WAX at a glance.
WAX, the Worldwide Asset eXchange, launched its mainnet in 2019 and is built on the Antelope framework, the open-source codebase that grew out of EOSIO. It is aimed at NFTs, blockchain gaming, and digital collectibles, with a resource model where users stake WAXP for network capacity rather than paying a fee on every transaction. Here is how it works and what it is used for, not the price.
$305,209
Value locked in DeFi protocols on WAX. Updated Jun 8, 2026. Source: DefiLlama.
WAXP
Used for fees and securing the network. See the live WAXP price.
How WAX works.
WAXP holders vote for block producers, known as guilds, who take turns producing blocks roughly every half second. The producers with the most staked votes earn the right to validate transactions and secure the network. WAX has also adopted the Savanna consensus algorithm from Antelope, which adds a finality layer so confirmed blocks reach an irreversible state faster than under the original last-irreversible-block model.
WAXP holders vote for block producers, known as guilds, who take turns producing blocks roughly every half second. The producers with the most staked votes earn the right to validate transactions and secure the network. WAX has also adopted the Savanna consensus algorithm from Antelope, which adds a finality layer so confirmed blocks reach an irreversible state faster than under the original last-irreversible-block model.
Guilds
Block producers on WAX are called guilds. Token holders vote for them with staked WAXP, and the top-voted guilds take turns producing blocks and maintaining the network.
Resource staking
Instead of paying a fee on every transaction, users stake WAXP to reserve CPU and network bandwidth. Staked tokens can later be unstaked, which keeps routine actions low cost for active accounts.
Account model
WAX uses human-readable account names and an account-based permission system rather than long hexadecimal addresses, which the framework uses to support flexible key management.
NFT standard
WAX has a widely used native NFT standard and tooling for creating, trading, and managing collectibles directly on the base chain.
What WAX is used for.
WAX is used for NFT marketplaces, blockchain games, and digital collectible drops, including licensed collections from established brands.
NFTs and collectibles
Creators mint, sell, and trade digital collectibles using the chain native NFT standard and marketplace tooling.
Blockchain gaming
Games use WAX for in-game items and assets, taking advantage of fast blocks and resource staking that avoids a fee on each action.
Voting and staking
WAXP holders stake and vote for guilds to help secure the network and take part in governance.
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WAX is integrated in Zypto App. Hold WAXP in self-custody, swap it to any supported asset, and use it across Zypto’s features.
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WAX isn’t in Zypto App yet. Post the request to your followers, chains with the most demand get prioritised.
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