WandX-Cross Chain Airdrop for WAND Holders

If I were to point to one blockchain project right now that represented the least risk and the most gain, with a solid team that continues to deliver product on time, I know who I’d pick.

Disclaimer: this is not investment advice. Do your own research. I am long WAND.

WandX

WAND, which I’ve written about before, is a token that allows users to create baskets of cryptocurrencies. It’s a bit of a “do it yourself ETF” token, which is also used on the WandX decentralized exchange (DEX).

While I have played around with making my own baskets of tokens, I have found this to be less than useful at its current iteration. This could change in the future, but I’m not too excited about this use case at the moment.

I’ve also found the earlier iterations of the DEX to be hard to use and a bit clunky overall. There is a lot of competition for DEXs on the Ethereum blockchain, and I’ve noticed that even Singular-an early Ethereum startup- is having a hard time getting a lot of people to use their exchange. There is, currently, basically no trading happening on WandX.

And yet, I think WAND has incredible potential in the near to mid term future.

Looking Forward

I wanted to explain some of my hesitations about WAND before going into full on shill mode, because I want to acknowledge that it’s not yet a finished product. But here’s the points that have me really excited about owning WAND:

One, the team ships code. Abhi Ramesh, who I interviewed during the crowdsale, is one of those beast mode founders who is highly focused. The team makes timelines and meets them.

Two, the market cap is incredibly low. At a $1 million market cap, it is among the lowest in the cryptocurrency world. The team burned unsold tokens after the crowdsale, resulting in a float of only 16 million tokens…currently valued around 8 cents each. There is not a lot of downside…

Three, they’re beta testing put options, which would allow token holders to create smart contracts with options on tokens they hold.

Four, WandX has recently announced their next projects: a desktop wallet that will interact with their DEX, and a new token, WANDNEO, that will be used to create the first ETH/NEO DEX, which will be airdropped to WAND holders in August!

That’s right, WAND holders will receive a 1:1 airdrop of WANDNEO, a staking token that will reside on the NEO blockchain and allow users to trade cross chains.

This is incredibly ambitious, but Wand’s ability to continually ship code on time has me confident in their ability to pull this off.

Benefits of an ETH/NEO DEX

Both Ethereum and NEO are popular blockchains in the East, with billions of dollars of value in each. Having a single DEX between the two will be invaluable for those who prefer not to use a centralized exchange. I think it’s possible that Wand’s NEO DEX becomes a major point of traffic for ETH/NEO exchanges, therefore rewarding WANDNEO holders (who, as stakers, receive a portion of the exchange fees taken).

August’s 1:1 airdrop is a huge boon to those who are bullish on ETH and NEO and believe a DEX between them would work well.

And finally, WAND only needs to rise to a $10 million dollar market cap to be a ten bagger. I’ll continue to hodl and watch it closely.

-*Jeff*

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