WhiteBIT Token: The biggest European cryptocurrency exchange launches its own token

WhiteBIT has Ukrainian origin and is now one of the biggest cryptocurrency exchanges in Europe. The platform recently shared plans to launch its own digital asset, WhiteBIT Token (WBT). The token will provide the users with unique opportunities like fee reduction, holding benefits and much more.

WhiteBIT has been giving its users striking announcements since the beginning of its largescale market expansion. Just a month ago, the platform completed its functionality with perpetual futures trading, becoming one of the few crypto exchanges in the world that offer such a possibility. Now, WhiteBIT is planning to launch its own token, which seems a natural step for an exchange of this level.

Here are the main facts to know about WBT:

  • It will have a limited supply.
  • The token design presupposes organic interactions with other projects of the ecosystem.
  • WBT ownership promises various bonuses to tokenholders.
  • The token will have a weekly burning mechanism. 

The asset will be issued in the amount of 400 million WBT, with 200 million as treasury tokens. This amount will be distributed to corresponding funds inside the ecosystem to protect the asset from inflation. Treasury tokens will be gradually unlocked within the following three years. Half of the issued tokens will be frozen and brought to the market according to the pre-designed schedule. 

WhiteBIT users will be able to enjoy numerous benefits from owning and holding WBT. The exchange plans to hold profitable activities, trading competitions and bounties to prove the effectiveness of the new asset and build a community around it. Here are some of the advantages for WBT holders and owners to enjoy:

  • A 40-50% increase in the referral rate
  • Reduced fees
  • Free ERC-20-protocol token withdrawals
  • Free Anti-Money Laundering checks and much more.

Being an in-house token, WhiteBIT Token will gradually expand the scope of its possibilities available to platform users. Learn more about WBT on the official WhiteBIT platform

Volodymyr Nosov, WhiteBIT CEO, said, “WhiteBIT Token is the implementation of a long-cherished idea of a truly effective token designed to give the best to users. Smooth interoperation of all WhiteBIT ecosystem products, generous fee reduction, increased rates for the referral program, and much more, are only [some] of the prospects this asset entails.”

This is a paid press release. Cointelegraph does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. Cointelegraph is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.

Leave a Reply

Your email address will not be published. Required fields are marked *