What Is Waves (WAVES) and How Does It Work?
Waves (WAVES) is a decentralized, open-source blockchain platform designed to make it easy for anyone to create custom tokens, build dApps, and launch Web3 applications. Launched in 2016, Waves focuses on simplicity and accessibility, allowing users and developers to issue tokens without coding and deploy on-chain applications with minimal friction. Its smart contract framework is optimized for fast execution, low fees, and high reliability.
Waves uses a modified
Proof-of-Stake model called Leased Proof of Stake (LPoS), where holders can either stake or “lease” their WAVES to network nodes to help secure the blockchain and earn rewards. This approach keeps the network energy-efficient while maintaining decentralization and security. With the Waves-NG protocol, the chain processes transactions quickly, supporting high throughput and near-instant settlement.
The Waves ecosystem includes tools for token issuance, a
decentralized exchange, native oracle support, and development frameworks for building DeFi,
gaming, and Web3 applications. Over the years, the project has expanded to include interoperability features, stable assets, and on-chain governance, making Waves a versatile blockchain for developers, users, and creators looking to deploy fast, scalable applications with ease.
When Did Waves Blockchain Launch?
Waves launched in June 2016 after one of the early major blockchain crowdfunding campaigns, raising over $16 million. The project was founded by Sasha Ivanov, a physicist and entrepreneur who aimed to create a user-friendly blockchain where anyone could issue tokens and build decentralized applications without complex coding.
Since its launch, Waves has evolved from a token-issuance platform into a full Web3 ecosystem featuring smart contracts, a decentralized exchange, interoperability tools, and high-performance blockchain infrastructure powered by its Leased Proof-of-Stake (LPoS) consensus.
Waves Roadmap Highlights
• 2016: Mainnet launch, custom token creation, decentralized exchange, Waves DEX, introduced
• 2017–2018: Launch of Waves-NG for high throughput, smart contracts activation
• 2019–2020: Ecosystem expansion with DeFi tools, oracles, and stable assets
• 2021–2022: Interoperability upgrades, bridges, and cross-chain integrations
• 2023–2025: Focus on scalability, improved developer tooling, ecosystem governance upgrades, and enhanced Web3 application support
What Is the WAVES Token Utility?
The WAVES token is the native asset of the Waves blockchain and plays a central role in network security, governance, and ecosystem operations. WAVES is used to pay for transaction fees, deploy smart contracts, and create or transfer custom tokens on the network.
Holders can also participate in Leased Proof-of-Stake (LPoS) by staking or leasing their WAVES to validator nodes to help secure the blockchain and earn staking rewards. Additionally, WAVES supports governance proposals, liquidity incentives across Waves-based DeFi protocols, and serves as a primary asset within the ecosystem’s decentralized applications and exchanges.
You can trade WAVES on the
BingX Spot Market by simply
depositing USDT and opening the
WAVES/USDT trading pair. BingX provides real-time price charts, low fees, and fast execution, allowing you to buy or sell WAVES instantly from your Spot account.
What Is Waves Tokenomics?
Waves Tokenomics are designed to support a long-term, sustainable ecosystem built around staking, low-cost transactions, and decentralized application growth. WAVES has a fixed maximum supply of 100 million tokens, making it a non-inflationary asset. This capped supply ensures scarcity while keeping economic activity predictable for users, developers, and stakers.
The network operates on Leased Proof-of-Stake (LPoS), where token holders can stake or lease their WAVES to validator nodes to earn rewards. Instead of minting new WAVES, validators are compensated through transaction fees generated by on-chain activity. This model aligns incentives between network users and node operators while preventing dilution of the circulating supply.
Most on-chain operations, such as transferring assets, creating tokens, deploying smart contracts, or interacting with dApps, require WAVES as the base fee asset. As the ecosystem grows, demand for WAVES scales naturally with increased activity across the Waves DEX, DeFi protocols, NFT platforms, and Web3 applications built on the network.
How to Stake WAVES Tokens on Waves Network
Staking WAVES works through the Leased Proof-of-Stake (LPoS) system, where you lease your tokens to a validator node instead of locking them in a traditional staking contract. This allows you to earn a share of block rewards and transaction fees while keeping full ownership of your WAVES.
1. Download and set up a Waves-compatible wallet Use wallets like Waves.Exchange, WX Network, or other supported wallets that allow WAVES leasing. Create your account, secure your seed phrase, and deposit WAVES.
2. Choose a validator node: Browse the list of trusted Waves nodes within the wallet interface or through Waves community directories. Compare their fees, payout frequency, and performance before selecting a node.
3. Lease your WAVES: In your wallet dashboard, go to the Leasing or Stake/Lease section. Enter the validator’s address and the amount of WAVES you want to lease, then confirm the transaction.
4. Earn staking rewards: Once leased, your WAVES contribute to the node’s staking power. You’ll receive rewards periodically (usually weekly or daily), depending on the node’s payout policy.
5. Unlease anytime: You can cancel the lease at any moment. After the standard unlease period (usually a few days), your WAVES will be fully available again in your wallet.
How Does Waves Differ From Other Blockchains?
Waves differs from other blockchains by focusing on simplicity, speed, and accessibility, allowing anyone to create custom tokens or deploy applications without deep technical knowledge. Its built-in tools, like the Waves DEX, oracle framework, and token issuance system, offer an all-in-one environment that reduces the need for external smart contract development. With low fees, fast settlement through the Waves-NG protocol, and an eco-friendly Leased Proof-of-Stake (LPoS) consensus, Waves is designed for high throughput and everyday Web3 use.
Unlike many
Layer-1 blockchains that rely on complex virtual machines, Waves uses a streamlined scripting model that prioritizes safety and predictable execution. This makes it attractive for developers who want to build scalable DeFi, gaming, and enterprise solutions with minimal risk and simpler tooling. Waves also emphasizes interoperability and decentralized governance, positioning itself as a flexible ecosystem that can evolve without sacrificing performance or decentralization.
Which Wallets Store WAVES Tokens?
The easiest and most secure way to store your WAVES tokens is by keeping them in your BingX Spot Wallet. When you buy WAVES on BingX, your tokens are automatically stored in your exchange wallet with bank-grade security, multi-layer encryption, and real-time monitoring. This option is ideal if you trade frequently or want fast access to buy, sell, or transfer WAVES without managing a private wallet or seed phrase.
For users who prefer self-custody, WAVES can also be stored in
non-custodial wallets such as Waves.Exchange (WX Network), Waves Keeper, and other Web3 wallets supported by the Waves ecosystem. These wallets give you full control of your private keys and allow you to stake (lease) WAVES, interact with DeFi platforms, and issue custom tokens. They’re suitable for long-term holders and developers who want to use advanced on-chain features directly from their own devices.
Is Waves (WAVES) a Good Investment?
Waves (WAVES) can be seen as a good investment for users who want exposure to a mature, utility-driven blockchain with a strong focus on speed, low fees, and accessible Web3 development. Its fixed supply of 100 million tokens creates built-in scarcity, while the Leased Proof-of-Stake (LPoS) model offers passive income opportunities through staking without giving up token ownership.
Waves continues to support a broad ecosystem of DeFi apps, tokenized assets, NFTs, and enterprise solutions, making demand for WAVES closely tied to real on-chain activity. With ongoing upgrades to improve scalability, interoperability, and developer tools, Waves remains a long-standing, user-friendly blockchain with growth potential as Web3 adoption expands.