Waves Platform - Crypto Academy S5W7 - Homework Post for @imagen
![cover.png](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmeMCGzS35iEfBPDbwm9r6VcfRpaBwQoF7Py5Md7wwjs4C/cover.png)
Cover Image - https://www.canva.com/
QUESTION :-
( 1.) Describe the Leased Proof-of-Stake (LPoS) consensus mechanism. What are the differences with Proof-of-Stake (PoS)?
( 2.) Enter and explore Waves.Exchange. Indicate its functionalities or options, what are the investment modalities that you offer to your users? Show Screenshots.
( 3.) Make from your account a purchase of WAVES for an equivalent amount of 10 USD from an available exchange (Binance is not allowed).
(3.1) Describe the process. Display screenshots.
(3.2) Show how the process to transfer the asset to the official Waves platform is carried out. (The demonstration is mandatory but the transfer is not)
( 4.) What is the WX token? What are its functions within the Waves ecosystem? What is its value and Market Capitalization at the time of writing? Show Screenshot.
( 5.) Describe Waves Ducks What does this project consist of? How do I access it? Be as explicit as possible. Show Screenshots.
( 6.) Conclusions.
![](https://steemitimages.com/640x0/https://miro.medium.com/max/1200/1*fS34cvMEDvx6JdqNMd7byg.png)
This is the Source of above image.
👉The Leased Proof-of-Stake (LPoS) consensus mechanism.
Basically, Leased Proof-of-Stake (LPoS) is a newly created reward distributing system within blockchain technology. Here they have arranged a creative system for distributing these rewards for every token holder. Mainly this interesting mechanism is working on the Waves platform which is a fasted blockchain platform.
Here every user can lease their tokens in a bit different method. It means, they have access to lease their staked Waves and rewards for contributing to the network maintenance. In other words, for the mining process. The most interesting thing is that they can get additional rewards by doing this as they can choose between running a full node and at the same time they can lease their stake to create a full node. Let's see how it works in a clear manner.
👉How The Leased Proof-of-Stake Works.
![f1efefe4df754bb5a76b9d4370be5c6e.jpeg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmbraGoeMvt493Kc55o8nmNqWWgm7nNhVcsybv3b2mmTA1/f1efefe4df754bb5a76b9d4370be5c6e.jpeg)
This is the Source of above image.
First of all, we should keep in mind that this LPoS mechanism is directly used on the Waves platform. Because the Waves Project is a major contributor to this mechanism and they prove it by launching its mainnet with LPoS in 2017.
As the first step on the Leased Proof-of-Stake Mechanism in the Waves platform, there should be a party that has invested in the Waves. Then their rewards will directly depend on the amount of their investment. It means, if they have invested a large amount, they will get higher rewards. At the same time, if they have invested a lower amount, they will get lower rewards.
Secondly, above mentioned regular investors or users can lease their Staked Waves to earn additional rewards. Here they have to use some applications which connect to full nodes to interact with the blockchain. It can be defined as a Lite Client application.
👉What are the differences with Proof-of-Stake (PoS)
From the outside, both the Leased Proof-of-Stake (LPoS) and the Proof-of-Stake (PoS) mechanism look like same. But the process of its content is somewhat different. Now let's see how it differs from each other.
![]() | ![]() |
---|---|
All the tokens are allowed to participate in the mining process by leasing their stakes without considering the amount | Only a Higher amount of Token holders are able to participate in the process by verifying and creating new blocks. |
There is an interesting mechanism for leasing token holders' stakes and earning rewards | They can only hold tokens as there is no mechanism for leasing their stakes. |
Leased Proof-of-Stake is an enhanced version as compared to the regular Proof-of-Stake method. | Proof-of-Stake is the first introduced method of that mechanism and it consists of various limitations. |
Leased Proof-of-Stake (LPoS) is a mechanism that works exclusively on the Waves platform. | There is no specific platform as it already works in various platforms such as Avalanche and Elrond. |
![Screenshot_604.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmQ5jz437ioiFyuXTQYNH84bBCPRYS79DsgY67YWi6BzoA/Screenshot_604.jpg)
Screenshot - https://waves.exchange
👉Enter and explore Waves.Exchange.
According to my research, Waves.Exchange is the graphical interface for all the waves investors and as well as other investors to trade their Cryptocurrencies within a unique exchange. It looks like an official wallet for the Waves Holders. Through this application, we can accomplish our transaction easily as it directly connects to its blockchain and it provides a traditional trading interface for us. Now let's enter Waves.Exchange.
