introduce a Job Proposal System (WPS). planned WPS will allow an allocation of funds to set aside to incentivize developers to work on community needs, such as critical patches or prospective updates. idea behind WPS is to leverage the strengths of a decentralized community in the future, reducing dependence on a single source for new additions. WPS would also allow the community to nurture and grow the tool.
Proposed WWPS Categories
- Monitoring – Supports the underlying code base of the blockchain, including security audits, distributed denial of service (DDoS) protection, bug patching, and mainnet repository maintenance.
- Infrastructure: Supports the underlying code base of the blockchain, including security audits, distributed denial of service (DDoS) protection, bug patching, and mainnet repository maintenance.
- Community: Supports the resources and spaces that bring people together, such as meetings, educational content and platforms, public relations, lawyers, advocates, and lobbyists.
- Development: Supports developers and ideas, such as dApps and applications that may be necessary for underserved minorities.
- Miscellaneous – Supports loot, burn, and projects that may not fit into other categories.
A percentage of WWPS funds would be allocated to each category, ensuring that no category has an oversized impact on WPS. However, the fund would require oversight to rule out illegitimate proposals and possible abuses.
.NET, CPU and RAM Resources on WAX Blockchain
Since the WAX Blockchain mainnet and protocol token was launched, we have been excited to see the level of participation in betting and voting among WAX token holders who have exchanged their tokens. As we mentioned, betting and voting is crucial for DPoS blockchains like WAX because the more involved the community is, the better the blockchain works for everyone. Now we would like to explain what is NET (network), CPU and RAM that the community is betting on.
In the WAX ecosystem, dApps consume the following resources:
- NET – WAX network throughput capacity, measured in bytes
- CPU: processing time of an action, measured in microseconds
- RAM: stores dApps data on the blockchain
In this ecosystem, the bandwidth, which consists of NET and CPU, is flexible. That means WAX Token holders may have more bandwidth allocated than the ratio they have wagered against the total stake pool. minimum resource allocation is the fraction: ‘your share’ divided by ‘total share’. bandwidth is consumed at the height of the block in which a transaction is included and then regenerated for future use.
Since RAM is limited and necessary to maintain the state of a dApp, which must persist over time, RAM must be allocated. refore, RAM is not based on stakeout; rather, it is bought and sold. Note that unallocated RAM can be sold at any time to the blockchain native RAM market, or allocated for use at any future time.
You can find more information about NET, CPU and RAM on WAX Blockchain here: https://wax.io/blog/what-is-net-cpu-and-ram-on-the-wax-blockchain
WAX Service Layer is a complete set of blockchain-based tools and services that allow the community to build projects on WAX. From dApps developers to marketplace owners, video game creators,
following microservices are available:
- WAX All Access: A single sign-on (SSO) and OAuth service.
- WAX Account (WAX Wallet coming soon) – Similar to a wallet, except that it does not store private keys and provides more utility than a standard wallet. WAX Wallet, the next version of WAX Account, is coming soon and will offer more features. Details to follow.
- WAX NFT Creator – A self-service tool that allows anyone to create an NFT on WAX Blockchain for free.
- WAX ExpressTrade: A free and instant peer-to-peer trading service.
- WAX Explorer – Unlike any block explorer, it features an easy-to-use layout, a visual representation of each item marketed, and multiple 3D viewing and interactive features.
- WAX Marketplace: Create a WAX Marketplace with our APIs.
Read also Impermax Finance (IMX) Token What is it and how to buy?
WAX All Access
WAX All Access simplifies the login process by allowing access to any WAX-powered site by logging in with Facebook, Google, Wechat, Steam, or a WAX All Access username and password. SSO and OAuth services allow account holders to link these other accounts to their WAX Blockchain account for easier access to their WAX account. To create an account, visit all-access.wax.io.
Only specific permissions are received from these third parties and they do not involve WAX Blockchain account information.
WAX account (WAX Wallet soon)
A WAX account is similar to a wallet, except that it does not store private keys. WAX account provides more utility than a standard wallet because it can view many types of non-fungible assets, as well as integrate with features such as voting and participation.
