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WAX Solving Voter Apathy Problem Plaguing DPoS-Based Blockchains by Incentivizing Voting

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Worldwide Asset eXchange (WAX), the world’s first protocol blockchain purpose-built for e-commerce, today announced its WAX Block Rewards and Genesis Block Member programs. These programs reward WAX Token holders daily with additional tokens by incentivizing them to:

  • Vote on block producers (called WAX Guilds) and blockchain improvement proposals. These rewards are called Staking Baseline Rewards.
  • Remain long-term participants of the WAX ecosystem. These rewards are called Genesis Block Member rewards.

For blockchains that use Delegated Proof of Stake (DPoS) as its consensus mechanism like WAX, voting is crucial for healthy development. Token holders are incentivized by self-interest to vote in the protocol’s best interest. For example, if token holders were to vote in favor of a proposal that positively affects the protocol it would enhance usability and overall usage. Self-interest will drive the best decisions. The WAX team understood the dire need to incentivize voting after seeing how detrimental voter apathy has been to other DPoS blockchains.

By voting regularly, WAX Token holders contribute to the selection of quality guilds and proposals – supporting the overall health of the WAX Blockchain. WAX is ushering in a new era of blockchain communities that are active and engaged in a chain’s development because they are incentivized with rewards in the form of more tokens, called Staking Baseline Rewards.

Additionally, WAX is incentivizing WAX Token holders to become long-term-oriented community members who take part in the WAX blockchain’s healthy development by offering Genesis Block Member rewards which provide a way to double their token holdings over three years.

Earning more WAX Tokens through rewards:

When the WAX Blockchain mainnet and protocol token are released on June 30, 2019, WAX Token holders will have three ways to earn more WAX Tokens:

Staking Baseline Rewards: WAX Token holders can earn additional WAX Tokens every day with Staking Baseline Rewards, simply by voting for WAX Guild candidates. A set number of WAX Tokens will be allocated each day for Staking Baseline Rewards. The number of tokens that each individual WAX Token holder receives daily depends on their stake weight, relative to other stakers. For example, if a voter’s stake weight amounts to 0.5% of the aggregate stake weight on any given day, the holder will receive 0.5% of the daily Staking Baseline Rewards amount. More information on Staking Baseline Rewards can be found here.

Genesis Block Member (GBM) rewards: Participants of the GBM program will receive daily token rewards for three years, up to double their starting amount. For eligibility, members must participate in the WAX Token Swap that begins on June 30, 2019, where they will receive Genesis WAX Protocol Tokens. Genesis WAX Protocol Tokens will continue to produce GBM rewards every day as long as they remain staked and by leaving them uninterruptedly staked for three years, holders can double their token amount. More information on the GBM program can be found here.

WAX Guild Rewards: The WAX Blockchain is designed with 21 WAX Guilds who earn rewards for producing blocks. These WAX Guild Rewards are granted based on the number of blocks produced by each WAX Guild. 36 standby guilds can also earn a share of WAX Guild Rewards.

“The WAX protocol uses a delegated proof of stake mechanism to validate transactions rapidly and cheaply,” said William Quigley, CEO of WAX. “DPoS is well-suited for high volume industries like e-commerce and virtual item trading, where fast processing time is expected. But DPoS does have a drawback. It depends on a continuous process of voting. Voter apathy is the kryptonite of DPoS. So we’ve designed WAX with multiple incentives to boost voter participation.”

Even more ways to earn WAX Tokens are coming in the future including additional types of WAX Block Rewards, becoming a dApp developer, becoming a Transfer Agent, and the WAX Marketplace program.

WAX Token holders can convert their ERC-20 WAX Tokens to Genesis WAX Protocol Tokens from June 30, 2019 to August 30, 2019. More information about the token swap can be found here.

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Statement from the shareholders of Thames Water

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LONDON, March 28, 2024 /PRNewswire/ — The following statement has been provided on behalf of all of the shareholders of Thames Water:

“Shareholders and Thames Water have been working with the regulator Ofwat for over a year on how to address the complex challenges facing the business. These include both meeting current funding demands and the urgent need for substantial investment to improve performance.

“These discussions led to the submission of a business plan which included the largest ever investment programme by any UK water company – over £18 billion – to improve customer service and environmental standards. To support such unprecedented investment, shareholders committed to supporting a further £3.25 billion of investment on top of the £500 million provided last year, and pledged to take no cash out of the business until a turnaround was delivered. This was a solution which addresses the root cause of Thames Water’s challenges without the need for any taxpayer funding.