We can easily explore this exchange through https://waves.exchange URL. Then, it will then bring us an interface that looks somewhat similar to other crypto exchanges.
As the first step, I will log in to Waves.Exchange. So, as I don't have an account currently, I have to select "Sign UP".
![Screenshot_617.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmQvWnmPUwjDJHzgJMKt9L81FixYDTJHh1w8t6SNwDpMzr/Screenshot_617.jpg)
Screenshot - https://waves.exchange
Then I have 3 options for registering in the waves exchange. (By email, By Ledger or Waves Keeper, and By software. So, here I will choose "by email" as I'm quite comfortable with email.
![Screenshot_618.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmWHPYht1Hj4YLLFRiYeJ7u6GQ4NyFB1qtTNZLDrEeD2Kh/Screenshot_618.jpg)
Screenshot - https://waves.exchange
Finally, we can fill the forum by mentioning our email and desired password. Then, click on "create account".
![Screenshot_619.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmY8HcvnnAQkDXgL2tE9Yr981czRdx2wCnMJrf1N3s8yVN/Screenshot_619.jpg)
Screenshot - https://waves.exchange
After that, we can see the final page that confirms our registration within the platform. As now we have created the account successfully, I can easily login to the exchange.
![Screenshot_620.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmZSsiRPV1CUqk5PdfS5DaHvK779jkvjDfx6XLE2dgxuEe/Screenshot_620.jpg)
Screenshot - https://waves.exchange
Below you can see how I have successfully entered the waves.exchange site. So, next, I will do a clear explanation for all the functions of this platform.
![Screenshot_621.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmdTeawQXiPrazyu4TFv5eXkRYZWJS4jSgdgaX2rHAwHYd/Screenshot_621.jpg)
Screenshot - https://waves.exchange
Here we first look at the four main categories.
- Buy Crypto
- Trading
- Pools
- Investments
- Download
![Screenshot_605.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmSAP5K2UVzhkZ6ZDVvAqPz3PJ5n1YsK5caZsBpYA8mmXh/Screenshot_605.jpg)
Screenshot - https://waves.exchange
We can explore different types of functions through the above-mentioned categories. Let's look at them one by one.
👉Indicate its functionalities or options
- 👉 Buy Crypto
![Screenshot_606.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmaBF71xTs5t5YCNeKMduPeJEGR9ahfx3AnQiwKFRggTuX/Screenshot_606.jpg)
Screenshot - https://waves.exchange
"Buy Crypto" Category mainly consists of 5 different sub-options including Buy USDN, Buy Bitcoin, Buy WAVES, Buy EGG and OTC. The main purpose of this option is to give users the opportunity to purchase cryptocurrency through Credit or Debit Card. Let me now illustrate this with an example.
![Screenshot_607.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmecg2VtPJzVFPQ1Yn7DsMrNiuEP8FvEEiG7vLQxp8BtZe/Screenshot_607.jpg)
Screenshot - https://waves.exchange
Above I have clearly shown a demonstration of buying 990 USDN tokens for 1000 USD. Here the USDN (Neutrino Dollar) can be defined as a Stable coin in the Waves ecosystem which is very similar to our traditional USDT.
- 👉 Trading
![Screenshot_608.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmR2wbuGZ8T3R9jN4VfCVtw32V39Yb5uu9WKgHXdBUL73y/Screenshot_608.jpg)
Screenshot - https://waves.exchange
The "Trading" category is a major part of this Exchange. Through the Trading option, we can exchange our Crypto assets into different crypto assets. This also consists of 3 different sub-options including Spot, Swap - DeFo, and Swap - WAVES / USDN.
![Screenshot_609.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmczz8UAr3J48JUrJ4nu77P93yK4Hyd64ruSAzU7e9wNxK/Screenshot_609.jpg)
Screenshot - https://waves.exchange
The above screenshot shows the interface of the Spot trading window. Here we can directly exchange any desired Crypto assets into other Crypto assets. It looks the same as other Crypto exchanges.
"Swap - DeFo" is another Cryptocurrency exchange Category which is known as Decentralized ForEx. Here they provide the swapping facility for stable assets that are created through their smart contracts.
![Screenshot_610.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmUg6W3EGdvvmozsLVMbuhEwpRyk4tiTSQmX9EiH2s152m/Screenshot_610.jpg)
Screenshot - https://waves.exchange
- 👉 Pools
This is a Liquidity Pool related category which consists of 5 different sub-options including Pools, WX Staking / Boosting, Dashboard, Stats, and Governance.
