The WX token comes into play
The launch of WX distribution is set to create new earning opportunities on Waves.Exchange.
As of today, users will start receiving WX tokens for the provision of liquidity to Waves.Exchange pools. In addition, the unlocking of tokens bought in the IDO begins, as well as the distribution of 1 mln WX tokens among early investors in Waves.Exchange pools — those who provided liquidity between the pools’ launch on October 21 and November 25.
The WX token unlock process
On November 25, at a block height of 2 871 851, the first tokens will be unlocked, and the process will gradually continue for a year. To see how many tokens you will receive for each block, divide the total number of tokens you bought by the number of blocks, 525,600. Similarly, you can calculate an approximate number per hour, per day, per week and per month.
To receive your tokens, log in to Waves.Exchange, go to the pools page in the IDO section and click the unlock button to unlock your first WX tokens and immediately begin using their advantages.
Increasing your income thanks to WX
The launch of WX distribution will enable you to experience all the advantages of the token. In addition to a base income from the pools (vAPY), WX holders will begin receiving an extra income, tAPY, as soon as they lock their WX for a certain period.
In exchange for locking WX you receive gWX tokens that could be used to boost your income from pools. At initial stages, when the number of WX is small, the boosting is likely to show impressive results.
Boosting will work as follows.
In the boosting section, set the number of WX you would like to lock and the locking period, hit the button Lock WX and increase APY.
The larger the amount and longer the period, the more gWX tokens you will receive in exchange. The gWX reflects your current boosting power, which will gradually decrease since the moment of the WX locking.
Once the locking period is over, your WX tokens will be again available to you.
Important: to maximize your awards in WX tokens, keep your boosting power at the maximum level.
Waves.Exchange liquidity pools are a lucrative investment tool, and WX staking, as well as gWX-based boosting will make them even more lucrative.
Today, another pool, WX/USDN, will be added to the initially launched four pools (USDT/USDN, BTC/USDN, ETH/USDN and WAVES/USDN).
As a reminder, to invest in a pool, you need to provide equal amounts in both of the pool’s tokens — for instance, USDN and WX for the WX/USDN pool — and receive LP tokens in exchange.
Other advantages of owning WX
The advantages of owning WX tokens are not limited to increased pool profitability. Thanks to WX, users will take part in the exchange’s governance: all decisions in the ecosystem will be made by voting with gWX. Only WX holders will set pool weights, increase the profitability of a pool in which they invested or select new pools. Moving forward, voting with WX will also apply to other parameters, such as selecting tokens for listing or launching new gateways and investment products.
In addition, WX holders who lock their assets will receive governance awards accumulated from fees charged for swaps in the pool. A fee is paid on each swap transaction at the time of order execution.
Can you sell WX? (and should you?)
Currently, the exchange offers trading pairs with the WX token, and the order book is accumulating orders for selling the token at 10 USDN, 20 USDN or 30 USDN: apparently, users expect growth already on the first days of the token’s circulation.
As announced earlier, the WX IDO kicked off on November 5 and was hugely successful, with all 50 mln tokens sold within 29 hours at 1 USDN for 1 WX.
At a recent AMA, Waves founder Alexander Ivanov stressed that the IDO’s goal was not profits but greater involvement of users in the ecosystem and offering them maximum earning opportunities. Another testimony to that is the IDO’s conditions, which are unusual for the crypto industry, as users can either collect WX tokens or the amount in USDN spent in the IDO.
Now, it’s up to you to decide whether you should sell your WX or use all the advantages offered by the token!