“However, after more than a year of negotiations with the regulator, Ofwat has not been prepared to provide the necessary regulatory support for a business plan which ultimately addresses the issues that Thames Water faces. As a result, shareholders are not in a position to provide further funding to Thames Water.

“Shareholders will work constructively with Thames Water, Ofwat and Government on how to address the consequences of Ofwat’s decision.”

For media enquiries: Greenbrook Advisory, [email protected], +44 207 952 2000

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Bitget Research Report Unveils 1.5 Million Daily Active Crypto Traders in Western European

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VICTORIA, Seychelles, March 28, 2024 /PRNewswire/ — Bitget Research, the research arm of the world’s leading cryptocurrency exchange and Web3 company, has released a report analyzing the structure and the current landscape of the cryptocurrency markets of Western Europe. The region showcases characteristics such as large cryptocurrency trading volumes, high DeFi activity levels, a responsible and regulated approach, and relatively lower usage of P2P trading.

Key takeaways:

  • The number of local daily crypto traders ranges from 1.2 million to 1.5 million.
  • Germany and France lead in terms of crypto trading activity.
  • Austria witnessed the fastest growth in crypto traders between December 2022 to December 2023, with a 70% increase in users.
  • Western European users are generally well-educated and risk-conscious in their cryptocurrency investments.
  • The local trading strategy typically involves a combination of contracts and spot trading, and investment in mainstream assets.
  • Regional users demonstrate high participation in decentralized projects, NFTs and Web3 platforms, and active engagement in popular chain ecosystems like Solana.
  • DeFi usage constitutes the majority of cryptocurrency activity in Western Europe, while P2P trading volumes remain notably low.

Western European countries, characterized by developed economies and high general education levels, rank among the regions with the highest cryptocurrency adoption globally. The importance of Western Europe within the cryptocurrency industry continues to grow, as evidenced by the daily trading participation on centralized and decentralized exchanges ranging from 1.2 million to 1.5 million individuals. While Germany and France lead in activity levels, Austria has experienced the most rapid yearly growth in crypto traders, with a remarkable 70% surge in users. Germany closely followed with a 69% increase, while other Western European countries demonstrated slower growth rates ranging between 15% and 20%.

Overall, cryptocurrency activity in Western Europe benefits from a clearer level of compliance compared to other regions with countries like Germany, Switzerland, Belgium, France, Austria, Liechtenstein, Luxembourg, and the Netherlands adhering to the legislative framework established by the European Union for regulating crypto assets.

Centralized Exchanges and Spot Trading Prevail

Upon analyzing local market trends and trading instrument preferences, it was observed that users in Germany, Switzerland, and the Netherlands exhibit a preference for trading futures, whereas the remaining countries lean towards spot trading.

When it comes to trading cryptocurrency, the majority of Western European users demonstrate an inclination towards centralized exchanges, with CEX traffic surpassing DEX by 10 times. Among users opting for decentralized platforms, PancakeSwap and Uniswap emerge as the most popular exchanges. Additionally, Coinbase Wallet, Metamask, Bitget Wallet, and TrustWallet are the most commonly utilized cryptocurrency wallets across the eight countries.

Over the past year, the overall traffic to centralized exchanges from Western European users has shown a significant upward trend, especially in Germany, Switzerland, and Poland. Germany and Switzerland saw a year-over-year increase of more than 50%, with Poland experiencing a growth rate of 145%. However, the growth in France and Belgium was not as pronounced, with Belgium even seeing a 6.8% decline compared to the same period last year.

DeFi usage constitutes the majority of cryptocurrency activity in Western Europe, while P2P trading volumes remain notably low. One reason for the region’s limited adoption of crypto P2P is the prevalent practice of purchasing digital assets using fiat deposits or linked cards. In contrast, regions like South East Asia see P2P transfers as the primary instrument of cryptocurrency trading, given the lesser prevalence of card deposits.

Choice Of Assets And Trending Topics in Western Europe

Among popular sectors and projects, regional users demonstrate high participation in decentralized projects, familiarity with DEX tools and trading, NFTs, and Web3 platforms, and active engagement in popular chain ecosystems like Solana.

