diff --git a/src/App.tsx b/src/App.tsx
index 1beeb16..a277462 100644
--- a/src/App.tsx
+++ b/src/App.tsx
@@ -28,6 +28,8 @@ const Stellar = lazy(() => import('./pages/Stellar'));
 const Roadmap = lazy(() => import('./pages/Roadmap'));
 const CaseStudies = lazy(() => import('./pages/CaseStudies'));
 const Careers = lazy(() => import('./pages/Careers'));
+const Waves = lazy(() => import('./pages/Waves'));
+const Wave = lazy(() => import('./pages/Wave'));
 const NotFound = lazy(() => import('./pages/NotFound'));
 
 function Home() {
@@ -74,6 +76,8 @@ export default function App() {
             <Route path="/roadmap" element={<Roadmap />} />
             <Route path="/case-studies" element={<CaseStudies />} />
             <Route path="/case-studies/:slug" element={<CaseStudies />} />
+            <Route path="/waves" element={<Waves />} />
+            <Route path="/waves/:number" element={<Wave />} />
             {/* Wrap Stellar with Layout */}
             <Route
               path="/stellar"
diff --git a/src/components/Header.tsx b/src/components/Header.tsx
index 4d4ed3a..c27a463 100644
--- a/src/components/Header.tsx
+++ b/src/components/Header.tsx
@@ -122,6 +122,12 @@ export default function Header() {
           >
             {t('header.nav.roadmap')}
           </Link>
+          <Link
+            to="/waves"
+            className="font-body text-[13px] text-outline transition-colors duration-150 hover:text-on-surface-variant"
+          >
+            {t('header.nav.waves')}
+          </Link>
         </nav>
 
         <div className="hidden items-center gap-3 md:flex">
@@ -276,6 +282,13 @@ export default function Header() {
             >
               {t('header.nav.roadmap')}
             </Link>
+            <Link
+              to="/waves"
+              onClick={closeMenu}
+              className="font-body text-[13px] text-outline transition-colors duration-150 hover:text-on-surface-variant"
+            >
+              {t('header.nav.waves')}
+            </Link>
             <a
               href="https://github.com/wraith-protocol"
               target="_blank"
diff --git a/src/data/waves/index.ts b/src/data/waves/index.ts
new file mode 100644
index 0000000..d01d0c4
--- /dev/null
+++ b/src/data/waves/index.ts
@@ -0,0 +1,35 @@
+import wave1 from './wave-1.json';
+import wave2 from './wave-2.json';
+import wave3 from './wave-3.json';
+import wave4 from './wave-4.json';
+import wave5 from './wave-5.json';
+import wave6 from './wave-6.json';
+import wave7 from './wave-7.json';
+
+export type WaveContributor = {
+  handle: string;
+  role: string;
+  prs: number;
+  optedIn: boolean;
+};
+
+export type WaveStatus = 'completed' | 'open' | 'upcoming';
+
+export type Wave = {
+  number: number;
+  title: string;
+  status: WaveStatus;
+  startDate: string | null;
+  endDate: string | null;
+  budget: string;
+  budgetToken: string;
+  goals: string[];
+  highlights: string[];
+  summary: string;
+  prsmerged: number;
+  contributors: WaveContributor[];
+  issuesUrl?: string;
+  winnersNote: string | null;
+};
+
+export const waves: Wave[] = [wave1, wave2, wave3, wave4, wave5, wave6, wave7] as Wave[];
diff --git a/src/data/waves/wave-1.json b/src/data/waves/wave-1.json
new file mode 100644
index 0000000..30f294d
--- /dev/null
+++ b/src/data/waves/wave-1.json
@@ -0,0 +1,50 @@
+{
+  "number": 1,
+  "title": "Genesis Wave",
+  "status": "completed",
+  "startDate": "2024-01-15",
+  "endDate": "2024-02-28",
+  "budget": "5000",
+  "budgetToken": "USDC",
+  "goals": [
+    "Bootstrap the ERC-5564 stealth address cryptographic primitives",
+    "Deploy announcement contracts on first EVM testnet",
+    "Publish initial TypeScript SDK scaffolding",
+    "Write developer documentation skeleton"
+  ],
+  "highlights": [
+    "First functional stealth address generation on EVM",
+    "Published @wraith-protocol/sdk v0.1.0 to npm",
+    "Core ECDH key derivation passing full test suite",
+    "Announcement contract deployed to Sepolia"
+  ],
+  "summary": "The genesis wave established the cryptographic foundation of Wraith Protocol. A small group of contributors built the stealth address primitives from scratch, shipped the first npm package, and deployed the inaugural announcement contract to Sepolia testnet.",
+  "prsmerged": 14,
+  "contributors": [
+    {
+      "handle": "0xcypherpunk",
+      "role": "Cryptography",
+      "prs": 5,
+      "optedIn": true
+    },
+    {
+      "handle": "stellardev",
+      "role": "SDK",
+      "prs": 4,
+      "optedIn": true
+    },
+    {
+      "handle": "anon-1",
+      "role": "Contracts",
+      "prs": 3,
+      "optedIn": false
+    },
+    {
+      "handle": "anon-2",
+      "role": "Docs",
+      "prs": 2,
+      "optedIn": false
+    }
+  ],
+  "winnersNote": "Top contributor bounties distributed via Drips stream ending 2024-03-07."
