In Waves Exchange it is the users who have the governance of the platform.
Waves has its own token, WX, which you can lock to obtain passive income.
Decentralized finance is gaining more ground in the cryptocurrency ecosystem. DeFi exchanges are an alternative to exchange bitcoin and tokens without depending on third parties, while you have full control over your funds. But, in the case of Waves Exchange, you can not only trade the main digital assets, the platform also offers a wide variety of options to invest wisely.
What is Waves Exchange?
Waves Exchange is a decentralized platform for trade bitcoin and cryptocurrencies. One of the advantages of this exchange is that no need to go through a KYC verification (Know Your Customer), which helps maintain your privacy and anonymity.
Also, only you have access to your funds, no one else. Waves Exchange works with a system that gives governance to users through voting, so it is they who have the power to make important decisions related to the platform, such as fees and interest rates.
According to data from its website, more than 30 thousand users have joined Waves Exchange Until now, investing USD 612 million. And that is one of the great attractions of Waves, the variety of options available to invest with cryptocurrencies.
Learn about the options to invest in the DeFi Waves Exchange
In November 2021, Waves Exchange launched an IDO (Initial DEX Offering) in which about 50 million WX, the platform’s native token, were sold. Those who acquired WX during the IDO they can lock the token for a year and earn passive income continuously.
If you did not have the opportunity to be part of the IDO, do not worry, you still have time to invest in Waves Exchange. You can do it through its liquidity pool. If you wonder what a pool or liquidity reserve is, it is a set of funds blocked through a smart contract.
Pools are used to guarantee the correct functioning of decentralized automatic exchanges. In the case of Wave Exchange, its liquidity pool provides a great return for liquidity providers, with an APY (Annual Percentage Yield) of up to 496%.
It is possible to provide liquidity in Wave Exchange with WX and USDN, the native tokens of the ecosystem, and obtain a high percentage of profit. Another alternative to invest is to block WX. By blocking this token, the user receives gWX, a unit that measures their governance power on the platform.
The more gWX you have, the greater your governance power, which means that when making decisions in Wave, your votes will carry more weight. Besides, with gWX you can boost your annual returns in the pool up to 3x, and you will receive different governance rewards periodically.
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