WAX account will soon be WAX Wallet. More features about WAX Wallet will be available soon.
WAX account token holders can perform the following activities directly from their WAX account.
Exchange ERC-20 WAX tokens for Genesis WAX protocol tokens
Bet any WAX protocol token acquired or earned through Staking Rewards and Genesis Block Member Rewards using the Scatter wallet
Voting with WAX protocol tokens
Claim Staking Rewards and Genesis Block Member Rewards
Track WAX token balances and wagering rewards
WAX accounts can be done at accounts.wax.io.
WAX accounts are free for customers. An existing WAX Blockchain account must generate WAX accounts. Each WAX account requires 3 KB of RAM and a minimum amount of WAX (~ 1 WAX) to provide bandwidth for CPU and NET system resources, the WAX cost of which covers the cost of most accounts.
By requiring 2FA and account scoring, WAX prevents account creation spam.
WAX NFT Creator
WAX Creator is a self-service tool that allows anyone to create NFTs like trading cards, stickers, and digital art on WAX Blockchain in just minutes and for free. It requires zero technical knowledge on the part of the creator. Hundreds of thousands of NFTs have been created on WAX Blockchain using WAX Creator since its launch in June 2019.
NFTs are minted on the WAX Blockchain and submitted to the creator’s WAX ExpressTrade Inventory. owners of these NFTs can sell, give away, trade or collect them. y can also be used to create dApps, such as a card game played with custom WAX trading cards.
NFTs can have generic attributes, unique attributes including random integers, descriptions, and more.
WAX ExpressTrade enhances the experience of a rapidly growing global community of buyers, sellers and collectors of digital goods. This free and instant peer-to-peer service enables digital goods merchants to buy, sell and trade digital goods on the WAX Blockchain.
WAX ExpressTrade API offers independent markets a pipeline into the multi-billion dollar digital goods trading industry. Markets of any size and in any geography can use WAX ExpressTrade to create a thriving market for their digital items, such as video game skins and other marketable items, or physical items such as electronics or sneakers. WAX ExpressTrade provides markets with a way to give their clients access to the global market for trading WAX items; and not just the limited inventory available in your market. Buyers can more easily find those coveted rare items, and sellers can match the right customers faster.
WAX Explorer is unlike any that the blockchain world has seen before.
Most block explorers were originally designed for basic style fungible tokens like Bitcoin and Litecoin. y exist simply to provide relevant information about the tokens being exchanged. For generic tokens like BTC and LTC, the information anyone is interested in tracking is pretty limited to just metadata: what block the transaction is in, the milliseconds it took, the address it was sent to, etc.
But WAX is a different type of blockchain, and the products that are traded on it are very different from what you see on other block explorers. As we ushered in the new era of mass adoption of consumer-friendly blockchain technology, we saw that it was necessary to invent a new type of block explorer that was different.
rent from everything else out there. If the types of items that are traded on the WAX Blockchain beta are different from those that are traded on other blockchains, then it stands to reason that WAX Explorer is different as well.
Like other block explorers for other chains, WAX Explorer shows details of all transactions taking place on the WAX Blockchain beta and other important data. But that’s where the similarities to other block explorers end. We’ve completely reimagined what a block explorer should look and look like with WAX Explorer.
difference between viewing Ethereum trading on Etherscan and VGO skins in the WAX Explorer is that ETH transactions are just one character string, while non-fungible (NFT) tokens like VGO and CryptoKitties are completely unique from each other. . y are unique collectibles and therefore e-commerce products, not earned value products like other tokens. For this reason, a block explorer showing transactions for these NFTs must include trade data relevant to someone searching and trading them. That is what we build with WAX Explorer.
appearance of items traded on WAX is extremely important to their merchants. WAX stickers and WAX digital art are custom designed by their creators. Features like the wear value of a VGO skin can significantly affect the price. So why hide these images behind an ugly stream of letters and numbers, when customers want to see the items they are trading?
Designing the WAX Explorer in the same way that block explorers were designed for commodity-style token trading would be as if Amazon only had SKU numbers and weight information for its products instead of photos and videos showing to buyers how the product looks.
