WX Network review
Updated over a week ago

WX Network is an application based on the Waves blockchain that allows users to trade cryptocurrency, invest in DeFi products, earn passive income, and transfer cryptocurrency. Also, the WX Network users can create their own assets and create a liquidity pools with it.


Using WX Network, you navigate through the main and additional menus. The main menu - at the top of each tab - is divided into four sections: "Trading", "Pools", "Governance", "WX DAO", "Investments", "Wallet". An additional menu appears when you hover the cursor over an item on the main menu. Let's take a closer look at each item of the main menu.

The "Wallet" section includes several tabs: "Tokens", "PepeTeam Bridge Transactions", "Internal Transactions", "Create Token", "My Rewards" .

The Tokens tab provides all the necessary information about the token (name, balance, and more). When you click on any token line, you can see detailed information about it (description, release date, the total amount of the token, and so on). The "Tokens" tab allows you to sort the displayed tokens by 6 filters:

Main - displays tokens from the Gateway, DeFi, Community verified;

Gateway - displays tokens that can be transferred to or from another blockchain;

Stablecoins - displays tokens pegged to the fiat currency that can be deposited to the WX Network account;

LP Tokens - displays tokens of DeFi products such as Liquidity Pools, etc.;

Community Verified - displays tokens that have passed validation through the community voting;

My Issued Tokens - displays the tokens you released;

Unverified - displays tokens that do not have the status of Gateway, DeFi, or Community Verified.

The PepeTeam Bridge Transactions tab will contain information about all incoming and outgoing transactions from/to the other blockchains via PepeTeam Bridge. This tab is currently under development.

The Internal Transactions tab contains information about all incoming and outgoing transactions of your account: exchanges, transfers within the Waves blockchain, investing in DeFi products, token creation, etc.

In the Create Token tab, the user is suggested to fill in the form to create his own token. To create a token you just need to specify the name, quantity, description and the number of decimal. You can find a detailed guide on creating a token in the article Token/NFT creation.

Using the My Rewards tab, you can get information about all the rewards you are entitled to and claim them! If you have invested in liquidity pools, participated in a trading cashback or referral program, staked your WX tokens, or participated in token verification voting, then your income/reward will be displaed here.

The WX DAO tab offers a convenient interface for investing WAVES in the WX DAO, tracking your investments and the WX DAO stats.

WX DAO is a DAO based on the Power protocol. Its goal is to develop the WX Network and increase the WX token value. WX DAO participants propose ideas that may improve the WX Network and increase WX token value. If during the voting the proposal is accepted and it lead to improve treasury value, then participants receive a part of this profit.

WX Network users can invest cryptocurrency in DeFi products and receive passive income. When you hover over the Investments, you will see 2 submenu - "Liquidity pools", "WAVES Staking".

Liquidity pools are an investment product that allows users to receive passive income by providing liquidity (tokens) to a pool for AMM (Automated Market Making). A liquidity pool is a smart contract with a pair of tokens on its balance, that provides liquidity for WX Network decentralized trading. The liquidity pools facilitate and speed up the trading process by means of AMM (Automated Market Making). The AMM algorithm automatically fills traders' orders by using pools liquidity. AMM controls the proportion of tokens in each pool depending on the price change. If you are interested in investing in Liquidity pools, I recommend you read the detailed instructions - Liquidity pools

WAVES Staking earns passive income in Waves for users. Waves staking does not imply the transfer of Waves themselves, but only the rights to use them for mining nodes as a generating balance (Waves do not leave the owner's account). Nodes receive mining rewards and share rewards with those who "gave" them Waves. The Waves staking process is described in detail in the article Staking WAVES.

The Pools section contains the following items: "Pools", "Dashboard", "IDO", "Early Birds".

Please note that the IDO and Early Birds buttons are only available to those users who have participated in these programs.

Through the Pools tab, you can familiarize yourself with the list of existing pools, invest tokens in them, or claim a reward for investment.

The Dashboard section displays information about your deposits to pools, current profitability (APY), total income, and the number of LP tokens. In the My Transactions area of the Dashboard section, can be found all invest transactions to the pool and LP tokens staking.

In the IDO section, you can claim WX tokens purchased at IDO and view information about the purchased WX tokens.

In the "Early Birds" section, you can claim WX tokens if you invested in liquidity pools before November 25.

The Trading section contains tools that allow you to play on the difference in cryptocurrency rates: "Spot", "Swap".

The Spot tab is a traditional terminal for spot trading, that is, trading with placing buy and sell orders. Just follow this tutorial to set the order on the exchange - Start trading on the WX Network.

Through the Swap tab you can exchange cryptocurrencies and tokens in lots of directions without any amount limitations using the liquidity provided by the liquidity pools. Liquidity providers receive income for each Swap operation. All transactions are made through the public smart contract. More information on the "Swap" feature can be found in the following article.

The WX Network users can take a part in the development of projects based on the Waves blockchain: vote for the token verification and verification of a liquidity pool with this token, vote for the WX distribution to this pool, and much more. This tab includes the following: "Get gWX", "Token verification", "WX Emission Distribution", "Proposals", "WX Stats".

The Get gWX tab displays information about your current WX and gWX balance, as well as giving you the option to lock WX for gWX. As a result, you have the opportunity to vote the received gWX for the emission of WX in the pool in order to receive increased rewards for staking LP-tokens in the liquidity pools!

The Token Verification section presents tokens whose creators have decided to enlist the support of the community to verify their tokens. Also, here, any WX Network user who locked WX tokens can vote for the token they like, and the token creator can propose its own token for voting.

Once a pool is created, it automatically becomes member of WX Emission Distribution Voting. As a result of this vote, it will become clear what share of the total WX emission will be received by this pool, and hence its contributors. You can read more about voting for emission distribution in the Pools Voting article.

The Proposals section allows the user to vote for or against of mechanics and parameters changes of WX Network products. For a proposal to be accepted, it must reach a quorum and the most votes must be Yes. Find more info about Proposals voting in the article.

The voting procedure will evolve and there will be new opportunities to influence the development of Waves based projects.

The WX Stats section provides statistics on the planned release schedule for WX tokens, the number of released and blocked WX tokens, and the price of WX.

If you want to know more about everything you read in this review check out our knowledge base.

We offer a 24/7 support service, so if you have any questions after reading these articles, feel free to contact us.

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