Here they reward us when we deposit liquidity to the pool. It means, we can deposit our assets to this pool and earn rewards by staking them for a specific period. Here the reward for each type of asset also varies. As an example, if we stake USDT or USDN in the USDT/USDN Pool, we can get a reward up to 12.63% - 37.89% APY. At the same time, if we stake in the WX/USDN Pool, we can get a reward up to 80.04% - 240.14% APY.
![Screenshot_614.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmZpmbUEFTb6BsafjvacoehNPzgzELkmYLtsDMm2jJYEox/Screenshot_614.jpg)
Screenshot - https://waves.exchange
WX Staking / Boosting
![Screenshot_615.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmSVfv6mgNKUvNgWBmXVH5KP2vYUi32SfJLxszzqAL5zMi/Screenshot_615.jpg)
Screenshot - https://waves.exchange
This is another option that belongs to the "Pools" Category. Here they directly let us increase our assets by locking more WX or extending the locking period at a certain level. In addition to this, we can get some extra benefits,
Higher possibility to earn up to 145.49% in WX staking rewards.
Receive weekly trading fee rewards continuously.
Boost our pool rewards by 3x including relevant APY.
Dashboard
![Screenshot_616.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmNUxgjuu89WvBr8jTgCtqj7tusyy2eQKpcb4Nd9zfGUDp/Screenshot_616.jpg)
Screenshot - https://waves.exchange
The dashboard is like a control panel for this Pool. Mainly here we can easily check our Total LP Balance and Total Income in a detailed manner including LP Growth + WX. As I described before,
And also, here we can select any pool to deposit and all the pools that I have already deposited will be listed here with all the relevant details including Pool Name, My Deposit, LP Amount, Daily Profit, Unclaimed Reward, and Current APY.
Stats
![Screenshot_622.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmc44TSMVZjwCUCWfTmBDqCLPw6WVqHPKxoq8wjDXaWP5m/Screenshot_622.jpg)
Screenshot - https://waves.exchange
The above screenshot belongs to the Stats option in the waves exchange. Here we can check WX Release Schedule, WX Consumed by Community, WX Released / WX Locked, and WX Price in a graphical format.
Governance
![Screenshot_623.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmZYScZWAmRwBmwTd96yqa271Gmr27te9Mbf8mQVWn9KM3/Screenshot_623.jpg)
Screenshot - https://waves.exchange
In the Governance section, they allow us to use our vote with gWX and influence pools. Then we have the ability to earn additional rewards. However, still, the voting system is under maintenance and it will be added to the platform as an active option soon.
👉Investment modalities that they offer to the Users.
![Screenshot_624.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmXUjuj5yeQrzKh1TbA14hCf8NJE4zQCi2o2HRVQD1yxiU/Screenshot_624.jpg)
Screenshot - https://waves.exchange
According to the investment modalities, there are 6 subcategories that we can find in the "investments" option.
Liquidity Pools
Lambo Investments
Algorithmic Trading
LP Staking
Neutrino Staking
Other Products
👉 Liquidity Pools
![](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmeLYdMgXSruk2EZakCdd8c4KCbgLyizBejdzzqXmHbgwX/Screenshot_625.jpg)
👉 Lambo Investments
![](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmVDTZUmxCovEbCapPX5H2xZJDDi4YajxBMutU1JaQtAPk/Screenshot_626.jpg)
👉 Algorithmic Trading
![](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmX8xSM3CoNcjY51tPsDYSD73cy7Ez5b4MKWbNsEQ7n1tc/Screenshot_627.jpg)
👉 LP Staking
![](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmRLzByFPVeJhCxjwUwF2xjzjtZHL5ggLJSFAAwS8y1R8C/Screenshot_628.jpg)
👉 Neutrino Staking
![](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmc8Vfyf7yJNPwJdSEGHkePHs8qsJghNFugihk7LLcY1QP/Screenshot_629.jpg)
👉 Other Products
![](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmdk4xyiGP4coX7iM8ArQXGGWYxW1B2XBtHVJ31PmVw5pM/Screenshot_631.jpg)
![](https://steemitimages.com/640x0/https://miro.medium.com/max/910/1*q4fbO5VhJxTF-HS7Iq5mZA.png)
This is the Source of above image.
👉 3.1) Describe the process. Display screenshots.
Here the Professor has given some rules for this purchase. It means, here we are not allowed to use the Binance exchange. Therefore, even if Binance is my main Exchange, here I will choose an alternative option for buying WAVES.