In addition to displaying the images of all items traded on WAX, we also include a 360-degree rotating animation for WAX stickers and VGO items, and the WAX 3D Item Viewer service that allows anyone to click and drag the item to view it on any moment. angle (not all unsurts in VGO have the 3D unsurt viewer service enabled now, but all will eventually have it).
WAX Explorer also displays relevant information outside of the traditional block explorer data, such as the description and creator of WAX Stickers or WAX Digital Art, or which vCase the article came from, because that’s important to consumers of these articles. y buy products, not commodities. .
Our overall goal was to make WAX Explorer as user-friendly as possible. If the goals of the blockchain community are mass adoption of blockchain technology among consumers in general, then block explorers, and blockchain-based products in general, should not be designed so that only people with blockchain knowledge they can easily use and understand. People should be able to use a blockchain-based service like WAX Explorer without realizing that they are interacting with the blockchain. Consumers shouldn’t have to actively think about using the blockchain when looking up an item’s sales history in the same way that they don’t have to actively think about using the internet when asking Google Home to turn up Pandora’s volume. NFT traders should be able to easily see the items they are trading or interested in trading, see the price of the items in USD instead of calculating crypto, and use all the visual features in the block explorer that exist on other sites.
WAX Wax Marketplace supports a growing ecosystem of markets. With WAX Marketplace, third parties can list, buy and settle the transaction through a smart contract. Anyone can operate a fully functioning virtual marketplace with transaction verification and blockchain trust.
WAX technical documentation
In the WAX technical documentation on GitHub, developers can find information about the WAX Blockchain, WAX System Contracts, WAX RNG, and the WAX Contract Development Toolkit. Soon, developer-specific technical documentation will be available, called WAX Developer Hive, that developers can use to build projects using the WAX suite of microservices. se tools include services to support e-commerce operations, such as:
- Interactive block explorer
- SSO and OAuth
- Article creation
- RNG service
- Interactive item viewers
- Marketplace creation
- WAX project showcase
During the last 12 months, hundreds of sites have created dApps that integrate WAX microservices. Your feedback has been immensely helpful in helping to refine the microservices platform. Here in this section we cover a select group of dApps and other projects that use the WAX platform in whole or in part.
WAX (WAXP) Token Markets.
- OPSkins OPSkins is one of the largest and most successful digital goods trading marketplaces in the world and is powered by WAX. OPSkins is used by millions of customers, totaling hundreds of millions of transactions since 2015. OPSkins includes WAX All Access, WAX ExpressTrade, WAX Seller Central, and more.
- WAXPeer WAXPeer is a peer-to-peer CS: GO skin marketplace.
- WAXTrades Clients use this marketplace to buy, sell and trade VGO or vIRL items with many different payment methods.
- dCart dCart is a decentralized e-commerce platform for trading digital assets, based on Blockchain technology.
- ByNoGame ByNoGame is a market that serves Turkey and the Middle East. y implemented WAX ExpressTrade in 2018 and have continued to expand their use of WAX and VGO keys.
Wax (WAXP) Token Collectibles
- VIRL Making a digital twin of a physical item and tokenizing it is a novel idea. Like the Tether stablecoin, imagine a token backed by a real-world object, such as a pair of high-end collectible sneakers. vIRL demonstrated with the launch of its dApp in November 2018, with immediate commercial success. Tens of millions of vIRLs have been created, all traded on the WAX Blockchain.
- VGO VGO are blockchain-based items, designed to collect and exchange. unsurts of VGO are designed to mimic the commercial experience of popular games, but without onerous commercial restrictions.
- Fnatic WAX and Fnatic, one of the world’s leading global eSports brands, partnered to gift authentic digital collectibles and branded physical merchandise to global eSports fans in real time. Fans can sell, trade, store and gift limited edition items on their WAX ExpressTrade account, instantly and for free. That means that, for the first time, esports fans can purchase physical branded products from a team and their players, and then trade those items with anyone else in the world without having to take physical possession of them.
- Augmented Reality RTFKT, the world’s first augmented reality (AR) e-commerce inspired by two of the most popular consumer trends: streetwear and video games. Combining the obsession for collecting sneakers with designs and attributes inspired by the drops of skin in video games.
