WAX (WAXP): What It Is, Uses and Risks

WAX, short for Worldwide Asset eXchange, is a blockchain built for e-commerce applications such as marketplaces, dApps and non-fungible tokens (NFTs). Its native token is WAXP, which launched on 2017-12-19. The network uses Delegated Proof of Stake, where token holders vote for block producers. The project says the chain is fully backward compatible with EOS. It also describes 500 millisecond block times and no fees for customers. Its toolkit includes the WAX Cloud Wallet, single sign-on and OAuth services, a native random number generator service and a developer portal. Most of the activity on the network is tied to games, NFT marketplaces and other consumer-facing apps.

According to the project's own description, WAXP is meant to encourage voting on guilds and proposals, and voting rewards are designed to encourage holders to take part in choosing block producers. Secondary write-ups describe the token as used for fees, staking and governance within the ecosystem. The project's framing emphasizes that customers do not pay fees, so the exact role of the token in transaction costs should be checked against current network documentation rather than assumed. In practice, the token's main use is inside the WAX ecosystem, where it connects to games, NFT trading and governance votes. Holding it does not guarantee any particular benefit, and the usefulness of any token depends on how much real activity its network sees.

The figures below are approximate values as of 2026-11-05 from the data available for this page. WAXP traded at about $0.0042, giving a market capitalization of about $19.5 million and a rank of 862 among tracked tokens. Trading volume over 24 hours was about $655,000. Circulating and total supply are both about 4.70 billion WAXP, and no maximum supply is listed. The price was down about 9% over seven days and about 58% over one year. The all-time high was $2.77 on 2018-01-08, and the all-time low was about $0.00348 on 2026-08-18. These numbers change constantly, and they describe past and current trading, not what the price will do next.

WAXP is the native token of the WAX blockchain. The same token is also issued on Ethereum, so some holders may see it as a token contract on that network rather than on WAX itself. Moving tokens between the two networks depends on bridges or other transfer tools, and each one adds its own technical and security considerations. Before sending funds, confirm the network you are using matches the network of the wallet or exchange you are sending to. Sending WAXP on the wrong network can result in lost funds that are hard or impossible to recover.

Crypto tokens tied to games and NFTs can be highly volatile, and WAXP has fallen sharply over the past year. Trading volume is modest compared with larger tokens, which can make prices move more on relatively small orders. Demand for the token depends heavily on activity in a small set of apps and games, so a decline in those can weigh on the price. Smart contracts, bridges and dApps can contain bugs or be exploited, and scammers often create fake tokens or impersonate support staff. To store WAXP, many people use a wallet they control with a seed phrase kept offline, while others rely on a regulated exchange. Either choice has trade-offs in control and risk. This page is informational only and is not financial advice.