In order to fund the early stages of development, the Ethereum team sold ETH tokens in an initial token offering (ICO) that took place between June and August of 2014. The open-source cryptocurrency project was initially proposed by a Russian Canadian programmer Vitalik Buterin. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.Ethereum is a decentralized, Layer 1 smart-contract blockchain network that was launched in July of 2015. The information provided in this section doesn't represent any investment advice or WazirX's official position.
Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. Team WazirX Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. As always, we remain committed to providing our users with a safe and transparent trading experience. We hope this clarification addresses any confusion surrounding the management of WRX. since Jan 2022 onwards.ĭetails of the pending Burns are as follows: Burn Number Binance has not conducted the quarterly burn for the past 5 quarters i.e. A total of 9,633,333 WRX equivalent to ₹47 Crores INR ($6 Million USD) were burned during the 7th burn event (Transaction details here). The last WRX burn event (7th burn) for the quarter of Oct – Dec 2021 was executed by Binance on the unlocked token mentioned above on 9th March, 2022.
We would like to clarify that Binance is responsible for conducting the quarterly burn of WRX tokens. It is important to note that the WazirX team hasn’t received any token allocations.
Here is the list of wallet addresses where Binance is currently holding a total of 580.78 Million locked and unlocked WRX tokens:įrom these unlocked tokens, Binance transferred a total of 116.8 Million WRX tokens (11.68% of the total supply) to an treasury account of Binance on in four transactions on various dates. Furthermore, the wallets holding locked and released WRX tokens are also managed and controlled by Binance, including the release of such tokens based on the WRX Release Schedule. 108,401 BNB tokens worth USD 2 Million) were collected and retained by Binance.
The IEO for WRX was conducted by Binance, and all the sale proceeds of WRX IEO (i.e. In light of recent events, we would like to clarify that WRX token is controlled by Binance.
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