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Understanding WAX Accounts

Different kinds of WAX accounts

Account structure

  • Owner: shows ownership of the account and is needed to make any changes to the ownership the account. This key(s) for this permission is/are best kept (safely) offline, as they are not needed to do most things on the WAX network.
  • Active: used for transferring funds, voting for producers, claiming rewards and making other high-level account changes.
Visualization of a default permissions structure. (Source: EOSIO Developer Portal)

Account resources

How resources in a WAX account (can) look

Account rewards

Staking rewards

Staking rewards (Source: WAX blog)
Calculating the stake weight (Source: WAX blog)

Genesis Block Member (GBM) rewards

  • The first way to get Genesis WAX tokens would have been during the token swap. If you held your own tokens during the token swap and have performed the token swap yourself (and have not unstaked these tokens yet), you have an amount of Genesis WAX tokens equal to the amount of tokens you swapped during the token swap. Performing the swap is no longer possible, though.
  • The second way to get Genesis WAX tokens is from staking rewards. As said above, the staking rewards are automatically staked 50/50 for CPU and NET after claiming them, and count as Genesis WAX tokens. This is the only way to get new Genesis WAX tokens at this moment.
Genesis WAX tokens compared to regular WAX tokens (Source: WAX blog)

Putting it all together

WAX accounts and permissions visualized

Useful resources

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EOS Amsterdam

Founding block producer for the EOS Mainnet. WAX Guild. Partner in Europechain. Investor in blockchain projects.