Update on $WRX Token Management & Burn Clarification.
16 May 2023, 14:27
📢 Update on $WRX Token Management & Burn Clarification
In light of recent events, we would like to clarify that Binance controls the WRX token.
Binance had conducted the IEO for $WRX, and all the sale proceeds of WRX IEO (i.e., 108,401 BNB tokens worth USD 2 Million) were collected and retained by Binance.
Binance currently holds a total of 580.78 Million $WRX tokens, and the WazirX team has not received any token allocations.
The responsibility of conducting the quarterly burn of WRX tokens lies with Binance. The last WRX burn event (7th burn) for the quarter of Oct-Dec 2021 was executed by Binance on 9th March 2022. Binance has not conducted the quarterly burn for the past 5 quarters, i.e., since Jan 2022 onwards.
Full details here -