On December 16, WEEX, a leading global cryptocurrency trading platform, announced the completion of a new round of WXT buyback worth $2 million, repurchasing a total of 72,571,028 WXT tokens.
This WXT buyback aims to reward global users for their support of WEEX's "Futures Mining" event. The event offers participants up to 30% trading fee rebate rewards, distributed in real-time in WXT tokens.
In other words, "Futures Mining" transforms users' daily futures trading into a novel, entirely trading volume-driven "mining" model—the higher the trading volume, the higher the fee rebate ratio, with all WXT rewards credited instantly.
"Futures Mining" Continues to Be Popular, Event Extended by 10 Days
WEEX's "Futures Mining" aims to return the platform's growth dividends to users through the innovative incentive model of "Trading is Mining." During the event, users receive real-time fee rebates in WXT for each futures open/close order, with a rebate ratio of up to 30%.
Since its launch on November 26, the event has attracted active participation, with trading heat continuously rising. According to WEEX's official data, as of 18:00 on December 16 (UTC+8), the top 100 users on the "Futures Mining" leaderboard had a cumulative futures trading volume of $9.172 billion and received a total of 3,015,047.7 WXT in mining rewards (data continuously updating).
Due to the novel mechanism, generous rewards, and instant settlement of the "Futures Mining" event, daily new participants and trading volume have repeatedly hit new highs since its launch, with many users requesting an extension. Therefore, WEEX has extended the event by 10 days, moving the deadline from the original December 15 to December 25, allowing more users sufficient time to participate and continue enjoying the mining rebate benefits.
This adjustment only extends the event duration; the rules remain the same: users click to register and participate in futures trading to receive fee rebates in WXT, with rewards credited instantly after each open/close order.
Based on the miner tier mechanism of the "Futures Mining" event, users start at the "Copper Miner" tier. As cumulative trading volume increases, they can unlock Copper, Silver, Gold, Platinum, Diamond, and King tiers. Higher tiers correspond to higher fee rebate ratios, up to 30%. After the extension, users' unlocked tiers and rebate ratios remain effective. Trading fees generated during the extension period will still be rebated in real-time according to the corresponding ratio. Users can check their reward amounts and status in real-time via the WEEX App or official website.
72.57 Million WXT Buyback Completed, Ensuring Deflationary Effect
Unlike the token inflation issues faced by trading mining from other CEXs or liquidity mining from DeFi platforms, WEEX's "Futures Mining" features a $2 million WXT buyback mechanism. This not only maintains WXT's deflation but also genuinely demonstrates the sincerity of "rewarding users."
As previously announced, WEEX used its own funds to conduct a WXT buyback on the open market on December 16. As of 17:00 on December 16 (UTC), the buyback plan was completed as scheduled, repurchasing a total of 72,571,028 WXT at an average price of 0.027559 USDT/WXT.
Thus, the circulating supply of WXT will not increase due to the "Futures Mining" event, maintaining WXT's scarcity and value stability, and ensuring users' mining收益. In the long term, as WEEX's user base and trading volume continue to grow, the platform can invest more resources to further empower the WXT ecosystem, enhancing its long-term appreciation potential.
Since its launch in July 2024, WXT has seen a peak increase of over 358%, with a cumulative increase of over 180% to date. According to CMC data, WXT has risen approximately 70% year-to-date, ranking among the Top 5 CEX platform tokens in terms of annual growth.
This impressive performance is attributed to WEEX's long-term empowerment of the WXT ecosystem. To date, WEEX has completed 4 rounds of WXT buybacks on the open market, repurchasing a total of 4,196,774,851 WXT. The first three buybacks have been burned, accounting for 41.24% of WXT's total issuance, fully demonstrating WEEX's long-term support and confidence in the WXT token ecosystem.
In addition to buybacks and burns, WEEX continues to empower WXT through various mechanisms such as WE-Launch new token listing airdrops, fee discounts, and Trader Pro权益 upgrades, resulting in a comprehensive annualized yield of up to 660.61% for WXT holders.
As the core of the WEEX ecosystem, WXT is dedicated to incentivizing partners, contributors, and active users within the exchange community. Through the "Futures Mining" event and the WXT buyback mechanism, WEEX not only creates more profit opportunities for users but also further consolidates WXT's market position.
Join WEEX now to experience the new "Futures Mining" model and easily unlock more收益:https://www.weex.com/zh-CN/events/futures-trading/trade-to-earn
