WX.Network: 2022 in review

As we reflect on the past year at WX.Network, it’s important to acknowledge the challenges we faced in a difficult market. However, we remain confident in our ability to overcome these challenges and continue making progress. Let’s take a moment to celebrate the successes we’ve had in 2022, as well as look ahead to what’s in store for the future.

Full-cycle token governance

One of our major accomplishments this year was the launch of full-cycle token governance in March.

This feature puts the power of voting in the hands of our community, allowing them to participate in the token verification process, as well as vote on pools and WX emission distribution.

Since its implementation, we’ve seen a significant number of tokens created and verified, and are now working on introducing another voting process for any question related to WX.Network.

The first of these will be a vote on WX release rates.

Liquidity pools big contest

August was a particularly exciting month for us, as we launched a massive liquidity pool contest with a 180,000 WX prize fund, which attracted 1,499 participants.

We also unveiled our revised roadmap, which we’ve made significant progress on, and underwent a rebranding from Waves.Exchange to WX.Network.

Along with the rebranding came the release of a new mobile app that combines the functionality of both Waves.Exchange and WX.Invest.

Revised roadmap

In August, we published a revised roadmap. Now, we are glad to report that most of the plans for the remainder of 2022, stated in the roadmap, have been implemented.

You can get more details about the roadmap here, and we’ll specifically discuss our plans for 2023 below.

Rebranding

This year’s fourth quarter started with a major rebranding that included the name change from Waves.Exchange to WX.Network.

Since its inception five years ago as ‘Waves DEX,’ the exchange’s services have expanded well beyond simple token swapping, and it’s turned into a robust platform for self-sovereign crypto management with a suite of investment tools and a convenient interface. As a result, a new name was needed, and WX.Network much more accurately reflects the wide array of products, features and capabilities the platform now offers.

While we changed our name, logo and design, the positioning remained the same: offering users a convenient decentralized platform for buying, swapping, trading and investing crypto.

New mobile app

Along with updated branding, came the release of WX.Network, a new mobile app that combines the functionality of both Waves.Exchange and WX.Invest. The combining of the two existing apps created an enhanced, unified experience.

Partnership with Waves Camp

We also recently announced a partnership with Waves Camp, the Waves ecosystem incubator, to develop a cryptocurrency launchpad aimed at helping new projects raise funds from the Waves community.

Projects that go through Waves Camp will get a guided path through the token verification process, further improving the value that the Camp program can provide to projects looking to build on Waves.

With the help of WX Launchpad, which is to be released next year, any developer who wants to build their projects within the Waves ecosystem will get easy access to crowdfunding — through listing their tokens on the exchange in an initial liquidity offering (ILO).

Token creation contest

And to round out the year, we held a token creation contest in November, which saw the creation of 267 tokens with real utility and garnered widespread support from our community.

Other achievements

• Revamped the mechanics for calculating boosting rates in our liquidity pools.
• As a result, liquidity providers’ rewards substantially increased.
• Burned 90M WX tokens
• Implemented a MetaMask login option.

Plans for 2023

We are confident about the upcoming year and have ambitious plans in store. In addition to the WX Launchpad and a governance mechanism that allows for voting on issues, we plan to implement stop-loss and take-profit orders, decentralized gateways, and swaps in the WX liquidity pools. We also plan to add new fiat providers, allowing users to easily buy and sell coins for fiat currency. Another goal for the coming year is to introduce LP staking based on the mechanics of the liquidity pools. To increase the value of the WX token, we will continue to burn it and launch new investment products featuring WX.

Overall, 2022 has been an eventful and successful year for WX.Network, and we look forward to continuing to innovate and bring value to our users in the future.

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