Dear users:
In accordance with the Websea tokenomics, Websea will continue to burn WBS, maintaining an ongoing deflationary state in the economic model.
WBS burning will officially commence today:
1. Each week, 10% of the total fees generated from spot and futures trading on the platform will be used to repurchase and burn an equivalent value of WBS.
2. When new registered users activate as valid users and choose to receive the registration reward at once, it will also lead to a certain amount of WBS burning.
(The total weekly burning quantity will be updated and disclosed on the platform the following week. You can access it through the homepage banner.)
Note: Settlement will be based on the highest WBS price of the week, conducted every Sunday at 24:00 (GMT+8), with the burning (destruction) of WBS tokens taking place on the following Monday at 12:00 (GMT+8).
The final interpretation rights belong to Websea.
Websea Team
November 6, 2023
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