WAX Cloud Wallet Account Creation Flow Update

WAX Cloud Wallet Account Creation Flow Update

As we dive headfirst into 2022, we’re committed to streamlining the WAX Blockchain and innovating in ways that will benefit every single current and future WAX Cloud Wallet holder.

Our 2022 includes launching game-changing creative projects (hello Blockchain Brawlers… and more top-secret projects soon to be announced!!), connecting on a deeper level with our community and growing our reach substantially — while supporting developers bringing new projects for everyone to enjoy.

It also includes making substantial improvements to the WAX Cloud Wallet.

Maximizing the WAX Resource Pool and the Value of Our Blockchain

Unlike Bitcoin and Ethereum, which both allow users to create an unlimited number of accounts for any user and charge large gas fees for any and every transaction, you can think of the WAX infrastructure as a powerful, yet intricate community-driven ecosystem.

We all stake together and offer up resources so that we can all benefit from gas-free transactions — and this fuels innovation.

Creators/developers are provided a robust and supportive ecosystem for birthing new and amazing products for us all to enjoy. And collectors/gamers are provided unlimited opportunities that can literally be life-changing.

Keeping the WAX Cloud Wallet Robust + Powerful

In order to continue positioning the WAX Cloud Wallet as the most robust and powerful wallet on the planet, we’re requiring new account creators to pay an account creation fee of 5 WAXP.

***Update: There are many ways for new accounts to send 5 WAXP:

  1. Via Moonpay, Binance, Kucoin or any other exchange that features WAXP
  2. Any account can send the 5 WAXP to the account creation address with the correct memo.

When this happens it will:

#1 — Help Prepare for WAX’s Play-to-Earn Infrastructure

As many of you already know, WAX is jumping deeper into the play-to-earn market with Blockchain Brawlers and more games to come in 2022. As play-to-earn grows, it’s vital that the WAX Blockchain’s power is maximized. This new account creation process will help prevent botting to keep WAX running smoothly while helping to create a more level playing field for all users to enjoy WAX’s many dApps, games, marketplaces and NFT collections.

#2— Provide New Account Holders with RAM & CPU

Once a new account is officially created, the new account holder will be provided plenty of RAM and CPU to begin collecting NFTs, using dApps, participating in the DeFi economy and more.

Last Words

If you’re already an account holder, carry on as usual. There is nothing you need to do. Also, if you’re a developer growing your user base, there will be account creation solutions available to you so that you can offer free accounts for your growing community.

For those of you soon to create a new account, please let us know if you have any questions via Discord. We’re here to help and make this as seamless as possible!

31, Jan 2022