Recently, WEEX Exchange’s platform currency WEEX Token (WXT) 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 was launched at a bad time. However, after the launch of WXT, it only took a short period of time to rise steadily. So far, it has accumulated a 20% increase, which shows the blue chip background and value support of the platform currency in the current panic market atmosphere.
What is the value support of WXT? Is it suitable for long-term holding? What are the ways to get WXT airdrops? This article will introduce WXTs token economic model, holder rights, deflation mechanism, etc. in detail in conjunction with the white paper.
Value support: WXT becomes the “golden shovel”
The original intention of issuing WEEX Token (WXT) is to implement WEEXs 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 token holding 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: Users holding WXT can participate in the WEEX Launchpad new coin issuance first. According to WEEXs 2024 Launchpool Launchpad plan, the annualized rate of return for holding WXT is as high as 64%.
Fee discount: Use WXT to deduct WEEX spot transaction fees and enjoy a 30% fee discount; if you hold a certain amount of WXT, you can also enjoy an exclusive tiered contract fee discount (currently 20%).
Invitation reward upgrade: Holding 100,000 WXT for more than 30 days will increase the invitation reward 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.
Earn interest on holding coins: WXT holders can earn additional interest rewards on specific financial products in the future.
Voting for coin listing: Holding a certain amount of WXT will enjoy the privilege of coin listing.
This series of coin holding rights makes WXT a golden shovel for obtaining airdrops, fee reductions, and reward upgrades. It will continue to bring wealth benefits to holders and lay the foundation for the value of WXT.
Ecological cornerstone: 55% WXT incentives for the 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 10-year lock-up period will be set to ensure the orderly realization of WEEXs long-term strategy and phased goals.
New users: 1 billion WXT (10%), 1% released each year, 0.25% released. Used to attract new users and motivate 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 to 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 each year, starting in April 2025. Used to attract and retain top Web3 talents, and motivate team members to strive to achieve key performance goals and WEEXs long-term development strategy.
The remaining 45% includes the WXT Ecological 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, ensure the security of user assets, and allow users to trade with peace of mind.
From the distribution mechanism, more than 50% of WXT will be allocated to the community and WEEX exchange ecosystem partners. In the future, as the scale of WEEX users and the ecosystem continue to grow, WXT holdings will continue to be dispersed, decentralized, and democratized.
From the perspective of the release cycle, 75% of WXT has a lock-up period of up to 10 years, which exceeds at least two rounds of crypto bull and bear cycles; although the remaining 25% (investor protection fund) has no lock-up period, this part of the funds is obviously also a 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 WEEXs original intention to seek long-term prosperity for the trading platform and ecological community, and strengthens the teams belief in long-termism.
Extreme deflation: 90% WXT buyback and destruction
The maximum supply of WXT is 10 billion, which seems high, but the white paper promises that WEEX will regularly take out a portion of the platforms 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 ensure 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 top 10 derivatives exchanges in the world, 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 based on a reasonable market valuation, which undoubtedly injects strong confidence into the long-term stability of its coin price.
Since 2018, the WEEX team has been committed to the belief of making blockchain technology accessible to the general public, and has gone through multiple rounds of bull and bear markets, deeply engaged in the cryptocurrency trading track, and accumulated 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 its 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 has bound 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 the exchange and the platform currency. For example, the top 50 users in terms of total transaction volume of WEEX in the quarter can subscribe to WXT with a 20% discount limit, which not only brings a large number of high-quality purchases to WXT, but also increases the overall transaction 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 a 30% discount on WXT subscription quota based on the proportion of points. New users can receive WXT airdrops after completing registration, KYC, recharge, contract trading and other tasks. A single person can receive up to 198,700 WXT.
Looking ahead, WEEX will continue to take providing 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 in 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 Twitter: https://twitter.com/WEEX_Official
