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Waves announced a few days ago that it had launched the buyback for 40,000 WRT from its users. The platform also released its data Oracle earlier this month.

Waves Buying Back 40,000 of Its Reward Tokens

The Waves platform announced last week that it has begun buying back 40,000 of its reward tokens called WRT. The tokens are sent to Waves ambassadors as a sign of appreciation for their contribution to the ecosystem.

According to the blog post, the Waves team revealed that it gave out a total of 872,200 Waves Reward Tokens (WRT) to 8,722 addresses during its recent airdrop. However, they are buying back 40,000 of those tokens from their users.

A buy wall for the tokens was put up the platforms decentralized exchange on April 19. While the WRT is not designed to be traded within the community, they are unique cryptocurrencies used solely as a reward for Wave’s ambassadors.

“Ambassadors are a vital part of the Waves ecosystem and community, and we want to incentivize them to do their work in any way we can. The Waves team will also be donating WRT to Ambassadors who show their dedication and initiative,” the blog post added.

The team is encouraging its users in Berlin, New York, San Francisco, and Singapore to apply for the role of Ambassadors. It will allow community members to show their commitment to Waves, increase awareness, and earn some WRT in the process. Interested candidates are advised to send their applications to the airtable link provided in the blog post.

Waves Platform Launches Data Oracle Tool

Earlier this month, the Waves platform announced that it had released its data oracle tool. Data oracles serve as agents that gather real-life information and feed it to the Waves blockchain for use by smart contracts and decentralized applications.

According to their blog post, the Oracle tools will work towards boosting communication between the blockchain and the real world. The Oracle tool will provide a wide range of data to the blockchain including currency exchange rates, weather reports, results of elections or sporting events, commodity prices or even flight, and so much more.

The data provided by the tool would also help trigger the execution of a smart contract once the terms of the agreement have been met. The data can be recorded manually or automatically unto the blockchain, which contains fields for primary values, and more.

The team revealed that it is working on creating a database of open-source protocols that would help developers put together standards for blockchain data oracles in several fields. The primary aim of this is to boost interoperability and compatibility of IT and blockchain systems.

ERC20 Gateway

According to the Waves platform roadmap, the next milestone to achieve is the ERC20 Gateway. This gateway, when added to the Waves ecosystem would see popular Ethereum tokens traded on the network.

The milestone would boost the reach of the Waves blockchain as more tokens would be available for trading. The team didn’t set a timeline for this, but it would be completed this year.

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