WX Network

WX Network (Formerly Waves.Exchange): A Decentralized Trading Platform

WX Network, originally known as Waves.Exchange, is a decentralized cryptocurrency exchange (DEX) established in 2017. It operates on the Waves blockchain and emphasizes non-custodial trading, meaning users always control their funds.

Key Features:

• Decentralized (DEX): Operates without a central authority, with trades executed via smart contracts on the Waves blockchain.
• Waves Ecosystem: Deeply integrated with the Waves blockchain, supporting Waves-based assets and utilizing the WAVES token for network operations. It also has its own WX token for staking and governance.
• Asset Variety: Offers trading pairs for major cryptocurrencies (BTC, ETH, USDT, LTC) plus thousands of tokens issued on the Waves protocol.
• Investment Products: Provides staking pools, liquidity provision, and lending opportunities.
• No KYC: Generally, no Know Your Customer (KYC) procedures are required, common for DEXs.

Current Status & Security:

• Active Platform: WX Network is an active DEX with ongoing trading, though reported volumes can vary based on data tracking.
• Security Model: Relies on the security of the Waves blockchain, multi-signature cold storage, and its smart contract architecture. Users maintain self-custody.
• No Major Centralized Hacks: As a DEX, it avoids the typical centralized exchange hacks, but smart contract risks inherent to all DEXs still apply.

Summary:

WX Network (formerly Waves.Exchange) is an active decentralized exchange (DEX) within the Waves ecosystem. It's known for its non-custodial approach, broad asset support, and DeFi offerings. Users benefit from direct control over their funds but should be aware of the inherent risks of smart contracts and personal key management common to all DEXs.