WAX Introduces the Biggest Worker Proposal Fund in the History of Blockchain
More Than 75 Million WAX Tokens, Worth Millions of Dollars, Are Now Available for Developers Who Grow the WAX Blockchain Through Decentralization and Innovation Over Many Years
Worldwide Asset eXchange introduced WAX Labs, a worker proposal system designed to grow the WAXBlockchain through decentralization and innovation. There are presently more than 75 million WAX tokens worth millions of dollars in the WAX Labs fund, which is allocated towards compensating developers who build upon the WAXBlockchain over many years, making WAX Labs the largest community-owned worker proposal system in the entire blockchain ecosystem.
With such a well funded worker proposal system, WAX hopes to build the most extensive network of blockchain developers in the world.
Candidates can submit their projects for consideration, and WAX Token holders can vote on them, here.
WAX Labs incentivizes developers to build new projects on WAX, work on community needs, patches, and upgrades. In exchange for their time and effort contributing to the development of WAX, these developers will be eligible to receive WAX Tokens from the WAX Labs fund, which will provide support for WAX development efforts for many years to come.
Projects that will have a clear positive and measurable impact on the WAX ecosystem are eligible to be funded. If you request more funds for your project than the Reviewers and voters feel is appropriate for the project’s anticipated value to the WAX ecosystem, the project may not be approved (but is eligible for resubmission). Projects will not be approved if they are functions of another role in the WAX ecosystem that also earns WAX Tokens (ie: WAX Guild functions).
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Through WAX Labs, the WAX Community benefits from a decentralized structure by reducing the reliance on a single source for new additions. This system is beneficial for everyone including:
- The developers who are compensated for their efforts
- The community for having access to additional resources
- The WAX organization, which can leverage the creativity of the community to advance projects
WAX Token holders: please be advised that voting for WAX Labs projects does not affect your vote strength or stake weight.
How to submit a project to WAX Labs:
- To submit a project for consideration, visit the WAX Labs portal here. Complete a candidate profile, then submit your project.
- Reviewers, selected by a committee which is selected by the WAXGuilds, will assess your project. If the Reviewers approve your project, it will be put forth to the WAX Community who has 30 days to vote on whether to accept or reject it.
- For your project to be accepted, 35% of the entire amount of WAXTokens that are staked must be voted towards your project (ie: if there are 1 million total WAX Tokens staked, then 350,000 of those must be voted towards your project).
- If your project is accepted, you will receive payments of WAXTokens in order to fund your project in accordance with the schedule you requested during the submission process.
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