⚡WLP (waveX Liquidity Pool)

What is WLP?

• WLP stands for waveX Liquidity Pool, represented by a special LP (liquidity provider) token.

• When users deposit assets such as ASTR, WETH, or USDC.e into waveX, they receive WLP tokens in return.

• Holding WLP means you are supplying liquidity to waveX’s perpetual trading system and can earn a portion of the protocol’s fees as a reward.

Note

• WLP vs. WELP

  • WLP represents the deposit token that LPs receive when they provide liquidity in assets such as wBTC, wETH, USDC.e, or ASTR.

  • WELP represents the deposit token that LPs receive when they deposit EL tokens.

  • In other words, waveX operates two separate vaults. When users deposit into the EL-only vault, they receive WELP tokens in return.

• WLP/WELP vs. fsWLP/fsWELP

  • By design, when users purchase WLP or WELP, the tokens are automatically staked. In return, they receive fsWLP or fsWELP, which serve as the staked versions of the original tokens. These staked tokens are used as the basis for earning points and other rewards.

  • When users sell fsWLP or fsWELP, those tokens are burned. At the same time, the corresponding WLP/WELP are unstaked and then burned as well, with the chosen underlying asset (e.g., EL, wBTC, etc.) being withdrawn to the user.

Depositing and Withdrawing WLP/WELP

Deposit

• Go to the “Earn” section on waveX.

• Enter the asset and amount you wish to deposit.

• After confirming the transaction, you will receive an equivalent amount of WLP/WELP based on the value of the assets deposited.

Withdrawal

• To withdraw, you simply burn your WLP/WELP tokens.

• You can choose which assets (e.g., ASTR, WETH, or USDC.e) or EL you want to receive from the pool.

• Partial or full withdrawals are possible at any time, giving you flexibility in managing your positions.