Revealing the first two use cases of WRX

Namaste Tribe! As we progress, we get more clarity on the things we can do with WRX. We’ve been getting a lot of suggestions around WRX use cases from many of you and that has definitely helped us to release the first two use cases of WRX.

We may come up with more use cases in the future and we’ll accordingly announce those.

WRX Use Case 1: 50% Trading Fee Discount

Yes! This is applicable if and only when WRX is listed on WazirX. After that you will be able to pay trading fees using WRX and for doing that we’ll start with providing 50% trading fee discount. We plan to run this program for 4 years in the following manner:

  1. Year 1: 50% trading fee discount
  2. Year 2: 25% trading fee discount
  3. Year 3: 12.5% trading fee discount
  4. Year 4: 6.25% trading fee discount

WRX Use Case 2: Token airdrops

This is something very interesting and a passive way to earn extra tokens. You won’t need to do anything in this case except hold WRX. Whenever we come across any airdrop opportunities, we’ll distribute such airdrops based on the amount of WRX you hold. We’re talking about airdrops where 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.

We don’t know when such an opportunity would arise. It would happen as our trading volume increases so we first need to focus on trading volume increase. But I’m sure if we build WazirX into India’s largest cryptocurrency exchange then a lot of companies will be willing to airdrop their tokens to WazirX users and in such instances you will benefit based on the number of WRX you hold.

I’m hoping this gives you more clarity on the WRX use cases once we list it. As you know, we first need to hit milestone 1 of WRX before we decide on the listing of WRX.

Do help spread the word about WazirX. The more people trading on WazirX, the more valuable we can make WRX to be. It’s up to all of us to move WRX forward.

Jai Hind!

Nischal Shetty, CEO — WazirX. On a mission to involve every Indian in the blockchain revolution! Follow me on Twitter