Question 1

What is WAXP?

Accepted Answer

WAXP is the native token of the WAX blockchain—that is, the foundational asset used by the mainnet for network activity. It is used to pay for or facilitate transactions within the ecosystem and enables holders to participate in staking and governance; therefore, other tokens issued by contracts on WAX do not automatically have these native network uses.

Question 2

What can WAXP be used for?

Accepted Answer

WAXP can be used for transaction activity in the WAX ecosystem, including digital-asset trading, marketplace activity, and decentralized application (dApp) interactions; official materials list it as the principal medium of exchange for these transaction fees. Before acting, users should also confirm that their wallet, application, or service connects to the WAX mainnet and supports the relevant asset, because tokens with the same name or tokens on other chains are not equivalent to mainnet WAXP.

Question 3

What is the purpose of staking WAXP?

Accepted Answer

The purpose of staking WAXP is to lock tokens for a specified period to support network security, block production, and consensus-related mechanisms. After locking tokens and participating under the applicable rules, participants may receive WAXP rewards; rewards do not arise automatically merely from holding, and eligibility, lockup duration, access method, and calculation conditions depend on the network or service rules at the time. This arrangement links participants' token commitments to network operations: while tokens are locked, they generally cannot be freely used in the same way, while rewards compensate participants for their contribution to network participation and security.

Question 4

Can holding WAXP enable participation in governance?

Accepted Answer

Yes. WAXP holders may vote to support block producers and validators, or participate in governance matters such as network upgrades, protocol changes, and community initiatives. Voting or delegation must be completed according to the network's rules at the time; holding WAXP itself does not mean that a vote has already been cast, nor does it guarantee that a proposal will be adopted. In practice, governance allows token holders to participate in decisions affecting the direction of network operations by selecting network participants or expressing preferences on changes.

Question 5

How does WAXP differ from other tokens on WAX?

Accepted Answer

The difference lies in issuance and network role. WAXP is the native token of the WAX mainnet; applications, games, or services on WAX may also create their own fungible tokens through smart contracts, but the issuance rules, uses, risks, and whether those tokens have liquidity are determined by the relevant project or contract. Therefore, a contract token circulating on WAX does not mean it can replace WAXP for paying for network activity or automatically has WAXP's staking and governance attributes.

Question 6

How is WAXP's tokenomics model related to NFT activity?

Accepted Answer

The tokenomics model described in WAX's official documentation aims to connect the economic value generated by NFT activity on WAX with the Ethereum DeFi ecosystem, with WAXP serving as the native token. The documentation also mentions the WAXP-ETH bridge for transferring assets between the WAX chain and Ethereum. This indicates that WAXP's positioning is not limited to on-chain transactions: the model seeks to connect NFT-trading use cases with DeFi liquidity on another chain through cross-chain connectivity. Bridging is an asset-transfer process, so users should still verify the supported scope of the bridge, wallet, and asset version they use beforehand.

Question 7

How can WAXP's network uses affect its market performance?

Accepted Answer

WAXP's value and price are not determined directly by any single function. NFT trading, dApp use, staking, or cross-chain use may change demand for using WAXP, but price also depends on tradable supply, market liquidity, participant expectations, and overall market conditions; increased network activity itself does not mean the price must rise.

Question 8

What asset and network information should be confirmed before using WAXP?

Accepted Answer

When confirming an asset, distinguish native WAXP on the WAX mainnet from other contract tokens on WAX, and verify that the wallet, application, or service in use explicitly supports the WAX mainnet. Before a transfer or interaction, also verify the receiving network and asset identifier; treating assets from other chains or contract tokens as native WAXP may prevent them from being used as intended.

Question 9

How are WAXP staking, block production, and governance connected?

Accepted Answer

Block production, consensus participation, and governance are related but distinct components: staking supports participation in network security and block-production-related mechanisms by locking WAXP; governance influences decisions involving block producers, validators, and protocol changes through voting or delegation. Being able to stake does not mean governance participation has already occurred, and the specific procedures and eligibility for each must be confirmed under the rules at the time.

Question 10

How does WAXP differ from NFTs or game assets on WAX?

Accepted Answer

Within the WAX ecosystem, WAXP can be used for transaction fees, digital-asset trading, and dApp interactions; these are network- and application-layer use cases. By contrast, the value, rules, and secondary-market liquidity of a particular NFT, game asset, or contract token are determined by its own project, and cannot be assumed to be the same as WAXP merely because it is on WAX.

Question 11

Will participation in WAXP staking or voting definitely earn rewards?

Accepted Answer

WAX officially lists active participation in staking or voting as a situation in which additional WAXP rewards may be available. Rewards are intended to encourage long-term staking and network participation; whether they are available, when they are settled, and how much they are depend on the participation method and applicable rules at the time, so the existence of a reward mechanism cannot be understood as a fixed return.

Question 12

Why distinguish native WAXP, contract tokens, and bridged assets?

Accepted Answer

WAXP is a native asset of the WAX mainnet, contract tokens are issued by independent projects through contracts, and bridged assets also involve cross-chain transfers and asset versions. When handling WAXP, first confirm the asset type, then confirm the supported scope of the network and service being used; this order helps avoid conflating assets with different origins and rules.

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