What Waves Platform does

Waves Platform is a community-based, open-source blockchain protocol founded in 2016 and operated by DLTech Ltd., a private company registered in the Seychelles (registration number 216295). The platform provides infrastructure for issuing, transferring, and trading custom and asset-backed tokens, and supports decentralized application development through its proprietary Ride functional programming language, Waves-NG consensus protocol for high-throughput block production, and Leased Proof of Stake (LPoS) consensus mechanism. The ecosystem includes multiple community-developed decentralized exchanges (WX Network, Swop.fi, Puzzle Network), algorithmic DeFi protocols (Neutrino with the XTN index token), lending markets (Vires Finance), cross-chain staking (sWAVES), bridges (PepeBridge), wallets (Keeper Wallet, WavesFX, Enno Wallet), and an NFT gaming application (Waves Ducks / Arkimals).

The platform's core developer offering is the Ride smart contract language together with multi-language SDKs (C#, Go, Java, TypeScript, Python, PHP, Rust), an online IDE, and a Node REST API plus Waves Signer library for transaction signing without exposing private keys. End users access the network via multiple wallet clients and through WAVES token listings on tier-1/tier-2 centralized exchanges (Bybit, Upbit, Gate.io, HTX, KuCoin, MEXC, Bitget). The platform monetizes indirectly via on-chain transaction fees (paid in WAVES tokens, minimum 0.001 WAVES per transfer) and node block rewards; DLTech Ltd. does not disclose traditional corporate revenue. Customer segments are horizontal and persona-based: blockchain developers building dApps, DeFi users and traders, and NFT creators/collectors.

Waves' go-to-market is community-led rather than enterprise-sales-driven, relying on open-source distribution, developer documentation, and ecosystem grants. Strategic direction in 2023 included a $500,000 investment into Boğaziçi Ventures to incubate a real-world asset tokenization company, alongside MetaMask/EIP-712 interoperability integration aimed at onboarding EVM-native users. The company is led by founder Alexander (Sasha) Ivanov as co-CEO, with Ilya Smagin heading smart contract development; it employs 101–250 people and has not raised institutional capital since a $120M round in December 2018.

Name

Waves Platform

Legal name

DLTech Ltd.

Website

https://waves.tech

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

101–250 employees

Short description

Waves Platform is a community-based, open-source blockchain protocol founded in 2016 and operated by Seychelles-registered DLTech Ltd., offering token issuance, DeFi infrastructure, NFT tooling, and smart contract development via its proprietary Ride language and Waves-NG consensus. It serves developers, DeFi users, and NFT creators globally.

Ownership category

akta.pro rank

Product category

Blockchain Infrastructure

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Cross-Chain Developer Tooling (messaging SDKs, relayers, interoperability APIs) (FSAPABAF)

akta.pro secondary industries

Tokenization Platforms (RWA, Securities, Funds) (FSAGAMAA), Digital Asset Custody & Key Management (MPC, HSM, Wallet Infra) (FSAGAMAB), Relayer/Validator Networks & Middleware (relayer marketplaces, keeper networks) (FSAPAKAG), Wallet Infrastructure (SDKs, Wallet-as-a-Service) (FSADACAD)

Keywords

• Blockchain infrastructure
• Decentralized exchange
• Smart contracts
• DeFi protocols
• Crypto wallet

Headquarters

HQ city

Moscow

HQ country

Russia

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Blockchain Transaction Fees: Waves blockchain generates revenue through transaction fees. Users pay fees in WAVES tokens for various operations including transfers (0.001 WAVES minimum), smart asset transfers (0.005 WAVES), and other blockchain operations. The fees are paid by users executing transactions on the network.
2. Node Block Rewards: Nodes that generate blocks are rewarded with native WAVES coins from the protocol's monetary policy, plus transaction fees paid by participants. This incentivizes network participation and security.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Waves Platform is a community-based stack of decentralized open-source blockchain technologies that enables the creation and trading of custom tokens and digital assets. The core offering is the Waves Blockchain protocol powered by the Waves-NG consensus mechanism and the Ride smart contract language, complemented by an ecosystem of decentralized exchanges (WX Network, Swop.fi, Puzzle Network), DeFi protocols (Neutrino, Vires Finance), NFT gaming (Waves Ducks), wallets, developer tools (SDKs, Waves IDE, Waves Signer), and a blockchain explorer.

Product overview

Waves Platform is a blockchain ecosystem centered on the Waves Blockchain — a community-based stack of decentralized open-source technologies. The platform provides a comprehensive DeFi infrastructure including multiple decentralized exchanges (WX Network, Swop.fi, Puzzle Network), algorithmic DeFi protocols (Neutrino), lending/borrowing (Vires Finance), staking solutions (sWAVES), and NFT/gaming applications (Waves Ducks). For developers, Waves offers the Ride smart contract language, Waves IDE development environment, Waves Signer library, and multi-language SDKs (C#, Go, Java, TypeScript, PHP, Python, Rust). The ecosystem also includes Keeper Wallet for secure key management, Waves Explorer for blockchain data browsing, and cross-chain bridges (PepeBridge) for interoperability.

