Definition of the Token
The Worldwide Asset eXchange™ (WAX) is designed to make e-commerce transactions faster, easier, and safer. WAX makes building and deploying high-performance, secure dApps easy. The hub for blockchain development tutorials, quickstart guides, API documentation, and more.
WAX was specifically designed to be the industry’s most comprehensive, environmentally friendly NFT ecosystem for top brands, artists, producers, and developers. Since its launch in 2017, WAX has earned the moniker “The King of NFTs,” but it is so much more than that; WAX vIRL® technology is essentially the wave of the future for online trade. The most prolific creators use WAX’s potent toolkit to develop video games and dApps, while Topps, Capcom, Atari, Funko, Lionsgate, and others depend on WAX to launch their NFT collections.
What is $WAX
An NFT blockchain and protocol token called WAX was specifically created to speed up, simplify, and secure online transactions for all parties. Delegated proof of stake (DPoS) is the consensus algorithm used by the WAX Blockchain, which is designed to work seamlessly with EOS. With the help of the unique features and incentive systems created by WAX, the blockchain’s usability for e-commerce is maximized, and voting for guilds and proposals is encouraged.
3.72 billion WAXP is the maximum permitted total supply of the WAX token. A user can earn a newly minted token by staking an amount via their digital wallet. Such staking gives the staker some voting rights, which helps them represent their views. Through such voting, the voters get incentivized through new WAX tokens.
How to use $WAX
Holders of tokens can increase their daily earning potential with WAX Staking Rewards by simply voting. A specific quantity of WAX Tokens are reserved each day for WAX Staking Rewards. Depending on their relative stake weight to other stakers, each WAX Token holder receives a certain number of tokens each day.
Take control of the games you play by playing NFT games. Earning NFTs is simple with dApps operating on the WAX blockchain. You won’t pay a ton in transaction costs because of the way our technology functions. The problem is that after a while you’ve accumulated too many skins and other cosmetic items.
The WAX Cloud Wallet account resource allocation mechanism was created to be based on account activities. With the help of this new model, it is possible to pool resources from accounts that are less active and use them to increase activity on active accounts. A user would not be needed to give resources to complete a transaction from their own WAXP resource stake in this new boost scheme.
Latest News about $WAX
Hip-Hop/R&B Genre Packs from Music Mogul Are Coming to WAX
The ultimate Web3 music play-and-own game, Music Mogul from WAX Studios lets you experience what it’s like to own your own music empire and become a renowned Star Maker.Hip-Hop/R&B Genre Artist Talent Packs will take the stage on August 4, 2022, at 10 am PST/1 pm EST.
Pack openings will come after at 1 pm PST/4 pm EST, allowing you to continue assembling the core team for your musical empire.
