We quote from WEEX offical announcement!
Dear Exchange Users,
In order to meet the demands of rapid globalization and further enhance ecosystem development, WEEX Global will launch the platform token WXT (WEEX Token).
Introduction to WXT
WXT is a global ecological incentive token introduced by WEEX Global, issued based on the ERC-20 standard. WXT is designed as the cornerstone of the WEEX ecosystem, serving as a dynamic incentive mechanism to reward partners, contributors, pioneers, and active users of the WEEX community.
The total supply of WXT is 10 billion, with an initial circulating supply of 3.9 billion. The allocation and distribution plan for WXT are as follows:
1.WEEX Exchange Investor Protection Fund: 1.5 billion WXTtokens (15%). This fund is dedicated to effectively compensating users for unforeseen financial losses not attributable to user actions, ensuring a secure and worry-free trading environment.
2.WXT Ecological Fund: 1.5 billion WXTtokens (15%). Allocated to support project incubation, foster the growth of nascent ventures, and propel innovation within the realm of Web3 technologies.
3.Private Placement Quota: 500 million WXTtokens (5%), subject to a one-year lock-up period. Tokens will be released linearly on a monthly basis post-lock-up, culminating in a full release within the year. This allocation aims to reward our esteemed WEEX exchange partners, incentivizing collaborative growth and profit-sharing.
4.Holding Incentives: 1.5 billion WXTtokens (15%). Released annually at a rate of 3%, distributed over a five-year period. These incentives are earmarked for WXTtoken holders, staking miners, and other contributors to the WXT ecosystem and network.
The remaining 5 billion WXTtokens (50%) of WXT are dedicated to supporting the development of the WEEX ecosystem, encompassing:
5.Team Incentives: 2 billion WXTtokens (20%), subject to a one-year lock-up period. Tokens will be gradually released every six months post-lock-up, over a five-year span. This allocation aims to attract and retain top-tier talent within the Web3 industry, incentivizing team members to achieve key milestones and long-term strategic objectives of the WEEX Exchangeplatform.
6.User Acquisition Initiatives: 1.5 billion WXTtokens (15%). Released annually at a rate of 3%, distributed over five years. These tokens will be utilized to attract and retain users, ensuring WEEX Exchange achieves pivotal milestones in user growth and market expansion.
7. Brand Building/KOL Collaboration: 1.5 billion WXTtokens (15%). Released annually at a rate of 3%, distributed over five years. These tokens will support brand building and partnership initiatives aimed at attracting prominent KOLs within the Web3 industry, enhancing the visibility and transparency of WEEX and WXT.
Exclusive Benefits for WXT Holders
In order to achieve the original intention of ecological incentives and sharing development dividends with the community, WXT is designed as a utility token with rich usage scenarios and empowerment mechanisms:
- Launchpad: Holding WXT entitles you to exclusive airdrops for popular projects;
- Exclusive benefits for holders: Including discounts on trading fees on the WEEX Exchangeplatform, higher commission rates, VIP user exclusive benefits for holding a certain amount of WXT, higher profit sharing for copy traders, WXTtoken holding rewards, exclusive airdrops for star projects, and voting rights for listing, etc.;
- Deflationary Mechanism: WEEX Exchange will selectively commence the WXT repurchase and destruction process as needed.
WXT subscriptions are exclusively open to agents, channels, and designated partners, with attractive subscription discounts provided. [Apply to become a WEEX partner]
For retail investorsregular users, WXT rewards can be earned through avenues such as new user registrations, trading mining, and active participation in WEEX Exchange’splatform activities. Stay tuned for upcoming events and promotions.
WEEX has always upheld the principle of “Customer First, Partners Supreme.” As a Web3 exchange, we aim to share the benefits of development with our users and partners alike. Through WXT, we intend to engage more partners and agents, collectively advancing our market and reaching new milestones together.
Stay updated with the latest news and updates about WXT by following the WXT Zone.
Explore the blockchain: https://etherscan.io/token/0x1B66474c8ECA3827f16202907F41F63785579716
Visit WEEX official website: www.weex.com
