WAX is built on the Ethereum blockchain and it operates based on a smart contract. However, I haven't been keeping up with this one lately so I can't tell you much more about it.

Polygon needs an article on its own and I wrote it after this one ;)

Here it is if you're interested: https://medium.datadriveninvestor.com/why-should-polygon-matic-be-on-your-radar-e715be623bcb

Thanks for taking the time to read and comment John.

Cheers!