ERC-20 Wax Holders Can Now Swap for Genesis WAX Protocol Tokens and Claim Rewards
Worldwide Asset eXchange (WAX), the world’s first blockchain protocol purpose-built for digital commerce, celebrated the release of its mainnet and protocol tokens. ERC-20 WAX Token holders have until August 30, 2019 at 5pm Pacific Time to swap their tokens for WAX Protocol Tokens. WAX Protocol Tokens are used to stake, vote, and earn rewards, allowing token holders to potentially double their WAX Tokens over three years with the Genesis Block Member (GBM) Program.
The GBM Program is just one of the incentives WAX has underway:
- WAX Staking Rewards are another way that WAX Token holders can earn more WAX Tokens while contributing to the blockchain’s healthy development
- WAX Guilds earn WAX Guild Rewards. The WAX Guild candidate criteria can be found here. 21 WAX Guilds will produce blocks on the WAX Blockchain and 36 standby guilds will be added in the future. Both WAX Guilds and standby guilds will share in rewards.
dApps on WAX:
dApp developers can now duplicate existing EOS dApps onto the WAX Blockchain with just a few clicks, and immediately gain access to WAX Token holders and millions of OPSkins customers. This exposes their dApp to a community of video gaming enthusiasts who are already using random number generator-based dApps and trading NFTs. To learn all the advantages to running dApps on WAX, read: The Top 10 Reasons to Run dApps on WAX
WAX Service Layer:
Hand-in-hand with the mainnet launch is the launch of the WAX Service Layer, a full suite of blockchain-based support tools and services allow the community to build projects on WAX. dApp developers, marketplace owners, video game creators, collectible traders and more can now utilize the following microservices:
- WAX Creator: a self-service tool that lets anyone make an NFT on the WAX Blockchain for free
- WAX Account: a blockchain wallet that provides more utility than the standard wallet, though it does not store private keys
- WAX All Access: a single sign-on and OAUTH service
- WAX ExpressTrade: a free, instant peer-to-peer trading service
- WAX Marketplace: a WAX Marketplace that users can create using API or OPSkins.com
- WAX Explorer: a signature user-friendly block explorer that provides interactive, 3D visual representations of every item traded
- WAX Random Number Generator native blockchain service: an open source service that provides solutions to commonly experienced problems by dApp developers
- WAX Seller Central: a self-service portal that game sellers can use to earn 10% of the commission every time their game re-sells to someone else
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“So much hype around blockchain is going unfulfilled simply because no one has addressed all the pain points in a single solution,” said William Quigley, CEO of WAX. “We carefully designed the WAX Blockchain Platform and our full suite of blockchain-based tools to enhance the online marketplace experience. It’s drop-dead simple for users and delivers blockchain’s original promises.”
Holders of ERC-20 WAX Tokens have until August 30, 2019 at 5pm Pacific Time to swap for Genesis WAX Protocol Tokens and become part of the Genesis Block Members (GBM) Program. WAX does not recommend allowing third-party companies to perform the Token Swap on the user’s behalf.
Within the next month, WAX will be moving existing WAX ExpressTrade transactions and WAX NFTs to the WAX Blockchain. WAX will also be releasing a new WAX Protocol Whitepaper, additions to the WAX Service Layer, a developer portal, and more features for WAX Token holders and developers.