WX.Network
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WX.Network

A contest for Waves.Exchange liquidity providers

Liquidity pools have been available on our exchange for almost a year. Over this period, more than 50 pools have been launched, in which users have invested over $30 mln. Currently, this investment product is considered the most popular, and some pools’ APY can exceed 130%. To remind you that Waves.Exchange is not just one of the most reliable and profitable exchanges, but also the most generous one, we are launching a new contest. No one will be left without profits.

180k WX tokens are in play! Based on the community’s suggestions, we’ll have the Grand Prix for the biggest investors and many smaller prizes for those who are just learning about the product and investing smaller amounts.

The contest will start at block height 3,244,100 and run for 2 months (86,400 blocks).

Grand Prix

The Grand Prix of 100k WX will be awarded to one of the bigger investors. To compete for it, you need to invest an equivalent of 10,000 USDN or more in any pool.

The investment has to be kept through the end of the contest. The final snapshot will be made at block height 3,330,500.
Only new investments will be considered.

Chances for winning depend on the amount and period. The investment amount is calculated as an average daily balance for 2 months. The bigger your investment and longer period, the higher your chances of winning.

Calculating the average balance

The average balance of XXXXXXLP token holders will be calculated starting from August 10 (block height 3,244,100). In 60 days, users’ minimum average balance for that period will be calculated. The minimum average balance is a sum of a user’s minimum daily balances for each of the contest’s days, from 00:00 UTC to 23:59 UTC, divided by the number of the contest’s days. The average balance formula is: (minDayBalance1 + minDayBalance2 + minDayBalance3 + …) / 60 (daysCount).

A major factor impacting your chances of winning is not just the size of your investment, but also the period. This is an example. Alice, Bob and Carl invested in the USDT/USDN pool and received 10,000 USDTUSDNLP each, but they made their investments at different times. Alice bought her USDTUSDNLP tokens on August 10, Bob on September 10, and Carl on October 1. Under the above average balance formula, in 60 days, Alice’s average balance will be 10,000 USDTUSDNLP, Bob’s 5,000 USDTUSDNLP, and Carl’s 1,666 USDTUSDNLP.

Thus, Alice, who entered the contest earlier than the other two, will have twice as high chances of winning the Grand Prix as Bob, and Carl’s chances will be minimal.

A final list of participants will be published on the blockchain, and the Grand Prix winner will be chosen by a randomizer. The Grand Prix of 100,000 WX will be sent to the wallet, from which the winning investment was made.

Important! Only new investments can take part in the contest. An investment cannot be withdrawn from a pool and then re-deposited. If an investment is transferred from one wallet into another, it’s excluded from the contest.

Mini-prizes

To have a chance of winning a mini-prize, you need to invest in any pool. The investment amount has to be equivalent to 100 USDN or higher. Chances of winning are equal for all participants. Winners will be determined by the Waves randomizer.

These are the mini-prizes (which are, in fact, not so ‘mini’):

5,000 WX for each of the pools below. Basically, by investing in any of these pools, you get a chance of winning 5,000 WX!

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2,000 WX prizes for the following pools:

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1,000 WX prizes for the following pools:

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500 WX prizes for the following pools::

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All investors in each of the above pools are in contest for its mini-prize. Chances of winning are equal. Investments have to be kept through the contest’s completion.

Pick a pool based on your preferences, interests and potential chances of winning. Pay attention to the fact that in some pools, competition for winning is not high at all (but we didn’t tell you that).

*Liquidity pools are the product that allows investors to earn passive income. The invested tokens are used by AMM (Automated Market Making) algorithm to provide liquidity by filling spot traders’ orders. This improves stability and speeds up Waves.Exchange spot trading.

*To invest in one of the pools, a user needs to deposit proportionally equal amount of both of the pool tokens, in stable pools (such as USDT/USDN) is possible to deposit in with one token (USDT or USDN).

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WX.Network — a full-featured liquidity platform for self-sovereign crypto management with a suite of investment tools and secure, easy-to-use interface.

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