With a current +90% in the last 24 hours, WRX nearly doubled its price in one day, and it has a strong upwards trend.
Comparing it with last week price, it went from 0.47$ to its current 1.82$ with an impressive +287%.
What is WazirX
WazirX is India's fastest growing centralized exchange. It was launched in 2018 and now has over 400,000 users. The strength of the exchange is to be backed by Binance, and also the WRX governance token of WazirX is a BINANCE Smart Chain token.
On WazirX, the token holders will be rewarded with various benefits on the trading exchange like trading fee discounts, WRX trade mining, token airdrop, margin fee, and much more.
It was founded by Nischal Shetty, Sameer Mhatre and Siddharth Menon, who also founded Crowdfire.
Acquisition by Binance
After 20 months of building India’s biggest and the most trusted cryptocurrency exchange, they've been acquired by Binance. WazirX shares Binance’s vision is to increase the freedom of money globally and significantly improve lives around the world.
Roadmap
After Binance acquisition, the Team defined a Roadmap in 2 phases:
- Phase 1: P2P into Binance Ecosystem
Being part of the Binance family, they’ll be able to tap into Binance’s user-base and provide them with a fiat on-ramp solution. In Quarter 1 of 2020,
WazirX P2P was integrated into the Binance fiat gateway. This allowed the Indian users on Binance to deposit and withdraw INR directly from within the
app. Next, they enabled P2P for existing Binance users across multiple countries to help them deposit and withdraw their respective fiat currencies from within Binance.
- Phase 2: Fiat on-ramps & Partnerships
WRX Value
Some benefits for WRX token holders include but are not limited to:
- Trading Fee Discount: They offer a 50% trading fee discount to the people who pay fees using WRX tokens. The program has a 4 years plan in the
following manner:
Year 1: 50% trading fee discount
Year 2: 25% trading fee discount
Year 3: 12.5% trading fee discount
Year 4: 6.25% trading fee discount
- WRX mining: Users in each country will be able to mine, unlock, and earn WRX tokens by performing P2P trades
- Token airdrop: Applicable when different companies agree to provide tokens to WazirX users in return for listing on WazirX or as a way to be promoted to all WazirX users. In such cases, they distribute such airdrops based on the amount of WRX you hold.
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