Low-key launch and slow bull market growth, how does WXT become the "golden shovel" of users?

Recently, WEEX Token (WXT), the platform currency of WEEX Exchange, was officially launched.

As the crypto market continues to adjust, many altcoins have fallen back into the bear market, and the market is like a frightened bird. It seems that WXT is launched at this time at an untimely time. However, after WXT was launched, it only took a short period of washing and then it steadily climbed day by day. As of now, it has accumulated a 20% increase, highlighting the blue chip background and value support of the platform currency in the current panic market atmosphere.

What is the value support of WXT coin? Is it suitable for long-term holding? What are the ways to get WXT airdrops? This article will combine the white paper to introduce WXT's token economic model, holder rights, deflation mechanism, etc. in detail.

Value support: WXT becomes the "golden shovel"

The original intention of issuing WEEX Token (WXT) is to implement WEEX's commitment of "user first, win-win cooperation", share the platform development dividends with users and partners, and use WXT to bind more loyal users and partners to achieve the sustainable long-term development of the WEEX platform.

To this end, WXT is given a basket of currency holders' benefits, including:

Launchpool:Users can participate in the WEEX Launchpool project mining by staking WXT and get free airdrops of popular tokens. So far, WEEX has held 2 Launchpool events, giving away 83,333,333 TRUTH and 37,000 ZK respectively.

Launchpad:WXT holders have priority in participating in the WEEX Launchpad new coin issuance. According to WEEX's 2024 Launchpool & Launchpad plan, the annualized rate of return for holding WXT is as high as 64%.

Fee discount:Use WXT to offset WEEX spot transaction fees and enjoy a 30% fee discount; hold a certain amount of WXT and enjoy an exclusive gradient contract fee discount (currently 20%).

Invitation Reward Upgrade:Hold 100,000 WXT for more than 30 days, and the invitation reward will increase by 15%.

VIP Privilege:Users holding more than 1,000,000 WXT can enjoy the large-amount deposit and withdrawal acceleration service.

Sunshine:Users holding WXT can participate in the airdrop of popular tokens, including various project tokens, USDT experience funds, etc.

Holding Coins to Earn Interest:WXT holders can earn additional interest rewards on specific financial products in the future.

Vote for Coin Listing:Hold a certain amount of WXT to enjoy the privilege of coin listing.

This series of currency holding rights makes WXT a "golden shovel" for obtaining airdrops, fee reductions, and reward upgrades, which will continue to bring wealth benefits to holders and lay the foundation for the value of WXT.

Ecological cornerstone: 55% WXT incentive community

WXT is set as a global ecological incentive token to incentivize partners, contributors, pioneers and active members of the WEEX exchange community. From the perspective of the token economic model, 55% of the tokens will be allocated to active users, partners and team contributors, and a lock-up period of up to 10 years will be set to ensure the orderly realization of WEEX's long-term strategy and phased goals.

Activity new users: 1 billion WXT (10%), 1% released each year, and 0.25% has been released. Used to attract new rewards and incentivize new users to ensure the growth rate of WEEX users and trading volume.

Brand promotion:1.5 billion WXT (15%), 1.5% released each year, starting from December 2024. Used for WEEX brand building and media partner alliance program, aiming to attract industry media and high-quality KOL cooperation, and enhance the brand awareness and transparency of WEEX and WXT.

Partner Ecosystem Fund:1.5 billion WXT (15%), 1.5% released each year, starting from August 2024. Used to give back to WEEX exchange partners, encourage long-term cooperation, and share benefits.

Team Incentives: 1.5 billion WXT (15%), 1.5% released annually, starting in April 2025. Used to attract and retain top Web3 talents, and motivate team members to strive to achieve key performance goals and WEEX's long-term development strategy.

The remaining 45% includes the WXT Ecosystem Fund (20%, 2% released annually) and the WEEX Investor Protection Fund (25%). The former is used to support Web3 startup projects and grow together with ecological partners; the latter is used to increase the WEEX Investor Protection Fund, protect the security of user assets, and allow users to trade with peace of mind.

From the perspective of the allocation mechanism, more than 50% of WXT will be allocated to the community and WEEX exchange ecological partners. In the future, as the scale of WEEX users and the ecosystem continue to grow, WXT holdings will continue to disperse, decentralize, and democratize.

From the perspective of the release cycle, 75% of WXT is locked up for 10 years, which exceeds at least two rounds of crypto bull and bear cycles; the remaining 25% (investor protection fund) has no lock-up period, but this part of the funds is obviously also long-term holding, and is only used to compensate for unexpected losses of user funds in abnormal circumstances.

This means that there is no pressure to release WXT in the short term, which is conducive to maintaining the stability of the currency price and achieving the goal of market value management. Such a mechanism design also reflects WEEX's original intention to seek long-term prosperity for the trading platform and ecological community, and strengthens the team's belief in "long-termism".

Extreme Deflation: 90% WXT Repurchase and Destruction

The maximum supply of WXT is 10 billion. This number looks high, but the white paper promises that WEEX will regularly take out part of the platform's profits to repurchase WXT from the secondary market and permanently destroy it until the total supply is finally reduced to 1 billion, in order to enhance its scarcity and guarantee the long-term value return of the holders. The repurchase details and destruction records will be permanently disclosed on the blockchain to ensure transparency and market trust. This will have a positive impact on the long-term value of WXT and enhance its ecosystem.

As one of the world's top 10 derivatives exchanges, WEEX has more than 2 million registered users, with markets covering more than 30 countries and regions around the world, and an average daily trading volume of over US$1 billion. The platform began to achieve stable profits as early as the "crypto winter" in 2022, and maintained a high growth rate of 100% in average monthly trading volume.

Top strength and rapid growth provide solid guarantees for the repurchase and destruction of WXT, while the 90% deflation target means that WXT will appreciate 10 times on the basis of reasonable market valuation, which undoubtedly injects strong confidence in its long-term strong price.

Since 2018, the WEEX team has been committed to the passionate belief of "making blockchain technology accessible to the public", going through multiple rounds of bull and bear markets, and deeply cultivating the cryptocurrency trading track, accumulating profound market experience in the full-cycle operation of crypto assets. With its safe and easy-to-use, professional and compliant service experience, as well as product advantages such as trading depth and one-click copy trading, WEEX has quickly grown into an open, transparent, fair and trustworthy dark horse trading platform.

Now, after WXT goes online, it will bind more and more ecological partners, which will add a new driving engine to the growth flywheel of WEEX and realize the synergy mechanism of mutual empowerment between exchanges and platform coins. For example, the top 50 users in terms of total quarterly trading volume of WEEX can subscribe to WXT at a 20% discount limit, which not only brings a large number of high-quality purchases to WXT, but also increases the overall trading volume and user activity of WEEX through incentives.

WXT is currently carrying out partner presale and user "ribbon-cutting activities". Partners invite new users to register to earn points, and unlock WXT subscription quotas at a 30% discount based on the proportion of points; new users can receive WXT airdrops after completing tasks such as registration, KYC, recharge, and contract trading, and a single person can receive up to 198,700 WXT.

Looking to the future, WEEX will continue to provide secure, privacy-protected and user-friendly trading services as its mission, and with the help of the platform currency WXT, build a blockchain financial ecosystem covering diversified applications, promote innovation and development of the cryptocurrency industry, and create and share the dividends of Web3 development with millions of users and partners.

WEEX official website: www.weex.com

WTX Zone: www.weex.com/wxt

WEEX Chinese Community: https://t.me/weex_group

WEEX Official X: https://twitter.com/WEEX_Official

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