Websea Community WBS Holder Profit Upgrade Plan

Dear users,

After discussions, proposals, and voting across major Websea global communities, it has been decided to initiate the "Websea Community WBS Holder Profit Upgrade Plan," which involves a comprehensive upgrade of the WBS futures trading.

Timeline:

2024.03.18: Websea will temporarily suspend WBS deposits, withdrawals, and on-chain transactions (spot trading on the platform remains unaffected).
2024.03.19-27: Futures upgrade initiated, with a 1:1 mapping and upgrade of on-chain WBS tokens.
2024.03.28: Websea platform completes the upgrade and resumes deposits and withdrawals.

With this upgrade completed, the total supply of WBS tokens will be 300 million.According to the tokenomics plan, distribution ratios and lock-up rules remain unchanged.

Additionally, Websea will allocate 10% of the net profits from platform transaction fee revenue each month for the repurchase and burning of WBS tokens until the total supply is reduced to 100 million tokens (including circulating supply).

Effective immediately upon this announcement, the weekly burning will be suspended, and future burnings will occur monthly and be publicly disclosed.

We appreciate the trust and support of all community members towards Websea!

Websea Team
2024.03.16