The Waves ICO started on the 12th of April and ended about a month ago, on the 1st of June, during this time Waves managed to gather a staggering amount of 30,094 Bitcoins, 460 of which were raised in NXT asset swap, making Waves the 3rd most successful ICO of all time, along with giants like The DAO and Ethereum. During the ICO, Waves also managed to partner up with Mycelium, one of the best and most respected wallet providers in the field.
During the ICO period Waves Platform distributed 85,000,000 coins. The remaining 15,000,000 were reserved for bounties as so:
– 1 million tokens will be distributed to early supporters.
– 1 million tokens are reserved for post-ICO bounties.
– 4 million tokens are reserved for strategical partners and backers
– 9 million tokens are withheld by the development team.
There were also discounts for early participants:
– First ICO day bonus. Users who bought WAVES tokens on April, 12 received a bonus of 20%
– Users who participated in the campaign before the end of April (April, 13 – April, 30) received 10% bonus.
– May, 1 – May, 15 buys received a 5% bonus.
The Waves Project was created and managed by a team of 6 talented individuals, led by Sasha Ivanov creator and CEO of the waves platform. Sasha Ivanov was one of the developers of the famous crypto 2.0 platform: NXT.
Waves is a decentralized blockchain platform that allows the creation, transfer and exchange of custom and fiat tokens, and assets. Waves was built completely from scratch and uses its own algorithm, but it’s heavily based on NXT, since the creator of Waves was once in the team and decided to take the technology into a different direction. Waves provides features that NXT doesn’t like fiat tokens that will be created through fiat gateways such as banks, and asset-to-asset exchange (Although NXT plans to implement this feature with the creation of the Ardor Platform in October).
Why do fiat tokens matter? Well, using bitcoin as a payment method is great: low fees, fast transactions, privacy, and so on, but one of the things that may put average users or merchants from accepting bitcoin as a payment method is volatility. The amount of btc you send may not add up to the amount of USD, JPY or any other fiat currency you bought it for. Waves plans to fix this with the introduction of Fiat tokens and fiat gateways, that will allow users to deposit fiat currencies, convert them into tokens, send and withdraw those tokens within the Waves Platform
The Waves platform will also feature a messaging center, a portfolio to keep track of assets and a voting center to facilitate consensus on various subjects.
The Waves platform will be KYC and AML compliant (Know your Customer & Anti-Money Laundering), in order to provide fiat gateways. No bank partnerships have been announced, but some may be on their way has sasha hinted in the last interview with Tai Zen: https://www.youtube.com/watch?v=FXo49HfQxu4 . Most of the features in this platform are still in development, but the lite client can be downloaded here: https://wavesplatform.com/ as a chrome extension and Waves is already available on some of the exchange markets.