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What are WAX Tokens?

Oct 14, 2019
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What are WAX Tokens?

WAX Tokens power the WAX Blockchain. They’re used to reward participants for their activities on the chain, and to purchase digital collectibles that trade on the WAX Blockchain (called NFTs).

    You may sometimes see WAX Tokens called WAXP Tokens.

    What are the benefits of owning WAX Tokens?

    

    You can use your WAX Tokens to:

    • Earn more WAX Tokens, called WAX Staking Rewards, by voting for WAX Guilds (parties that perform blockchain functions). It’s easy to earn WAX Staking Rewards, the process takes just a minute or two, and you can unstake your tokens at any time* (learn how to stake and vote in the next sections). You can read more about WAX Staking Rewards and why we created this program here.
    • Purchase digital collectibles, called NFTs, that trade on the WAX Blockchain. To purchase WAX NFTs on these secondary marketplaces, you need WAX Tokens which you can purchase on the websites listed here. You can learn more about NFTs on WAX here.

    *The unstaking process takes 72 hours.

    Staking and voting your WAX Tokens

    Easily stake your tokens and vote in just a few clicks at stake.wax.io. Check back regularly to claim your earned WAX Staking Rewards and update your proxy vote - you can claim rewards daily, and you should vote weekly to maintain your highest vote strength. You can also stake and vote at wax.bloks.io.

    Resources

    The above is a quick overview of what WAX Tokens are, and how to stake and vote with them to earn WAX Staking Rewards. There is much more information available about each of the processes, which you can find here:

    • To learn more about WAX Staking Rewards, click here
    • To learn more about NFTs on WAX, click here
    • To get a technical deep-dive into how WAX Staking Rewards and WAX Guild Rewards are calculated, click here
    • To join the WAX Community and discuss WAX Tokens with others around the world, click here
    • To get the latest in breaking news from WAX, follow WAX on Twitter here
    • To learn how to become a WAX Guild, click here
    • To learn more about the WAX Worker Proposal System, click here
    • To receive WAX updates via email, select your preferred topics and subscribe below

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