Wirex News

WXT: the story so far

Jul 5, 2019, 9:44:18 AM Published By Wirex Team

It’s only the beginning of July, yet this summer is already shaping up to be the biggest in Wirex history. 

Last month we launched the Wirex Token, our very first native cryptocurrency, to huge acclaim and unprecedented demand. Now that the Wirex Token is available to buy and exchange through the Wirex app and website, let’s catch our breath and review the story so far.

The Wirex Token

Many digital currencies are created to use as assets for trading or to raise funds for their parent company. WXT isn’t your typical cryptocurrency. We designed it to be a utility token – something that provides tangible value and benefits for holders beyond its market trajectory and token price. You can read more about the exclusive benefits afforded by owning Wirex Tokens here.

As always, we’ve got the bigger picture in mind. The Wirex Token will enable us to efficiently and effectively integrate with the incipient tokenisation of the world’s economy. It’s no longer a question of ‘if’, but rather, ‘when?’

The pre-sale

As we created WXT specifically for our loyal customers, it made sense to give you all the opportunity to get your hands on it before the token was released to the public. That’s why we held an exclusive WXT pre-sale on Wirex for all verified customers. To make sure that everyone had the chance to benefit from owning the token, we increased the amount of tokens released for the sale by 50%, from 2% to 3% of total supply. We also imposed a $500 per-person limit for WXT purchases on the first three days of the sale.

Despite these measures, the tokens allocated for the pre-sale (3%, or 300,000,000 WXT) had sold out by Thursday morning – a mere 15 minutes after we removed purchase limits! At the end of the pre-sale, more than 10,000 verified users had bought WXT.

The IEO

The Wirex Token Initial Exchange Offering took place on Monday the 1st of July at 05:00am GMT through the OKEx platform. It was a great success, closing after the second round finished at 06:10. The short duration of the sale was due once again to enormous over-subscription; demand rose to an astonishing 25,818,474,676 WXT during the second session, testimony to the overwhelming interest in our token. 

At the time of writing, the value of one Wirex Token is $0.026873.

The future

We’re working round the clock to make WXT available to use on as many exchanges and platforms as possible. First up was OKEx – now we’re delighted to announce that the Wirex Token is available on KuCoin, known as ‘the People’s Exchange’ for its fantastic user experience and aversion to unnecessary jargon. Combined with its focus on efficiency and security, these qualities make KuCoin a worthy platform for the Wirex Token. 

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