Websea platform devotes 70% of its native tokens to community and ecosystem development, shift from traditional exchange

Websea_OfficialNov 15, 2023
Websea platform devotes 70% of its native tokens to community and ecosystem development, shift from traditional exchange

Cryptocurrency exchange platform tokens have always been a hot topic of interest for users. However, with the bearish market trend, the performance of this asset category no longer mirrors the bullish trends seen during the bull market period. Nevertheless, Websea's platform token, WBS, made its debut on the 9th of October, achieving an astonishing surge of 1600%, attracting widespread attention across the industry.

Price trend chart of WBS assets on the Websea platform

Before delving into the reasons behind the skyrocketing of WBS and the core advantages of the Websea platform, the following text will first provide a rough introduction to the industry background.

I. Unlimited prospects for encrypted asset trading, but mainstream exchanges face fierce competition and challenging transformations

On November 10, 2023, an interesting phenomenon emerged, indicating that the financial landscape is quietly undergoing changes: the daily trading volume of Hong Kong stocks was less than 10 billion US dollars, while on the same day, the daily trading volume of just one cryptocurrency exchange, Binance, reached as high as 12.6 billion US dollars. This sharp contrast vividly illustrates the increasing importance and influence of cryptocurrency exchanges in the financial sector.

However, the market competition among centralized cryptocurrency exchanges is exceptionally fierce. Exchanges such as Binance, Coinbase, and OKX collectively occupy over 88% of the market share. Most of these exchanges were established during or around the first Bitcoin bull market, and as a result, they have already secured significant positions in the market. However, it is precisely due to the massive reputation of these big exchanges that the costs of attempting and experimenting with innovation have become extremely high.

Intense competition among top-tier CEX platforms

This situation has resulted in most exchanges still being in the early stages of development and integration of platform tokens. In a sense, this provides an excellent opportunity for new upcoming exchanges to do things differently and overtake.

More importantly, a new trend is emerging in the crypto community, moving away from venture capital (VC) and towards decentralization. In this context, community-driven projects such as BRC20, PEPE, TG BOT, and others have gained widespread popularity among users. This trend not only reveals the market's desire for novel and innovative trading models but also suggests that traditional centralized exchanges may need significant adjustments to adapt to this changing trend.

As the cryptocurrency market continues to mature and evolve, and the community relentlessly pursues decentralization and innovation, emerging exchanges like Websea have the opportunity to meet new market demands by providing unique services and products. In the following sections, we will delve deeper into how Websea can capitalize on this opportunity, and stand out in the cryptocurrency exchange sector through its unique economic model and innovative strategies.

II. Community-Driven Cryptocurrency Trading Platform Websea: Over 70% of Tokens Allocated to Community Incentives and Ecosystem Development

Since its official launch in the third quarter of 2023, Websea, as an emerging cryptocurrency exchange, has gained prominence in the cryptocurrency trading sector with its unique core philosophy. As a community-driven platform, Websea has adopted a groundbreaking approach in the allocation of its governance token WBS: over 70% of the tokens are dedicated to community incentives and ecosystem development. This strategy not only demonstrates Websea's steadfast commitment to the community-driven model but has also garnered widespread recognition from a vast user base.

Websea's Banner Poster Background Image

In the core philosophy of Websea, the innovative tokenomic system and a profound understanding of the Web3 industry take a central position. The platform is committed to providing users with high-quality, secure digital asset services, reflected not only in the efficient operation of its trading system but also in its comprehensive care for users. At Websea, users can engage in various operations such as trading, investing, and participating in community governance. Also, users are incentivized through these actions. This reward mechanism encourages active participation in the platform's daily operations, creating an interactive and vibrant community.

The performance of the WBS token since its launch is a strong testament to the core principles of Websea. The token has demonstrated a steady upward trend since its listing, showcasing market approval of the Websea model and initial affirmation from the community regarding this innovative exchange. Websea's success lies not only in being a trading platform but also in being an ecosystem that leverages blockchain technology and decentralized principles to create value for users and the community.

As Websea continues to evolve and improve, its core principles—innovation, community-driven, and user participation—are expected to attract more attention and participation, bringing new vitality and possibilities to the cryptocurrency trading domain.