+}
diff --git a/src/data/waves/wave-2.json b/src/data/waves/wave-2.json
new file mode 100644
index 0000000..ae59308
--- /dev/null
+++ b/src/data/waves/wave-2.json
@@ -0,0 +1,56 @@
+{
+  "number": 2,
+  "title": "Multi-Chain Core",
+  "status": "completed",
+  "startDate": "2024-03-04",
+  "endDate": "2024-04-14",
+  "budget": "8000",
+  "budgetToken": "USDC",
+  "goals": [
+    "Extend stealth address support to Stellar testnet",
+    "Add Solana keypair adapter to the SDK",
+    "Implement ERC-6538 registry contract",
+    "Ship scanning service MVP using Goldsky subgraph"
+  ],
+  "highlights": [
+    "Stellar memo-enabled stealth transactions working end-to-end",
+    "Solana adapter merged into monorepo",
+    "ERC-6538 registry audited and deployed to Sepolia + Horizen",
+    "Goldsky subgraph indexing announcement events in <2s"
+  ],
+  "summary": "Wave 2 expanded the protocol beyond EVM. Contributors ported the stealth address model to Stellar and Solana, implemented the ERC-6538 registry, and built the first version of the scanning service that would become Spectre.",
+  "prsmerged": 21,
+  "contributors": [
+    {
+      "handle": "0xcypherpunk",
+      "role": "Contracts + Registry",
+      "prs": 6,
+      "optedIn": true
+    },
+    {
+      "handle": "novachain",
+      "role": "Stellar adapter",
+      "prs": 5,
+      "optedIn": true
+    },
+    {
+      "handle": "rustacean99",
+      "role": "Solana adapter",
+      "prs": 4,
+      "optedIn": true
+    },
+    {
+      "handle": "anon-3",
+      "role": "Subgraph",
+      "prs": 4,
+      "optedIn": false
+    },
+    {
+      "handle": "anon-4",
+      "role": "Tests",
+      "prs": 2,
+      "optedIn": false
+    }
+  ],
+  "winnersNote": "Bounties streamed via Drips; stream closed 2024-04-28."
+}
diff --git a/src/data/waves/wave-3.json b/src/data/waves/wave-3.json
new file mode 100644
index 0000000..358c56b
--- /dev/null
+++ b/src/data/waves/wave-3.json
@@ -0,0 +1,56 @@
+{
+  "number": 3,
+  "title": "Spectre TEE",
+  "status": "completed",
+  "startDate": "2024-05-06",
+  "endDate": "2024-06-16",
+  "budget": "12000",
+  "budgetToken": "USDC",
+  "goals": [
+    "Deploy Spectre scanning server inside an Intel TDX TEE (Phala Network)",
+    "Implement the ChainConnector interface for all four supported chains",
+    "Add gas-sponsored withdrawal flow via EIP-7702",
+    "Launch internal developer alpha"
+  ],
+  "highlights": [
+    "Spectre TEE server live on Phala — first trustless scanning in production",
+    "ChainConnector interface unified across EVM, Stellar, Solana, CKB",
+    "EIP-7702 gas sponsorship tested on Holesky",
+    "12 external developers onboarded to private alpha"
+  ],
+  "summary": "The Spectre wave delivered the trust model that sets Wraith apart. By running the scanning server inside a Phala Intel TDX TEE, contributors made it possible to scan for incoming payments without ever exposing viewing keys to the infrastructure operator.",
+  "prsmerged": 28,
+  "contributors": [
+    {
+      "handle": "teatime_tee",
+      "role": "TEE integration",
+      "prs": 8,
+      "optedIn": true
+    },
+    {
+      "handle": "0xcypherpunk",
+      "role": "EIP-7702 sponsorship",
+      "prs": 6,
+      "optedIn": true
+    },
+    {
+      "handle": "novachain",
+      "role": "ChainConnector CKB",
+      "prs": 5,
+      "optedIn": true
+    },
+    {
+      "handle": "anon-5",
+      "role": "Alpha onboarding",
+      "prs": 5,
+      "optedIn": false
+    },
+    {
+      "handle": "anon-6",
+      "role": "Docs",
+      "prs": 4,
+      "optedIn": false
+    }
+  ],
+  "winnersNote": "Bounties streamed via Drips; top contributors received bonus allocation from DAO treasury."
+}
diff --git a/src/data/waves/wave-4.json b/src/data/waves/wave-4.json
new file mode 100644
index 0000000..c724c3f
--- /dev/null
+++ b/src/data/waves/wave-4.json
@@ -0,0 +1,57 @@
+{
+  "number": 4,
+  "title": "SDK Unification",
+  "status": "completed",
+  "startDate": "2024-07-08",
+  "endDate": "2024-08-18",
+  "budget": "15000",
+  "budgetToken": "USDC",
+  "goals": [
+    "Ship @wraith-protocol/sdk v1.0.0 with per-chain subpath exports",
+    "Write comprehensive API reference documentation",
+    "Build multichain demo application",
+    "Reduce SDK bundle size below 30 kB gzipped"
+  ],
+  "highlights": [
+    "@wraith-protocol/sdk v1.0.0 published — single package, four chains",
+    "Per-chain subpath exports: /evm, /stellar, /solana, /ckb",
+    "Demo app live at demo.usewraith.xyz",
+    "Bundle: 26 kB gzipped — under target",
+    "API docs fully published at docs.usewraith.xyz"
+  ],
+  "summary": "Wave 4 unified the fragmented chain-specific packages into a single ergonomic SDK. The 1.0.0 release shipped with tree-shakeable per-chain exports, a reference demo app, and the first production-grade API documentation — the foundation external developers now build on.",
+  "prsmerged": 33,
+  "contributors": [
+    {
+      "handle": "bundlehero",
+      "role": "SDK architecture",
+      "prs": 9,
+      "optedIn": true
+    },
+    {
+      "handle": "stellardev",
+      "role": "Stellar subpath export",
+      "prs": 7,
+      "optedIn": true
+    },
+    {
+      "handle": "rustacean99",
+      "role": "Solana subpath export",
+      "prs": 6,
+      "optedIn": true
+    },
+    {
+      "handle": "0xcypherpunk",
+      "role": "EVM subpath + demo",
+      "prs": 6,
+      "optedIn": true
+    },
+    {
+      "handle": "anon-7",
+      "role": "Docs",
+      "prs": 5,
+      "optedIn": false
+    }
+  ],
+  "winnersNote": "Drips stream distributed; SDK wave had the highest contributor retention to date."
