This November 4 Waves.Exchange will launch the IDO of its WX token, the central cryptocurrency of the ecosystem of the exchange based on the Waves blockchain, which can be used in different aspects of the platform, such as voting, increasing the benefits of the investments, lock for profit, etc.
This event represents an ideal opportunity for those looking to get started in the world of cryptocurrencies.
Of the total supply of 1,000,000,000 WX only 50,000,000 will be distributed (which represents 5%). And that’s not all, since the price at which the tokens will come out is only $ 1 USDN (the stable asset of the Waves network).
Through an Initial Offer in DEX (IDO), this token will be placed in the hands of the community, which allows the asset of said project to be acquired for the first time, which has a functionality and a market value, through a decentralized system.
What is Waves.Exchange?
Waves Exchange is a decentralized platform for the exchange of cryptocurrencies with a long history.
The team, which has more than 5 years of experience in the cryptocurrency sector, created this platform that combines the security of decentralized systems with the characteristics and advantages of standard centralized exchanges.
All the projects that have been part of the Waves ecosystem have stood out.
Its first big launch was the Waves IDO, in 2016, whose starting price was $ 0.188, reaching $ 43 and assuming a growth of 15,857.45% for those users who trusted the project.
Its second major milestone was the EGG token in April of this year which, having an initial cost of $ 20, its increase was 4,900% after reaching $ 2,500.
In addition, last week it broke the market again with Vires TGE that increased by 471.43%, after increasing from 14 to 120 dollars.
What is an IDO?
An Initial Decentralized Exchange Offer (IDO) is a process carried out by a project that, through the launch of a cryptocurrency or token, seeks to raise funds.
By using an IDO, token sales are launched through a decentralized liquidity exchange and provide assistance to the user in making an important decision about digital assets, which would help more communities to participate in ecosystem products and services.
The WX token is the next launch of the Waves ecosystem, which through the IDO will be placed in the hands of the community.
In this way, you will be able to acquire for the first time the tokens of said project, which have a functionality and a market value, through a decentralized system.
According to the WX launch schedule, the quantity of WX in supply cannot exceed 1,000,000,000 for five years.
However, the exact number of tokens issued will be decided by community vote.
Regarding the distribution scheme, it looks like the following:
50% (community) will be distributed between liquidity providers who will stake their LP tokens and gWX holders. The community smart contract will be published at the IDO startup.
20% (WX DAO) will be used to create a DAO (Decentralized Autonomous Organization) fund for DeFi startups and NFT platforms built and maintained by the Waves.Exchange scheme. The token concession period will be one year. gWX will allow you to decide which projects should be funded. The WX DAO smart contract.
15% (team) will be transferred to the Waves.Exchange team over a period of one year The team smart contract.
9.9% (marketing) will be used to fund Waves.Exchange’s marketing activities. The tokens will be unlocked for a period of one year.
Decisions on token spending will be made by voting starting in the first quarter of 2022. The marketing smart contract.
The 5% (investors) will be sold in an IDO that will be launched on November 4, 2021. This is a limited offer for time and quantity of tokens (50,000,000 WX). Tokens purchased from the IDO will be unlocked for a period of one year after the IDO ends. The smart contract of investors.
0.1% (Early Birds program) will be distributed among the first investors. The vesting period is one year after the end of the early booking program.
What benefits will WX holders have?
- Right to vote: All WX holders will be able to vote for group profitability, for adding new groups, for tokens and connecting new blockchains.
- Additional income for blocking WX: The amount of spot trading commissions charged during the IDO period will be distributed among those who block WX. After the IDO, this reward will be paid out weekly.
- Deep integration with exchange products: With WX it will be possible to invest in the best products of the Waves ecosystem.
- Commissions in WX are cheaper: With WX, you can save significant amounts in commissions compared to other ecosystems.
How do I participate in the IDO?
To participate in the presale, you must open the Waves.Exchange page, and register. The WX token can be acquired from November 4, 2021, through the IDO and its initial purchase price will be $ 1.
The USDN (Neutrino USD) is an algorithmic stable currency that is worth the same as the US dollar, with it you can buy WX tokens. This process will be executed through a smart contract, or Smart Contract, which secures and executes the transaction.
The WX you acquire will be gradually unlocked with the generation of a new block and will be delivered proportionally until, at the end of the mining period, you have already received the full amount of tokens obtained.
The steps to acquire WX are as follows:
- Create an account in Waves: The first step is to go to Waves.exchange and in the upper corner of the screen we click on the box that says “Create account”. Users have the option of creating it with a Ledger device, Seed or with email, whichever is more convenient for you.
- Obtain Liquidity: We can buy USDN with a credit card or send cryptocurrencies from other exchanges where we have liquidity.
- Have the USDN ready . For the IDO we will need to have the USDN, so if you have sent cryptocurrencies from other sites, you can exchange them in the section of commerce → Spot, or use Swop.fi, the automatic exchanger of the Waves network.
The best thing is that in the IDO protocol a new function is implemented where the initial investment is reimbursed in the event that you are in losses.
This is thanks to the trust of the entire Waves team, who fully trust the project and therefore deposited a backing fund of the total value of the IDO so that, if someone wants to recover their funds, they can take charge of their losses, recovering your initial funds.
Distribution for early risers
To participate in the “Early Birds” program, it is necessary to provide liquidity to any liquidity fund.
Currently, the following groups are available: USDT / USDN, BTC / USDN, ETH / USDN, and WAVES / USDN.
More and more groups will be added shortly, which you will choose by voting with the gWX.
1,000,000 WX tokens will be distributed among the first liquidity providers, which will be gradually unlocked over a period of one year, after the end of the early booking program.
The early booking program begins on October 21, 2021 and will last for 5 weeks, until November 25, 2021.
Thus, 1,000,000 WX will be distributed among those who will provide liquidity to any pool between October 21 and November 25, 2021.
Your WX amount on the entire 1,000,000 token pie will be calculated based on your stake in a specific liquidity pool.
Do you want more information?