First of all, I had to do simple research for finding a suitable Crypto exchange. So, according to my research, WAVES is already listed with more than 138 exchanges. Among them, I will choose the "Gate.io" exchange as I'm quite familiar with it already.
![Screenshot_632.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmSgx4fz6H9zJ1BhnssndfuvGTb1rG2T2swo3b1kitRWVx/Screenshot_632.jpg)
Screenshot - https://coinmarketcap.com/currencies/waves/markets/
As the first step, I will log in to my Gate.io account.
![Screenshot_633.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmZAfpUZ8gqpcnndj4sChdGqvfvhMLLJGoxFPNCR7BK6jR/Screenshot_633.jpg)
Screenshot - https://www.gate.io/login
Then I will select WAVES/USDT Pair from the Spot trading option.
![Screenshot_638.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmaAenBwfesjtNuiihkNHKZ1Apfpg4GoW6bsXAcgkeV3Mg/Screenshot_638.jpg)
Screenshot - https://www.gate.io/trade/WAVES_USDT
After that, I will place a buy order for 10 USDT. According to the exchange rate, here I can get 0.68 WAVES for 10USDT.
![Screenshot_636.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmNUXL5UaLdjmJRDyjTvC8w2LdR21tzgaLEHgyFcrHoHoM/Screenshot_636.jpg)
Screenshot - https://www.gate.io/trade/WAVES_USDT
Here I have successfully, purchased 10$ worth of WAVES in the Gate.io exchange.
![Screenshot_637.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmXjTM6mF2QbBcZynFjrbiePAsL9ieqndFmBGvvJPZoSFY/Screenshot_637.jpg)
Screenshot - https://www.gate.io/trade/WAVES_USDT
👉 (3.2) Show how the process to transfer the asset to the official Waves platform is carried out.
If we need to transfer the assets to the official Waves platform, we need the correct deposit wallet address of our Waves.exchange account. Therefore, I have to login to my Waves.exchange account firstly. Then, I can select "Wallet"
![Screenshot_639.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmYAQcNhjrcmpEvuYKykAfxWmtSWp1fuPCxHCkmD9zLXF4/Screenshot_639.jpg)
Screenshot - https://waves.exchange/wallet/assets
After that, I can select the "Deposit & Withdraw" option.
![Screenshot_640.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmQUBg2Zoc3bZKnic8J3RT4AoBLFAWejDpx4ECanPekE51/Screenshot_640.jpg)
Screenshot - https://waves.exchange/deposit
Then it shows a search bar that we can type and search for any desired asset. Therefore, here I will Type "WAVES" and select WAVES from the given list.
![Screenshot_641.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmSUPnFvfqjoTFuCwy3XK6vVEJMJvfPjigu3qSvTWBdQ9f/Screenshot_641.jpg)
Screenshot - https://waves.exchange/deposit
Now it's time to select a deposit method. This can be defined as the Network that we need to deposit or withdraw our assets. So, here I can select WAVES as it is the default option for depositing and withdrawing.
![Screenshot_642.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmVkSntqSPKgj8VhuP3iSYb45UY387TF2DMDDXvLWbQt5L/Screenshot_642.jpg)
Screenshot - https://waves.exchange/deposit
Finally, we can get the correct Deposit address that we need to include in the Gate.io exchange as Withdraw address. As these are public keys, we don't need to worry about its sensitivity.
![Screenshot_643.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmTymzVdHwTGUpsfcpWhrPie2TQdmpxZtuHTcwaQjXs9rP/Screenshot_643.jpg)
Screenshot - https://waves.exchange/deposit
Now I am getting back to My Gate.io exchange. Here I will select my exchange wallet and as well as Withdraw option.
![Screenshot_644.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmbjsjwDywvDzbsUXVRcpLugTsesnyF5SCYBEHiHGF9H8X/Screenshot_644.jpg)
Screenshot -https://www.gate.io/myaccount/withdraw
Same as previously, here we can also select WAVES from the given search bar. So, I will select WAVES.
![Screenshot_645.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmT4tSpwnaB4pNgnnxLMa4cuEALGDpiyiCG575zcvbD2bG/Screenshot_645.jpg)
Screenshot -https://www.gate.io/myaccount/withdraw
As the final step, here I can include my WAVES deposit address in the withdraw column and as well as the amount of WAVES. After that click on "Submit" Then it will automatically transfer our assets from Gate.io exchange to the Waves Platform within a few minutes. Additionally, here we have to pay a fee of 0.14 WAVES as the gas fee or Network fee.
