It’s been this vision that led to WAX being adopted by so many projects and how the protocol became known as the King of NFTs.
Long before the current hype around NFTs, the WAX team already laid the foundation for a platform to easily create and trade digital goods.
#Atomic hub wax wallet upgrade
You can look up all the registered GitHub accounts on our EOS Validator and you can stay up to date with the new Resource Model Upgrade progress on our new tracker. Make sure to check out NodeONE’s Discussion Portal which contains links to many Telegram discussions, block producer submissions, references and useful links.īlock.one has also announced that block producers are now required to submit the GitHub accounts of team members in order to be included in the Block.one voting roster. It’s great seeing so much activity surrounding this aspect of EOS governance and we look forward to seeing how this process evolvers in the weeks and months to come. Many more opinions have been submitted publicly and directly to Block.one through their official platform, while discussion in the EOS Resource Model Telegram group has also been quite active. It’s been great seeing thoughtful opinions being shared by various block producers on the EOS mainnet regarding the new resource model that’s being proposed.īlock.one recently tweeted out a selection of these opinions from teams such as EOS Authority, Blockpool EOS, EOSphere, AtticLab and EOS Argentina. While the system may appear complex at first, it’s actually pretty straightforward once you wrap your head around it. The rewards sent to WAXE and WAXG token holders on Ethereum will come in the form of ETH for a nice cross-chain DeFi experience. Staking for resources (CPU/NET) on the WAX networkįor now, WAXE tokens can’t be converted back to WAXP via the Ethereum bridge, but this functionality may be implemented in the future.Once WAXP tokens are converted to WAXE via the Ethereum bridge they can no longer be used for: WAXG can also be burned to claim your share of the fees held in the piggy bank.WAXG is the governance token and can be used to vote on various proposals, like adjusting the above percentages.90% of the fees will be sent to WAXE holders and 10% to the WAXG piggy bank.Staking WAXE tokens allows you to earn fees and generate WAXG tokens.WAXP tokens can be transferred from the WAX network to the Ethereum network where they’ll become WAXE tokens.
#Atomic hub wax wallet full
This burn reduces the total supply of WAXP tokens and benefits all WAXP token holders.įor the full details and breakdown we highly recommend you read their article but here is the gist of it: Of the total fees collected for WAX DeFi, 80% will be distributed to the WAX DeFi system while 20% will be burned. Based on agreements between WAX and various NFT brands, a percentage of these author fees will be collected to feed the new WAX DeFi system. For example, when the very popular KOG NFTs are traded, 8% of the sale price is taken as an author fee. So how does this all work exactly? When NFTs are sold on the market, brand creators can assign an author fee.
Every consumer product that can not be eaten will become an NFT.” “NFTs will stand side by side with movies, music, and video games as a distinct entertainment format. Regular readers of the EOS Hot Sauce are well aware of the recent surge in popularity for NFTs and we don’t see that slowing down anytime soon! A great quote in the WAX DeFi announcement encapsulates our feelings surrounding the NFT industry: WAX token holders will now be able to earn a share of NFTs sold by the most popular brands on WAX!
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