Dear WEEXer,
WEEX has completed the first planned WXT burn, as described in the announcement 'Exciting Updates to the WXT Token Ecosystem: Whitepaper Refresh and Strategic Buyback Plan.'
Details of the burn:
- Quantity burned: 4,000,000,000 WXT
- Token burn date: January 31, 2025
- Transaction hash for this burn:
https://cn.etherscan.com/tx/0x9f97619d34e4671cbc385fefd667e43b29692cf3074739459e828d4553786cac
https://cn.etherscan.com/tx/0xebf00846d957ec987d7218fafabd25530df6c9e140853c430f51df34fda52781
Token burn schedule
- Frequency: Conducted quarterly, typically completed at the start of each quarter.
- WEEX will dedicate 20% of quarterly profits from trading fees, including futures and spot trading, listing charges, and other sources, to buy back and burn WXT tokens.
- Method and transparency: All burned tokens will be sent to a verifiable burn address (0x0000000000000000000000000000000000000000), with detailed records published to maintain full transparency.