What Is Wax (WAXP)? Complete Guide & Review About Wax

What Is Wax (WAXP)?

Wax (WAXP) is a purpose-built blockchain, released in 2017, that is designed to make e-commerce transactions faster, simpler and safer for every party involved. The blockchain uses delegated proof-of-stake (DPoS) as its consensus mechanism. It is fully compatible with EOS.

The custom features and the incentive mechanisms developed by WAX are intended to optimize the blockchain’s utility specifically for use in e-commerce, with the goal of encouraging voting on proposals. To make this possible, WAX created a suite of blockchain-based tools which decentralized application (DApp) marketplaces and non-fungible tokens can be built upon.

Services such as WAX Coin Cloud Wallet, SSO and OAUTH support e-commerce operations, the latter being a native RNG service and a developer portal. The blockchain architecture supports 500-millisecond block time and zero-fee transactions for customers. It also makes use of voting rewards to incentivize participation in the selection of block producers and improvement proposals.

Important Points Table Of Wax

How to Buy the Continental & Trade On Exchange?

Who Are the Founders of WAX?

WAX was co-founded by William Quigley and Jonathan Yantis. William Quigley studied at the University of Southern California, and then worked at Disney. After leaving Disney in the early 1990s, he got an MBA at Harvard and became a venture capitalist. Over time, he became the managing director at Idealab. Alongside creating WAX, he is also the managing director at Magnetic. Jonathan Yantis works as the chief operating officer at WAX and as the chief operating officer at OPSkins.

What Makes WAX Unique?

WAX features a WAXP-to-Ethereum (ETH) bridge that allows WAXP token holders to convert their tokens into WAXE, which is an Ethereum-based ERC20 utility token.

Users willing to participate in tokenomics need to burn their WAXP tokens in order to get WAXE through the Ethereum bridge. They will then need to stake the WAXE tokens on the Ethereum distribution contract.

WAXG is an Ethereum-based ERC-20 governance token that is distributed to WAXE stakers. The distribution is based on a set timetable and is proportionate to the percentage of the Economic Activity pool. The token holders can govern the allocation and distribution of economic value on the platform as a result.

The Economic Activity pool is a smart contract that accumulates a percentage of generated fees and can be converted into ETH for distribution to stackers. It can also be given to WAXG token holders that decide to burn the tokens they already have.

Capitalize on Tokenomics & DeFi

The tokenomic model marries the explosive growth of NFTs with the superior monetization capabilities of DeFi. Participate and earn rewards in the form of ERC-20 WAXP and WAXG Governance Tokens.

WAX is a purpose-built NFT blockchain

WAX provides everything a brand needs to launch a successful NFT collection — from games and dApps to exchanges, digital marketplaces and more.

Launch your Game & NFTs

Join the famous brands that have launched successful Games & NFT collections on WAX, including Blockchain Brawlers, Funko, Topps, Capcom, and more. We’ll guide you through minting and releasing your collection on the blockchain

Play

Picture this: You’ve been playing your favorite battle royale game for a few years, and by this point have a treasure trove of skins and other cosmetics unlocked. Problem is, the game has lost its luster, and now that virtual wardrobe is essentially worthless

Build

Build or upgrade your dApps, games, marketplaces and more on WAX. The WAX Developer Hive offers full documentation, quickstarts, code samples and more. Most importantly, you can be sure you’re building on a secure, eco-friendly blockchain

No NFT is more important than the planet.

WAX is a carbon neutral blockchain that runs on a Proof of Stake system. Meaning, they don’t need supercomputers to wage an energy-sucking battle to complete a single transaction. It’s a lean, green NFT minting machine,

Clean & Carbon Free: 

This is certified carbon neutral by ClimateCare

Supports reforestation:

The Carbon offset vIRL^® NFTs literally plant trees.

More power, less energy:

222,000X less than closest competitor.

Shopping not shipping: 

vIRLs make CO₂ curbing meaningful and fun.

13 Million Collectors and Counting

The WAX Cloud Wallet is your secure gateway to premiere NFT collections, dApps, video games, marketplaces and more. It also makes buying, selling, trading and giving NFTs easier than ever.

Capitalize on WAX Tokenomics & DeFi

The tokenomic model marries the explosive growth of NFTs with the superior monetization capabilities of DeFi. Participate and earn rewards in the form of ERC-20 and WAXG Governance Tokens