WEEX Completes $2 Million WXT Buyback, Rewarding Users for Supporting 'Futures Mining'
On December 16, the cryptocurrency exchange WEEX announced the completion of a $2 million WXT token buyback, repurchasing 72,571,028 WXT from the open market. This initiative is part of the platform’s effort to reward users for their participation in the "Futures Mining" event, which offers up to 30% trading fee rebates distributed in real-time as WXT.
The Futures Mining campaign, launched on November 26, allows users' contract trading to function as a form of mining—where higher trading volumes yield greater rebates. Due to its popularity, the event has been extended by 10 days, now running until December 25. Top participants have already generated over $9.1 billion in trading volume, earning more than 3 million WXT in rewards.
Unlike typical mining programs that may cause token inflation, WEEX’s buyback mechanism ensures WXT remains deflationary. To date, WEEX has conducted four buybacks, destroying 41.24% of WXT’s total supply. The token has risen over 180% since its launch in July 2024, making it one of the top-performing exchange tokens this year.
WXT also offers additional utility including fee discounts, airdrops, and membership benefits, with an estimated annualized return of 660.61% for holders.
深潮12/16 13:39