With all the attention on the Bitcoin price in it’s crazy climb to infinity, it seems all but easy to forget about the alternative currencies; WAVES, however, has seen a great deal of expose during the period with price and volume reaching all-time highs. WAVES, for example, will be doing a presentation on the new Client 1.0 which will feature the all-new DEX (Decentralised Exchange) look as shown below.
With the new DEX interface, we may see a whole lot of new users using the DEX in order to trade. With new gateways being added on a regular basis, this will, of course, bring more users to the platform with different coin communities encouraged to trade their favourite coins.
While the DEX is starting to spread its wings, a good thing can always be better. The WAVES team announced they would be airdropping a new token called LIQUID. Due to a lack of liquidity on the DEX, some investors may find it difficult to liquidate their holdings quickly at the market rate. Furthermore, buying into a token quickly may also be overpriced due to a large spread in the order books. Another problem on the DEX is that tokens can trade with any other token on the DEX, which means some pairs are more liquid than others. For example, liquidating your token into BTC may be the most liquid method, but liquidating into the EURO may not.
This is where the LIQUID token comes in. The LIQUID token’s aim is creating liquidity on all major pairs (BTC, ETH, Fiat pairs and possibly more). In order to get make use of this service, the token issuer must first register, complete KYC/AML procedures prior to the service, then buy the LIQUID tokens off the exchange and then lastly send those LIQUID tokens to a specific address. As soon as the LIQUID tokens are sent, the liquidity process begins; immediately the LIQUID tokens are sold on the market and converted into BTC, ETH and fiat pairs that will be used to provide liquidity for your token. After the contract has expired, the liquid tokens and consequently the other tokens it was converted into will be sent back to the user.
The LIQUID token has a unique structure. The LIQUID token will have a huge airdrop for all WCT holders with 80% of the supply being shared. The other 20% will be available to buy on the DEX. Furthermore, upon sending your tokens to the specific address, 20% of the liquid tokens are burned while 10% is retained as a service fee. The burning process allows investors to speculate on the token due to the supply constantly decreasing.
In other news, WAVES has announced that they will be creating a self-regulatory body to set ICO standards. The body will be based in Switzerland and it will work hand in hand with Deloitte and the ICO Governance Foundation. WAVES CEO Sasha Ivanov states,
“Regulation is clearly an emerging phenomenon and concern in the crypto space. If certain jurisdictions have not yet announced their intentions, then it’s only a matter of time. Waves has always been clear that regulation — the right kind of regulation — is a good thing for the crypto space. We have also been clear that we want to be a part of that emerging dialogue. We want a seat at the table to be able to shape the future of regulation in the ICO and blockchain space”
The body will “provide reporting, legal, tax & accounting, KYC and business due diligence standards for ICOs and blockchain industry”. With governments still unsure over the ICO phenomenon, a market regulatory body may set a global standard in ICOs and may even warm governments into the idea of safe ICOs. As we know, regulation is just around the corner and it pivotal that the cryptocurrency community is ahead of the curve before governments even decide on what to do with the ICO phenomena. Currently supporting the body is Deloitte CIS, the ICO Governance Foundation and the Etherium Competencies Centre. For more information on, click here.
It was also announced that there will be hard fork that will change the WAVES protocol to WAVES-NG. The fork is scheduled for December 22nd, a nice Christmas treat for WAVES investors. WAVES-NG will make WAVES the fastest implemented blockchain in the world. This comes at a great time as the WAVES blockchain is currently struggling with the heavy transaction blot of the blockchain at present. WAVES-NG is estimated to allow 100 transactions a second.
Last but not least, TMT investments have partnered with WAVES to set up a crypto investment fund. TMT investments is an LSE listed company. The fund, named TMT Crypto Fund will be available to American investors and it plans to run an ICO around March next year.
With the positive atmosphere surrounding WAVES at present, it is not a surprise that Sasha Ivanov received the RBC award for best startup entrepreneur of 2017. With the WAVES Client 1.0 presentation tonight, we may even hear about even more good news from the WAVES team. Be sure to watch the live stream.