Waves Platform - Crypto Academy S5W7 - Homework Post for @imagen

QUESTION 1:

ANSWER 1:

Leased proof of stake is a upgraded version of the proof of stake consensus algorithm that is used over waves platform which permits it's user to lease the tokens to to it's full node and earn a small percentage of the payouts as a reward. On the normal version proof of stake ecosystem, every node is capable of ability to add new block the the blockchain. In the Leased proof of stake ecosystem, users pick in between running a full node or leasing it's tokens over a full node so that he can earn rewards.

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Over the waves ecosystem proof of stake, node operation will use mining power of some other miner to mine new blocks without the necessity to send WAVES token, it means the tokens aren't removed from the wallet of the leaser's, There is a minimum requirement to be able to operate a node that is 1000 waves, then rewards are given to the leader as many transactions are made on the network.

Leased Proof of Stake	Proof of Stake
The Leased proof of stake consensus algorithm allows it's user to lend tokens to mine node.	In the traditional proof of stake user mine the node with their token.
In LPoS the number of tokens doesn't matter they can contribute their tokens to a validator who will do mining on Behalf of their share.	In Proof of stake there is a minimum requirement of tokens to be able to be the part of mining reward.
In LPoS the rewards are distributed among the miners and the users who leased their tokens.	In PoS the miner rewarded with the entire reward for this node.

QUESTION 2:

ANSWER 2:

Let's explore the functionalities of the waves exchange by goin on the link Waves Exchange, On the top menu bar we can see there are 4 tab that are the the highlights of the website let's explore them one by one:

• Buy Crypto Option

The buy Crypto Option offers us the feature of buying the USDN token with our real world money ( bank cards ) or with AdvCash Wallet, with this feature we can purchase either stable coins or other crypto currency like WAVES, EGG etc.

• Trading Option

• Spot Trading

Here we can trade our tokens or in simple words we can exchange our token with various tokens.

• Swap Trading

Here we can directly swap our cryptocurrencies just like we do on pancake swap without creating a limit order.

• Pools

• Liquidity Pools

This option provide us the feature for the WAVES holders to stake their tokens and then their tokens get freezed and they will get rewarded for this, this also enable the user to vote and governance on the platform. This also enable the option for the user to participate in the IDO and early bird program.

• Investment

The investment option enables a user the access to invest in different investment liquidity pools, Lambo, Algorithms trading, LP staking, Neutrino Staking, WAVES staking, etc. where user can invest and can generate higher returns on their investments.

• Wallet

The wallet option shows us our holding over the waves exchange wallet and also enables us the feature to withdraw and deposit tokens from different exchanges and network.

QUESTION 3:

ANSWER 3:

For this demonstration i am using the exchange called HotBit, Let's begin with the process, Here we are converting our USDT to WAVES.

• Step 1: Here, in the spot wallet we can see that we currently have 23.8 USDT and to convert then we will click on the market tab.

• Step 2: Here we search for WAVES token and if we hover our mouse pointer over waves token we can see it's available trading pair, and then we will choose the pair called WAVES/USDT.
  

  
  
  

• Step 3: Here we will be able to see the waves market and we can see the order page and we will place the limit buy order.
  

  
  
  

• Step 4: Click the confirm button by verifying the details.
  

  
  
  

• Step 5: Once our limit order et fullfilled we can see the order details in the order history.
  

  
  
  

• Step 6: Once the order get executed we can see our WAVES token in our exchange wallet.
  

  
  
  

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Let's see how we can transfer our asset to the waves.exchange.

• Step 1: First of all we need to create an account on the waves platform, for that we need to click on login and then we are selecting email as a sign up option.

• Step 2: Enter all the required details to create an account, and then click account and after that enter the OTP sended to our email address.
  

  
  
  

• Step 3: Once our registration get done no we can click the login button to be able to use the features of waves exchange.
  

  
  
  

• Step 4: Enter the details to login and click the login button.
  

  
  
  

• Step 5: Click the wallet button and then click the deposit and withdraw button.
  

  
  
  

• Step 6: Select the asset called waves and also select the waves network and copy the deposit address of waves token.
  

  
  
  

• Step 7: Now go to your exchange wallet where we are holing our WAVES token and click the withdraw button.
  

  
  
  

• Step 8: Here we can see the withdraw page and we need to enter the deposit address we copied from the Waves.exchange into the withdraw address and amount of tokens we need to withdraw.
  

  
  
  

QUESTION 4:

ANSWER 4:

WX token is the native token for WAVES ecosystem, the token is essential for for the investments in waves.exchange like liquidity pools, etc. . These tokens will get freezed as per the smart contracts and then they are released as per the small and progressive release rates, and some part will get burned, as per being the users who take the part in governance, will be able to decide the percentage of token to be released and to be burned.

As we know the WX token is the native token of the ecosystem so it has several functions that are as follows:

• We can use our WX token in liquidity pool.
• We can pay commercial rates at a preferential rate using WX tokens.
• This token can be used for trading.
• We can lock our WX token for a smart contract for 3 weeks to 4 years for GWX tokens as a reward. Which is used as a measurement for momentum and voting power and by which we can also earn reward in form of WX token.

At the time of writing the post the current value of the token in USD is : $ 15.05 and the Current Market Capital is : $ 1,611,838,137.

QUESTION 5:

ANSWER 5:

Waves duck is an play to earn platform where it's user can play games and can earn tokens. Here users can earn ducks and with those ducks users can make a many different types of things in the game, can collect eggs, hatch the, we can reproduce the eggs using two ducks, farm to generate dividends or also we can also interact between fights.

Waves duck also work with the smart contracts available, which allows to verify the authenticity of the NFT.

The native currency of the Waves duck game is EGG, let's see it over the coinmarketcap website.