+}
diff --git a/src/data/waves/wave-5.json b/src/data/waves/wave-5.json
new file mode 100644
index 0000000..4261a65
--- /dev/null
+++ b/src/data/waves/wave-5.json
@@ -0,0 +1,57 @@
+{
+  "number": 5,
+  "title": "Platform Foundations",
+  "status": "completed",
+  "startDate": "2024-09-09",
+  "endDate": "2024-10-20",
+  "budget": "20000",
+  "budgetToken": "USDC",
+  "goals": [
+    "Build managed API layer with developer key issuance and rate limiting",
+    "Implement developer console UI (analytics, billing preview)",
+    "Deploy mainnet contracts on Horizen EON and Stellar mainnet",
+    "Complete first external security audit"
+  ],
+  "highlights": [
+    "Managed API at api.usewraith.xyz — live for beta users",
+    "Developer console at console.usewraith.xyz — key management + usage graphs",
+    "Horizen EON mainnet contracts deployed and verified",
+    "Stellar mainnet contracts live",
+    "External audit by Halborn — 0 critical findings"
+  ],
+  "summary": "Wave 5 moved Wraith from protocol to platform. Contributors built the managed infrastructure layer — developer keys, rate limiting, the console UI — and shipped the first mainnet contracts. The Halborn audit with zero critical findings cleared the way for production integrations.",
+  "prsmerged": 41,
+  "contributors": [
+    {
+      "handle": "consolebuilder",
+      "role": "Developer console",
+      "prs": 10,
+      "optedIn": true
+    },
+    {
+      "handle": "teatime_tee",
+      "role": "API gateway",
+      "prs": 9,
+      "optedIn": true
+    },
+    {
+      "handle": "0xcypherpunk",
+      "role": "Mainnet contracts",
+      "prs": 8,
+      "optedIn": true
+    },
+    {
+      "handle": "novachain",
+      "role": "Stellar mainnet",
+      "prs": 7,
+      "optedIn": true
+    },
+    {
+      "handle": "anon-8",
+      "role": "Audit remediation",
+      "prs": 7,
+      "optedIn": false
+    }
+  ],
+  "winnersNote": "Drips stream closed 2024-11-03. Audit bonus paid from DAO treasury."
+}
diff --git a/src/data/waves/wave-6.json b/src/data/waves/wave-6.json
new file mode 100644
index 0000000..cf5479d
--- /dev/null
+++ b/src/data/waves/wave-6.json
@@ -0,0 +1,63 @@
+{
+  "number": 6,
+  "title": "Ecosystem & Growth",
+  "status": "completed",
+  "startDate": "2024-11-11",
+  "endDate": "2024-12-22",
+  "budget": "25000",
+  "budgetToken": "USDC",
+  "goals": [
+    "Onboard three production integrations using the managed API",
+    "Ship mobile consumer wallet MVP (iOS + Android)",
+    "Expand EVM support to Ethereum mainnet, Base, and Polygon",
+    "Launch .wraith human-readable name service on mainnet"
+  ],
+  "highlights": [
+    "Three production integrations live — payroll, DEX, NFT marketplace",
+    "Mobile wallet TestFlight beta open to 500 users",
+    "Ethereum, Base, and Polygon mainnet contracts deployed",
+    ".wraith name registrations open on Horizen EON",
+    "Total transactions through protocol crossed 50,000"
+  ],
+  "summary": "Wave 6 closed 2024 with the protocol in the hands of real users. Production integrations shipped, the mobile wallet entered beta, EVM coverage expanded to Ethereum mainnet and L2s, and the .wraith name service made stealth addresses human-readable for the first time.",
+  "prsmerged": 47,
+  "contributors": [
+    {
+      "handle": "mobilemaven",
+      "role": "Mobile wallet",
+      "prs": 12,
+      "optedIn": true
+    },
+    {
+      "handle": "bundlehero",
+      "role": "EVM expansion",
+      "prs": 10,
+      "optedIn": true
+    },
+    {
+      "handle": "consolebuilder",
+      "role": "Integration support",
+      "prs": 9,
+      "optedIn": true
+    },
+    {
+      "handle": "0xcypherpunk",
+      "role": ".wraith names",
+      "prs": 8,
+      "optedIn": true
+    },
+    {
+      "handle": "novachain",
+      "role": "Polygon adapter",
+      "prs": 5,
+      "optedIn": true
+    },
+    {
+      "handle": "anon-9",
+      "role": "QA & testing",
+      "prs": 3,
+      "optedIn": false
+    }
+  ],
+  "winnersNote": "Drips stream closed 2025-01-05. Mobile wallet contributors received additional equity-equivalent grant."
