Yes, you heard it right, recently WRX token burn event by WazirX is the highest ever in terms of token burn. This token burn if for the recently completed quarter i.e. October – December 2020.
This is the 3rd quarterly WRX token burn event in which a total of 6,533,333 WRX were burnt. This token burnt is equivalent to ₹5,08,96,885 INR (~ $648,367 USD). In the 3rd quarter, WazirX burnt 96% more WRX token compared to the 2nd quarter.
After the 2nd quarterly WRX burn event, the total supply for WRX was 995,833,334 WRX but after 3rd quarterly burn event, it’s 989,300,001 WRX. So, the current total supply of WRX token is 989,300,001 WRX.
Basically, Coin burn is a process of permanently removing the coins from circulation which will ultimately reduce the total supply.
This time WazirX burned WRX token in 4 parts and are as follows:-
WazirX is continuously implementing new features to its platform in order to make it more user friendly. WazirX has taken initiatives like WazirX Warriors, WazirX Education Partner Program in order to educate the masses and also to share awareness about crypto.
Recently, it also surpasses 1,000,000 users on its platform which seems to be a great achievement for the entire team. Kudos to the entire team.
Highest Trader Kaun Marathon: WRX/INR
In order to celebrate the 1 Million users achievement, WazirX announced a highest trader kaun marathon of prizes ₹2,00,000 worth WRX. This WRX/INR trading contest started on 19th January 2021, 9 AM IST and continued for 36 hours.
The trading contest was non-stop from Tuesday, 19th January, 9 AM to Wednesday, 20th January, 9 PM IST. Winners were selected on the basis of WRX volume traded on INR market.
Rank
Prize/person (WRX)
INR Worth
1
5,487
40,000
2
3,292
24,000
3
1,920
14,000
4 – 10
1,097
8,000
11 – 15
604
4,400
16 – 20
329
2,400
21 – 25
165
1,200
26 – 30
88
640
31 – 80
62.55
456
It also launches a trivia contest on Instagram and quiz time on Twitter. The total prize money set for the Instagram Trivia Contest was ₹2,500 and for Quiz time was ₹4,500 worth WRX. Both these contests were on 21st January 2021.
Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.
