1 month ago
8
WPAY is the native governance token for Wirex Pay, a decentralized payment network. It gives users the ability to participate in decision-making and rewards them for staking their tokens. Wirex Pay aims to create a user-driven ecosystem, with WPAY at its core. While Wirex uses WXT for its traditional services, WPAY is focused on governance and incentivizing users within the Wirex Pay blockchain network.
Source: https://www.zepto.com.au/blog/wpay-partners-with-zepto-for-payto/Wirex vs. Wirex Pay
Wirex and Wirex Pay have different purposes.
- Wirex offers traditional financial services, such as crypto debit cards and fiat-to-crypto exchanges.
- Wirex Pay, however, is built on blockchain and focuses on decentralized payment systems.
WPAY powers Wirex Pay, while WXT supports Wirex’s traditional services.
How WPAY Tokenomics Work
WPAY’s tokenomics are designed to keep Wirex Pay sustainable and rewarding for users. Below is a summary of WPAY distribution:
Category | Allocation | Details |
Node Operators | 20% (2B WPAY) | 2-month lock-up, released gradually over 60 months to support the network. |
Team Allocation | 20% (2B WPAY) | 12-month lock-up, then released over 36 months. |
Point-based Airdrops | 5% (500M WPAY) | For early users, 3-month lock-up, released over 9 months. |
Staking Rewards | 12.86% (1.29B WPAY) | Locked for 6 months, released over 60 months to promote long-term stability. |
Liquidity & Market-making | 4% (400M WPAY) | Ensures exchange liquidity, locked for 7 months, released over 24 months. |
Treasury Allocation | 38.14% (3.81B WPAY) | Supports future projects and growth. Released gradually over 67 months. |
WPAY vs. WXT
The Wirex ecosystem includes two main tokens: WPAY and WXT.
- WPAY: Powers governance and rewards in the Wirex Pay network.
- WXT: Used for traditional Wirex services, like debit cards and exchanges.
WPAY Roadmap and Future Plans
Wirex Pay launched its mainnet on August 28, 2024, enabling full operation, including staking and governance. Future plans for WPAY include:
- Governance Token Launch: Already in place, users can vote on proposals such as network upgrades.
- Partnership Expansions: Plans to collaborate with more web3 projects to increase WPAY’s utility.
- New Staking Options: Flexible staking periods will attract different types of holders.
- Wirex Pay DApp Enhancements: Improvements like a better user interface and new DeFi features are on the way.
Why WPAY Matters
WPAY is more than just a token. It is central to Wirex Pay’s decentralized ecosystem. By using WPAY, users gain governance power and are rewarded for their contributions, making it an essential part of the network’s future growth.
Always prioritize safety when dealing with decentralized ecosystems and crypto tokens.
October 9, 2024 at 6:00 pm
Updated October 9, 2024 at 6:00 pm
Remember, investing in cryptocurrencies involves risks, and it’s important to conduct thorough research and seek professional advice before making any financial decisions. (Please keep in mind that this post is solely for informative purposes and should not be construed as financial or investment advice.)
What is cryptocurrency?
Cryptocurrency is a digital form of currency secured by cryptography, not controlled by governments or banks.
What are cryptocurrency wallets?
Cryptocurrency wallets are digital tools for storing and managing your crypto assets.
What are the best practices to invest in cryptocurrencies?
Best practices for crypto investment include research, diversification, investing what you can afford to lose, and avoiding hype-driven investments.
English (US) · 