- In a Christmas Day post, Waves announced that it will subsidize token review fees from 1,000 Waves to 10 WTC
- The token project review process will also become decentralized with a number of data providers including DataTransaction, coming on board
On the 25th of December 2018, Waves made an announcement via Medium regarding the review fees for token projects.
Through the Token Standards Association, also known as BetterTokens, Waves received feedback about these fees has now decided to put some new measures in place.
It was announced that the review process is not a mandatory one and that whether or not developers submit their projects for review and pay the 1,000 WAVES fee, their token can trade on the platform.
“All tokens created on Waves platform will continue to trade, unrestricted, on DEX, using their token id as their identifier,” the statement said.
Some changes, however, will be made to the process of reviewing token projects, mainly that they will become decentralized.
Now, information about various assets can be uploaded to the blockchain and the public will be able to provide further information and verify that a project was issued on the Blockchain. This will be down through DataTransactions and all information will be available to the public.
This platform will eventually allow a number of data providers besides DataTransaction and each can set their own criteria for token certification. However, DataTransaction is the only one available for now.
“The vision behind this is to allow a range of providers to connect to Waves and assess and verify token projects in the future,” the post said.
Developers wishing to have their tokens certified can now do so at a lower cost as Waves also announced that projects that meet certain criteria will have their certification fee subsidized.
Rather than paying 1,000 WAVES, they will only have to pay 10 WCT regardless of the projects eventual verification status.
“So the issuer pays only 10 WCT — this will be the basis for subsidizing the rest amount of the fee for BetterTokens review. The Subsidy Programme will last until June 15,” Waves management said.
These changes came as a result of community feedback and Waves said, in their closing statement, that they are committed to bettering the platform for their users and thus, take all feedback into account.