When was WazirX (WRX) coin issued?

WRX coin, the native token of the WazirX cryptocurrency exchange, was officially issued on March 8, 2019, playing a pivotal role in the Indian crypto market's growth.

Nov 29, 2024 at 11:30 am

When Was WazirX (WRX) Coin Issued?

WazirX (WRX) is a cryptocurrency exchange launched in 2018 primarily for the Indian market. It facilitates the trading of various cryptocurrencies, including Bitcoin, Ethereum, and its own native token, WRX. The coin's issuance date plays a crucial role in understanding its history and development within the crypto market.

WRX Coin Issuance Details:

• Initial Coin Offering (ICO): WazirX conducted an ICO in March 2019, where 10% of the total WRX supply was offered for sale.
• Issuance Date: The WRX coin was officially issued on March 8, 2019.
• Total Supply: The total supply of WRX coins is capped at 1,000,000,000 (1 billion).
• Distribution: Out of the total supply, 50% was allocated to the company, 20% to the team, 20% to the community, and 10% was sold during the ICO.

Significance of the WRX Coin Issuance:

The issuance of the WRX coin marked a significant milestone in the growth and development of the WazirX exchange. It provided several key benefits:

• Trading Fees Discount: WRX holders receive a discount on trading fees on the WazirX platform, incentivizing coin ownership and driving usage.
• Staking Rewards: WRX can be staked within the WazirX ecosystem to earn passive income through rewards.
• Utility and Governance: WRX serves as a utility token within the WazirX ecosystem, enabling access to exclusive features and empowering users to participate in community decision-making through governance mechanisms.

Impact of WRX Coin Issuance on the Crypto Market:

The issuance of the WRX coin had a positive impact on the Indian crypto market, contributing to its growth and adoption. Here's how:

• Increased Liquidity: The availability of WRX as a trading pair on WazirX provided additional liquidity to the Indian market, allowing for smoother trading operations.
• Accessibility to Crypto: WRX's ease of purchase and low transaction fees made it accessible to a broader range of users, fostering crypto adoption in India.
• Community Engagement: The issuance of WRX strengthened the WazirX community, connecting users and enthusiasts through shared incentives and opportunities.

In conclusion, the issuance of the WazirX (WRX) coin on March 8, 2019, was a pivotal moment in the exchange's journey. It not only established WRX as the native token of the WazirX ecosystem but also played a significant role in boosting the Indian crypto market and empowering its users.