What is WAXP used for?

Excuse me, I've been hearing a lot about WAXP lately in the cryptocurrency community, but I'm not entirely clear on its specific use cases. Could you perhaps elaborate on what WAXP is typically utilized for? Is it primarily a transactional currency, or does it serve some other purpose in the crypto ecosystem? I'm particularly interested in understanding its role in decentralized applications, if it has any, and how it differs from other cryptocurrencies in this space. I'd appreciate any clarification you can provide.