Websea Burns 1,515,937.5 WBS Tokens, Price Surges 66%

Websea has announced the completion of its monthly token burn for April 2025, marking a significant milestone in its ongoing efforts to manage the supply of its platform token, WBS. The burn involved the transfer of 1,515,937.5 WBS to a designated burn address, representing an increase of 118,760 WBS compared to the previous month's burn.

At the time of the announcement, the price of WBS was $1.03, reflecting a 66% increase from the previous month. This price surge contributed to the total value of the burned tokens exceeding $1.56 million. The cumulative burn of WBS tokens has now reached 57,600,015.3, demonstrating Websea's commitment to reducing the overall supply of WBS.

Websea's strategy involves a monthly buyback and burn of WBS tokens equivalent to 10% of the platform's transaction fees. This approach aims to gradually decrease the token supply from its initial 300 million to a target of 100 million tokens. The burn process is designed to create scarcity, which could potentially drive up the value of the remaining tokens in the market.

This latest burn event underscores Websea's proactive measures to manage its token economics and enhance the value proposition for its users. By systematically reducing the supply of WBS, Websea aims to foster a more stable and valuable ecosystem for its platform and its stakeholders.