Cryptocurrency exchange Wowoo Exchange Hong Kong will roll out a virtual assets deposit service for its platform token WWX starting Dec. 25.
According to the announcement, the deposit service offers users two plans: lock up WWX for six months for an annualized interest rate of 5 percent with a cap of 100 million WWX, or for 12 months for an annualized interest rate of 12.5 percent with a cap of 100 million WWX.
In order to avail the service, users need to comply to the following process:
- Get your account ready and KYC verified on Wowoo Exchange Hong Kong (www.wowooexchange.hk).
- Deposit your WWX on Wowoo Exchange Hong Kong from December 25 onwards.
- Visit the “Virtual Assets Deposit” page and subscribe for the plan that’s suitable for you. You can join both plans.
- You are able to check the information of your deposit status and interests receivable on the “Virtual Assets Deposit” page.
- Once you confirm your subscription of your deposit plan, you understand and agree that your WWX is locked and is not available for trading, withdrawal or being used to pay for platform fees throughout the whole length of the relevant Plan period.
- You will receive your originally deposited amount and accrued interests in WWX credited to your account on the maturity date. Please note that you can trade, withdraw or use your WWX being deposited only if they are returned to your account on your profile.
- You are not able to subscribe for a plan once its subscription has reached its cap. We recommend you to take action as soon as possible if you want to take up the opportunity.
WWX will also offer a 50 percent discount on the platform fee (e.g. trading, withdrawal, etc.) according to the “WWX Terms and Conditions” until March 16, 2020.
The token will be initially traded against BTC and USDT once it is listed on Wowoo Exchange Hong Kong.