At E3 2019, WAX demonstrated augmented reality e-commerce with custom shoe brand RTFKT on Snapchat with members of the FaZe Clan team. demo showed how virtual items purchased on AR could be linked to physical items on WAX Blockchain to redeem for the physical version with just a few clicks. See a demo here:
- Terra Virtua Owners of the millions of VGO skins operating on the WAX Blockchain can interact with their digital items in augmented reality Terra Virtua, the immersive AR / VR platform for collectibles and a WAX partner, has launched its AR application for Android devices with integration WAX. See a demo of VGO skins in AR here:
App users can download the Terra Virtua app from the Google Play store and then log in with WAX. Terra Virtua will read your WAX ExpressTrade inventory and allow users to select which VGO skins to interact with. iOS app is coming soon, in addition to the Terra Virtua virtual reality app and vIRL integration.
Fan Controlled Soccer League (FCFL)
FCFL is the first league that allows fans to make the decisions, like Madden in real life. Fans can watch all of the FCFL games streamed live on Twitch. FCFL is the first professional sports league built on the Twitch platform.
partnership between WAX and FCFL pushes the boundaries of what is possible with merchandise through the virtualization of every piece of FCFL merchandise. Shoppers receive their FCFL merchandise virtually in the form of vIRL, the dApp that virtualizes physical items. y can also exchange the vIRL for the physical version whenever they want and send it to their address.
WAX and FCFL celebrated the addition of Mike Tyson to the league by gifting mementos autographed by the legendary boxer.
Z1BR Z1 Battle Royale (Z1BR) recently released limited edition skins on WAX to commemorate the historic relaunch of H1Z1, the Battle Royale favorite that paved the way for titles like Fortnite and PUBG.
hit mobile game Godfather Family Dynasty gave away tens of thousands of in-game coins to WAX. As with other items in the game, Godfather Gold can be traded on the WAX ExpressTrade for anything traded on the WAX Blockchain, instantly and for free. It can also be sold on the OPSkins Marketplace or stored in the owner’s WAX inventory.
WAX and Animoca Brands partnership drives market adoption of blockchain-based digital collectibles on a well-established platform for global digital commerce. As part of the partnership, Pixowl, a game studio recently acquired by Animoca Brands, allows NFTs created on its platform to be bought, traded and sold on the WAX Marketplace. This provides additional visibility and liquidity to its creators.
Santeria is a “mini” fantasy MMO game in which players can explore different locations ranging from castles to wizard towers, fighting arenas and barns. This game integrates WAX ExpressTrade and allows players to enhance their gaming experience by purchasing NFTs in OPSkins and using them in the game. Players are automatically equipped with a magic hat and wand, and upgraded equipment in the form
re are over 100 additional sites using WAX ExpressTrade, WAX All Access, WAX Creator, and other microservices.
- Wax Developer Hive WAX Developer Hive will provide an overview of our technical services along with explanations, examples, and tutorials. WAX Developer Hive also offers other resources to facilitate deployment on the WAX platform.
- Office of the Inspector General Office of the Inspector General will provide ongoing community transparency in voting by evaluating the contribution of guild candidates to the WAX community.
- Ethereum Microservice Interoperability with other chains for NFT and other services requires microservices that can interact with the WAX platform. That allows WAX to work with Ethereum-based NFTs. In the future, we plan to integrate with other popular chains.
- WAX Public Testnet WAX plans to enable a public WAX testnet so that dApps can build their applications securely before launching onto the mainnet.
How to buy WAX (WAXP) Token?
To buy you have to go to the Kucoin Exchange and register. Kucoin Registration Link
Once registered we will have to buy Bitcoin to exchange it for WAXP Token and for this we have to go to “Buy Crypto” and select BTC, in our case we will buy with Euros and with a credit or debit card, but there are more ways.
Once we have bought the Bitcoin, we have to go to “markets” and we will look on the right side in the search box for “WASP” and then click on the “WAXP / BTC” pair.
Once we have given it, we put the amount of Waxp that we want to exchange for Bitcoin and that’s it and we will have it bought.