Hello to the STEEMIT community in general, as you all know, we are working to grow our WOX-EXCHANGE project. From the beginning we have kept the idea of being able to keep the WOX token price stable, not moving below the TRX price. And if this is to happen, the burning of the token will be done for the purpose of recovering the price.
This is how we started with this first process of burning tokens, and it can be seen in the following pictures.
37202 wox was burned recently. Equal to $ 2630
In this way, the price of the WOX token was rated equally with TRX. Soon, we will be reporting more on our progress, which always benefits everyone.
We would like to highlight here part of the text where we explain how it works:
"WOX is based, not fixed.
Each WOX is supported by 1 TRX, not connected to it. Because the treasury supports all WOX at least 1 TRX, the law will buy and burn WOX if you trade below 1 TRX. This has the effect of pushing the WOX value back to 1 TRX. WOX can always trade more than 1 TRX because there is no maximum limit set by the law. Consider attachment == 1, while supported> = 1.
You could say the minimum price for WOX or the internal price is 1 TRX. We believe the real price will always be 1 TRX + premium, but in the end that depends on the market to decide. "