TheCryptoUpdates
Press Release

WEEX Exchange Unveils WXT Token to Enhance Ecosystem and Reward Community Engagement

singapore, singapore, April 23rd, 2024, Chainwire

As a leading force in the cryptocurrency market, WEEX Exchange is poised to significantly elevate its ecosystem with the introduction of its exclusive proprietary token, the WEEX Token (WXT), scheduled for release this upcoming summer.

What is WEEX: Introduction

Since its establishment in 2018, WEEX has rapidly emerged as a leading force in the cryptocurrency exchange domain, offering robust, intuitive, and comprehensive trading solutions. Boasting over 2 million users worldwide, WEEX provides an extensive array of trading options, including spot and futures trading, along with innovative features such as copy trading. This positions WEEX as an all-in-one platform, enabling seamless transactions across a wide variety of digital assets.

Introducing WEEX Token WXT: The Token at the Heart of WEEX

In its continuous effort to enhance platform utility and user engagement, WEEX has introduced WXT, the token of the WEEX ecosystem, operating under the ERC-20 standard on the Ethereum blockchain. WEEX Token (WXT) is designed as the cornerstone of the WEEX ecosystem, serving as a dynamic incentive mechanism to reward the partners, contributors, pioneers, and active members of the WEEX exchange community. WXT is not merely a token, but a foundational element designed to enrich the community engagement and reward system within the WEEX exchange.

Dynamic Incentive Mechanism

WEEX WXT stands as a dynamic incentive, acknowledging and rewarding the contributions and active participation of the WEEX community members. This innovative approach is set to transform interactions within the platform, ensuring that contributions and engagement are duly recognized and rewarded.

WXT’s Technological Assurance: Audit and Security

The security and integrity of WXT hold paramount importance. A comprehensive audit by BEOSIN, a leading Web3.0 smart contract audit firm, has affirmed the WXT smart contract’s robustness, network security, and risk management protocols, guaranteeing its safety and scalability for broader adoption.

Exclusive Benefits for WXT Holders

Holding WXT opens the door to a plethora of exclusive benefits designed to enrich the trading experience on WEEX:

  • Futures Fee Discounts: Holders enjoy a 20% discount on trading fees with Futures Pro.
  • Referral Bonuses: An enhanced commission rate for those who bring new traders to the platform.
  • Copy Trader Benefits: Additional profit-sharing for those participating in copy trading.
  • Exclusive Interest Benefits: Opportunities to earn additional interest and rewards.
  • Exclusive Airdrop Rewards: Access to unique airdrops and promotional rewards.

WEEX WXT Supply and Distribution

WEEX WXT has a total supply of 10 billion, with an initial circulation of 3.9 billion. The distribution and release schedule for WXT are as follows:

Investor Protection Fund: 1.5 billion WEEX WXT (15%) are reserved to compensate users for losses not caused by their own fault, ensuring secure and worry-free trading.

WXT Ecosystem Fund: 1.5 billion WEEX WXT (15%) dedicated to supporting project incubation, aiding the growth of startups, and promoting Web3 technological innovation.

Private Sale: 500 million WEEX WXT (5%), locked for one year with a linear monthly release post-lockup, to reward WEEX exchange partners for their growth and shared success with the platform.

Holding Incentives: 1.5 billion WEEX WXT (15%), releasing 3% annually over five years, to reward investors for holding WXT, staking, and mining, recognizing their contributions to the WXT ecosystem and network.

The remaining 5 billion WEEX WXT (50%) support the ongoing development of the WEEX exchange ecosystem, including:

Team Incentives: 2 billion WEEX WXT (20%), locked for one year, with 2% released every six months over five years, to attract and retain top talent in the Web3 industry and motivate the team to achieve WEEX’s key objectives and long-term strategic goals.

User Acquisition and Retention: 1.5 billion WEEX WXT (15%), releasing 3% annually over five years, to ensure user growth and achieve key milestones in market expansion.

Brand Building/KOL Partnerships: 1.5 billion WEEX WXT (15%), releasing 3% annually over five years, for brand development alliances and partnerships with top KOLs in the Web3 industry, enhancing the visibility and transparency of WEEX and WXT.

Exclusive Holder Benefits

To achieve ecosystem incentives and share development benefits with the community, WXT has been crafted as a utility token with a wide range of planned uses and empowerment mechanisms:

– Launchpad: Holding WXT grants access to exclusive airdrops from projects considered promising by the WEEX WXT team.

– Exclusive Holder Benefits: These include discounts on trading fees on the WEEX platform, higher commission rebates, VIP privileges for holding certain amounts of WXT, greater profit-sharing ratios for lead traders, earning interest on held WEEX WXT, exclusive airdrops from marquee projects, and voting rights in coin listings.

– Deflationary Mechanism: WEEX Exchange will opportunistically initiate a WXT buyback and destruction program.

How to Get WEEX Token WXT?

The WXT presale is available exclusively to affiliates of WEEX, and will include a limited-time discount for participating members. [Users can apply to become a WEEX Affiliate here]

Other users can earn WXT through new user registrations, transaction mining, and participation in many of the upcoming WEEX events and activities.

Looking Ahead: WEEX and WXT’s Impact on Crypto Trading

With the launch of WXT, WEEX is not just releasing a token; it’s enhancing its ecosystem to provide even more value to its loyal users. The WEEX WXT team is optimistic that this initiative will attract a broader audience, fostering greater community engagement and solidifying WEEX’s position as a major competitor in the crypto exchange landscape.

WEEX is integrating WXT to introduce new features to crypto trading, aiming to provide a token that facilitates trade and rewards participation and loyalty within the platform.

For more information and regular updates on WXT and other offerings, traders and crypto enthusiasts are encouraged to visit the official WEEX website. As the launch date approaches, the crypto community anticipates how WXT will shape the future of trading on WEEX.

About WEEX

WEEX stands out as a trailblazing cryptocurrency exchange, founded in 2018, and is celebrated for its security-focused approach and user-friendly trading platform. Licensed by both the US and Canadian MSBs, WEEX operates within strict regulatory frameworks, presenting traders with an extensive array of coins and trading pairs. This includes Spot 116 and Futures Pro 176, with more than 5 new pairs being listed daily. As a security-focused and user-friendly cryptocurrency futures trading platform, WEEX is devoted to enhancing the trading journey, offering a range of services designed to suit traders at all levels. Among these services are low-fee futures trading, zero-fee spot trading, and the option to use up to 200X leverage on derivatives. The platform’s steadfast commitment to user safety and its position as a versatile choice for traders globally in the ever-evolving cryptocurrency market solidify its reputation as a leading exchange.

Users can sign up for a WEEX account here: https://www.weex.com/register  

Users can visit WEEX Official Website: https://www.weex.com/  

Media Email: [email protected]  

WEEX Customer Support: [email protected]  

Trading Quant & MM: [email protected]

Contact

Felicia
WEEX Exchange
[email protected]

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