### What is WXT Token?

WXT Token, or Wirex Token, is a multi-blockchain cryptocurrency that operates on both the Stellar and Ethereum platforms. It is designed to function as the native token for the Wirex app, offering users access to exclusive rewards and the broader decentralised finance (DeFi) ecosystems. Its primary role is to reward loyal customers and integrate the Wirex platform with DeFi systems, helping users save on fees and earn financial rewards.

### How does WXT Token work?

WXT Token is built on the Stellar Network and Ethereum blockchain, which equips it with speed, efficiency, and flexibility. Utilising Ethereum's Proof of Stake (PoS) and Stellar's Federated Byzantine Agreement (FBA), WXT facilitates operations with less energy consumption and enhanced decentralisation resistance. It employs smart contracts on Ethereum for interacting with DeFi applications, providing multi-chain support alongside Ethereum and Polygon for deeper integration with DeFi and Web3.

### What are the potential use cases for WXT Token?

The use cases for WXT Token include:
- **Rewards and Discounts**: Users can enjoy exclusive discounts (up to 100%) on various fees such as exchange, withdrawal, and bank transfer fees.
- **Cryptoback Rewards**: Users can earn up to 4% back in WXT on Wirex card purchases and up to 12% annually on WXT account balances with the Savings Bonus feature.
- **DeFi Ecosystems**: Bridges traditional and decentralised financial systems, enhancing inclusivity and efficiency.
- **Payment and Transfer**: Enables quick and low-cost international money transfers without significant commissions or exchange rate losses.

### What is the history of WXT Token?

WXT was launched in June 2019 by Wirex, co-founded by Georgy Sokolov, initially as a reward token. Its Initial Exchange Offering (IEO) on OKEx in July 2019 gained significant traction, leading to availability on additional platforms like KuCoin. By May 2021, WXT had evolved into a multi-blockchain cryptocurrency incorporating both the Stellar and Ethereum networks, with 20% of the supply migrated to Ethereum to bolster DeFi integration. Throughout its history, WXT has continuously improved its blockchain partnerships and enhanced its reward programs, evolving from a simple reward token to a robust multi-chain cryptocurrency.

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