In terms of asset choice, emerging cryptocurrencies such as Ordinals, NFTs, RWAs, DePin, Solana ecosystem and meme coins have garnered significant attention among traders across Western Europe since the beginning of the year.

According to Western European market data, the trending topics and coins of choice include significant growth in the Solana ecosystem driven by token launches and airdrops, as well as increased interest in Manta Network and Ondo Finance. Additionally, there is sustained attention on second and third-tier chains such as CRO, FTM, and SUI, suggesting continued engagement despite minimal news or major announcements.

Western European Crypto Trader Behavior

The Bitget research suggests that cryptocurrency participants in the region typically possess a high level of education, exercise caution, and prioritize long-term investments. Additionally, a significant portion of local users actively engage in both online and offline forums, including community Ask Me Anything (AMAs), where they exchange market insights and discuss industry trends. Furthermore, they place a premium on legality and demonstrate a keen interest in adhering to Know Your Customer (KYC) and anti-money laundering (AML) regulations.

In terms of strategy, choice of trading instruments and platforms, Western European traders show conservatism — they carefully examine the market options and once chosen, tend to be loyal users.

Local Market Predictions For 2024

Based on the comprehensive study, Bitget Research foresees the following trends in the Western European market for 2024:

  • Germany and France will remain key hubs of cryptocurrency activity in the region.
  • The interest of Western European users in on-chain solutions, particularly in the category of NFTs, DEXes, and blockchain games, will continue to grow. One-two blockchain projects run by Western European teams will gain the leading position in their sectors.
  • Decentralized exchanges will meet the growing demand for on-chain transactions, while emerging centralized exchanges, offering superior customer service and platform features, may gain new adoption among Western European users.
  • Increased engagement with Solana ecosystem projects will benefit crypto wallets, which offer integration across various blockchain ecosystems.

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 20 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL.

For more information, visit: Website  | Twitter  | Telegram  | LinkedIn  | Discord | Bitget Wallet

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Bybit Powered by SATOS Launches Regulated Digital Asset Platform in the Netherlands

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AMSTERDAM, March 28, 2024 /PRNewswire/ — Bybit, one of the world’s top three crypto exchanges by trading volume, today proudly announces the launch of its regulated digital asset platform –  Bybit.nl in the Netherlands.

This strategic move comes as a result of Bybit’s ongoing commitment to providing top-tier services to users while adhering to regulatory guidelines. Bybit solidified its partnership with SATOS in June 2023, laying the foundation for today’s exciting announcement. Leveraging SATOS’s esteemed reputation and nearly a decade of industry experience, Bybit aims to establish a trustworthy trading environment for Dutch users, offering a diverse range of financial products and trading tools.

Key Benefits for Dutch Users under Bybit Powered by SATOS:

  1. Versatile Platform and Enhanced Trading Tools: The new local regulated platform provides Dutch users with access to a versatile range of financial products, education resources and advanced trading tools, empowering them to trade with ease and efficiency.
  2. Localized Support and Community Engagement: Bybit is committed to providing tailored support to the Dutch crypto community, offering localized assistance and fostering collaboration and innovation through community initiatives.
  3. Gateway to Bybit Web3 Features: Dutch users will gain access to exciting new features of Bybit Web3, including the Web3 Wallet and Airdrop Arcade, enhancing their overall crypto experience in the Web3 community.

Through our partnership with SATOS, Dutch users can effortlessly deposit and withdraw fiat, trade over 300 pairs, and enjoy enhanced security measures for their crypto assets. SATOS, supervised by the Dutch National Bank, guarantees top-notch security and reliability for its users.

“We are thrilled to launch our regulated digital asset platform in the Netherlands, furthering our commitment to serving users while upholding regulatory compliance,” said Ben Zhou, Co-founder and CEO of  Bybit. “Through our partnership with SATOS, we aim to provide Dutch users with a secure and seamless trading experience, backed by industry-leading security measures and unparalleled support.”

 #Bybit #TheCryptoArk

About Bybit Powered by SATOS

In June 2023, Bybit formed a strategic alliance with SATOS, one of the oldest crypto service providers operating in the Netherlands and Belgium since 2013. This partnership is a testament to our commitment to providing the best services to our users in line with regulatory guidelines, and ensuring the delivery of high-quality services to our users.

About Bybit

Bybit is one of the world’s  top three cryptocurrency exchanges by volume with 25 million users. Established in 2018, it offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected] 
For more information, please visit: https://www.bybit.com 
For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

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