WXT Token
WXT
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Wirex Token (WXT) powers the Wirex centralized crypto-payments and card ecosystem. The evaluation faced data gaps in Active Development and Community Support due to severe ticker collisions with an unrelated token (WEEX Token) and an open-source web framework, precluding reliable scoring for those two sections. Among the scorable categories, Tokenomics (4.5/10) reflects platform-dependent card rewards and heavy centralization, with 66% of the token supply held by the company and team. Market and Use Case (3.5/10) is constrained by micro-cap liquidity ($2.46M-$10.8M market cap, ~$300K 24h volume) and a 97% drawdown from all-time highs. Team and Governance (5.0/10) benefits from a known corporate background but lacks decentralized governance or updated continuity verification. Security and Audit History (6.0/10) notes no protocol-level exploits or legal proceedings, though CertiK records no third-party smart contract audit on file and assigns a weak 45% code security component. The overall weighted score is calculated from the four available sections, with missing section weights redistributed proportionally.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About WXT Token (WXT)
Wirex Token (WXT) is a utility token that powers the Wirex payment and wallet ecosystem, serving to bridge fiat currencies and digital assets. Operating on the Ethereum blockchain, WXT is integrated directly into the Wirex application and payment card services. Its primary functionality revolves around platform-specific benefits, including Cryptoback rewards of up to 4% on card transactions and an annual savings bonus of up to 12% for qualifying holders.
The token launched with a fixed total supply of 10,000,000,000 WXT, with an initial allocation documented in its 2019 whitepaper. Token distribution is heavily centralized, with 66% allocated to company-controlled reserves and team members (49% platform reserve and 17% team). The project design includes a time-boxed burn program targeted to burn up to 25% of the reserve supply over five years, along with transaction-linked burns. Platform governance remains centralized under the operating company, lacking a decentralized autonomous organization (DAO) or on-chain voting rights for token holders.
WXT has experienced notable market and security-related challenges. The token has sustained a severe price drawdown of approximately 97% from its all-time high, with trading volume and liquidity remaining low and concentrated on limited exchanges. The token also experiences marketplace brand confusion due to sharing the WXT ticker with WEEX Token. Additionally, while no hacks, protocol exploits, or regulatory actions have been documented against Wirex's token, security assessments from CertiK record no third-party smart contract audit on file and assign a low 45% code security rating.