The WAX Token is an ERC20 token that allows holders to participate in the governance of the WAX platform and to earn rewards based on their activity within the WAX community. In addition, WAX Tokens are used as collateral for staking and voting rights within WAX. WAXP is the native token of the WAX network. It is used to power transactions on the network and to reward participants who contribute to its growth. Like other ERC20 tokens, WAXP can be stored in wallets that support this standard.
The WAX team is led by William Quigley, the co-founder and CEO of Gamesys, a leading provider of social casino games. Other members of the team include James Mayo (CTO), who has more than 20 years of experience in software development and cryptography; and Malcolm CasSelle (President), who is an early investor in bitcoin and has held senior positions at companies such as Facebook, Zynga, and Groupon. WAX is built on the Ethereum blockchain and uses ERC20 tokens to function. It is designed to enable anyone to operate a virtual marketplace with no investment in security, infrastructure, or payment processing.
The WAX platform aims to solve many of the problems that plague international commerce today. An estimated 20 million items are bought and sold on OPSkins each year, generating more than $400 million in sales. With WAX, any game developer, video gamer, or cryptocurrency holder can create their own marketplace for digital goods with no startup cost or infrastructure. Users will be able to buy and sell digital assets using the global exchange immediately rather than having to list them on an external site like Ebay.
WAX Tokens are ERC20 tokens that may be used for purchases of digital items in games and apps that choose to adopt it. The tokens may also be used for other purposes such as unlocking special features in games or storing game state in an Ethereum smart contract. In addition, WAX Tokens will be used as collateral for staking and voting rights on the WAX platform.
The WAX team is composed of experienced entrepreneurs and developers with a strong background in gaming and cryptocurrency. CEO William Quigley is the co-founder of Gamesys, a leading provider of social casino games. CTO James Mayo previously lead engineering teams at Zynga and Groupon. Malcolm CasSelle, president of WAX, is an early investor in bitcoin and the former CIO of media conglomerate Tronc.
Many notable cryptocurrency experts are listed as advisors to the project including BitGo Engineer Clement Lessage, Enjin Coin CEO Maxim Blagov, and Singularity.University Senior Lecturer Dr. Jason White, among others.
WAX is a decentralized platform that enables anyone to operate a virtual marketplace with zero investment in security, infrastructure, or payment processing. WAX has been designed to serve as a foundation for the emerging cryptocurrency economy and as a means to stimulate growth of the digital goods market.
The WAX Token is an ERC20 token that allows holders to participate in the governance of the WAX platform and to earn rewards based on their activity within the WAX community. In addition, WAX Tokens are used as collateral for staking and voting rights within WAX.
WAXP is the native token of the WAX platform. It is used to power transactions on the network and to reward participants who contribute to its growth. Like other ERC20 tokens, WAXP can be stored in wallets that support this standard.
