Update: Non-custodial staking using the WandX Basket protocol

Today we finalized the architecture for a non-custodial staking solution, one that includes the WandX Basket Protocol and, in doing so, enables you to stake multiple Tokens with the use of token baskets.

The diagram below shows the broad architecture of this solution. Important things to note about this solution are as follows:

1. Initially, it would work only with ERC20 and NEP5 Tokens.
2. Next, it would work with EOS or Tron-based Tokens.
3. Then it would become blockchain agnostic, hence potentially supporting hundreds of staking Tokens.

Non-custodial staking solution for WandX

Problems addresses with this way of a solution

1. Token utility: With this user flow, you can stake any token that we’re building, irrespective of whether it is a staking token or not. You will be able to stake tokens through the exchange + staking as a single user flow.
2. Ease of use: This solution will be supported by a simple UX in order for users — new and seasoned — to be able to stake any token via the WandX Desktop app easily.
3. SDK: Having created an SDK will potentially allow custodians, funds, and wallets to integrate our staking + basket solution into their wallet or any Dapp/app.

Timelines

We are working on releasing the Beta version of our staking solution in July. Also, our DEXs go live in June along with the basket protocol across ETH, NEO, WAN, and AION blockchains.

Also, going forward, we’ll be making regular updates every other Friday. The commitment comes from a place of responsibility and we hope to maintain this discipline now onward.

For more details on this, feel free to reach out to our admins on t.me/wandxapp or write to marketing@wandx.co