WAX will Issue 10x the Tokens at Distribution
We have a major announcement for you. When WAX Tokens are issued beginning this week, all contributors will receive 10x the number of tokens they purchased. So for example if you purchased WAX during the Main Sale at the price of 150 WAX per 1 ETH, you’ll receive 1500 WAX per 1 ETH instead. If you purchased during the Pre-Sale, you’ll get 3000 WAX per 1 ETH.
The reason we’re issuing 10x the tokens is because it will be more convenient for users of the token. It will make microtransactions more easily calculable, and since WAX was designed to facilitate the millions of daily microtransactions for digital items, this is an important feature to include for WAX users.
Let us explain. In general, purchasers of cryptos tend to buy tokens in increments of one. For that reason, we expect that when WAX Tokens are purchased, the majority will be buying, say, 1 WAX or 15 WAX or 950 WAX, and will be much less inclined to buy a fraction like 15.02143 WAX for example.
Also, smaller-scale purchasers and users of WAX Token — as well as the marketplaces, affiliates, listing sites, etc. that adopt the WAX Platform — will find it easier to purchase something for 1 WAX as opposed to .1 WAX, or for 2.18 WAX instead of .218 WAX. It’s a more familiar way to buy, sell, trade and rent items using WAX when the denomination is in, or at least closer to, whole numbers.
By issuing 10x the tokens, contributors not only receive more tokens than purchased but it also makes it more convenient and familiar for users of WAX to price items.