Wrapped AVAX (WAVAX) is a tokenized version of the Avalanche (AVAX) cryptocurrency, designed to be used on different blockchain networks. WAVAX is pegged to the value of AVAX on the Avalanche network, allowing users to access AVAX liquidity and decentralized finance applications on other platforms. This token enables cross-chain interoperability and facilitates the seamless transfer of assets between different blockchains.