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WaxDAO Launches Dynamic Pricing

Escrito el 19-02-2024 por
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A new feature has been launched on waxdao.io — Dynamic Pricing. Let’s talk about what this means.

When we first launched our Esta dirección de correo electrónico está siendo protegida contra los robots de spam. Necesita tener JavaScript habilitado para poder verlo., we wanted to make sure it could always be used for buying our products. Most of our paid tools have a cost of 250 WAX, but users also had the option to pay with 25,000 WAXDAO tokens instead.

This worked out great when 25,000 WAXDAO was worth 100–125 WAX for a while, because users would save money by paying with our utility token. As the WAXDAO token has appreciated in value, it has gotten to the point where it is now cheaper to pay for our tools using WAX instead.

This is something that we don’t want, because it takes away utility from our token and makes it unattractive for our community. Hence, the introduction of dynamic pricing.

How It Works

Our products still have the same WAX cost that they previously had (250 WAX in most cases, or 50 WAX for an ad banner).

However, when paying with WAXDAO tokens, the amount of WAXDAO you spend will depend on the market price. Here’s how we calculate the prices:

First, we figure out how many WAXDAO tokens 250 WAX are worth. Then, we take that number and add a 20% discount to it. So not only is the original problem removed (WAXDAO being unattractive due to the rising price), but on top of that, it now becomes cheaper to pay with WAXDAO, no matter what the price of the token is.

In case that sounds confusing, essentially it will always be cheaper to pay with WAXDAO tokens from now on.

Platform Fee Distribution

While we’re on the topic of tokenomics, we might as well discuss what we do with the fees we collect.

Recently, we made a decision to take 100% of collected fees and split them up between burning WAXDAO tokens and providing more liquidity for the WAXDAO/WAX pair. Not only does this deepen liquidity which is always beneficial, but it also deflates the supply which indirectly gives back to our holders.

Soon, we also plan to incentivize liquidity as well, but the details for this are still being ironed out.

Closing Thoughts

We are always improving, testing and adjusting things at WaxDAO. The best place to stay up to date is in our Telegram channel. If you have any questions or feedback, don’t hesitate to reach out.

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