The Seventh Phase of ‘WELL Vault’ will Burn 19.94 Million WELL, the Eighth Phase is Now Online

Dear Users,

The seventh phase of WELL Vault has officially ended on 31 Jul 2021 at 15:59:59 PM(UTC), details are as follows:

  • Users deposited a total of 62,346,765.62 WELL, accounting 45.48% of the circulation, which has been unlocked and returned to spot accounts now.
  • The rewards have been settled and 360,000 WELL have been proportionally distributed. Users can log in to BitWell accounts to check.
  • According to the Community Governance Incentive Burning rules, a total of 19,942,677 WELL will be burned in the seventh phase of ‘WELL Vault’, of which:
    Circulating market value factor of 13,708,000 WELL: average circulating market value 75,329,954 / average price 0.549532787 * 10%;
    Pledged volume factor of 6,234,677 WELL: 10% of the total pledged volume of 62,346,765.62 WELL;
    BitWell will complete the burning within 7 days.

At the same time, in order to express BitWell’s gratitude for the strong support from the community users, the eighth phase of the WELL Vault has also been opened, continuing the rules of the seventh phase: 1. 100,000 WELL in the initial prize pool; 2. The burning amount will be set according to the market value of WELL in circulation, the higher the market value in circulation, the more the burning amount.

For more rules and details about the eighth phase of ‘WELL Vault’, please refer to the official announcement.

You can visit the BItWell website and click on “WELL Vault” , or click directly to the vault page: https://www.bitwellex.com/pledge.

Vault Rights and Interests

Users participating in the WELL vault, in addition to being able to share the revenue with the platform, can also get the corresponding number of votes according to the number of pledges. Users will have the right to vote on the community and vote on the initiated proposals to achieve the governance of the platform.

To learn more about the rights and interests of WELL, please refer to About the BitWell Platform Token WELL.

BitWell reserves the right of final interpretation of the campaign and may make adjustments at any time depending on market conditions.

Risk Warning:

Cryptocurrency investment is innovative blockchain products, and subject to price fluctuation. Please judge your risk-taking ability rationally and make your investments with caution.

BitWell is not responsible for any direct, indirect or consequential losses as a result of the cryptocurrency trading and holding.

BitWell Team
2021/08/02



BitWell is committed to building a fair and transparent global digital asset trading platform, providing investors with secure, convenient and intelligent blockchain derivatives trading services.

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