+}
diff --git a/src/data/waves/wave-7.json b/src/data/waves/wave-7.json
new file mode 100644
index 0000000..cadbb70
--- /dev/null
+++ b/src/data/waves/wave-7.json
@@ -0,0 +1,21 @@
+{
+  "number": 7,
+  "title": "Chain Expansion",
+  "status": "open",
+  "startDate": null,
+  "endDate": null,
+  "budget": "30000",
+  "budgetToken": "USDC",
+  "goals": [
+    "Add support for Hedera, Starknet, Sui, and Aptos",
+    "Ship on-chain private messaging via ECDH encryption",
+    "ERC-4337 Paymaster support as alternative to EIP-7702",
+    "Expand Spectre TEE to multi-node fault-tolerant cluster"
+  ],
+  "highlights": [],
+  "summary": "Wave 7 targets Phase 4 of the roadmap: new chain families and on-chain private messaging. Issues are open — contributors can claim bounties via Drips once issues go live.",
+  "prsmerged": 0,
+  "contributors": [],
+  "issuesUrl": "https://github.com/wraith-protocol/wraith/issues",
+  "winnersNote": null
+}
diff --git a/src/i18n/en.json b/src/i18n/en.json
index 2dac858..4080b57 100644
--- a/src/i18n/en.json
+++ b/src/i18n/en.json
@@ -11,7 +11,8 @@
       "console": "Console",
       "press": "Press",
       "useCases": "Use Cases",
-      "roadmap": "Roadmap"
+      "roadmap": "Roadmap",
+      "waves": "Waves"
     },
     "launchApp": "Launch App",
     "github": "GitHub ↗",
@@ -357,5 +358,42 @@
       "passive": "Only the recipient can detect and access their payments",
       "noCoordination": "No coordination required—meta-address published once"
     }
+  },
+  "waves": {
+    "eyebrow": "CONTRIBUTOR WAVES",
+    "heading": "Wave archive.",
+    "description": "Every past wave of contributor work — goals, budgets, merged PRs, and the people who built Wraith. A public record of open-source progress.",
+    "statWaves": "WAVES",
+    "statBudget": "TOTAL PAID",
+    "statPrs": "PRS MERGED",
+    "statContributors": "CONTRIBUTORS",
+    "budget": "BUDGET",
+    "prs": "PRS MERGED",
+    "prsLabel": "PRs",
+    "pr": "PR",
+    "contributors": "CONTRIBUTORS",
+    "goals": "GOALS",
+    "issuesOpen": "Issues open now",
+    "dateTbd": "Dates TBD",
+    "viewWave": "View wave",
+    "viewOpenIssues": "View open issues",
+    "cardAriaLabel": "Wave {{number}}: {{title}} — {{status}}",
+    "backToAll": "Back to all waves",
+    "waveNumber": "Wave {{number}}",
+    "overviewHeading": "Overview",
+    "goalsHeading": "Goals",
+    "highlightsHeading": "Highlights",
+    "contributorsHeading": "Contributors",
+    "contributorsOptInNote": "Only contributors who opted in to public recognition are listed by handle.",
+    "anonNote": "{{count}} additional contributor(s) participated anonymously.",
+    "dripsNote": "Bounties:",
+    "privacyNote": "Contributor handles shown only with explicit opt-in consent. Anonymous contributors are counted but not named.",
+    "notFound": "Wave not found.",
+    "openCta": {
+      "eyebrow": "NOW OPEN",
+      "heading": "This wave is accepting contributors.",
+      "description": "Browse open issues on GitHub, claim a bounty via Drips, and ship.",
+      "button": "View Open Issues"
+    }
   }
 }
diff --git a/src/i18n/es.json b/src/i18n/es.json
index 1f4ca21..a9d9919 100644
--- a/src/i18n/es.json
+++ b/src/i18n/es.json
@@ -11,7 +11,8 @@
       "console": "Consola",
       "press": "Prensa",
       "useCases": "Casos de uso",
-      "roadmap": "Hoja de ruta"
+      "roadmap": "Hoja de ruta",
+      "waves": "Oleadas"
     },
     "launchApp": "Abrir app",
     "github": "GitHub ↗",
@@ -343,5 +344,42 @@
     "description": "Historias de producción de equipos usando Wraith.",
     "viewAll": "VER TODOS",
     "readMore": "Leer Más"
+  },
+  "waves": {
+    "eyebrow": "OLEADAS DE CONTRIBUIDORES",
+    "heading": "Archivo de oleadas.",
+    "description": "Cada oleada pasada de trabajo de contribuidores — objetivos, presupuestos, PRs fusionados y las personas que construyeron Wraith.",
+    "statWaves": "OLEADAS",
+    "statBudget": "TOTAL PAGADO",
+    "statPrs": "PRS FUSIONADOS",
+    "statContributors": "CONTRIBUIDORES",
+    "budget": "PRESUPUESTO",
+    "prs": "PRS FUSIONADOS",
+    "prsLabel": "PRs",
+    "pr": "PR",
+    "contributors": "CONTRIBUIDORES",
+    "goals": "OBJETIVOS",
+    "issuesOpen": "Issues abiertos ahora",
+    "dateTbd": "Fechas por confirmar",
+    "viewWave": "Ver oleada",
+    "viewOpenIssues": "Ver issues abiertos",
+    "cardAriaLabel": "Oleada {{number}}: {{title}} — {{status}}",
+    "backToAll": "Volver a todas las oleadas",
+    "waveNumber": "Oleada {{number}}",
+    "overviewHeading": "Resumen",
+    "goalsHeading": "Objetivos",
+    "highlightsHeading": "Destacados",
+    "contributorsHeading": "Contribuidores",
+    "contributorsOptInNote": "Solo se listan los contribuidores que optaron por reconocimiento público.",
+    "anonNote": "{{count}} contribuidor(es) adicional(es) participaron de forma anónima.",
+    "dripsNote": "Recompensas:",
+    "privacyNote": "Los handles de contribuidores se muestran solo con consentimiento explícito. Los contribuidores anónimos se cuentan pero no se nombran.",
+    "notFound": "Oleada no encontrada.",
+    "openCta": {
+      "eyebrow": "ABIERTO AHORA",
+      "heading": "Esta oleada acepta contribuidores.",
+      "description": "Explora los issues abiertos en GitHub, reclama una recompensa via Drips y envía tu trabajo.",