III. Platform Token Embeds "X to Earn" Model, Allowing Players to Earn WBS for Completing Tasks

In the current market of cryptocurrency exchanges, most platform tokens still have limited use cases, often revolving around fee discounts and new coin launches. However, Websea takes a more innovative  approach. By incorporating the "X to Earn" token economic model inspired by a common practice in the Web3.0 space, Websea enables users to share the dividends of ecosystem development while contributing value to the ecosystem. This model not only recognizes user contributions but also serves as a mechanism to encourage user participation and innovation.

In the token economic system of Websea, 60% of fees are allocated to community incentives and 10% to ecosystem development. This distribution strategy means that users can earn platform tokens through various methods such as registration, inviting new users, and trading. This incentive mechanism not only increases user loyalty to the platform but also fosters deeper interactions and engagement between users, products, and the entire ecosystem.

In traditional exchange models, transaction fees, as the core source of revenue for the exchange, are typically not shared with users. However, Websea adopts a community-driven strategy by returning 70% of the platform's transaction fees to WBS holders. This strategy not only demonstrates Websea's emphasis on users but also reflects its commitment to the principles of the sharing economy.

The distribution mechanism of WBS is designed to be applicable to the entire ecosystem. This way, the platform token circulates throughout the ecosystem, incentivizing more participants to join and collectively build the Web3.0 ecosystem. This comprehensive incentive and distribution mechanism are key differentiators for Websea when compared to other exchanges, Not only fostering active engagement within the community but also instilling strong motivation for the well-being and sustainable growth of the entire ecosystem.

Websea, through its innovative "X to Earn" token economic model, showcases a new path that tightly integrates user active participation and ecosystem development. This model not only serves as a significant supplement to traditional exchange models but also provides a new perspective and possibilities for the future development of cryptocurrency exchanges.

IV. Users Need Not Worry About Inflation, Burning and Destruction Mechanisms Highlight the Scarcity of WBS Token Assets

Websea's tokenomic model places special emphasis on preventing inflation. They not only cleverly enhance the effectiveness of incentives but also control token issuance through a comprehensive burning mechanism, integrated into all incentive processes such as registration, invitation, and trading.

In the incentive for registered users, new users must unlock registration airdrops through valid transactions, and these airdrops have a 15-day release period. This design not only encourages new users to deeply understand and experience the full range of platform functionalities but also prevents the abuse of incentives.

In the design of trading incentives, Websea employs a carefully planned allocation strategy: 50% for trading discounts, 20% as rewards for WBS staking users, 10% to be burnt, and the remaining 20% for the platform's daily operations. This allocation model not only encourages users to trade and stake but also ensures that trading incentives are below the cost of trading, effectively preventing the malicious inflation brought about by fake trading volume-induced false prosperity.

Continued Burning of WBS

In terms of the personal invitation mechanism, Websea has adopted an effective strategy to avoid the drawbacks of invalid users flooding airdrops, while incentivizing user growth through an invitation leaderboard mechanism. This mechanism has proven to be efficient in user growth strategies in projects like Blur and Bigtime.

The team invitation reward mechanism of WBS is designed not to trigger inflation of the platform's native coin. Meanwhile, the reward of a half-price purchase of BTC is sufficient to attract active participation from community leaders.

The combination of these strategies not only demonstrates Websea's innovative thinking in controlling inflation and incentivizing user participation but also signifies the deflationary trend of WBS, which is a positive signal for long-term investors. Through this comprehensive incentive and control mechanism, Websea showcases advanced concepts and effective strategies in token economic management.

In building and maintaining a healthy token economic system, adjusting token incentive mechanisms flexibly to meet the needs of ecosystem development is crucial. Websea demonstrates a high level of insight and strategic thinking in this regard.

Ⅴ. Token incentive strategies are adjusted according to different stages, showcasing Websea's enhanced adaptability to the market and users

During Websea's launch phase, the team's primary goal is to accumulate users through WBS token incentives and user acquisition strategies. The key to this strategy is to rapidly attract user participation, to establish a user base and a market position. However, this period also imposes high demands on the team's product operation and capital strength. Any misstep in strategy or adverse market changes during this phase could lead to project failure. Therefore, Websea's team needs to be particularly cautious during this stage, ensuring effective implementation of strategies and risk management.

Once past the launch phase, Websea's team plans to shift focus to empowering WBS. This involves increasing the use cases of WBS through external collaborations and product innovations. By expanding the use cases of WBS, Websea can enhance the token's utility and attractiveness, contributing to the overall vitality and sustainability of the ecosystem. Introducing partners and launching new products will be crucial at this stage, further solidifying Websea's market position as an innovative and user-friendly platform.

