In 2022, WEEX, during the bear market, carefully polished its product, pursued excellence to improve its service, and achieved remarkable performance by taking advantage of its secure, transparent, professional, and compliant trading service experience, as well as its unique advantages such as trading depth, one-click copy trading, etc. WEEX rose against the trend and obtained fruitful operational results: registered users exceeded one million, contract business grew by 3000%, and ranked among the top 30 global exchanges.
In 2023, WEEX, building on its success, proposed three "winning logics": ultimate user service, technological stability and performance reaching first-tier level, and brand construction reaching global standards. WEEX also accelerated the pace of coin listing, timely launched hot-track coin pairs, and improved user trading activity. Furthermore, WEEX accelerated the global compliance process, initiated global talent recruitment, and accelerated the globalization market layout.
Opportunities are always reserved for those who are prepared. Based on the comprehensive internal cultivation in security, trading experience, product service, compliance, etc. in 2022, and with the rebound of the cryptocurrency market since 2023, WEEX has rapidly surged, with a monthly increase of 100% in trading users, daily addition of over a thousand registered users, and over 500 first-time depositors per day. Recently, the platform's daily active users (DAU) record has been refreshed almost every day.
Over a thousand new followers join every day. The capacity for top traders' followers has reached its maximum limit
With the increasing user activity, WEEX's platform is now attracting over a thousand new followers on average every day. This enables contract trading novices to experience zero-threshold copy trading and replicate the trading strategies of top traders for substantial gains.
One-click copy trading is a unique feature offered by WEEX in response to market pain points such as high contract trading thresholds, difficulty in profiting, and lack of time to monitor trades. This feature allows users to easily follow professional traders' operations with zero-threshold requirements. Not only does it lower the barrier to entry for contract trading, but it also increases the chances of profitable trades, saving novices from costly mistakes. The one-click copy trading system automatically synchronizes professional traders' opening and closing positions, saving users time and effort without the need for constant monitoring.
One-click copy trading is a unique feature offered by WEEX in response to market pain points such as steep contract trading thresholds, difficulty in profiting, and a scarcity of time to monitor trades. This feature allows users to easily follow professional traders' operations with zero-threshold requirements. Not only does it lower the barrier to entry for contract trading, but it also increases the chances of profitable trades, saving novices from costly mistakes. The one-click copy trading system automatically synchronizes professional traders' opening and closing positions, saving users time and effort without the need for constant monitoring.
WEEX selects excellent traders worldwide through strict screening. Each trader must comply with the platform's code of conduct and user agreement. Currently, over 5,000 professional traders have joined the platform for users to choose from. Traders can only receive profits when all positions are closed and the user's copy trading results in a profit, thus eliminating gray areas and protecting copy trading users.
At present, the amount of WEEX copy trading has exceeded 1 billion US dollars, with over 20,000 copy trading users and an annual return rate of over 365%.
First, to introduce slippage protection and compensation, triggering a 'depth of trading competition' in the industry.
In addition to one-click copy trading, the other advantage of WEEX that attracts users is its trading depth.
As we all know, when investors choose a trading platform, the most important factor to consider, besides the platform's strength and fund security, is the trading depth. A platform with good depth can keep the coin price relatively stable when handling large trades, without too much volatility. On the other hand, a platform with poor depth can be easily breached by large orders in one direction, causing sharp fluctuations, which can easily lead to liquidation. Poor trading depth can result in significant slippage, which often prevents users from buying or selling at their desired price when trying to buy low or sell high, causing them to miss out on profitable opportunities (when Limit Orders fail to be executed) or suffer significant losses due to the large difference between the actual transaction price and the desired price (when market orders are executed), turning strategies that could have been profitable into losses.
Therefore, for a trading exchange, in addition to hardware conditions such as overall strength and security, trading depth is the core competitiveness. WEEX is known for its trading depth and has established a liquidity center on the platform. In 2022, the platform completed liquidity 2.0 upgrade, constantly improving and breaking through in trading depth. It has now become part of the top tier of global trading exchanges in terms of order thickness and price difference, with better liquidity and order books than most contract trading platforms. It is on par with top platforms such as Binance and Huobi, with the top 10 orders for popular currency pairs already leading the industry, becoming a benchmark for the industry. With microsecond-level matching, zero slippage and zero needle insertion, it minimizes trading costs and liquidity risks, allowing users to trade with peace of mind even in extreme market conditions, and providing a smooth trading experience.
WEEX is the first in the industry to introduce the "Slippage Insurance" campaign, which serves to put trading depth to the test in real-world scenarios. When users open positions or place orders at lightning speed, the price displayed on the recorded screen/captured screenshot will be compared to the actual transaction price. When the ETH price difference is greater than 0.2U or the BTC price difference is greater than 2U, users can apply for compensation for the price difference.
Accelerating our globalization strategy layout through global talent recruitment.
During the bear market in 2022, WEEX not only did not lay off any employees but also continued to recruit every month, adding more than 200 new job positions throughout the year, including departments such as front-end/back-end, operations and maintenance, testing, business, liquidity, risk control, operations, customer service, and logistics.
To expedite its global market expansion in 2023, WEEX has launched an extensive global talent recruitment program targeting a range of positions, including overseas customer service, business development, and operations.
At the same time, after obtaining US MSB and Canadian MSB licenses, WEEX obtained the Saint Vincent and the Grenadines Financial Services Authority license (SVGFSA license) in early 2023. In February, WEEX also initiated the application for a Hong Kong cryptocurrency license to accelerate its global compliance process.
To attract global users, convenient and localized payment channels for deposits and withdrawals are essential. To achieve this, WEEX has integrated Alchemy Pay's fiat payment solution on top of its existing OTC payment channels like ChipPay. Users will be able to use over 300 payment methods such as Visa, Mastercard, ApplePay, and GooglePay in 173 countries and regions to directly purchase cryptocurrencies using local fiat currencies through Alchemy Pay's Fiat Onramp service. This provides diverse and localized options for WEEX's global users and enables them to complete transactions using their preferred payment methods.
In the future, WEEX will continue to introduce more payment partners to provide global users with safe, compliant, and convenient diversified deposit and withdrawal solutions.
The crypto market remains in a state of recovery, with no clear indications of off-exchange fund inflows. Regulatory developments have disrupted the market's mood frequently, and the anticipated new bull market hasn't yet started. However, as a contract trading platform, WEEX is more concerned about providing users with safe and user-friendly trading services, rather than the ups and downs of the market. To this end, WEEX will continue to improve and break through, responding to market and industry uncertainties through a determined effort to enhance its internal capabilities and upgrade its services. With an unwavering commitment to putting customers first and valuing partners, WEEX will face the ever-changing market with a safe, stable, and ultimate trading experience, and embrace the new round of bull market review.
If you are keen to become a WEEX Partner, do reach out to our Head of Global Expansion at [email protected]
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