WEEX's WXT: 4 Billion Token Burn in 2025, Quarterly Profit Burns to Follow

WEEX, a leading cryptocurrency exchange platform, has recently updated its whitepaper, outlining a significant development for its native token, WXT. The new whitepaper reveals a comprehensive repurchase and burn mechanism for WXT, set to commence in 2025.

The initial burn will involve 4 billion WXT, representing 40% of the total supply. This will reduce the total WXT supply to 6 billion. Following this initial burn, WEEX plans to conduct quarterly burns, repurchasing and burning WXT equivalent to 20% of the exchange's quarterly profit. The specific amount of each burn and on-chain records will be disclosed post-completion.

WXT is the platform coin issued by WEEX, designed to provide exclusive benefits and value returns to the exchange's loyal users and partners. Holders of WXT can enjoy perks such as WE-Launch popular project token airdrops, VIP level upgrades with tiered fee discounts, higher referral commission ratios for traders, and future benefits like Launchpad participation, on-chain payments, and platform governance voting.

The implementation of this burn mechanism is a strategic move by WEEX to reduce the circulating supply of WXT, potentially increasing its value and scarcity. Quarterly burns tied to the exchange's profit also incentivize growth and sustainability. This update is expected to boost investor confidence and attract more users to the WEEX platform.