Cryptocurrencies

Text

Introduction to the total issuance volume and online exchanges of WAXP

With a total supply capped at 1 billion tokens, WAXP serves various utilities within the WAX ecosystem, including staking, transaction fees, and access to WAX Cloud.

Nov 01, 2024 at 03:35 am

WAXP Tokenomics and Market Dynamics

1. Total Issuance Volume

The total issuance volume of WAXP is capped at 1 billion tokens. As of May 2023, approximately 431 million WAXP tokens have been issued, representing around 43% of the total supply.

2. Token Distribution

The WAXP token distribution at launch was as follows:

40%: Public sale
20%: Team and advisors
20%: Protocol DAO
20%: WAX Cloud marketing

3. Token Utility

WAXP serves various utilities within the WAX ecosystem:

Staking: WAXP holders can stake their tokens to earn rewards and participate in governance.
Transaction Fees: WAXP is used to pay transaction fees on the WAX blockchain.
Access to WAX Cloud: WAXP is required to access WAX Cloud, a suite of tools and services for blockchain game developers.

4. Online Exchanges

WAXP is currently listed on several major cryptocurrency exchanges, including:

a. Centralized Exchanges (CEXs):

Binance
Coinbase Pro
Kraken
FTX

b. Decentralized Exchanges (DEXs):

Uniswap
PancakeSwap
SushiSwap

5. Market Dynamics

The price of WAXP has been volatile since its launch in 2019. The token reached an all-time high of $0.45 in February 2021, but it has since declined significantly. As of May 2023, the price of WAXP is approximately $0.05.

Factors that influence the price of WAXP include:

Blockchain Adoption: Increased adoption of the WAX blockchain by game developers and players
Staking Rewards: The availability and rewards for staking WAXP
Token Burn Mechanism: WAX incorporates a token burn mechanism to reduce the circulating supply over time
Crypto Market Conditions: The overall sentiment and performance of the crypto market

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