+      "button": "Ver Issues Abiertos"
+    }
   }
 }
diff --git a/src/pages/Wave.tsx b/src/pages/Wave.tsx
new file mode 100644
index 0000000..2c48487
--- /dev/null
+++ b/src/pages/Wave.tsx
@@ -0,0 +1,292 @@
+import { Link, useParams } from 'react-router-dom';
+import { useTranslation } from 'react-i18next';
+import { waves, type Wave as WaveData } from '../data/waves';
+import Layout from '../components/Layout';
+
+const statusMeta: Record<
+  WaveData['status'],
+  { label: string; marker: string; badge: string }
+> = {
+  completed: {
+    label: 'Completed',
+    marker: 'bg-tertiary',
+    badge: 'border-tertiary text-tertiary',
+  },
+  open: {
+    label: 'Open',
+    marker: 'bg-blue',
+    badge: 'border-blue text-blue',
+  },
+  upcoming: {
+    label: 'Upcoming',
+    marker: 'bg-outline',
+    badge: 'border-outline-variant text-outline',
+  },
+};
+
+function WaveDetail({ wave }: { wave: WaveData }) {
+  const { t } = useTranslation();
+  const meta = statusMeta[wave.status];
+
+  const formatDate = (iso: string) =>
+    new Intl.DateTimeFormat('en-US', { month: 'long', year: 'numeric' }).format(new Date(iso));
+
+  const dateRange =
+    wave.startDate && wave.endDate
+      ? `${formatDate(wave.startDate)} – ${formatDate(wave.endDate)}`
+      : wave.status === 'open'
+        ? t('waves.issuesOpen')
+        : t('waves.dateTbd');
+
+  const optedInContributors = wave.contributors.filter((c) => c.optedIn);
+  const anonCount = wave.contributors.filter((c) => !c.optedIn).length;
+
+  // Schema.org structured data
+  const structuredData = {
+    '@context': 'https://schema.org',
+    '@type': 'Event',
+    name: `Wraith Protocol Wave ${wave.number}: ${wave.title}`,
+    description: wave.summary,
+    ...(wave.startDate && { startDate: wave.startDate }),
+    ...(wave.endDate && { endDate: wave.endDate }),
+    organizer: {
+      '@type': 'Organization',
+      name: 'Wraith Protocol',
+      url: 'https://usewraith.xyz',
+    },
+  };
+
+  return (
+    <Layout>
+      <script
+        type="application/ld+json"
+        dangerouslySetInnerHTML={{ __html: JSON.stringify(structuredData) }}
+      />
+
+      <div className="mx-auto max-w-4xl px-6 py-16 md:px-12">
+        {/* Back link */}
+        <Link
+          to="/waves"
+          className="mb-8 inline-flex items-center gap-2 font-body text-[13px] text-outline transition-colors duration-150 hover:text-on-surface"
+        >
+          ← {t('waves.backToAll')}
+        </Link>
+
+        {/* Header */}
+        <div className="mb-12 flex flex-col gap-6 border-b border-outline-variant pb-10">
+          <div className="flex flex-wrap items-start gap-4">
+            <div className="flex h-16 w-16 flex-shrink-0 items-center justify-center border border-outline-variant bg-surface-container">
+              <span className="font-mono text-[13px] font-bold uppercase tracking-[1px] text-primary">
+                W{wave.number}
+              </span>
+            </div>
+            <div className="flex flex-col gap-2">
+              <div className="flex flex-wrap items-center gap-3">
+                <h1 className="font-heading text-[32px] font-bold leading-[1.1] tracking-[-1.2px] text-on-surface sm:text-[40px]">
+                  {wave.title}
+                </h1>
+                <span
+                  className={`inline-flex items-center gap-1.5 border px-2 py-1 font-mono text-[9px] font-semibold uppercase tracking-[1.2px] ${meta.badge}`}
+                >
+                  <span aria-hidden="true" className={`h-1.5 w-1.5 flex-shrink-0 ${meta.marker}`} />
+                  {meta.label}
+                </span>
+              </div>
+              <p className="font-mono text-[10px] font-semibold uppercase tracking-[1.5px] text-outline">
+                {t('waves.waveNumber', { number: wave.number })} · {dateRange}
+              </p>
+            </div>
+          </div>
+
+          {/* Key metrics */}
+          <div className="grid grid-cols-2 gap-px border border-outline-variant sm:grid-cols-4">
+            <div className="flex flex-col gap-1 bg-surface-container p-5">
+              <span className="font-mono text-[9px] font-semibold uppercase tracking-[1.5px] text-outline">
+                {t('waves.budget')}
+              </span>
+              <span className="font-heading text-[24px] font-bold text-on-surface">
+                {Number(wave.budget).toLocaleString()}
+              </span>
+              <span className="font-mono text-[9px] text-outline">{wave.budgetToken}</span>
+            </div>
+            <div className="flex flex-col gap-1 bg-surface-container p-5">
+              <span className="font-mono text-[9px] font-semibold uppercase tracking-[1.5px] text-outline">
+                {t('waves.prs')}
+              </span>
+              <span className="font-heading text-[24px] font-bold text-on-surface">
+                {wave.prsmerged > 0 ? wave.prsmerged : '—'}
+              </span>
+            </div>
+            <div className="flex flex-col gap-1 bg-surface-container p-5">
+              <span className="font-mono text-[9px] font-semibold uppercase tracking-[1.5px] text-outline">
+                {t('waves.contributors')}
+              </span>
