WEEX said on Aug. 21 that it has completed its second-quarter 2026 burn of WEEX Token (WXT) under the token’s burn model, removing 64,014,084 WXT from circulation. Based on the market price on the day of the burn, the exchange said the destroyed tokens were worth $1.0961 million, with the transaction record available on-chain. The company described the move as part of its deflationary framework for WXT. WEEX also reiterated WXT’s role inside its platform. According to the announcement, holders of the exchange token can take part in WE-Launch airdrops and receive trading fee discounts of up to 70%. The update also referenced an earlier report on WEEX’s sixth round of contract mining, which is still underway. Under that program, users who trade contracts can receive real-time fee rebates paid in WXT. The announcement was reported by Odaily.
WEEX said on Aug. 21 that it has completed the second-quarter 2026 burn of WEEX Token (WXT) in line with its WXT burn model, as the exchange continues to build what it described as a deflationary framework for the platform token.
The exchange said 64,014,084 WXT were burned in the latest round. Based on the market price on the day of the burn, the value of the destroyed tokens was $1.0961 million. The on-chain record is publicly available, according to the announcement.
WXT utility on WEEX
WXT is the incentive token of the WEEX platform. Holders can participate in WE-Launch project airdrops and receive exclusive benefits including trading fee discounts of up to 70%.
Related program already in progress
The announcement also referred to an earlier report that WEEX’s sixth round of contract mining is currently underway. Users who trade contracts can receive real-time fee rebates distributed in WXT.
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