WAX Blockchain Announces Ethereum Virtual Machine and Ethereum Bridge Development and 100 Million WAX Token Fund for DeFi Innovation

MIAMI--(BUSINESS WIRE)--The Worldwide Asset eXchange™ (WAX), the most used layer-1 blockchain in the world with over 16 million daily transactions and 500,000 daily users, announced two new Ethereum compatibility initiatives following last week’s listing of the WAX token on the Binance, Gate.io, and AOFEX exchanges, expanding accessibility to the token used for the purchase of NFTs on WAX Blockchain marketplaces.

Development has begun on an Ethereum Virtual Machine to be deployed on the WAX Blockchain in the coming months which in conjunction with WAX Labs’ 100 million WAX Token Fund will help bring top DeFi, GameFi and other projects to the chain. This will allow Ethereum smart contracts to be run on the energy efficient, low transaction cost WAX Blockchain.

An Ethereum bridge is now in Alpha and accessible through the WAX Cloud Wallet allowing its six million users to transfer crypto assets between the two blockchains including ERC20 tokens such as ETH, BUSD, USDT, and DAI.

WAX’s blockchain technology has been proven over three years of real world operation conducting up to 8,000 transactions per second while consuming over 100,000x less energy per transaction than Ethereum and is the world’s first certified carbon neutral blockchain.

About WAX

The Worldwide Asset eXchange™ (WAX), aka the King of NFTs, is the world’s #1 blockchain, as measured by number of users and transactions, according to Dappradar.com. WAX’s mission is to bring NFTs to the mass market in the safest, most secure, environmentally friendly, and easy-to-use marketplace in the world. WAX is also the leading entertainment NFT network — in 2018, WAX introduced vIRLs®, giving consumer product companies the ability to directly link NFTs to physical consumer products. Co-founded in 2017 by William E. Quigley and Jonathan Yantis, WAX has facilitated the trade of more than 100 million digital collectables including Major League Baseball (via Topps MLB collectables), Capcom’s “Street Fighter,” and world-renowned entertainers Deadmau5 and Weezer. For more information, please visit https://wax.io and follow along on Twitter and Discord.