WEEX completes $2 million WXT buyback to reward users for their support of "Contract Mining"

On December 16, WEEX, a leading global cryptocurrency trading platform, announced the successful completion of its latest WXT buyback worth $2 million, repurchasing a total of 72,571,028 WXT tokens.

This WXT buyback aims to reward global users for their support of WEEX's "Futures Mining" campaign. The initiative offers participants in futures trading up to a 30% rebate on trading fees, with rewards distributed instantly in WXT tokens.

In other words, "Futures Mining" transforms users' regular futures trading into a brand-new, volume-driven mining model—where higher trading volume leads to a higher fee rebate ratio, and all WXT rewards are credited instantly.

Futures Mining Remains Highly Popular; Event Extended by 10 Days

WEEX’s "Futures Mining" program leverages an innovative “trade-to-mine” incentive model to share platform growth benefits with active traders. During the event, every futures open or close order executed earns users instant fee rebates paid in WXT, with rebate rates reaching up to 30%.

Since its launch on November 26, the campaign has attracted strong participation from users worldwide, driving sustained growth in trading activity. According to data from the WEEX official website, as of 18:00 on December 16 (UTC+8), the top 100 users on the Futures Mining leaderboard have achieved a cumulative futures trading volume of $9.172 billion and received a total of 3,015,047.7 WXT in mining rewards (data is continuously updated).

Due to the novel mechanics, generous rewards, and instant settlement features of the "Futures Mining" campaign, daily new participants and trading volumes have repeatedly hit record highs. Many users have also expressed hopes for an extension. In response, WEEX has extended the campaign by 10 days, pushing the end date from the original December 15 to December 25, allowing more users ample time to participate and continue enjoying the mining rebate benefits.

This adjustment extends only the event duration; all rules remain unchanged: users who register and participate in futures trading will receive WXT-based fee rebates, with WXT rewards credited instantly upon completion of each open/close order.

Based on the miner tier system of the "Futures Mining" campaign, users start at the "Bronze Miner" level and can unlock higher levels—Bronze, Silver, Gold, Platinum, Diamond, and King—based on their cumulative trading volume. The greater the trading volume, the higher the miner level and the higher the fee rebate rate, reaching up to 30%. After the extension, users’ existing miner levels and corresponding rebate rates remain valid, and trading fees incurred during the extended period will continue to be rebated in real time at the applicable rate. Users can check their reward amounts and payment status anytime via the WEEX App or official website.

72.57 Million WXT Buyback Completed, Ensuring Deflationary Effect

Unlike traditional exchange-led trade mining or DeFi liquidity mining models that often lead to token inflation, WEEX’s "Futures Mining" incorporates a $2 million WXT buyback mechanism, maintaining WXT’s deflationary nature and demonstrating genuine commitment to user rewards.

As previously announced, WEEX used its own funds to conduct the WXT buyback on the open market on December 16. By 17:00 UTC on December 16, the buyback was successfully completed, acquiring a total of 72,571,028 WXT tokens at an average price of 0.027559 USDT per WXT.

As a result, the circulating supply of WXT will not increase due to the "Futures Mining" campaign, preserving WXT’s scarcity and value stability, thereby safeguarding users’ mining earnings. In the long term, as WEEX continues to grow its user base and trading volume, it can allocate more resources to further empower the WXT ecosystem and enhance WXT’s long-term appreciation potential.

Since its launch in July 2024, WXT has achieved a peak price increase of over 358%, with a cumulative gain exceeding 180% to date. According to CMC data, WXT has risen approximately 70% year-to-date, ranking among the top 5 CEX native tokens by annual performance.

This impressive performance stems from WEEX’s long-term empowerment of the WXT ecosystem. To date, WEEX has conducted four WXT buybacks through open market operations, totaling 4,196,774,851 WXT tokens repurchased. The first three batches of repurchased WXT have already been burned, amounting to 41.24% of the total WXT supply, underscoring WEEX’s strong confidence in and ongoing support for the WXT token economy.

Beyond buybacks and burns, WEEX continues to enhance WXT utility through multiple mechanisms such as WE-Launch new token listing airdrops, trading fee discounts, and upgraded benefits for trading experts, delivering a combined annualized yield of up to 660.61% for WXT holders.

As the core of the WEEX ecosystem, WXT is designed to incentivize partners, contributors, and active members of the exchange community. Through the "Futures Mining" initiative and the WXT buyback mechanism, WEEX not only creates additional earning opportunities for users but also strengthens WXT’s market position.

Join WEEX today and experience the new "Futures Mining" model to unlock greater rewards: https://www.weex.com/zh-CN/events/futures-trading/trade-to-earn