On August 4, 2025, the cryptocurrency trading platform WEEX successfully completed the destruction of the second quarter WEEX Token (WXT) according to its token burn plan. A total of 60,509,555 WXT were destroyed, accounting for approximately 0.61% of the initial total supply. Based on the price of the token at the time of destruction, this is valued at around 2 million USD, reflecting WEEX's ongoing commitment to its long-term growth and token economic structure.
Ongoing Destruction: WEEX Trading Platform's Strategic Token Burn Plan
WEEX conducted its first token burn on January 31, 2025, destroying up to 4,000,000,000 WXT (40% of the total supply). Since then, the company has been executing a burn every quarter as planned, typically completing the previous quarter's burn at the beginning of each quarter. WEEX will use 20% of its quarterly profits (from contract and spot trading fees, listing fees, and other revenues) to repurchase and destroy WXT tokens, continuously fulfilling its commitment to building a token deflationary mechanism.
Unlocking Value: Benefits of Holding and Burning WXT
As a platform token, WXT enhances user engagement and loyalty by providing exclusive rights, trading fee discounts, and incentives for long-term holding, driving WEEX's growth and long-term competitiveness. WXT holders will be eligible for regular new token airdrops, providing more earning opportunities. The amount of WXT held will also affect the user's VIP level, with higher levels enjoying more exclusive rights and better fee rates. Additionally, traders holding WXT benefit from a higher profit-sharing ratio, incentivizing them to actively participate in platform activities.
The WXT token burn mechanism is a key element of WEEX's growth strategy, aimed at reducing the token supply to support long-term value growth. Since its launch at a price of 0.01 USD in August 2023, the price of WXT has surged by 340%, reaching 0.034 USD at the time of writing, reflecting increasing market confidence. The price of the token has grown in tandem with platform revenue, creating a virtuous cycle that not only rewards WEEX's loyal users but also promotes sustainable growth in both the platform and token value.
Future Vision: WEEX's Path to Global Market Leadership
As of 2025, WEEX has achieved several significant milestones, including a global team size exceeding 500 people, the establishment of an international studio in Dubai, and obtaining a BSP license. With these strategic initiatives and its leading liquidity advantage, WEEX aims to reach over 10 million global users and achieve a daily trading volume exceeding 10 billion USD, laying the foundation for the platform's continued growth and success. The WXT burn plan plays a crucial role in this vision, creating a healthy ecosystem that benefits both the platform and its valued users.
About WEEX
Founded in 2018, WEEX has rapidly emerged as a global leader in the cryptocurrency trading space. With a wide selection of trading pairs, rich features such as WE-Launch, and partnerships with global icons like Michael Owen, WEEX continues to provide top-tier trading experiences to millions of users worldwide.
This article is contributed content and does not represent the views of BlockBeats.
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