Quote from: XBYGolden on November 20, 2019, 01:49:07 PM

wXBY is a smart asset (https://docs.wavesplatform.com/en/blockchain/token/smart-asset.html) used on the WAVES blockchain, it only exists on the WAVES blockchain and it cannot be transferred to a real XBY address. When you transfer XBY to your WAVES account using the gateway the coins deposited in your XBY address are being paired automatically with the same amount of wXBY tokens on your WAVES address. when you trade XBY on the waves DEX, or any other exchanges that (would) allow the trade of wXBY, you are trading wXBY and not real XBY. To withdraw XBY from you WAVES account you first need to convert wXBY back to real XBY by going through the gateway again. The wXBY paired to the real XBY you want to withdraw is transferred back to the wXBY creator address and the real XBY is transferred to your XBY wallet.
This process is the same for each non WAVES based token/coin that is tradeable on the WAVES DEX (BTC, LTC, ETH, ZEC, BCH, XMR, ...),for each of these coins a WAVES based token was also created on the WAVES blockchain. Waves DEX does not use the native non WAVES based tokens to conduct transactions, it uses the "twin tokens" for these assets.

So no, XTRABYTES did not create an additional 650M XBY when we created the gateway for XBY, what we did was create a WAVES based token so the WAVES blockchain would be able to process trades for XBY. Why 650M wXBY and not 100M or 10M, the answer is simple we don't know how much XBY will be traded at one time on WAVES but we know it can't be more than the maximum supply of XBY coins, which is still 650M, even after the creation of wXBY. Just like the supply of BTC did not go up after the creation of wBTC or any of the other coins for which a WAVES token was created to facilitate trades on the WAVES DEX. If this was the case that there would need to exist a block on the XBY blockchain where 650M new XBY coins were added to the blockchain, which of course doesn't exist like anyone can check using the publically accessible blockexplorer.

It's also important to know that the wXBY token itself has no value of it's own, 1 wXBY represents the ownership of 1 real XBY coin. wXBY is only used for record keeping on the WAVES blockchain and nothing more, again the wXBY token itself has no monetary value of it's own.

The creator address for wXBY is connected to the automated gateway service, so every time someone deposits XBY his/her XBY address associated with his/her WAVES account the same amount of wXBY is added to the WAVES address associated with that amount. Every time someone withdraws XBY from WAVES the same amount of wXBY is transfered from his/her WAVES address to the creator address. That is why apart from the initial issue transaction you will only see transfer transactions for the creator address 3PCfwK2hgYjoKwsgRg7wgBSYF3EXSgXyXfn.

Furthermore, it doesn't matter where the wXBY tokens are being traded, the WAVES DEX or any other exchange that allows the trade of wXBY (non for as far as we know). If you want to withdraw the XBY to you personal XBY wallet you need to go through our gateway. You can not transfer wXBY tokens to a XBY wallet. This means that you can't send wXBY to another exchange that offers real XBY pairs to sell wXBy.

The XBY wallet on waves is a smart wallet correct?