Waves (WAVES) and cryptocurrency, it’s been 6 years already

Waves Exchange is a platform using a multifunctional approach, which includes various financial activities in the blockchain sector. When it was created in 2016, a first ICO was launched, accompanied by a fundraising of 76 million dollars. Currently, Waves has a large community with around 1.5 million registered wallets. On April 2, the price of the WAVES token touched its ATH of $50. The ecosystem enters this important date with solid experience and unfailing confidence.

The Waves project announces its sixth year

Waves is several offers and projects

The platform incorporates a decentralized exchange-based community that stands out from other platforms. In 2018, Waves implemented a smart contract on its mainnet that enabled the creation of decentralized applications (DApps). The Metamask wallet meanwhile should be added soon.

Over time, Waves has become an ecosystem that now encompasses different projects and products. The end of 2019 was marked by the launch of the stablecoin protocol Neutrino as well as its algorithm of stablecoin USDN. Recently, the stablecoin saw a drop below $1, however TVL (Total Value Locked) exceeds $600 million.

Later, Waves Enterprise launched an entity specifically designed for institutions. The exchange platform still holds an important place within the ecosystem. By the way, its crypto wallet has seen huge progress. In addition, thanks to the creation of its own token WAVES, investment products, the alternative of trading as well as the many connection possibilities.

An innovative and evolving course

In 2020, Waves Exchange launches DeFo, the decentralized Forex. At the heart of the innovation is a system that combines the stability of the main elements of traditional markets with those of decentralized markets, in particular the staking.

The year 2020 also marked the establishment of Swop.fi, an AMM (Automated Market Maker), an automated market maker, which brings together different types of liquidity pools with various price management algorithms.

In 2021, the platform also launched different games. Examples include Waves Ducks, combining yield-oriented farming and the collectible item mechanic of NFTs. Within a year, Waves Duck went from NFT collectible game to Waves Duck Metaverse. A platform powered by the EGG token, bringing together tens of thousands of users. Later 3D racing game Metarace launched in Waves Duck Metaverse with IDO fetched $1 million.

In the summer of 2021, the Waves ecosystem added the Lending Protocol to its system. The launch of Vires Finance is seen as the missing piece of the puzzle. It is a decentralized non-custodial liquidity protocol. This offers users wallets as well as dApps to have the possibility of depositing or borrowing cryptocurrencies. If that summer the TVL of Waves represented 1 billion dollars, it currently reaches 2.2 billion dollars.

Conclusion

In addition to the projects stated previously, the Waves ecosystem is much broader and hosts other promising projects designed on the blockchain by the community. This year, Waves Exchange will focus on decentralization. It has already added a new liquidity pool and enabled voting for token verification. Users who have staked their WX tokens, can now participate in decision-making on the development of the exchange. WX is none other than the token of the decentralized exchange. The launch of decentralized gateways and derivatives trading are planned for the end of the year.

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Emile Stantina

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Waves (WAVES) and cryptocurrency, it’s been 6 years already


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