What is the WhiteBIT Token?

By WhiteBIT

WhiteBIT Token (WBT) is the native utility token of the WhiteBIT platform, a European cryptocurrency exchange founded in 2018. With over 3 million users globally, WhiteBIT aims to advance the adoption of blockchain technology by providing user-friendly cryptocurrency trading and investing tools for everyone.

The platform offers a variety of trading options, such as spot, margin, and futures markets, up to 20x leverage, passive income opportunities, 10+ state currencies support, referral programs, and competitive fees.

WBT is integrated into all WhiteBIT services, streamlining user interactions on the platform. Some tokens are also used to ensure the exchange's stability by creating various support and development funds.

Holding WBT on WhiteBIT offers numerous advantages to the user, including:

• Higher referral interest rates (up to 50%);

• Lower trading fees (up to 100% discount);

• Complimentary daily ERC-20/ETH withdrawals;

• Complimentary daily AML checks;

• Integration with current and future WhiteBIT products and more.

WhiteBIT Token was introduced in August 2022, and during its launchpad event, 1 million tokens were sold within the first 15 minutes.

Hacken successfully audited ERC-20, and TRC-20 token contracts, escrow, and vesting smart contracts.

WBT tokenomics

The WhiteBIT Token’s (WBT) total supply is capped at 400 million, with no new tokens coming. There are 200 million treasury tokens, which will be unlocked over three years from the final round of private sale tokens.

Team and Company tokens will be unlocked in the final round. So, the first three rounds will account for about 60% of the treasury tokens and the final round for about 40%. Tokens allocated to funds will be used in line with their purposes.

WBT allocation:

• 3.00% is allocated to the insurance fund

• 3.00% is allocated to the security fund

• 22.50% is allocated to the WBT liquidity fund

• 8.00% is allocated to the project team

• 3.00% is allocated to the fund for influencers

• 22.50% is allocated to the treasury

• 6.00% is allocated to the ecosystem fund

• 6.00% is allocated to the user engagement fund

• 6.00% is allocated to the crypto lending fund

• 13.50% is allocated to the private sale

• 0.25% is allocated to the launchpad

• 6.25% is sent to the burn address

The exchange conducts weekly buybacks and token burns until at least half of all tokens are destroyed. Buybacks occur at the WBT/USDT market, with burning starting at 10 a.m. Monday and ending at 11:59 a.m. Tuesday.

Pricing details

The 24-hour trading volume of WhiteBIT Token (WBT) stands at $, marking a % increase/decrease from the previous day and indicating a recent uptick/downtick in market activity.

The all-time high for WhiteBIT Token (WBT) is $14.64, reached on October 28, 2022. The current price is % lower than this all-time high.

WhiteBIT Token's all-time low is $3.06, recorded on February 13, 2023. The current price is % higher than this all-time low.

The market capitalization of WhiteBIT Token (WBT) is $ . Market cap is calculated by multiplying the token price by the circulating supply of 140 million tradable WBT tokens.

The fully diluted valuation (FDV) of WhiteBIT Token (WBT) is $. This figure represents the maximum market cap, assuming all 400 million WBT tokens are circulating today. The realization of FDV may take multiple years, depending on the emission schedule of WBT tokens.

Author Bio

WhiteBIT is one of the biggest CEX exchanges in Europe with more than 3,5 mln users worldwide. https://whitebit.com