The Eighth Phase of ‘WELL Vault’ will Burn 19.76 Million WELL, the Ninth Phase is Now Online

Dear Users,

The seventh phase of WELL Vault has officially ended on 15 Sep 2021 at 15:59:59 PM(UTC), details are as follows:

  • Users deposited a total of 53,923,244.97 WELL, accounting 37.51% of the circulation, which has been unlocked and returned to spot accounts now.
  • The rewards have been settled and 315,000 WELL have been proportionally distributed. Users can log in to BitWell accounts to check.
  • According to the Community Governance Incentive Burning rules, a total of 19,766,325 WELL will be burned in the eigth phase of ‘WELL Vault’, of which:
    Circulating market value factor of 14,374,000 WELL: average circulating market value 75,719,419.7 / average price 0.526780435 * 10%;
    Pledged volume factor of 5,392,325 WELL: 10% of the total pledged volume of 53,923,244.97 WELL;
    BitWell will complete the burning within 7 days.

At the same time, In order to better empower WELL, we have upgraded the ‘WELL Vault’ in response to suggestions from our community users. Users who collect a set of ‘BITWELL’ will be able to redeem a generous WELL reward.

For more details on the Limited Edition NFT Commemorative Card and WELL Vault Phase 9, please refer to the official announcement.

You can visit the BItWell website and click on “WELL Vault” , or click directly to the vault page: https://www.bitwellex.com/pledge.

WELL Benefits

In addition to participating in the WELL Vault, users holding WELL can also enjoy the following benefits: WELL Pool, discounted trading fees, fee credits, additional rebates, priority purchase rights for products, community voting rights, community governance rights and more.

For more information on the benefits of WELL, please refer to ‘About the BitWell Platform Token WELL’.

Risk Warning

Cryptocurrency investment is innovative blockchain products, and subject to price fluctuation. Please judge your risk-taking ability rationally and make your investments with caution.

BitWell is not responsible for any direct, indirect or consequential losses as a result of the cryptocurrency trading and holding.

BitWell Team
2021/09/17



BitWell is committed to building a fair and transparent global digital asset trading platform, providing investors with secure, convenient and intelligent blockchain derivatives trading services.

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