What is WAX (WAXP)?

Demand caused by the popularity of NFT and blockchain games

With the popularity of NFT and blockchain games, the demand for infrastructure that can safely and quickly trade digital game assets has also begun to grow. In traditional gaming ecosystems, players cannot fully control the digital items they own, and blockchain technology has changed this concept, allowing assets to truly belong to users.

WAX (WAXP) is one of the blockchain platforms developed for this purpose, with a particular focus on in-game digital assets and the NFT ecosystem. WAX is a decentralized blockchain network that allows users to create, purchase, sell in-game items and NFTs, and securely exchange them with other users. With high transaction volume, low cost and game-oriented infrastructure, the platform is designed to provide solutions for developers and collectors.

So what is WAX (WAXP)? How does it work? What are the purposes of WAXP tokens? Here is what you need to know about the project.

What does WAX (WAXP) offer?

WAX (WAXP) is a decentralized platform specifically designed for blockchain games and the NFT ecosystem. The platform allows users to securely create, store, purchase, and exchange in-game digital assets with other users. In addition, developers can also leverage WAX infrastructure to create NFT-based application and game ecosystems.

The main digital assets traded in the WAX ecosystem include in-game items, NFT collectibles, and WAXP tokens. The platform is designed to enable the rapid and low-cost transfer of these assets.

How does WAX (WAXP) work?

WAX has a decentralized infrastructure based on blockchain that aims to simplify digital asset transactions. The basic operating model of the platform includes: NFT creation, digital asset listing, transaction execution between users, and collaborative work of blockchain verification mechanisms. With its high transaction capacity, the platform is particularly designed to support large transaction traffic in the game ecosystem.

NFT and game asset markets

One of the main uses of WAX is NFT and in-game digital asset transactions. Users can list game items or NFT collectibles they own on the platform, exchange them with other users, or sell them in exchange for other crypto assets. The platform focuses on ensuring the safe transfer of digital assets used in blockchain games.

Game-oriented blockchain infrastructure

WAX was developed with blockchain games and NFT collections in mind. With its high transaction capacity and fast verification times, the platform is designed to support user-traffic-intensive gaming ecosystems.

WAX (WAXP) Highlights

This platform provides multiple functions for NFT and game ecosystems.

High transaction capacity

According to data shared by WAX, the network can execute approximately 3000 transactions per second. The platform also claims to have a scalable infrastructure capable of supporting more than 23 million transactions per day, more than 30,000 decentralized applications, and more than 15 million users.

Extensive user ecosystem

According to statistics shared by the platform, there are: more than 200,000 daily active wallets, more than 15.3 million blockchain accounts, and more than 450 million created NFTs. These data indicate that the platform is designed to reach a wide user base in the NFT and blockchain gaming fields.

Carbon-neutral infrastructure

WAX adopts an approach that emphasizes environmental sustainability. The platform says its blockchain network operates 100% carbon neutral.

Games and NFT-oriented architecture

Unlike universal blockchain, WAX is designed directly to address the needs of game developers and NFT collectors. In this way, it aims to perform digital asset creation, buying, selling, and transfer operations more efficiently.

What is the use of WAX (WAXP) tokens?

WAXP is a local utility token for the WAX ecosystem. It is used within the platform for network security, pledge operations, and various DeFi applications.

Pledge

Users can contribute to network operations by pledging their WAXP tokens and vote for block producers. According to the information shared by the platform, pledge users can receive an annualized rate of return (APY) of approximately 8%. In order to make the most effective use of rewards, it is recommended to update pledge operations weekly.

WAXFusion

The platform also provides a liquidity pledge solution called WAXFusion. Through this system, users can continue to pledge their WAXP tokens while maintaining the liquidity of the tokens. According to the platform, WAXFusion aims to provide additional revenue opportunities through different reward mechanisms and the POL flywheel model.

Mobility cell

WAXP holders can earn a share of transaction fees by participating in the liquidity pools on Alcor and TacoSwap. Through this structure, users can take advantage of additional revenue opportunities in the DeFi ecosystem.

WAXP Mobility on Ethereum

The platform also supports the official Uniswap WAXP pool on the Ethereum network. Users who provide liquidity to this pool can both receive rewards and provide transition assistance to new users joining the WAX ecosystem through Ethereum.

WAX (WAXP) Developer Ecosystem

WAX provides a variety of tools not only for end users, but also for developers. Through the platform's developer portal, software teams can develop NFT applications, game projects and digital asset platforms. This approach is designed to support the long-term adoption of the WAX ecosystem by more applications.

WAX (WAXP) Investors

WAX is one of the projects that has received support from multiple investment institutions in the blockchain and digital assets fields. Platform investors include venture capital funds and companies in the cryptocurrency ecosystem. The investors announced by the platform are as follows: Pantera Capital, OKX Ventures, Animoca Brands.

WAX (WAXP) Team

The WAX team consists of founders with experience in blockchain technology, digital asset economics and product development. The project management team includes managers in different positions responsible for platform technology development and ecosystem growth. The team members announced by the platform are as follows: William E. Quigley -co-founder and CEO;Jonathan Yantis -co-founder and chief operating officer;John Brechisci -co-founder and chief designer.

Official link

website, X (Twitter), white paper.