Due to unfortunate and uncontrollable events, Waves African Exchange Pty Ltd has decided to do an emergency rebrand and token replacement.
It has come to our attention that another blockchain project has claimed the same brand concept and issued their own token called $WAX. Despite contacting them regarding the conflict, they have chosen to go ahead and have listed their $WAX token on the Tidex Exchange a few days ago.
Having considered our legal options, it was decided that a costly lawsuit would be counterproductive and we have instead decided to forfeit the WAX$ tokens and image for the sake of our investors and to prevent market confusion.
We have also decided to minimise the misrepresentation of our brand by updating our logo and our branding material, along with the re-issuing of a new token in its place, WAXEX.
We feel that this course of action will lead to the least amount of damage, although we are rather sad about letting go of our branding and visual representation. We do believe, however, that it will have little impact on the overall success of our project in the long run
Monika Van Zyl
Waves African Exchange Pty Ltd