The airdrop coin surged 542% on its first day, looking at the wealth effect of WXT from WE-Launch

The WEEX Token (WXT), the platform token of the WEEX exchange, which had previously surged for 11 consecutive days after its launch, is once again showcasing its value potential. Recently, as the cryptocurrency market trend gradually recovers from the pullback in August, WXT has resumed its upward momentum, with its rebound even surpassing Bitcoin, now only 4% away from its ATH, while BTC, ETH, BNB, and SOL are still 13%, 46%, 16%, and 42% away from their ATHs, respectively.

WXT's leading surge is attributed not only to the continuous positive news surrounding the WEEX exchange but also to the ongoing realization of WXT's empowering rights.

WEEX Platform's Frequent Good News

This summer, in addition to the launch of the platform token WXT, WEEX's other businesses have also made significant progress.

User Count Exceeds 3 Million, Ranking Among the Top Five Derivatives Exchanges

Since the beginning of this year, WEEX has continuously attracted new users through activities such as zero trading fees on spot trading and zero fees on popular contracts. By June 2024, just before the release of the WXT white paper, WEEX's registered users had just surpassed 2 million, and in just three months, the user count exceeded 3 million, showing explosive growth.

With the explosive growth in user scale, WEEX's platform trading volume has repeatedly set historical records, currently ranking fifth among derivatives exchanges on CoinGecko. According to CMC's derivatives exchange ranking, WEEX is ranked 14th, with a 24-hour trading volume of approximately $2 billion.

Number of Contract Pairs Exceeds 400, Ranking Among the Top Five in the Network

The number of trading pairs was once a shortcoming for WEEX, which had only a few dozen mainstream coins for a long time, affecting user trading enthusiasm and becoming a bottleneck for platform traffic growth. Since the second half of 2023, WEEX has accelerated its listing pace, striving to catch up and fill this gap. Now, after a year, the number of contract trading pairs supported by the WEEX platform has reached 426, ranking fifth among derivatives exchanges on CoinGecko, just behind MEXC (504), XT.COM (467), Bybit (458), and Gate.io (452).

In terms of spot trading pairs, WEEX is also competitive with leading platforms. CMC data shows that WEEX has listed 520 spot trading pairs, surpassing Binance (424), Coinbase (256), OKX (308), and others.

From Asia to North America, WEEX Accelerates Globalization

In 2023, WEEX began localized operations in the Korean and Vietnamese markets. In 2024, WEEX hired former MEXC Global VP Andrew Weiner as VP, leveraging Andrew's extensive industry resources and market experience to accelerate the expansion into the North American market.

WEEX holds dual MSB licenses in the U.S. and Canada, making it one of the few overseas platforms unrestricted in North America. With a rich selection of trading coins, top-notch depth experience, and ultra-low fee advantages, WEEX has attracted communities such as K9 Finance DAO, BleedingCrypto Community, and SamPrice Community to become channel partners, leading to rapid growth in its global user base. Additionally, WEEX has launched the WEEX Masons program for global crypto influencers to further expand its channel partner network.

In June of this year, WEEX reached a strategic cooperation with the SHIB ecosystem, becoming the preferred CEX cooperation platform for Shibarium hackathon and global developer community qualified new projects. The two parties also jointly sponsored Canada's largest Web3 event, the Blockchain Futurist Conference, becoming one of only two exchange sponsors alongside Coinbase.

Moreover, WEEX sponsored the FORESIGHT 2024 event in Hong Kong and participated in events such as Austin Consensus 2024 and TOKEN2049 in Singapore, continuously raising its industry profile.

Accelerating Product Iteration, Continuously Enhancing User Experience

Currently, the WEEX team has increased by 55% since the end of April, mainly expanding the R&D, marketing operations, and business teams. According to the HR department's recruitment plan, there will be an additional 40% expansion on top of the current team size, doubling the team size by the end of the year compared to the beginning of the year.

