When was WAXP issued? Learn about the origin of WAXP in one article

WAXP, launched on June 20, 2017, powers the WAX blockchain platform designed for the gaming industry, enabling virtual currency transactions, developer incentives, and staking.

Oct 28, 2024 at 01:50 pm

1. WAXP Token Issuance Date

WAXP (WAX Protocol Token) was officially issued on June 20, 2017.

2. Origins of WAXP

WAXP is the native utility token of the Worldwide Asset eXchange (WAX) platform. WAX is a decentralized blockchain platform designed specifically for the online gaming industry. The platform was founded in 2017 by William Quigley, Malcolm CasSelle, and Jonathan Yantis.

3. Purpose of WAXP

WAXP serves several key functions within the WAX ecosystem:

Transaction Fees: WAXP is used to pay transaction fees on the WAX blockchain.
Staking: WAXP can be staked to earn rewards and participate in platform governance.
Virtual Currency: WAXP is used as a virtual currency to purchase digital assets, including virtual goods in games, NFTs, and other digital collectibles.
Developer Incentive: WAXP is used to incentivize developers to build on the WAX platform.

4. WAX Platform Launch

The WAX platform officially launched on September 30, 2019, after a successful fundraising campaign and several years of development. The platform has since become a popular destination for game developers, NFT enthusiasts, and virtual goods traders.

5. WAX Mainnet Transition

On July 10, 2020, WAX migrated its token and platform from the Ethereum blockchain to its own native blockchain. This transition allowed WAX to gain greater autonomy, scalability, and efficiency.

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