![Screenshot_646.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmS2q5WCw81xRwoXy63njknhtQ6JyJbhGGkBYfY37HLKYu/Screenshot_646.jpg)
Screenshot -https://www.gate.io/myaccount/withdraw
👉 What is the WX token?
WX Token can be defined as the native governance token of Waves.Exchange that runs on the Waves ecosystem. It is basically, a major investment asset in the Waves Platform. The most important thing is that when we need to transact with WX tokens, we have to use the Waves network. As an example, if we need to deposit or transfer WX tokens between wallets or exchanges, we have to use Waves as the network.
![Screenshot_648.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmRV9CDm1DGpc95bJBuwEqHKQFh8qy6BakqrDqUUzoDSkA/Screenshot_648.jpg)
Screenshot - https://waves.exchange/deposit
In the early days, there were some liquidity problems and Market-making issues in the Waves ecosystem. So, they have created this WX token as a solution for these problems or issues. Therefore, with the help of this WX token, they can maintain liquidity and market-making in a great manner.
Currently, we can buy WX tokens only from Waves.Exchange as they have provided a reasonable staking method for these WX tokens. Therefore, all the investors can gain higher profits during holding these tokens at a certain period.
👉 What are its functions within the Waves ecosystem?
As I said earlier, this is the native governance token of the Waves platform and whole the Waves ecosystem. So, there are some unique features or functions for this WX token. I will describe some of them below.
👉We can deposit or withdraw WX tokens anytime between Waves wallets or waves exchanges.
👉When we do any other transactions within the Waves ecosystem, we can reduce the trading fee using the WX token.
👉We can buy and hold WX tokens in the Waves exchange and it automatically rewards some interest just for holding tokens.
👉We can earn reward tAPY up to 233.60% using WX/USDN Pool in the Waves.Exchange that is very high interest as compared to other assets.
👉Token liquidity is so high that it is possible to exchange even large amounts of money for the existing value.
👉 What is its value and Market Capitalization at the time of writing?
For finding the value and Market Capitalization of this token, here I've selected the https://coinmarketcap.com platform.
So at 5:34 am UTC time on the first of January, the value of this token is $ 1.75. Looking at the last 24 hours, it can be seen as a decline of 2.84%. At the same time, Market Capitalization is $11,983,879 and Fully Diluted Market Cap is $1,748,652,784.
![Screenshot_649.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmZqDf5VTQi5jfDahQUiXGHF3Y4D8LgMenRNVbnUVcz7L7/Screenshot_649.jpg)
Screenshot - https://coinmarketcap.com/currencies/waves-exchange-token
According to the above screenshot, the current rating of this token is # 3524 and we can see that the 24-hour trading volume is $ 101,007. From the below-attached screenshots, we can see it clearly.
![Screenshot_650.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmcy2cm2ixqYBU4BhHgDXHardeTJXdHyAYBvLUta2rBzhi/Screenshot_650.jpg)
Screenshot - https://coinmarketcap.com/currencies/waves-exchange-token
![](https://steemitimages.com/640x0/https://i.ytimg.com/vi/cdEjESRgbDY/maxresdefault.jpg)
This is the Source of above image.
👉 Introduction of Waves Ducks
Waves Ducks is an interesting decentralized gaming-based project that runs on the Waves ecosystem. This basically consists of the play-to-earn method in which the players can participate in the game using specified Non Fungible Tokens. It can be defined as EGG tokens as well as the main currency of this game.
Here all the users can farm these EGG tokens in the My Farm section that is very similar to staking. The most important thing is that there is a separate market for this game for selling bred ducks. So, it is another opportunity to earn rewards.
Waves Ducks is very popular in the external NFT marketplace and it is currently staying in the top 10 list. By that, we can confirm its popularity among NFT fans. And also, I will explore more detail of the Waves Ducs token using the Coinmarketcap.
So at 7:50 am UTC time on the first of January, the value of this token is $569.71. At the same time, Market Capitalization is $24,838,536 and Fully Diluted Market Cap is $$569,735,856.
![Screenshot_659.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmPscvkve65aNmfCME4fE5gUu4QJhdy5rYJu7tDi13CBSy/Screenshot_659.jpg)
Screenshot - https://coinmarketcap.com/currencies/waves-ducks/
👉 What does this project consist of?
Basically, it has a main Non-Fungible Token that can be defined as Waves Ducks or EGG. I have explored more details of this EGG token above. Secondly, there are different NFT ducks available in this project. However, the value of these ducks will be different from each other. The relevant player should breed these ducks from time to time conditionally.
