… membership tiers, which after you have completed KYC, will grant you access to the loans platform. When we launch in December, members will be able to take out different loans by putting up blockchain collateral on the platform. We’ll be announcing more information in the coming weeks about the exact mechanics of this. In addition to your membership, you can use SALT to pay down the interest on your loans, receive better loan terms*, and we will also have a number of types of SALT branded merchandise which you can buy.
WAX’s blockchain technology is powered by its Delegated Proof of Stake (DPOS) consensus algorithm, which is the fastest, most efficient, most decentralized, and most flexible consensus model available. Unlike commonly-used Proof of Work (POW) systems, DPOS utilizes “elected” confirming nodes (called “Guilds,” of which there will be 64 initially) which are chosen by users who vote for proposed delegates, making WAX’s architecture particularly democratic and decentralized. The number of votes each particular Guild receives determines its rank, with each Guild being weighed by whichever particular game it supports.