WEEX spends 2 million USDT to buy back WXT, platform token ranks among the top five in annual gains

[BlockBeats] Recently, WEEX’s latest moves have been quite interesting. They plan to directly spend 2 million USDT to buy back WXT tokens right after the first phase of contract mining ends on December 16th, which is kind of an answer to participating users.

Speaking of this contract mining event, it’s really heating up right now. It started on November 26th and will run until December 15th. The gameplay is straightforward—do contract trading and the platform gives you up to 30% of your fees back, the key is that the rewards are credited in real time and all rewards are paid in WXT. This “earn as you trade” model is quite attractive for high-frequency traders.

I have to say, WXT has performed really well this year. Since its launch in July last year, it has surged as much as 358%. Even after some corrections, the current price is still 192% higher than the issue price. According to CMC statistics, the token has gained 72.95% this year, ranking in the top five among all platform tokens in terms of annual growth.

Whether this buyback can stabilize the token price remains to be seen, but at least they’re moving quickly.