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WAX ERC-20 Token
The total supply of WAX Tokens that will ever be created is 1,850,000,000. All WAX Tokens will be generated in a seed block and distributed according to the chart below. The information provided on token creation, process, allocation and use of sale proceeds is the current plan, but is subject to change in WAX’s discretion.
WAX Team and Founders
Token Sale
64,750,000 WAX Tokens were sold in the WAX Token sale. When WAX Tokens are issued, all contributors will receive 10x the number of tokens they purchased. The reason we’re issuing 10x the tokens is because it will be more convenient for users of the token. It will make microtransactions more easily calculable, and since WAX was designed to facilitate the millions of daily microtransactions for digital items, this is an important feature to include for WAX users.
Market Development
30% of WAX Tokens were, or will be, issued to encourage new developers to take part in the growing marketplace. These tokens will be distributed to new developers and publishers to incentivize them to release virtual goods that can be traded on the WAX Platform. This provides a new indirect distribution channel for game developers while allowing market demand from the gaming community to shape games we love.
Contributers and Advisors
15% of WAX Tokens are, or will be, held by the early contributors and advisors. This group has contributed 16,800 ETH to acquire 5,040,000 WAX Tokens. Some contributors and advisors have received, or will also receive, free bonus tokens for the advisory work they will be doing for WAX. These tokens cannot be immediately transferred due to time-based restrictions on their use.
20% of WAX Tokens are being, or will be, retained by WAX and reserved for development, team, and founders who will continue to enhance the WAX Platform with valuable updates and their use of these tokens will also be time released.
Use of Proceeds
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