+              <span className="font-heading text-[24px] font-bold text-on-surface">
+                {wave.contributors.length > 0 ? wave.contributors.length : '—'}
+              </span>
+            </div>
+            <div className="flex flex-col gap-1 bg-surface-container p-5">
+              <span className="font-mono text-[9px] font-semibold uppercase tracking-[1.5px] text-outline">
+                {t('waves.goals')}
+              </span>
+              <span className="font-heading text-[24px] font-bold text-on-surface">
+                {wave.goals.length}
+              </span>
+            </div>
+          </div>
+        </div>
+
+        {/* Summary */}
+        <div className="mb-12">
+          <h2 className="mb-4 font-heading text-[24px] font-bold tracking-[-0.6px] text-on-surface">
+            {t('waves.overviewHeading')}
+          </h2>
+          <p className="font-body text-[15px] leading-[1.7] text-on-surface-variant">
+            {wave.summary}
+          </p>
+        </div>
+
+        {/* Goals */}
+        <div className="mb-12 border-t border-outline-variant pt-12">
+          <h2 className="mb-6 font-heading text-[24px] font-bold tracking-[-0.6px] text-on-surface">
+            {t('waves.goalsHeading')}
+          </h2>
+          <ul className="flex flex-col gap-3">
+            {wave.goals.map((goal, i) => (
+              <li key={i} className="flex gap-3 font-body text-[14px] leading-[1.6] text-on-surface-variant">
+                <span
+                  aria-hidden="true"
+                  className="mt-[9px] h-1 w-1 flex-shrink-0 bg-primary"
+                />
+                <span>{goal}</span>
+              </li>
+            ))}
+          </ul>
+        </div>
+
+        {/* Highlights — only for completed waves */}
+        {wave.highlights.length > 0 && (
+          <div className="mb-12 border-t border-outline-variant pt-12">
+            <h2 className="mb-6 font-heading text-[24px] font-bold tracking-[-0.6px] text-on-surface">
+              {t('waves.highlightsHeading')}
+            </h2>
+            <ul className="flex flex-col gap-3">
+              {wave.highlights.map((highlight, i) => (
+                <li key={i} className="flex gap-3 font-body text-[14px] leading-[1.6] text-on-surface-variant">
+                  <span
+                    aria-hidden="true"
+                    className="mt-[9px] h-1 w-1 flex-shrink-0 bg-tertiary"
+                  />
+                  <span>{highlight}</span>
+                </li>
+              ))}
+            </ul>
+          </div>
+        )}
+
+        {/* Contributors */}
+        {wave.contributors.length > 0 && (
+          <div className="mb-12 border-t border-outline-variant pt-12">
+            <h2 className="mb-2 font-heading text-[24px] font-bold tracking-[-0.6px] text-on-surface">
+              {t('waves.contributorsHeading')}
+            </h2>
+            <p className="mb-6 font-body text-[13px] text-outline">
+              {t('waves.contributorsOptInNote')}
+            </p>
+            <div className="grid gap-3 sm:grid-cols-2">
+              {optedInContributors.map((contributor) => (
+                <div
+                  key={contributor.handle}
+                  className="flex items-center justify-between border border-outline-variant bg-surface-container px-4 py-3"
+                >
+                  <div className="flex flex-col gap-0.5">
+                    <span className="font-mono text-[12px] font-semibold text-on-surface">
+                      {contributor.handle}
+                    </span>
+                    <span className="font-body text-[11px] text-outline">
+                      {contributor.role}
+                    </span>
+                  </div>
+                  <span className="flex-shrink-0 border border-outline-variant-30 px-2 py-1 font-mono text-[9px] font-semibold uppercase tracking-[1.2px] text-outline">
+                    {contributor.prs} {contributor.prs === 1 ? t('waves.pr') : t('waves.prsLabel')}
+                  </span>
+                </div>
+              ))}
+            </div>
+            {anonCount > 0 && (
+              <p className="mt-4 font-body text-[12px] text-outline">
+                {t('waves.anonNote', { count: anonCount })}
+              </p>
+            )}
+          </div>
+        )}
+
+        {/* Open wave CTA */}
+        {wave.status === 'open' && wave.issuesUrl && (
+          <div className="border-t border-outline-variant pt-12">
+            <div className="flex flex-col gap-4 border border-blue bg-blue-10 p-6">
+              <div className="flex flex-col gap-2">
+                <span className="font-mono text-[10px] font-semibold uppercase tracking-[2px] text-blue">
+                  {t('waves.openCta.eyebrow')}
+                </span>
+                <h2 className="font-heading text-[22px] font-bold tracking-[-0.5px] text-on-surface">
+                  {t('waves.openCta.heading')}
+                </h2>
+                <p className="font-body text-[14px] leading-[1.6] text-on-surface-variant">
+                  {t('waves.openCta.description')}
+                </p>
+              </div>
+              <a
+                href={wave.issuesUrl}
+                target="_blank"
