WAX today announced its quarterly token circulation update. As scheduled, WAX Token supply has increased over the quarter to a total of 618,948,388 tokens. The tokens have been, and will continue to be, distributed in a manner consistent with the token usage guidelines in WAX’s technical white paper.
When the lock-up period for certain contributors and advisors ends in June 2018, WAX expects to have between 825 and 850 million tokens in circulation out of their 1.85 billion total tokens. The remaining one billion WAX Tokens will be used over a number of years for development of the market.
WAX will continue to update its token circulation on CoinMarketCap.com on a quarterly basis at the end of each quarter. The increase in reported circulation at the end of the quarter represents the tokens released throughout the quarter. These updates will remain consistent and are in accordance with existing WAX policy.
WAX is a functional utility token that supports a decentralized platform, enabling anyone to operate a fully functioning virtual marketplace with zero investment in security, infrastructure or payment processing. Developed by the founders of OPSkins, the world’s leading marketplace for online video game assets, WAX is designed to serve the 400+ million online players who already collect and trade video game assets and Crypto Collectibles. With the inclusion of the WAX simple exchange widget, gamers will have access to a worldwide market with blockchain trust and transaction verification. For more information, please visit https://wax.io and http://www.opskins.com