sWAX

When users stake WAX into the protocol, they will receive sWAX by default.

sWAX is a non-transferable token that is held in the dapp.fusion smart contract, and issued at a 1:1 ratio based on the amount of WAX staked by the user.

Holding sWAX allows users to earn staking rewards from the protocol, via a claimable WAX balance. Rewards accrue every second, and will remain available for claiming regardless of how long you wait.

When claiming sWAX staking rewards, there are 3 options.

• Claim native WAX tokens

• Compound your sWAX by claiming more sWAX

• Claim lsWAX, which is issued based on the current ratio of WAX:lsWAX

sWAX rewards do not autocompound.

If users ever want to convert their sWAX back into native WAX tokens, they have 3 options:

• Liquify their tokens instantly and sell on the open market (amount of WAX received is subject to market conditions)

• Instant redemption through WaxFusion (has a 0.05% fee and is subject to availability based on how much WAX is in the instant redemption pool)

• Submit a withdrawal request through WaxFusion, which is free and can take anywhere from 1-21 days. sWAX withdrawals done directly through WaxFusion will be converted at a 1:1 ratio.