WAX is short for Worldwide Asset eXchange, also known as the “Global Asset Exchange”, is a blockchain with many decentralized applications (DApps). On the WAX blockchain, users can trade and store digital assets, including NFTs, play various games, and earn cryptocurrencies. Compared to other blockchains, the WAX blockchain focuses on the gaming and NFT fields and enjoys the reputation of being the “King of NFTs”.

WAXE is an essential governance token and value anchor in the WAX ecosystem, serving as a bridge connecting the diverse world of blockchains, enabling the entire ecosystem to burst with greater vitality. As an ERC-20 token based on Ethereum, WAXE establishes a two-way exchange mechanism with the WAX mainnet token WAXP (1 WAXE = 1,000,000 WAXP), not only bridging the value channel between Ethereum and the WAX blockchain but also constructing a reservoir of cross-chain liquidity. Holders of WAXE not only enjoy voting rights for ecosystem governance but also earn platform revenue sharing through staking, making WAXE a pivotal hub linking game assets, NFT trading, and DeFi services, thereby enhancing the functionality and attractiveness of the WAX blockchain.

WAXE logo (Image source:https://www.wax.io/#lp-pom-block-49)

Related Links
Official website link:https://www.wax.io/
X (Twitter): https://x.com/WAX_io
Telegram:https://t.me/wax_io
Discord:https://discord.com/invite/dJtPetMdfb
Medium:https://wax-io.medium.com/
Github:https://github.com/worldwide-asset-exchange

WAX Token Model

The WAX tokenomics model includes six elements based on the Ethereum public chain, including:

1. WAXP to Ethereum Cross-Chain Link: With this new cross-chain link, users can convert WAXP tokens to WAXE.
2. WAXE: A new Ethereum ERC20 utility token. WAX token holders who want to participate in the WAX token economy will burn their WAXP tokens to receive WAXE (using Ethereum cross-chain), and then deposit WAXE and ETH into the WAXE-ETH liquidity pool.
3. WAXE-ETH Liquidity Pool: A liquidity pool for the WAXE-ETH trading pair, where those who deposit a combination of WAXE and ETH into the liquidity reserve pool will receive two types of liquidity pool rewards: WAXE-ETH LP Tokens and WAXG tokens.
4. WAXE-ETH Liquidity Pool Tokens: LP Tokens are obtained by depositing WAXE and ETH into the liquidity pool. The liquidity pool tokens can be staked in the WAX Economic Activity Pool to earn WAX transaction fees, which are paid out in ETH every two weeks.
5. WAXG: a new Ethereum ERC20 governance token. Those who deposit WAXG into the liquidity reserve pool will receive liquidity reserve pool mining rewards. Then, WAXG can be burned and exchanged for ETH from the savings pool; or participate in voting for WAX governance.
6. The WAX smart contract on Ethereum will manage two different economic activity pools:

A. Allocation pool. Intended to accumulate a certain proportion of WAX blockchain derivative value. The WAX fees generated by the WAX blockchain will be converted to ETH for distribution to WAXE-ETH token holders who deposit their tokens into the WAX economic activity pool.

B. Savings Pool. Intended to continuously accumulate a certain proportion of the derived value of the WAX public chain. If WAXG token holders decide to burn their WAXG tokens in the WAX economic activity pool, they will receive a percentage of the value stored in the savings pool in terms of ETH.

WAX token economy includes multiple governance tokens (source:https://www.geekpark.net/news/269075)

WAXE Token Information

Token Name: $WAXE
Token Type: ERC-20
Total supply: 3,700,000 coins
Contract Address: 0x7a2bc711e19ba6aff6ce8246c546e8c4b4944dfd

WAXE’s on-chain token information (Image source:https://etherscan.io/token/0x7a2bc711e19)

Main Features of WAXE

As an important part of the WAX ecosystem, WAXE has several core features that give it a unique advantage in the field of virtual asset trading.

