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WEEX Completes First-Ever Burn $120 Million Worth of WXT, Reducing Supply by 40% -- Could WXT Be the Next 100x Gem?

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WEEX Completes First-Ever Burn $120 Million Worth of WXT, Reducing Supply by 40% -- Could WXT Be the Next 100x Gem?
Business

Business

WEEX Completes First-Ever Burn $120 Million Worth of WXT, Reducing Supply by 40% -- Could WXT Be the Next 100x Gem?

2025-01-30 16:00 Last Updated At:16:15

SINGAPORE, Jan. 30, 2025 /PRNewswire/ -- Platform tokens like BNB and BGB have demonstrated their ability to create immense value through well-planned tokenomics strategies. Following these examples, WEEX is set to execute a significant milestone: the planned destruction of 40% of WXT's total supply, valued at $120 million, signals a strategic step towards increasing scarcity and enhancing the token's utility within the WEEX ecosystem.

WXT $120 Million Burn vs. BNB and BGB

As outlined in the burn process, WEEX ensures complete transparency by recording every token burn event on-chain. Such openness reinforces investor confidence and showcases the platform's dedication to responsible token management.

Key Post-Burn Metrics

For comparison, Binance's 30th quarterly burn eliminated 1.63 million BNB, valued at $1.16 billion, while Bitget unveiled a plan to burn over $5 billion worth of BGB tokens, WEEX's upcoming burn stands out as a bold move to immediately reduce WXT's supply by 40%. With plans for regular quarterly burns in the future, this initial large-scale reduction signals WEEX's commitment to aligning with proven strategies in the industry while tailoring its approach to meet the platform's growth and community needs.

Expanding Utility Across the WEEX Ecosystem

Since its launch in August 2023, WXT has seen a cumulative price increase of 384%, reflecting its growing utility and market confidence. Over the past year, WEEX has solidified its presence in the global cryptocurrency market:

These figures underscore the platform's robust foundation and the critical role WXT plays in its ecosystem.

A Systematic Burn Schedule for Sustainable Growth
The whitepaper also highlights WEEX's ongoing commitment to reducing WXT's circulating supply through quarterly burns. This process involves allocating 20% of the exchange's quarterly revenue—including spot and futures transaction fees and listing fees—for token repurchases and subsequent destruction.

Such a systematic approach ensures WXT remains deflationary, sustaining its scarcity while reinforcing its value proposition within the ecosystem.

The whitepaper emphasizes WXT's integration into the WEEX platform's comprehensive offerings,too. WXT holders enjoy numerous benefits:

1)Fee Discounts: Up to 70% off futures trading fees, making trading more cost-efficient.

2)Profit Opportunities: Enhanced profit-sharing through copy trading and VIP upgrades.

3)Exclusive Airdrops: Access to high-value token airdrops via the WE-Launch program, with annualized returns potentially exceeding 140%.

4)Governance Rights: WXT holders can participate in platform decision-making, including proposals for new listings and feature updates.

Future plans include integrating WXT into decentralized finance (DeFi) applications and extending its utility to cross-chain platforms and decentralized exchanges (DEXs), further broadening its use cases.

The upcoming $120 million WXT burn is poised to make an impact in the competitive landscape of platform tokens. By reducing its supply significantly, WEEX creates a foundation for WXT's scarcity-driven value potential, positioning it alongside successful examples like BNB and BGB.

As WEEX continues to innovate and expand globally, WXT's future will be shaped by its ability to adapt to market demands and deliver value to its holders. Whether WXT achieves "100x gem" status will depend on the platform's sustained efforts to refine its tokenomics and expand its applications.

For those seeking a platform token with robust fundamentals and growth potential, WXT presents a compelling opportunity as it navigates the next stage of its evolution.

About WEEX

Founded in 2018, WEEX has quickly emerged as a global leader in cryptocurrency trading. With an extensive selection of trading pairs, cutting-edge features like WE-Launch, and partnerships with global icons like Michael Owen, WEEX continues to redefine the trading experience for millions worldwide.