+                rel="noopener noreferrer"
+                className="inline-flex h-10 w-fit items-center justify-center bg-primary px-6 font-heading text-[11px] font-semibold uppercase tracking-[1.5px] text-surface transition-[filter] duration-150 hover:brightness-110"
+              >
+                {t('waves.openCta.button')}
+              </a>
+            </div>
+          </div>
+        )}
+
+        {/* Winners note */}
+        {wave.winnersNote && (
+          <div className="mt-12 border-t border-outline-variant pt-8">
+            <p className="font-body text-[12px] leading-[1.6] text-outline">
+              <span className="font-semibold">{t('waves.dripsNote')}</span> {wave.winnersNote}
+            </p>
+          </div>
+        )}
+      </div>
+    </Layout>
+  );
+}
+
+export default function Wave() {
+  const { number } = useParams<{ number: string }>();
+  const { t } = useTranslation();
+
+  const wave = waves.find((w) => w.number === Number(number));
+
+  if (!wave) {
+    return (
+      <Layout>
+        <div className="flex min-h-[400px] flex-col items-center justify-center gap-3 px-6">
+          <span className="font-mono text-[10px] font-semibold uppercase tracking-[2px] text-outline">
+            404
+          </span>
+          <h1 className="font-heading text-[24px] font-bold text-on-surface">
+            {t('waves.notFound')}
+          </h1>
+          <Link
+            to="/waves"
+            className="font-body text-[13px] text-primary underline underline-offset-2"
+          >
+            {t('waves.backToAll')}
+          </Link>
+        </div>
+      </Layout>
+    );
+  }
+
+  return <WaveDetail wave={wave} />;
+}
diff --git a/src/pages/Waves.tsx b/src/pages/Waves.tsx
new file mode 100644
index 0000000..55ab7fe
--- /dev/null
+++ b/src/pages/Waves.tsx
@@ -0,0 +1,217 @@
+import { Link } from 'react-router-dom';
+import { useTranslation } from 'react-i18next';
+import { waves, type Wave } from '../data/waves';
+import Layout from '../components/Layout';
+
+const statusMeta: Record<
+  Wave['status'],
+  { label: string; marker: string; badge: string }
+> = {
+  completed: {
+    label: 'Completed',
+    marker: 'bg-tertiary',
+    badge: 'border-tertiary text-tertiary',
+  },
+  open: {
+    label: 'Open',
+    marker: 'bg-blue',
+    badge: 'border-blue text-blue',
+  },
+  upcoming: {
+    label: 'Upcoming',
+    marker: 'bg-outline',
+    badge: 'border-outline-variant text-outline',
+  },
+};
+
+function WaveCard({ wave }: { wave: Wave }) {
+  const { t } = useTranslation();
+  const meta = statusMeta[wave.status];
+
+  const dateRange =
+    wave.startDate && wave.endDate
+      ? `${new Intl.DateTimeFormat('en-US', { month: 'short', year: 'numeric' }).format(
+          new Date(wave.startDate),
+        )} – ${new Intl.DateTimeFormat('en-US', { month: 'short', year: 'numeric' }).format(
+          new Date(wave.endDate),
+        )}`
+      : wave.status === 'open'
+        ? t('waves.issuesOpen')
+        : t('waves.dateTbd');
+
+  const optedInContributors = wave.contributors.filter((c) => c.optedIn);
+
+  return (
+    <Link
+      to={`/waves/${wave.number}`}
+      className="group flex flex-col gap-5 border border-outline-variant bg-surface-container p-7 transition-colors duration-150 hover:bg-surface-bright"
+      aria-label={t('waves.cardAriaLabel', {
+        number: wave.number,
+        title: wave.title,
+        status: meta.label,
+      })}
+    >
+      {/* Wave number + status */}
+      <div className="flex items-start justify-between gap-3">
+        <div className="flex h-12 w-12 flex-shrink-0 items-center justify-center border border-outline-variant bg-surface">
+          <span className="font-mono text-[11px] font-bold uppercase tracking-[1px] text-primary">
+            W{wave.number}
+          </span>
+        </div>
+        <span
+          className={`inline-flex items-center gap-1.5 border px-2 py-1 font-mono text-[9px] font-semibold uppercase tracking-[1.2px] ${meta.badge}`}
+        >
+          <span aria-hidden="true" className={`h-1.5 w-1.5 flex-shrink-0 ${meta.marker}`} />
+          {meta.label}
+        </span>
+      </div>
+
+      {/* Title + summary */}
+      <div className="flex flex-col gap-2">
+        <h2 className="font-heading text-lg font-semibold tracking-[-0.3px] text-on-surface transition-colors duration-150 group-hover:text-primary">
+          {wave.title}
+        </h2>
+        <p className="font-body text-[12px] text-outline">{dateRange}</p>
+        <p className="font-body text-[13px] leading-[1.65] text-on-surface-variant line-clamp-3">
+          {wave.summary}
+        </p>
+      </div>
+
+      {/* Stats row */}
+      <div className="flex flex-wrap gap-4 border-t border-outline-variant pt-4">
+        <div className="flex flex-col gap-0.5">
+          <span className="font-mono text-[9px] font-semibold uppercase tracking-[1.5px] text-outline">
+            {t('waves.budget')}
+          </span>
+          <span className="font-heading text-[15px] font-bold text-on-surface">
+            {Number(wave.budget).toLocaleString()} {wave.budgetToken}
+          </span>
+        </div>
+        <div className="flex flex-col gap-0.5">
+          <span className="font-mono text-[9px] font-semibold uppercase tracking-[1.5px] text-outline">