With a significant expansion of the development team, WEEX has accelerated product iteration while maintaining a rapid pace of new listings. Currently, WEEX has completed a comprehensive iteration of the contract Pro compared to the original contract product and the follow-up Pro compared to the original follow-up system, while also launching the newly upgraded WEEX Pro App in public testing. This iteration has undergone over 60 interface optimizations, bringing not only a refreshed visual experience but also achieving multiple performance breakthroughs, with trading speed improved by approximately 50% and space usage reduced by 80%, reaching the experience transformation of leading platforms like Binance and OKX.

In addition to major version iterations, WEEX continuously optimizes product details and functions, such as categorizing contract trading pairs by zero fees and concepts like Solana ecosystem/AI/BRC20/MEME/Web3.0/Arbitrum/Layer2/metaverse/Pow/NFT, integrating TradingView analysis tools, etc., to continuously enhance user experience.

Continuous Realization of WXT Holder Rights

As the ecological incentive token of the WEEX exchange, WXT is endowed with numerous exclusive holding rights. How have the relevant rights been realized since WXT's launch nearly three months ago?

13 Sessions of WE-Launch, TRUTH Surged 542% on the First Day

WE-Launch (formerly known as Launchpool) is one of the important use cases for WXT, allowing WXT holders to receive airdrops of tokens from popular projects before their launch for free. So far, WEEX has launched 13 sessions of WE-Launch projects, airdropping a total of 83,333,333 TRUTH, 37,000 ZK, 252,043,427,718 ELON, 76,659,904 FLOKI, 4,000,000 NEIRO, 840,000,000,000 BAD, 1,000,000 DOGS, 100,000 NEIROETH, 600,000,000 LTD, 35,000,000,000 WHY, 171,250,000 HOPPY, 206 THR, and 100,000 BA to WXT holders. Among them, TRUTH surged 542% on its first day, and HOPPY's price doubled within 9 days, bringing significant profits to WXT holders.

Conducted 7 Sessions of "Sunshine Distribution," Airdropping a Total of 90,000 USDT + $110,000 Trial Funds

"Sunshine Distribution" is another exclusive right for WXT holders, periodically airdropping popular project tokens, USDT, and contract trial funds to users. So far, WEEX has conducted 7 sessions of "Sunshine Distribution," airdropping a total of 90,000 USDT and 110,000 USDT in trial funds to WXT holders.

It is worth noting that, unlike other platform token activities, users do not need to lock or stake WXT to participate in WE-Launch and "Sunshine Distribution"; they only need to register at any time during the activity period to successfully participate. After participating, users can trade or withdraw their held WXT at any time and can also participate in multiple WE-Launch projects and "Sunshine Distribution" airdrop activities simultaneously, with participation eligibility not restricted by the duration of WXT holding or the user's location.

WXT Holders Enjoy Fee Discounts, the Lowest Trading Costs in the Network

WEEX is one of the exchanges with the lowest fees in the network, offering zero fees for spot trading and zero fees for popular contract trading pairs, while other contract trading pairs have a maker fee rate of 0.02% and a taker fee rate of 0.06%. Users who maintain a position of 1,000 WXT for five consecutive days can also enjoy a 10% discount on contract trading fees, further reducing trading costs.

In addition, WXT holders enjoy higher referral commission rates, higher profit-sharing ratios for following trades, VIP exclusive channels for large deposits and withdrawals, and voting rights for new listings.

Notably, according to the white paper, WEEX will regularly use a portion of the platform's profits to repurchase WXT from the secondary market and permanently destroy it until the total supply is reduced to 1 billion, achieving a deflation rate of 90%. This means that even if other valuation conditions for WXT remain unchanged, the repurchase and destruction alone will bring a tenfold appreciation potential, not including indirect benefits from WE-Launch, "Sunshine Distribution" rewards, fee discounts, and more.

In comparison, since its launch, BNB has risen by a maximum of 395,147%, MX by a maximum of 49,698%, OKB by a maximum of 3,608%, and BGB by a maximum of 2,174%. Based on WXT's current increase, everything is just beginning.