How to use your WXK to apply the Multiply Profit Boost

Region: Europe
Jun 17, 2023, 10:21:39 AM Published By Wirex Team
  • Learn how to amplify your earnings with the Multiply Profit Boost feature 
  • Activate the WXK token boost, increase your profits, and follow our step-by-step guide for applying it to your Multiply pairs 
  • Watch the video for a visual tutorial 

Earlier this week, we launched our new token, WXK, (LINK) which offers a huge investment opportunity by merging the passive income generation seen in X-Accounts with the flexibility and high potential returns of DeFi liquid staking. Not only this, but WXK can also be used to boost your profits by 10%! 

The Multiply Profit Boost is an exciting feature that offers you a unique chance to amplify your gains from the Multiply feature. Once the boost is enabled and your pair is profitable, your payout will be significantly increased by a certain percentage. 

To activate this boost, at least 1 WXK token is required (depending on the size of the collateral used for the Multiply). We’ve pulled together a step-by-step guide for how to apply WXK to your Multiply so that you can start earning increased profits: 

Step-by-step guide: 

1. Select a Multiply pair: Start by choosing the Multiply pair you'd like to trade with, source of collateral and the amount you wish to invest 

2. Enable the WXK Profit Boost: On the "Enter Amount" screen, locate and switch on the "WXK Profit Boost" toggle

3. Review the required WXK amount: Once the "WXK Profit Boost" is activated, a section will be shown outlining the exact amount of WXK needed to enable the boost 

4. (Optional) Top up WXK: If your available balance is insufficient, the boost feature will be temporarily disabled. It's essential to top-up your account with the required amount of WXK to continue.

5. Confirm and start Multiply: Click on "Start" to bring up the "Confirmation" page. This will display your estimated profit, including information about the potential boosted profit. Click on "Confirm" to initiate the Multiply. 

Watch the video below for a visual guide for how to apply your Multiply Profit Boost: 

Nevertheless, there’s a couple of important factors to keep in mind about using WXK for the Multiply Profit Boost: 

  1.  It doesn't affect potential losses: The boost will only affect profits in the Multiply; potential losses remain unaffected by the Multiply Profit Boost feature 
  2. You can’t use the Boost for active Multiply pairs: The Multiply Boost cannot be applied to pairs that are already active in Multiply; the boost must be enabled before you open the Multiply