The adaptability and foresight demonstrated by Websea in its token incentive strategy not only reflect its deep market understanding but also showcase its commitment to the long-term health and stable development of the ecosystem. As the Websea ecosystem matures and expands, we can expect to see more instances of innovation and collaboration, contributing to the continuous growth and success of Websea in the cryptocurrency exchange market.

Ⅵ.The Unique Dual-Account Wallet System Design Highlights Innovation, Significantly Combining Asset Security, and Trading Experience

Websea's dual-account wallet system is an innovative highlight of its platform, fully emphasizing simultaneous consideration for user experience and asset security. The core of this system lies in combining centralized and decentralized attributes, providing users with flexible ways of managing assets. The design features and workings of this new system are as follows:

1. Flexibility and Choice: Users can choose between the centralized CEX asset custody mode or independently manage assets in various ways. This flexibility caters to the needs of different users, whether they prioritize security or seek more autonomy.

2. Seamless Integration: Platform accounts can integrate third-party decentralized accounts, such as Metamask, seamlessly connecting to Web3.0 applications and services. This integration provides users with a convenient interface to access a wide range of Web3.0 ecosystems directly from the Websea platform.

3. Identity and Value: The Websea wallet is not just an asset management tool; it is equivalent to an identity account. In the Websea ecosystem, users can enjoy multiple values such as identity, asset, and interaction.

Therefore, this innovative design corresponds to and addresses the following pain points:

1. Limitations of Traditional Exchanges: Traditional exchanges, while operationally convenient, pose risks in user asset management. Users have limited control over their assets, leading to certain security risks.

2. Challenges of Decentralized Accounts: Although decentralized accounts give users more control, the operational threshold is higher, and new users may find it confusing and challenging to get started.

3. Future Trends of Web3.0 Wallets: With the rise of Web3.0, wallets are considered crucial entry points to capture user traffic. Utilizing technologies like MPC (Multi-Party Computation) and account abstraction can lower user participation thresholds, helping CEXs improve their overly centralized image.

4. Addressing Regulatory Pressure: The new narrative of Web3.0 wallets helps exchanges cope with increasingly complex and stringent regulatory pressures. Custody and self-custody face significant regulatory differences, and Websea's dual-account system provides users with flexible choices while offering the platform a more strategic space in the regulatory environment.

Through its dual-account wallet system, Websea not only enhances the user's asset management experience but also provides stronger security for user assets. This innovative wallet system is expected to become a significant symbol of Web3.0 era exchanges, offering users more autonomy, security, and convenience.

VII. Websea's platform logic for viral growth will be validated by the market, and a daily maximum increase of 1600% may become the norm

After a thorough analysis of Websea's token economics and market strategy, we can conclude that Websea, as a new cryptocurrency exchange, presents a radical yet meticulous image. This balance is crucial in the current crypto market, especially for emerging exchanges, where the importance of such a strategy is self-evident.

Websea's token incentive design shows its keen understanding of market dynamics, in-depth insight into user needs, and accurate grasp of market trends. Especially in the current environment of the crypto community, where users are highly sensitive to incentive mechanisms, Websea's strategy shows immense potential during the initial market cold start phase. The capital strength behind it also suggests the likelihood of success in early user accumulation.

However, facing long-term market competition and development, Websea also needs to demonstrate more robust product operation capabilities and capital strength to firmly establish itself in the competitive market. It needs to find a balance between innovation and stability, ensuring that it can pursue novelty and attract users while providing stable and reliable services.

Websea's development trajectory offers a unique perspective on the cryptocurrency industry and the development of Web3.0. It not only reflects the survival strategies of crypto projects but also maps out trends and challenges in the Web3.0 era. With the rise of such emerging platforms, we can expect to see more innovation and dynamic changes in the cryptocurrency market, providing new insights and vitality for the industry's future development.

The case of Websea undoubtedly provides a new perspective on the current crypto market, and every step of its development is worth careful observation and learning for both insiders and outsiders of the industry. Certainly, we have reason to believe that as Websea's user base undergoes fission expansion, the future performance of WBS is worth anticipating, and the myth of continuous daily gains exceeding 1600% may become a common occurrence.


This article is for informational purposes only. It is not offered or intended to be used as investment or other advice.

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