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WEEX Token (WXT) Burn Mechanism: A Step Toward Deflationary Growth
The WEEX Token (WXT) repurchase and burn plan marks a crucial step in WEEX's commitment to creating a deflationary model for the token. Starting in 2025, WEEX will use 20% of its quarterly profits, derived from transaction fees on both spot and futures markets, along with listing fees, to repurchase WXT tokens. These repurchased tokens will then be burned, resulting in a permanent reduction in the token’s total supply.
The first burn, which will reduce the total supply by a substantial 40%, will see 4 billion WXT burned. Following this event, the total circulating supply will be reduced to 6 billion WXT. This significant reduction in supply is expected to create a scarcity effect, which could lead to an increase in the token's value as demand continues to rise.
Transparency is a key element of this initiative. Upon completion of each burn, WEEX will publicly disclose the amount of WXT burned, with on-chain records made available to ensure accountability. This approach reinforces WEEX’s commitment to maintaining transparency and ensuring that the community is fully informed about the progress of the burn mechanism.
By establishing this deflationary model, WEEX aims to create long-term value for WXT token holders. With a reduced supply, the token's scarcity is expected to grow over time, potentially boosting its market value. Additionally, the regular burns will ensure that the total supply remains in check, preventing excessive inflation and contributing to the overall stability of the WEEX ecosystem.
This burn strategy is just one element of WEEX's broader goal to build a sustainable and thriving WXT ecosystem. By reducing the supply, WEEX aims to enhance the token's long-term value proposition, benefiting all stakeholders and strengthening the overall ecosystem.
If you want to buy WEEX Token (WXT) now, you can sign up for a WEEX account directly.
Thank you for your support of WEEX!
WEEX Team
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