On December 16, globally leading cryptocurrency trading platform WEEX announced the completion of a new round of WXT buyback worth $2 million, totaling 72,571,028 WXT tokens repurchased.
This WXT buyback aims to reward global users for their support of WEEX's 'Futures Mining' campaign. The event offers up to 30% trading fee rebate rewards for users participating in futures trading, with rewards distributed in real-time via WXT tokens.
In other words, 'Futures Mining' transforms users' daily futures trading into a novel, fully 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 Boom, Event Extended by 10 Days
WEEX 'Futures Mining' aims to return platform growth dividends to users through the innovative incentive model of 'trading is mining'. During the event, users receive real-time WXT-based fee rebates for each futures open/close order, with rebates up to 30%.
Since its launch on November 26, the event has attracted active participation from global users, with trading heat continuously rising. According to WEEX official data, as of 18:00 on December 16 (UTC+8), the top 100 users on the 'Futures Mining' leaderboard have accumulated a total futures trading volume of $9.172 billion, with total mining rewards of 3,015,047.7 WXT (data updating in real-time).
Due to the novel mechanism, generous rewards, and support for second-level settlement with instant rewards, the event has seen daily new participants and trading volumes repeatedly hit record highs after 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 mining rebate benefits.
This adjustment only extends the event duration; the rules remain unchanged: users click to register and participate in futures trading to receive WXT-based fee rebates, with WXT rewards credited in real-time after each open/close order.
Based on the miner tier mechanism of the 'Futures Mining' event, users start at the 'Copper Miner' tier. After trading begins, they can unlock Copper, Silver, Gold, Platinum, Diamond, and King tiers sequentially based on cumulative trading volume. The higher the trading volume, the higher the miner tier and fee rebate ratio, up to 30%. After the extension, users' unlocked miner tiers and rebate ratios remain effective. Trading fees generated during the extension will still be rebated in real-time at 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 launched by other CEXs or liquidity mining on DeFi platforms, WEEX 'Futures Mining' not only maintains WXT's deflation but also genuinely demonstrates 'user rewards' sincerity through the $2 million WXT buyback supporting mechanism.
As previously announced, WEEX used platform funds to conduct a WXT buyback on the open market on December 16. By 17:00 (UTC) on December 16, the buyback plan was completed as scheduled, totaling 72,571,028 WXT repurchased 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, ensuring users' mining收益. 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 WXT's long-term appreciation potential.
Since its launch in July 2024, WXT has seen a maximum increase of over 358%, with a cumulative increase of over 180% to date. According to CMC data, WXT has risen about 70% year-to-date, ranking among the top 5 CEX platform tokens for yearly gains.
This outstanding performance is attributed to WEEX's long-term empowerment of the WXT ecosystem. To date, WEEX has completed 4 WXT buybacks via open market operations, cumulatively repurchasing 4,196,774,851 WXT tokens. The first three buybacks have been burned, with the burned amount 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 buyback and burn, WEEX continues to empower WXT through various mechanisms such as WE-Launch new token listing airdrops, trading fee discounts, and trader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 of the exchange community. Through the 'Futures Mining' event and 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 profits: https://www.weex.com/zh-CN/events/futures-trading/trade-to-earn