For more information:

Website: WEEX Exchange

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

WEEX Completes First-Ever Burn $120 Million Worth of WXT, Reducing Supply by 40% -- Could WXT Be the Next 100x Gem?

WEEX Completes First-Ever Burn $120 Million Worth of WXT, Reducing Supply by 40% -- Could WXT Be the Next 100x Gem?

Next Article

Check PD: New Parkinson's Screening App with 90% Accuracy--Download Now!

2025-02-20 10:00 Last Updated At:10:15

BANGKOK, Feb. 20, 2025 /PRNewswire/ -- King Chulalongkorn Memorial Hospital and Thai Red Cross Society have launched the "Check PD" application for Parkinson's risk screening after statistics show that the disease rate among Thai people has increased and is found in individuals under 60 years old. The application boasts an accuracy rate of screening at 90%. Thai people, especially those 40 years and above, are encouraged to download the application to seek preventive methods or timely treatment.

Assoc. Prof. Dr. Chanchai Sittipunt, Dean of the Faculty of Medicine, Chulalongkorn University, and Director of King Chulalongkorn Memorial Hospital, said that the Check PD application is an innovation that uses digital technology, big data analytics, and artificial intelligence to help diagnose Parkinson's disease symptoms. Early detection is crucial for proper treatment planning and care, in line with King Chulalongkorn Memorial Hospital's strategy to create healthcare innovations, develop modern, accessible services, and improve the people's quality of life. The app represents successful collaboration between sectors, demonstrating commitment to implementing new technologies and innovations in healthcare. It helps those at risk of Parkinson's plan appropriate healthcare, prevention, and treatment.

Prof. Dr. Roongroj Bhidayasiri, Director of the Center of Excellence for Parkinson's Disease & Related Disorders (ChulaPD), Faculty of Medicine, Chulalongkorn University, revealed that Parkinson's disease doesn't show immediate symptoms but develops gradually over 10-20 years on average. The most recognizable sign is tremors. However, early warning signs like chronic constipation, sleepwalking, and acting out dreams during sleep, etc., are often seen as normal, leading to delayed medical attention. While the elderly are the primary risk group, those over 40 are also at risk. Statistics show that Parkinson's is inclined to affect increasingly younger patients, and, given the disease's long progression period, early risk screening is essential for prevention and treatment to minimize severe symptoms, suggested Prof. Dr. Roongroj.  

Chula PD and the Thai Red Cross Society have developed the CHECK PD application, using digital technology, big data analytics, and AI to diagnose Parkinson's symptoms. The application aims to help those at risk appropriately plan their healthcare, prevention, and treatment in order to achieve good and sustainable quality of life. The application allows for self-screening of Parkinson's risk for those over 40 years old, using a 25-minute evaluation consisting of 20 questions. The evaluation includes questions as well as tests on finger movements, tremors, balance, and voice. It then responds with immediate results with 90% accuracy.

The application is available on the App Store and Play Store

Watch the launch video of CheckPD at https://www.youtube.com/watch?v=SRM-Ia0XA30

For more information please contact The Excellence Center for Parkinson's Disease & Related Disorders, King Chulalongkorn Memorial Hospital, Geriatric Building or Sor Thor Building 7th floor, Tel. +66-2256-4000 ext. 70702-3, Fax +662-256-4000 ext. 70704, mobile phone +668-1107-9999, website: www.chulapd.org

Read the full article at https://www.chula.ac.th/en/news/218637/

About Chulalongkorn University

Chulalongkorn University has made the world's top 50 university list for employment outcomes, which reflects both the high employment rate and workability of Chula graduates. The university is also listed as the best in Thailand for the 15th Consecutive Year (since 2009), according to the newly released QS World University Rankings 2024, putting Chula at 211th in the world, up from 244th last year.

Social Media: 
Facebook: https://www.facebook.com/ChulalongkornUniversity
Youtube: https://www.youtube.com/chulauniversity
Linkedin: https://www.linkedin.com/school/15101896/

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Check PD: New Parkinson's Screening App with 90% Accuracy--Download Now!

Check PD: New Parkinson's Screening App with 90% Accuracy--Download Now!

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