The WAX blockchain is transforming the e-commerce sector by streamlining transactions through its purpose-built platform. Launched in 2017, WAX leverages a delegated proof-of-stake mechanism for enhanced efficiency and EOS compatibility, making online trading more seamless and secure.
E-Commerce Meets Decentralization
WAX’s introduction of innovative features and incentives, such as a suite of blockchain tools, supports the creation of decentralized applications and non-fungible token marketplaces. These developments are key to enhancing user engagement and supporting various transaction services, including a native RNG and a developer portal. With rapid block times and zero transaction fees, WAX is incentivizing active community participation in governance and proposal voting.
Facilitating cross-chain activity, WAX has established a bridge to Ethereum, allowing users to convert WAXP tokens into WAXE tokens. These tokens are integral to engaging with the platform’s tokenomics, requiring users to stake WAXE on Ethereum’s network for governance participation.
WAX’s Tokenomics and Leadership
The platform’s economic strategy involves the WAX Economic Activity pool, which distributes accumulated fees to stakeholders and rewards WAXG token holders who choose to burn their tokens. This pool is part of WAX’s larger governance structure, where token holders exert control over the platform’s value distribution.
WAX’s inception can be credited to co-founders William Quigley and Jonathan Yantis. Quigley’s background spans from Disney to venture capitalism, while Yantis brings his experience as the COO at OPSkins to his role as the COO of WAX.
Investors can acquire WAXP Coin through Binance, utilizing fiat currency to trade for the coin. Binance offers flexibility in purchase options, including the ability to set buy orders at predetermined prices.
