WEX, or Wault EXchange Token, is the foundational token of WaultSwap, which will have the right of governance for the AMM, along with participating in all future utility integrations.
On WaultSwap, trading fees are 0.20%. 0.18% will go to liquidity providers and 0.02% will go to daily buyback and burn of WEX. This creates deflationary pressure and pushes prices up!
The tokenomics of WEX are the following:
750,000,000 WEX – Total Initial Supply. Currently 1,355 new WEX are emitted per block.
250,000,000 WEX – Airdrop to old WAULT Token Holders
250,000,000 WEX – Marketing
125,000,000 WEX / 250 BNB – Initial PancakeSwap Liquidity
125,000,000 WEX / 250BNB – Initial WaultSwap Liquidity
The current WEX emissions are divided by all the pools with various allocation points. The emission rate is reduced by 2.5% weekly. Further adjustments to emissions and burn rate are determined by the development team and community input. When governance is live, token features will be decided by vote. 15% of emissions go to the dev fund to cover R&D and ongoing operational expenses.
As you can see above, old WAULT token stakers have the privilege to receive this free airdrop. In this way, WAULTx will remain as the core governance token of the overarching protocol, continuing to provide utility through its unique features. Meanwhile, WAULTx stakers will gain immediate participation in WEX through the airdrop.
A snapshot on Sunday, April 18th, 2021 was taken to determine how many tokens each investor was staking in our vaults. Below is how the 250,000,000 WEX tokens have been distributed:
120,000,000 WEX – 30-Days Lockup WAULT/BNB Staking Pool
120,000,000 WEX – 30-days Lockup single-asset WAULT Staking Pool
10,000,000 WEX – 7-days Lockup single-asset WAULT Staking Pool
The amount of WEX each wallet received was allocated, in proportion, to its number of old WAULT tokens staked relative to the total amount of WAULT, in each pool. So the more WAULT a user locked up, the more WEX he received.
30% of the WEX supply was airdropped on launch and then 10% weekly for 7 weeks. So users can think of it as the gift that keeps on giving!
There is no fee to use WEX, whether it’s for depositing, withdrawing or staking!
WaultSwap does have a swap fee of 0.20% for any token swapped.
WaultSwap charges a .20% trading fee. Of this fee, .02% is used to buyback and burn WEX! So the more volume WaultSwap has, the more WEX bought and burned.