Dear WBF Exchange users,
On January 15, 2020, WBF Exchange(Singapore) had destroyed 50 million WT which was the total amount of lockup on the WBF platform. Details of the destruction are as follows:
1.Destruction time: 2020/1 /15 17:12:38（UTC+8）
2.The number of destruction: 50 million WT
4. Total supply (at the moment)= 300 million WT (total supply) - 50 million WT (destroyed)= 250 million WT
WT distribution is as follows:
Total supply: 300 million WT
Total lockup (after this destruction) : 150 million WT
Total circulation(now): 100 million WT
The amount of WT destroyed: 50 million WT
Starting from Q4 2019, WBF Exchange will spend 20% of the fee income to conduct buyback of WT every quarter which will be destroyed. At the moment, the repurchase plan for Q4 of 2019 has been launched. The platform will take 20% of the service fee to repurchase and destroy WT from the secondary market, and will release relevant details of the fee in the near future.
WT is heading for extreme deflation which in turn support its intrinsic value of WT among global digital assets.
WBF Exchange team
January 15, 2020