Especially, there are some specific letters for the genotype of each Duck. So, according to these letters, the first 8 letters represent the duck’s appearance and the first letter after the dash represents the duck’s generation. At the same time, the duck’s background color represents by the dash after the second letter after the dash.
![](https://steemitimages.com/640x0/https://www.cryptocurrenciesnewz.com/wp-content/uploads/2021/06/ducks-730x239.png)
This is the Source of above image.
👉 How do I access it?
First of all, we need an account on the Waves.Exchange. As I have already created an account on the Waves.Exchange above, here I will repeat it shortly.
We can get access to the Waves Exchange using https://waves.exchange site. Then we can create an account through the "Sign UP" option. (Above I have demonstrated all the steps one by one clearly)
![Screenshot_617.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmQvWnmPUwjDJHzgJMKt9L81FixYDTJHh1w8t6SNwDpMzr/Screenshot_617.jpg)
Screenshot - https://waves.exchange
After creating an account on Waves Exchange, we need to get access to the Waves Ducks official gaming platform. Therefore, I have to browse the https://www.wavesducks.com site.
After opening the relevant web page, we have to click on "Start playing".
![Screenshot_652.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmbyN1CVvLGxQrpMGr52eB31Tre3LVSsjQrYUUX7Kp8yqZ/Screenshot_652.jpg)
Screenshot - https://www.wavesducks.com
Then we can see the login window and we can get access to it by using our email and password. Here we can use the same login details that we used to create an account in the Waves.Exchange.
![Screenshot_653.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmab2CJyDrY3NjXi5M48xujVueSm55P4gADFN7oKxWo2NZ/Screenshot_653.jpg)
Screenshot - https://www.wavesducks.com
Finally, we can see the interface of the Waves Ducks platform. However, if we need to start playing the game, we need to deposit some EGG tokens. We can easily get these EGG tokens by Swapping WAVES tokens to EGGs.
![Screenshot_654.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmQzN9zksu4sZbg5jd6kQRTqgSPHJhrJjYybdvBAGwGmL1/Screenshot_654.jpg)
Screenshot - https://www.wavesducks.com
For swapping WAVES tokens to EGGs, we can use https://swop.fi exchange. It is decentralized powered by Waves. I will demonstrate it step by step shortly.
Firstly we need to connect our Waves Echange wallet with this swop.fi exchange. We can do it by clicking on "Connect Wallet"
![Screenshot_655.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmPYGG42jfyvJDTGdYTDJK5WbWMNqbWEeQhrqQ3VMuEpxC/Screenshot_655.jpg)
Screenshot - https://swop.fi/exchange/
After that, we have the ability to select our desired login option. As I have created my Waves.Exchange account using Email, here I will choose the Email option.
![Screenshot_656.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmYbVDHpgamWGLRtNrZ4kMTNUUbdAz8hxL1AAMppx7uuHG/Screenshot_656.jpg)
Screenshot - https://swop.fi/exchange/
Finally, I have connected my Waves.Exchange wallet and "swop.fi" exchange successfully. If we have enough WAVES in our wallets, we can easily swap them to EGG tokens successfully. Then we can participate in the game very successfully.
![Screenshot_657.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmc2PpsZkit852J9wTALc835jCKydNjndM8ohJmdYew29Y/Screenshot_657.jpg)
Screenshot - https://swop.fi/exchange/
Let's explore the main options in the Waves Ducks project. It is the "Play To Earn" facility. Here we can earn higher rewards by Farming. Therefore, we have to select a Collective Farm from the given list.
![Screenshot_658.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmQU8FuHmc1jHDy6oxXuQDzQq1Qh3LmjBbx36mFvNPodWQ/Screenshot_658.jpg)
Screenshot - https://www.wavesducks.com
From the above-explained fact, we can clearly understand the Leased Proof-of-Stake (LPoS) mechanism that is certainly advantageous as compared to Proof-of-Stake (PoS). Waves Platform is a good example of this mechanism and surely we can gain higher rewards as compared to other methods. Additionally, we have some other opportunities to earn rewards by doing some entertainment things such as playing games. This Waves platform contributes a lot for that too. That's how we use Waves Ducks to get us involved in that process. So, finally, I can say the WAVES platform is a higher profitable platform to earn additional reward as well as entertainments purposes.
This is all about my homework post and I thank you to professor @imagen for such a valuable topic that was really very educational and helpful for our personal life too.