What Is Trade Mining? A Guide to Earning WXT Rebates on Futures Trading
When you hear the word "mining," you might imagine expensive, specialized equipment running 24/7 to dig for BTC. However, a completely different mechanism called "trade mining" has emerged in recent years.
Trade mining is a system where a portion of the trading fees you incur is rebated as tokens simply by trading on a cryptocurrency exchange. No equipment or electricity is required, and rewards accumulate with every trade. WEEX is currently hosting this trade mining event (Trading Reward Event).
What Is Traditional Mining?
First, for comparison, let's briefly review traditional mining. In Proof of Work (PoW) blockchain networks like BTC, massive computational power is required to generate "blocks" that verify and record transactions. Mining is the process where miners who win this calculation race receive BTC as a reward.
While individuals could participate with personal PCs in the past, it now requires specialized equipment called ASICs, and electricity costs have become extremely high. It is no longer realistic for the average retail investor to turn a profit.
What Is Trade Mining?
Trade mining (Trade to Mine) is a system that treats trading activity on an exchange as a "contribution" and distributes tokens as compensation. Exchanges boost trading activity by returning a portion of their fee revenue to users in the form of tokens.
The benefits for users are clear: you get a portion of your fees back just by trading as usual. Since higher trading frequency leads to larger rebates, active traders are the most likely to benefit.
Differences From Traditional Mining
Traditional Mining: Requires specialized equipment + massive electricity. Earns block rewards like BTC.
Trade Mining: Just trade as usual. A portion of the trading fees incurred is rebated in tokens.
How the WEEX Trade Mining Event Works
WEEX has established 8 ranks based on futures trading volume; the higher your cumulative trading volume, the higher your fee rebate rate. Rebates are processed in real-time and are granted as WXT as soon as the trading fee is incurred.
Ranks and Rebate Rates
Rank | Cumulative Volume Required | Rebate Rate | Next Rank Condition |
Bronze | Immediately after registration | 5% | 50,000 USDT+ |
Silver | 50,000 USDT | 8% | 100,000 USDT+ |
Gold | 100,000 USDT | 12% | 1,000,000 USDT+ |
Platinum | 1,000,000 USDT | 16% | 3,000,000 USDT+ |
Diamond | 3,000,000 USDT | 20% | 10,000,000 USDT+ |
Master | 10,000,000 USDT | 22% | 50,000,000 USDT+ |
Legendary | 50,000,000 USDT | 24% | 100,000,000 USDT+ |
King | 100,000,000 USDT | 27% | Highest Rank |
3 Tasks to Further Increase Your Rebate Rate
In addition to trading volume, you can further increase your rebate rate by completing the following tasks:
- Invite 3 friends to the event
- Share the event and join the Telegram community
- Achieve 1,000 WXT in mining rewards
How Much Can You Earn? Rebate Simulation
For example, assuming a WEEX futures taker fee of 0.08% (with a VIP level of 0), the estimated rebate amounts based on trading volume are as follows:
Trading Volume (USDT) | Fees Incurred (Est.) | Rank | Rebate Rate | Rebate Amount (Before WXT Conversion) |
10,000 | 8 USDT | Bronze | 5% | 0.4 USDT equivalent |
100,000 | 80 USDT | Silver-Gold | 8-12% | 6.4-9.6 USDT equivalent |
1,000,000 | 800 USDT | Gold-Platinum | 12-16% | 96-128 USDT equivalent |
10,000,000 | 8,000 USDT | Diamond-Master | 20-22% | 1,600-1,760 USDT equivalent |
Note: Fee rates and WXT prices fluctuate based on event conditions and market conditions. WXT prices are based on the closing price from 21:00 (JST) the previous day.
Important Points Before Participating
- Only USDT-M futures are eligible. Coin-M futures, stablecoin pairs (e.g., USDC/USDT), and 0% maker fee trades are not included in trading volume.
- Pre-registration via the event page is required. Trading volume before registration is not counted.
- Rebates are paid in WXT (WEEX's native token). WXT itself carries price volatility risk.
- Fraudulent trading volume, such as wash trading, will result in disqualification and forfeiture of rewards.
- Event rules are subject to change at WEEX's discretion.
Participate in the WEEX Trade Mining Event
Season 4 of the Trading Reward Event is currently underway. You can register for the event by clicking the "Entry" button on the event page. Only trading volume after registration is counted, so we recommend registering as early as possible if you are considering participating.
Register for a WEEX account (existing users can simply log in)
Select "Entry" on the event page
Trade USDT-M futures to receive a 5-27% fee rebate in WXT
This trading reward event is held regularly, and buyback events for the WXT earned are also held periodically.
FAQ
Q. How is trade mining different from regular mining?
Regular mining uses specialized equipment to perform calculations and earn crypto as a block reward. Trade mining requires no equipment; you simply trade as usual and receive a portion of the fees back as tokens. The barrier to entry is significantly lower, and you can participate naturally just by using the exchange.
Q. Where can I use WXT?
WXT is WEEX's native token, and holding WXT is one of the requirements for upgrading your VIP level or Elite Trader rank. You can also earn free airdrops by using WXT to participate in WE-Launch. Since it can be traded on multiple exchanges including WEEX, it can also be exchanged for other cryptocurrencies. For details, please see this page.
Q. Can beginners participate?
Anyone can participate by simply clicking the entry button. However, since it applies to futures trading (USDT-M), we recommend that you understand the mechanics and risks of futures trading beforehand. You can practice risk-free on WEEX using demo trading.
How Can I Use the Rebated WXT?
The WXT received from trade mining can be sold to recover a portion of your fees, or it can be utilized directly within the WEEX ecosystem.
Of particular note is participation in WE-Launch. WE-Launch is a program for early access to new tokens offered by WEEX, and holding WXT grants you eligibility to enter. In other words, the rebated WXT is not just a cashback; it also serves as an "entry ticket" for early participation in emerging projects.
Past WE-Launch projects have seen annual returns exceeding 200-400% in some cases, and your participation quota increases with the amount of WXT you hold. Using the WXT accumulated through trade mining for WE-Launch is one way to fully leverage the WEEX ecosystem.
Summary
Trade mining is a simple system where you get a portion of your fees back just by trading.
- Unlike traditional mining, no specialized equipment or electricity is required.
- WEEX's event provides a real-time 5-27% rebate on futures trading fees in WXT.
- Higher trading volume leads to a higher rank and an improved rebate rate.
- It is important to check for risks like WXT price volatility and specific trading conditions beforehand.
If you trade futures regularly, your rewards will accumulate automatically just by registering. It is a good idea to complete your registration during the event period.
Disclaimer
WEEX and its affiliates provide digital asset exchange services, including derivatives and margin trading, only to eligible users in legally permitted jurisdictions. This content is for general information purposes only and is not investment advice. Please consult with a professional when trading. Cryptocurrency trading is high-risk and you may lose all of your invested capital. By using WEEX services, you are deemed to have agreed to all relevant risks and terms of service. Please trade within your means and exercise your own judgment. For details, please check the Terms of Service and Risk Disclosure.