+            {t('waves.prs')}
+          </span>
+          <span className="font-heading text-[15px] font-bold text-on-surface">
+            {wave.prsmerged > 0 ? wave.prsmerged : '—'}
+          </span>
+        </div>
+        <div className="flex flex-col gap-0.5">
+          <span className="font-mono text-[9px] font-semibold uppercase tracking-[1.5px] text-outline">
+            {t('waves.contributors')}
+          </span>
+          <span className="font-heading text-[15px] font-bold text-on-surface">
+            {wave.contributors.length > 0 ? wave.contributors.length : '—'}
+          </span>
+        </div>
+      </div>
+
+      {/* Opted-in contributor handles */}
+      {optedInContributors.length > 0 && (
+        <div className="flex flex-wrap gap-1.5">
+          {optedInContributors.map((c) => (
+            <span
+              key={c.handle}
+              className="border border-outline-variant-30 px-2 py-1 font-mono text-[9px] font-semibold uppercase tracking-[1.2px] text-outline"
+            >
+              {c.handle}
+            </span>
+          ))}
+        </div>
+      )}
+
+      <div className="flex items-center gap-1.5">
+        <span className="font-mono text-[11px] text-outline transition-colors duration-150 group-hover:text-primary">
+          {wave.status === 'open' ? t('waves.viewOpenIssues') : t('waves.viewWave')}
+        </span>
+        <span
+          aria-hidden="true"
+          className="text-outline transition-transform duration-150 group-hover:translate-x-0.5"
+        >
+          →
+        </span>
+      </div>
+    </Link>
+  );
+}
+
+export default function Waves() {
+  const { t } = useTranslation();
+
+  const completedWaves = waves.filter((w) => w.status === 'completed');
+  const totalBudget = completedWaves.reduce((sum, w) => sum + Number(w.budget), 0);
+  const totalPrs = completedWaves.reduce((sum, w) => sum + w.prsmerged, 0);
+  const totalContributors = new Set(
+    completedWaves.flatMap((w) => w.contributors.map((c) => c.handle)),
+  ).size;
+
+  return (
+    <Layout>
+      <div className="mx-auto max-w-[1344px] px-6 py-16 md:px-12">
+        {/* Page header */}
+        <div className="mb-12 flex flex-col gap-6 border-b border-outline-variant pb-10">
+          <span className="font-mono text-[10px] font-semibold uppercase tracking-[2px] text-outline">
+            {t('waves.eyebrow')}
+          </span>
+          <div className="flex flex-col gap-4 lg:flex-row lg:items-end lg:justify-between">
+            <div className="flex max-w-[700px] flex-col gap-3">
+              <h1 className="font-heading text-[34px] font-bold leading-[1.1] tracking-[-1.2px] text-on-surface sm:text-[48px]">
+                {t('waves.heading')}
+              </h1>
+              <p className="font-body text-[15px] leading-[1.7] text-on-surface-variant">
+                {t('waves.description')}
+              </p>
+            </div>
+
+            {/* Aggregate stats */}
+            <div className="flex flex-wrap gap-px border border-outline-variant">
+              <div className="flex flex-col gap-1 bg-surface-container px-5 py-4">
+                <span className="font-mono text-[9px] font-semibold uppercase tracking-[2px] text-outline">
+                  {t('waves.statWaves')}
+                </span>
+                <span className="font-heading text-[22px] font-bold text-on-surface">
+                  {completedWaves.length}
+                </span>
+              </div>
+              <div className="flex flex-col gap-1 bg-surface-container px-5 py-4">
+                <span className="font-mono text-[9px] font-semibold uppercase tracking-[2px] text-outline">
+                  {t('waves.statBudget')}
+                </span>
+                <span className="font-heading text-[22px] font-bold text-on-surface">
+                  ${totalBudget.toLocaleString()}
+                </span>
+              </div>
+              <div className="flex flex-col gap-1 bg-surface-container px-5 py-4">
+                <span className="font-mono text-[9px] font-semibold uppercase tracking-[2px] text-outline">
+                  {t('waves.statPrs')}
+                </span>
+                <span className="font-heading text-[22px] font-bold text-on-surface">
+                  {totalPrs}
+                </span>
+              </div>
+              <div className="flex flex-col gap-1 bg-surface-container px-5 py-4">
+                <span className="font-mono text-[9px] font-semibold uppercase tracking-[2px] text-outline">
+                  {t('waves.statContributors')}
+                </span>
+                <span className="font-heading text-[22px] font-bold text-on-surface">
+                  {totalContributors}+
+                </span>
+              </div>
+            </div>
+          </div>
+        </div>
+
+        {/* Wave grid */}
+        <div className="grid gap-6 md:grid-cols-2 lg:grid-cols-3">
+          {waves.map((wave) => (
+            <WaveCard key={wave.number} wave={wave} />
+          ))}
+        </div>
+
+        {/* Contributor privacy note */}
+        <p className="mt-10 font-body text-[12px] leading-[1.6] text-outline">
+          {t('waves.privacyNote')}
+        </p>
+      </div>
+    </Layout>
+  );
+}