WX Token Early Birds Program
$WX is a governance token of Waves.Exchange, a decentralized exchange that has been successfully operating since 2017. A team of over 60 professionals with substantial experience in fintech and blockchain is working on the project.
Currently, the Waves.Exchange ecosystem includes an exchange, investment tools and gateways. We have been actively growing for four years, and we plan to launch more new products for you.
To solve tasks related to the complete transfer of control over the ecosystem and creation of the best possible decentralized platform, we decided to issue a governance token, $WX. In addition to the above tasks, $WX will help resolve the issues of liquidity, listings and market making. Project lightpaper is here.
$WX distribution
Under the WX release schedule, the amount of $WX in supply cannot exceed 1,000,000,000 over five years. However, the exact amount of tokens issued will be decided by community voting. This is what you will need $WX tokens for! $WX could be transformed into gWX, so-called voting units, which will be discussed later. It will be up to you to finalize the distribution schedule.
As for the distribution scheme, it looks as follows:
50% (community) will be distributed among liquidity providers who will stake their LP tokens (⅓) and gWX holders (⅔). The community smart contract will be published on the IDO start.
20% (WX DAO) will be used to create a DAO (decentralized autonomous organization) fund for DeFi startups and NFT platforms built and maintained by the Waves.Exchange scheme. The token vesting period will be one year. gWX will empower you to decide what projects should be funded. The WX DAO smart contract.
15% (team) will be transferred to the Waves.Exchange team over a one-year period The team smart contract.
9.9% (marketing) will be used to finance Waves.Exchange marketing activities. The tokens will be unlocked over a one year period. Decisions on token spending will be made by voting as of Q1 2022. The marketing smart contract.
5% (investors) will be sold in an IDO that will be launched on November 4, 2021. Don’t miss out on a chance to buy $WX at an attractive price! It’s a unique opportunity! This is a limited offer for time and the amount of tokens (50,000,000 WX). Tokens bought in the IDO will be unlocked over a one-year period following the completion of the IDO. The investors smart contract.
0.1% (early birds program) will be distributed among early investors. The vesting period is one year following the completion of the early birds program. Read more on participation in the early-bird program below.
The early birds smart contract will be published after the end of the program.
Early-bird distribution
To take part in the early birds program, you need to provide liquidity to any liquidity pool. Currently, the following pools are available:
USDT/USDN
BTC/USDN
ETH/USDN
WAVES/USDN
Shortly, more and more pools will be added, which you will choose by voting with your gWX.
Among early liquidity providers, we will distribute 1,000,000 $WX tokens, which will be gradually unlocked over a one-year period following the completion of the early-bird program. The early-bird program begins on October 21, 2021 and will run for 5 weeks, until November 25, 2021. Thus, 1 000 000 $WX will be distributed among those who will provide liquidity to any pool between October 21 and November 25, 2021.
Your amount of $WX in the entire 1,000,000 token pie will be calculated based on your share in a specific liquidity pool.
Now, let’s have a closer look at the distribution algorithm of $WX. The 1,000,000 $WX reward fund will be distributed among the liquidity pools as follows:
40%, or 400,000 tokens, will go to the USDT/USDN pool.
20%, or 200,000 tokens, will go to the BTC/USDN pool.
20%, or 200,000 tokens, will go to the ETH/USDN pool.
20%, or 200,000 tokens, will go to the WAVES/USDN pool.
Between October 21 and November 25, 2021, the Waves blockchain will generate a certain number of blocks, say 50,400. Let’s consider the USDT/USDN pool. 400,000 tokens / 50,400 blocks ≈ 8 tokens per block. Thus, we need to divide these 8 $WX tokens by all liquidity providers whose tokens were in that pool at that period (block) in accordance with their share in dollar terms. The higher a liquidity provider’s share, the larger share of these 8 $WX tokens they will receive.
A formula for $WX distribution among early investor looks like this:
IPB is income per block. In our example it’s 8 tokens per block.
h is the block height at the start of the early-bird programme.
userLPBalancei is a user’s LP balance in block i.
n is a total number of users holding LP tokens.
userLPBalanceij is the LP balance of userj in block i.
Early investors will be able to receive their tokens by following this link.
P.S Attention! It is impossible to get WX tokens from smart contracts or on the secondary market before the completion of the IDO! Beware of scammers!
Good luck!
