The WX token is a base Waves.Exchange token. Waves.Exchange users receive WX tokens as a reward for investing in liquidity pools, for participating in the IDO and the Early Bird program, or just can buy WX tokens on the exchange. Users can stake WX tokens to receive gWX - the Waves. Exchange governance tool. gWX holders will be able to vote for the future direction of Waves.Exchange developing in general, and for the liquidity pools changes in particular. gWX holders will decide which Waves tokens they consider safe, which tokens they would like to see in liquidity pools, they will be able to regulate WX token emission, and many other features will be available to vote for. In addition, gWX holders have increased passive income due to boosted APY from liquidity pools investments, trading fees reward.
Note: gWX amount gradually decreases starting from the moment you staked WX tokens. The decreasing of the gWX doesn’t affect the amount of WX that was staked. You can get all staked WX back once the staking period is over.
Let's take a closer look at the WX token distribution process. The Waves.Exchange team issued 1000,000,000 WX tokens, which are distributed among several smart contracts:
50% is allocated for distribution among liquidity providers who stake their LP tokens (⅓) and gWX holders (⅔);
20% has been sent to WX DAO smart contract (decentralized autonomous organization) for DeFi startups and NFT platforms built and maintained by the Waves.Exchange scheme;
15% is transferred to the Waves.Exchange team;
9.9% using to finance Waves.Exchange marketing activities;
5% has been sent to the IDO smart contact for distributing among the IDO participants who bought WX during the IDO (rounds);
0.1% transferred to the smart contract of early investors.
WX allocated and transferred to WX DAO, Marketing, Team, IDO and Early Bird smart contracts will be released in equal parts every minute (every block generated in the Waves network) throughout the year, while WX tokens placed on the Community smart contract will be released in equal parts every minute (every block generated in the Waves network) for 5 years. However, not all WX tokens for Community use from the total issued amount will be distributed to liquidity providers and gWX holders, the part of WX tokens will be burned. The WX token emission rate for the Community use is determined by gWX holders' decisions by voting. The maximum emission rate of WX tokens for community use is about 190 WX issuing per minute. You can find out the numbers for the current emission rate of WX tokens, as well as the information about WX token capitalization and its distribution details in the Stats tab.
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tags: liquidity pools wx gwx invest passive income reward voting