WEEX Shrinks $WXT Supply by 40%, Offers $115M in Rewards to Fuel DeFi Growth

WEEX, a global cryptocurrency exchange, has launched the "DeFi Ecosystem Week" event from February 13 to 23, 2025 (UTC+8), offering new and existing users a range of incentives, including airdrops and trading competitions. The initiative aims to strengthen user engagement and expand the platform’s decentralized finance (DeFi) offerings while rewarding participants with rewards totaling up to $115 in valueWEEX Launches a Million-Dollar Airdrop, Rewarding Global $WXT Holders^[1]. The event aligns with WEEX’s broader strategy to solidify its position as a top 12 exchange on CoinMarketCap, driven by a 150% year-on-year user base growth to 5 million and daily trading volumes exceeding $5 billionWEEX Launches a Million-Dollar Airdrop, Rewarding Global $WXT Holders^[1].

A core component of the event is the airdrop for $WXT holders, WEEX’s native token. Users holding at least 200 $WXT are eligible to share in a prize pool worth $1 million, with additional incentives for those holding 1,000 $WXT or more, including weekly token distributions and up to 70% trading fee discounts for VIP usersWEEX Launches a Million-Dollar Airdrop, Rewarding Global $WXT Holders^[1]. The airdrop is part of a broader effort to reduce $WXT’s circulating supply, with 4 billion tokens (40% of total supply) already burned in the first round, valued at over $120 millionWEEX Launches a Million-Dollar Airdrop, Rewarding Global $WXT Holders^[1]. This strategy, combined with quarterly buybacks, aims to enhance token scarcity and long-term value.

Parallel to the airdrop, WEEX introduced a DEFI/USDT spot trading competition, offering 333,333 DEFI tokens as rewardsDEFI Spot Trading Competition: Deposit and Trade to Share 333,333 DEFI^[2]. Participants can unlock tiered rewards based on deposit and trading volume, with the top tier requiring a net deposit of 15,000 DEFI and a trading volume of 50,000 DEFI to claim 2,500 DEFI. A separate competition rewards users who reach a trading volume of 50,000 DEFI or more with a share of 150,000 DEFI, distributed proportionally to trading activityDEFI Spot Trading Competition: Deposit and Trade to Share 333,333 DEFI^[2]. The event also includes a "bonus" pool of 33,333 DEFI for daily high-volume tradersDEFI Spot Trading Competition: Deposit and Trade to Share 333,333 DEFI^[2].

WEEX further incentivized participation through the "WXT Holders Group," a Telegram-based community offering 10 USDT worth of ASTER tokens to members holding at least 500 $WXTWEEX Exchange – Crypto Exchange With Top Futures Trading^[4]. The group provides exclusive updates and access to community perks, reinforcing WEEX’s focus on fostering a loyal ecosystem. Additionally, the platform’s 1,000 BTC Protection Fund, designed to safeguard user assets, underscores its commitment to security and compliance.

The "DeFi Ecosystem Week" coincides with WEEX’s strategic expansion, including partnerships with football legend Michael Owen to enhance global brand recognition and regulatory approvals in 206 countriesWEEX Launches a Million-Dollar Airdrop, Rewarding Global $WXT Holders^[1]. The exchange’s product innovations—such as copy trading, high-liquidity derivatives, and structured financial products—have driven user engagement and daily trading volumesWEEX Launches a Million-Dollar Airdrop, Rewarding Global $WXT Holders^[1]. These initiatives align with the broader trend of centralized exchanges (CEXs) leveraging platform tokens to attract liquidity, as evidenced by the 384% surge in $WXT’s value in early 2025WEEX Launches a Million-Dollar Airdrop, Rewarding Global $WXT Holders^[1].

WEEX’s efforts reflect the intensifying competition in the CEX landscape, where emerging platforms are challenging established players. The exchange’s market share growth and user base expansion highlight its ability to adapt to shifting dynamics, supported by strategic buybacks and ecosystem developmentWEEX Launches a Million-Dollar Airdrop, Rewarding Global $WXT Holders^[1]. As the DeFi sector evolves, WEEX’s focus on security, compliance, and user incentives positions it to capitalize on rising demand for platform tokens and decentralized trading solutionsWEEX Launches a Million-Dollar Airdrop, Rewarding Global $WXT Holders^[1].