First, WAXE fully utilizes the decentralization advantage of blockchain technology to ensure the transparency and security of transactions. With the tamper-resistant and distributed ledger mechanism of blockchain, all transaction records can be publicly verified, eliminating the manipulation risks brought by centralization management.

In addition, WAXE supports fast and low-cost transactions. Compared to the complex transaction processes and high fees in traditional financial systems, WAXE achieves fast confirmation and low-cost settlement through blockchain technology, aiming to provide flexible virtual asset management tools. Users can freely buy, sell, and manage virtual assets through the WAXE platform without relying on third-party intermediaries or centralized institutions, enhancing the convenience of asset management.

Finally, WAXE relies on a global trading platform to break the geographical restrictions of the traditional financial system, enabling users to freely trade virtual assets worldwide, greatly enhancing market liquidity, and providing a more convenient and efficient trading environment for global users.

WAXE tends to support cross-chain liquidity and revenue sharing (Image source:https://etherscan.io/token/0x7a2bc711e19）

Project Development Roadmap

1. Defend against quantum threats
   As quantum computing moves from theory to reality, the WAX blockchain was designed with quantum resistance from the beginning, using advanced encryption schemes to defend against potential threats. By 2025, WAX will further strengthen the existing framework, explore and deploy new encryption technologies to ensure the long-term security of transactions, protect user data, and prevent the ecosystem from being impacted by emerging technologies, emphasizing forward-looking security development.
2. RNG System Upgrade
   The fairness of blockchain games and NFT sales is crucial, and decentralized random number generators (RNG) play a key role in this. By 2025, WAX will further decentralize its on-chain RNG system through open source and architectural reconstruction, allowing block producers to directly participate in RNG calculation and verification, thus dispersing trust and enhancing the credibility of randomness. This upgrade not only enhances system transparency but also increases the possibility of community collaboration, enabling all decentralized applications (DApps) on the WAX blockchain to rely on a more fair, flexible, and reliable RNG mechanism.
3. Multi-chain bridge code open source
   The WAX Multi-Chain Bridge has become an important infrastructure connecting blockchain networks such as Solana, Polygon, Base, and TON. By 2025, WAX plans to gradually transfer control of the decentralized bridge to block producers to increase community trust. In addition, the bridge’s code will be fully open source, encouraging community developers to collaborate on optimization and innovation, further enhancing the scalability of the WAX ecosystem.
4. RAM resource optimization
   To support larger user growth, WAX plans to optimize the RAM (memory) usage mechanism in 2025 to improve storage efficiency, support more active accounts, and reduce the computational burden on block producers, providing a smoother interactive experience for developers and DApp users.
5. Token Economics Adjustment
   WAX has always taken community-driven as the core principle of ecosystem development, and will continue to support developers and contributors to submit public proposals through the WAX Labs funding program to ensure the platform continues to adapt to the community’s needs. In addition, WAX also plans to optimize token economics, including adjusting the “upgrade mechanism”, inflation rate, and transaction fees, to achieve long-term sustainability and ensure the efficient operation and economic balance of the ecosystem.

Recently, WAX announced its 2025 development roadmap (Image source:https://x.com/WAX_io/status/1885010148915073213）

Market performance

As of February 4, 2025, the latest price of WAXE is $32.02, with a fully diluted market cap of $118,474,000. Since mid-January, the WAXE token has entered a downward channel, with prices continuously declining and volatility increasing, further weakening market sentiment and insufficient buying power.

WAXE price trend (image source:https://coinmarketcap.com/dexscan/ethereum)

Conclusion

WAXE has played a key role in the blockchain games, NFT, and virtual asset trading fields, injecting strong vitality and continuous growth potential into the WAX ecosystem. Despite the token’s downward performance, as the ‘golden pass’ connecting tens of millions of game users and DeFi services, the future of WAXE is not only about price fluctuations, but also points to a more open and efficient chain game economy. As the WAX ecosystem continues to attract global developers and players, WAXE may become an indispensable value engine for the ‘play-to-earn economy’ in the Web3 era, still with high development potential in the future.