WOO X has announced a Transaction Fee Rebate event from January 23 to February 6, offering 0.1 basis point revenue distribution to WOO token staking users from trading volumes. The platform aims to enhance token utility and sustainability by reducing daily staking rewards by over 60% compared to Q4 2024 and plans a deflationary reward mechanism by Q1 2025. Additionally, WOO X will introduce tiered benefits and fee discounts for spot traders holding WOO, managed through the upcoming My WOO portal, which will integrate staking, yield products, and self-custody wallets.

BlockBeats News, January 22, according to an official announcement, WOO X has launched a Transaction Fee Rebate event. During the period from January 23 to February 6, the platform will distribute 0.1 bps of revenue directly to WOO token staking users from spot and perpetual contract trading volume. WOO X's Chief Strategy Officer, Bryan Chu, stated that compared to the fourth quarter of 2024, the platform has already reduced daily staking rewards by over 60% and plans to achieve a deflationary reward mechanism by the end of the first quarter of 2025. This move signifies a significant step for WOO in terms of token utility and sustainability. In addition, WOO X plans to introduce tiered benefits and fee discounts for spot traders holding WOO, without the need for lockups. These benefits will be managed through the upcoming My WOO portal, which will provide integrated access to staking, yield products, and self-custody wallets.

WOO X Announces Fee Rebate Event and Future Plans for Token Utility