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Month in Review – October 2020

By November 5, 20203 minute read

Namaste Tribe! October was an eventful month, and November is already off to a great start with Bitcoin prices crossing $14,000! Where do you think is the market headed?

What happened last month

[Done] DATA listing & giveaway: We listed Streamr (DATA) on WazirX, and gave away $20,000 worth DATA via a host of activities like AMA with Head of Growth at Streamr, Highest Trader Kaun, Quiz Time with WazirX, DATA Trivia contest on Instagram, and DATA airdrop worth $9,250 to top WRX holders! Read more

[Done] 4 campus outreach: As a part of WazirX Campus Outreach initiative, we organised webinars for students of IIT BHU, IIT Bhubaneshwar, IIT Madras, and Welingkar Institute of Management. There were many questions from the attendees where they probed further about cryptocurrencies and blockchain. We’ll continue conducting more webinars at various institutes and train students in crypto. Read more

[Done] 2 WRX trading competitions: We also organised two trading competitions for WRX. The first one was a one-day WRX/INR trading competition. Then we also organised a 36-hours long trading competition marathon for WRX/USDT to celebrate the second WRX burn event.

[Done] Ethereum development workshop: One of our education partners, Qualki Academy hosted a 5-day workshop on coding using smart contracts through Ethereum blockchain. Students from various colleges like IIT Hyderabad, Assam University, IIIT Bhubaneshwar, IIT Bhubaneshwar, Dayanand Sagar Institution of Management Studies, etc. participated in the workshop. Read more

[Done] ADX listing & giveaway: We listed AdEx (ADX) on WazirX, and gave away $20,000 worth ADX via a host of activities like Communications Specialist at AdEx Network, Highest Trader Kaun, Quiz Time with WazirX, ADX Trivia contest on Instagram, and ADX airdrop worth $4,000 to top WRX holders! Read more

[Done] Second WRX burn event: We completed the second WRX burn for the the quarter of July to September on 13th October, 2020. We burned 3,333,333 WRX equivalent to ₹2,47,00,000 INR (~ $327,833 USD)! This burn event has permanently removed over $327,000 USD worth WRX from circulation! I’d also like to add that the amount of WRX burned this quarter is 300% more than the amount of WRX burned in previous quarter! Read more

[Done] WRX on Ethereum blockchain: We’re thrilled to announce that WRX is now also available on Ethereum blockchain! ? Binance’s Project Token Canal has recently added support for the Ethereum network which will allow users to convert BEP2 tokens to ERC20 tokens. WazirX’s utility token, WRX is a part of the first batch of BTokens, i.e., ERC20 tokens created via Binance Token Canal. You can now transfer WRX to any ERC20 address using Binance! Read more

[Done] 6 new INR pairs: Last month, we added six tokens to our INR (fiat) market! You can now buy, sell, trade EOS, LINK, UNI, YFI, SXP, and ADA in our INR market. Deposit INR instantly on WazirX, and start trading your favourite pairs!

[Done] 10 new USDT pairs: In October, we also added ten new token listings in our USDT market. You can now buy, sell, trade CREAM, YFII, AAVE, MKR, UMA, LRC, FIL, NEAR, CRV, and HNT in our USDT markets. Happy trading!

What we’re building

[Ongoing] AMM Protocol: There have been unforeseen delays in some of the protocols that our DEX is dependent upon. This is preventing us from going live. At this moment, we don’t have an ETA on how long this will take. Be assured that we’re working very hard with the protocol team to expedite the process.

[Ongoing] New tokens: We’ll be listing more tokens on WazirX in the coming weeks. Got any suggestions? Please tweet to us @WazirXIndia

[Ongoing] Faster KYC: We have been seeing a sudden and huge surge in new signups on WazirX. We are working hard to ensure KYC approval is expedited.

[Ongoing] Two new features: We’re working on two secret features which we’ll bring to you soon. 

Some highlights

1. WazirX Education Partner Programme got mentioned on Times of India

2. I spoke at Global Cryptocurrency Conference, hosted by BW Businessworld

3. WazirX COO, Siddharth Menon discussed “Farming in DeFi Space” in Crypto eWeekend

Something to add

In October, we saw the market being pretty volatile. Let’s hope that crypto prices go further up in November. We also look forward to launching WazirX DEX soon. Exciting times lie ahead!

Jai Hind ??

Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
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