The WX token is a base WX Network token. WX Network users receive WX tokens as a reward for investing in liquidity pools, for participating in the IDO and the Early Bird program, or just can buy WX tokens on the exchange. Users can stake WX tokens to receive gWX - the WX Network governance tool. gWX holders are able to vote for the future direction of WX Network developing in general, and for the liquidity pools changes in particular. Also, gWX holders can decide which Waves tokens they consider safe, which tokens they would like to see in liquidity pools, and vote for the WX emission distribution among the pools. In the near future, they will be able to regulate WX token emission, and many other features will be available to vote for. In addition, gWX holders have increased passive income due to boosted APY from liquidity pools investments.
Let's take a closer look at the WX token distribution process. The WX Network team issued 1000,000,000 WX tokens, which are distributed among several smart contracts:
20% has been sent to WX DAO smart contract (decentralized autonomous organization) for DeFi startups and NFT platforms built and maintained by the WX Network scheme;
15% is transferred to the WX Network team;
9.9% using to finance WX Network marketing activities;
5% has been sent to the IDO smart contact for distributing among the IDO participants who bought WX during the IDO (rounds);
0.1% transferred to the smart contract of early investors.
WX tokens placed on the Community smart contract are released in equal parts every minute (every block generated in the Waves network) and will be released for 5 years. However, not all WX tokens for Community use from the total issued amount will be distributed to liquidity providers and gWX holders. The part of WX tokens will be burned. The maximum emission rate of WX tokens for community use is about 95 WX issuing per minute. The difference between maximum emission and current emission are burned. Also, a part of the current emission is burned, according to the distribution algorithm. You can find out the numbers for the current emission rate of WX tokens, as well as the information about WX token capitalization and its distribution details in the WX Stats tab.
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tags*: liquidity pools wx gwx invest passive income reward voting