Question 1

What is WAVES?

Accepted Answer

WAVES is the native token of the Waves blockchain. It is both the asset used to pay transaction fees on the chain and an asset connected to the network's block-generation and leasing participation mechanisms; therefore, WAVES is not merely a token issued within a particular application. To understand WAVES, it is necessary to distinguish between “holding tokens,” “using tokens to pay fees for on-chain operations,” and “leasing tokens to nodes to support their block generation.” They involve the same native asset, but differ in balance availability, participation method, and potential revenue sharing.

Question 2

What is WAVES used for on-chain?

Accepted Answer

WAVES can be used to pay transaction fees on the Waves chain. When users initiate transfers or other on-chain operations, the account must bear the applicable fee; this directly connects WAVES with actual on-chain usage. A fee is the cost of a specific operation and does not mean that purchasing WAVES necessarily produces a return. The operation type, transaction rules, and account status may affect the fee ultimately payable; users should rely on the actual prompt in the wallet or on-chain interface before initiating an operation.

Question 3

How does WAVES issuance affect supply?

Accepted Answer

WAVES had an initial issuance of 100 million tokens, but its supply is not determined solely by that initial issuance. Waves documentation states that additional WAVES block rewards are issued with each new block, so block rewards increase the total supply. This means that “initial issuance” and “new issuance subsequently produced through block rewards” should be understood separately. The former describes the quantity at the network's beginning, while the latter depends on the operation of the subsequent block-reward mechanism; 100 million should not be treated directly as a permanently fixed maximum total supply.

Question 4

How does Waves LPoS leasing work?

Accepted Answer

LPoS (Leased Proof of Stake) allows token holders to delegate the leasing weight of WAVES to nodes rather than transfer tokens to them. Leased tokens remain owned by the holder, who can also cancel the lease. Its function is to give nodes participation weight associated with leased balances so they can participate in block generation. If a node receives block-generation revenue, whether and in what proportion it shares that revenue with lessors depends on the node operator's rules; leasing itself is not a protocol-guaranteed fixed-yield product.

Question 5

What is the difference between leasing WAVES and transferring WAVES?

Accepted Answer

Leasing WAVES is not the same as transferring WAVES to a node. Under the leasing mechanism, tokens do not change ownership; the holder retains the right to cancel the lease, while the node receives participation weight associated with that lease. A regular transfer moves assets from one account to another, and the recipient obtains control over those assets. The risks and subsequent actions differ: before choosing leasing, users should check the node's rules; before choosing a transfer, they should confirm the recipient address and asset network.

Question 6

How can holding or leasing WAVES result in a share of block rewards?

Accepted Answer

Block rewards are additional WAVES issued whenever a new block is generated and are one source of new network issuance. Nodes eligible to generate blocks receive the associated revenue first; whether lessors receive a share and how it is distributed are decided by that node's operator. Therefore, network block rewards cannot be directly equated with income for every WAVES holder. Conditions still include whether a node generates blocks, whether the node establishes a sharing arrangement, and whether the holder completes leasing according to that node's rules.

Question 7

What is Waves' community-driven monetary policy?

Accepted Answer

Waves block rewards are not a permanently fixed parameter entirely detached from network participants. Official documentation states that block generators can vote to adjust block rewards. This design connects monetary policy with block-generation participation: reward changes affect the rate at which new WAVES are added with each block and, in turn, supply evolution. The voting mechanism shows that the rules can be adjusted, but it should not be used to infer that a particular adjustment will necessarily occur or to infer specific future reward amounts.

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