Differentiator

Problem solved

Functional benefit

Products and services

• Waves Blockchain
• WX Network
• Swop.fi Decentralized exchange and automated market maker (AMM) based on Waves Blockchain, combining several types of liquidity pools for volatile assets and stablecoins for instant cryptocurrency exchange and liquidity provision.
• Neutrino Algorithmic DeFi protocol maintaining infrastructure for the XTN index token, which is collateralized by a set of Waves Ecosystem tokens and governed by the user community.
• Puzzle Network Next-generation DeFi services bundle including Puzzle Swap DEX featuring mega pools, a lending protocol, and NFT marketplace.
• Waves Ducks NFT gaming platform featuring Arkimals — a collection-focused game with digital duck images in NFT format.
• Keeper Wallet Official browser extension and mobile app for secure key storage and interaction with third-party web applications on the Waves blockchain.
• Waves Signer TypeScript/JavaScript library for signing and broadcasting blockchain transactions on behalf of users without requiring seed phrases or private keys, with unified interface for multiple wallet providers.
• Waves IDE Online development environment for developing and testing Ride smart contracts, with capabilities for creating accounts, signing and sending transactions, and code samples library.
• Ride Programming Language Waves' native functional programming language for blockchain smart contract development — expression-based, designed for execution within blockchain environment.
• Client Libraries (SDK) Software development kits available in multiple programming languages including C#, Go, Java, TypeScript/JavaScript, PHP, Python, and Rust for operating with Waves blockchain.
• Waves Explorer Official blockchain explorer for browsing Waves blockchain data, providing transaction history, block information, account data, and a faucet for obtaining free test tokens.
• Vires Finance Liquidity protocol for lending and borrowing assets at rates defined by market equilibrium.
• PepeBridge Decentralized protocol for cross-chain cryptocurrency transfers.
• sWAVES Cross-chain staking protocol by PepeTeam allowing WAVES holders to earn passive income without reward schedule or lock-up period.

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature6 records

Scale indicators2 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Solana: Solana is a high-throughput L1 smart contract platform competing directly with Waves for throughput-sensitive dApp developers, DeFi protocols, and NFT/gaming applications. Both chains emphasize low transaction costs and high TPS as core differentiators versus Ethereum.
• Avalanche: Avalanche is a high-throughput L1 with subnet architecture supporting EVM and custom VMs, directly competing with Waves for token issuance, DeFi, and custom blockchain deployment use cases. Both target enterprise and developer adoption through low-cost execution.
• Polygon: Polygon operates an EVM-compatible L1/PoS chain and aggregation layer that competes for the same dApp developers and DeFi/NFT use cases as Waves. Both chains prioritize low transaction costs and developer accessibility.
• Cardano: Cardano is a third-generation L1 blockchain with a functional smart contract platform (Plutus/Aiken) launched in 2017, similar vintage to Waves. Both target academic rigor, formal methods, and a developer-focused ecosystem for decentralized applications.
• Tezos: Tezos is a liquid proof-of-stake L1 with formal-verification-friendly smart contracts (Michelson/Michelson-like), positioned around energy efficiency and on-chain governance. Like Waves, it launched in the 2016-2018 era targeting token issuance and dApp deployment with low fees.
• NEAR Protocol: NEAR is a sharded L1 smart contract platform focused on developer experience and low transaction costs, with a Rust-based smart contract language. It competes directly with Waves for dApp developers seeking low-cost, scalable infrastructure.
• Cosmos: Cosmos offers an app-chain framework (Cosmos SDK) and IBC interoperability protocol that enables custom blockchain deployments. Waves supports custom blockchain deployments and cross-chain bridging (PepeBridge), placing it in the same app-chain vs monolithic-L1 competitive set as Cosmos.
• Algorand: Algorand is a pure proof-of-stake L1 with low transaction fees, tokenization tooling, and a developer-focused smart contract language (PyTeal/Reach). It competes with Waves for RWA tokenization, DeFi, and developer mindshare in the ESG-aligned L1 segment.

Broad incumbents

• Ethereum: Ethereum is the dominant smart contract platform and the primary competitor to any L1 offering token issuance, DeFi, and smart contract functionality. Waves positions itself as a faster, lower-cost alternative to Ethereum, and supports MetaMask/EIP-712 interoperability specifically to onboard Ethereum users.
• Stellar: Stellar is an L1 blockchain focused on tokenization of real-world assets, payment corridors, and asset issuance with low transaction costs. Waves targets a similar RWA tokenization wedge (per Boğaziçi Ventures partnership) with comparable low-fee, fast-finality positioning.

Market position

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/wavesplatform
• GitHubgithub.com/wavesplatform
• LinkedInlinkedin.com/company/waves-tech

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds5 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Waves Platform