WEEX updates WXT white paper: 40% initial burn, future quarterly burns

2025-01-27 20:24:05

Collection

ChainCatcher news, the official website of WEEX exchange updates the WEEX Token (WXT) white paper. The new white paper shows that starting in 2025, WEEX plans to implement a WXT buyback and burn mechanism, with an initial burn of 4 billion WXT (40% of the total supply). After the first burn, the total supply of WXT will be reduced to 6 billion. In the future, there will be a quarterly burn, where 20% of WEEX exchange's quarterly profits will be used to buy back and burn WXT, with the specific quantity burned and on-chain records announced after completion.

WXT is the platform token issued by WEEX exchange, aimed at providing exclusive rights and value returns for WEEX's loyal users and partners. The rights of WXT holders include: WE-Launch popular project token airdrops, enhanced VIP levels with tiered fee rate discounts, higher commission ratios for traders, as well as future rights such as Launchpad, on-chain payments, and platform governance voting.

(Source Link)

Related tags

WEEX WXT destruction mechanism

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.