Waves Exchange announced last Thursday, November 25, through its Twitter account, the launch of the WX tokens, for which users will begin to receive WX tokens for the provision of liquidity to the Waves.Exchange groups.
“Starting today, users will start receiving WX tokens for the provision of liquidity to Waves.Exchange groups. In addition, the unlocking of the tokens purchased in the IDO begins, as well as the distribution of 1 million WX tokens among the first investors in Waves Exchange pools, those that provided liquidity between the launch of the pools on October 21 and 25 November”, he said through an article published on the Medium platform.
The process of unlocking the WX token
The company indicated that on November 25, at a block height of 2871851, the first tokens were unlocked and the process will continue gradually 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.
In addition, he explained that to receive your tokens, log in to Waves.Exchange, go to the groups page in the IDO section and click the unlock button to unlock your first WX tokens and start using your benefits immediately.
Increasing your income thanks to WX
In his opinion, the launch of the WX distribution will allow him to experience all the advantages of the token. In addition to a base group income (vAPY), WX holders will start receiving an additional income, tAPY, as soon as they lock their WX for a specified period.
Similarly, in exchange for blocking WX, you receive gWX tokens that could be used to increase your income from groups. In the early stages, when the WX number is small, the momentum is likely to show impressive results.
The boost will work as follows:
• In the boost section, set the number of WX you would like to block and the block period, press the Block WX button and increase the APY.
• The higher the amount and the longer the period, the more gWX tokens you will receive in return. The gWX reflects your current boost power, which will gradually decrease from the time of the WX lockout.
• Once the lockout period is over, your WX tokens will be available to you again.
According to the company, Waves.Exchange’s liquidity funds are a lucrative investment tool, and participation in WX, as well as gWX-based momentum, will make them even more lucrative.
Also read: Idle DAO: “Inactive Grant Program 2.0 is available”
Other advantages of having WX
The company assured that the advantages of owning WX tokens are not limited to a higher profitability of the group. Thanks to WX, users will participate in the governance of the exchange: all decisions in the ecosystem will be made by voting with gWX. Only WX holders will set group weights, increase the profitability of a group they invested in, or select new groups. In the future, voting with WX will also apply to other parameters, such as the selection of tokens for the list or the launch of new gateways and investment products.
Additionally, WX holders who lock their assets will receive accrued government awards from fees charged for swaps in the pool. A fee is paid for each exchange transaction at the time of order execution.
Can you sell WX?
The company highlighted that, currently, the exchange offers trading pairs with the WX token, and the order book is accumulating orders to sell the token at 10 USDN, 20 USDN or 30 USDN: apparently, users expect growth already in the former days of token circulation.
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