WEEX updates WXT white paper: 40% will be destroyed for the first time and will be destroyed every quarter in the future

Odaily reports that on January 27, the WEEX Exchange website updated the WEEX Token (WXT) whitepaper. The new whitepaper shows that starting in 2025, WEEX plans to launch a WXT buyback and burning mechanism, with the first burn of 4 billion WXT (40% of the total supply). After the first burn, the total supply of WXT will be reduced to 6 billion. In the future, there will be a quarterly burn, where 20% of WEEX's quarterly profits will be used to buyback and burn WXT, and the specific number and on-chain record of the burns will be published after completion. WXT is the platform token issued by the WEEX Exchange, aiming to provide exclusive rights and value returns for WEEX's loyal users and partners. WXT holders' rights include: WE-Launch hot project token airdrops, VIP level discounts, higher commission ratios for traders, as well as future rights such as Launchpad, on-chain payments, and platform governance voting.