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What Is WEMIX?
WEMIX is an independent blockchain protocol, also known as a mainnet which is experience-based, platform-driven & service-oriented, developed by Wemade Tree Pte. Ltd (now Wemix PTE. LTD.) which is a subsidiary company of WEMADE as its flagship blockchain gaming services arm. WEMIX, in the blockchain context, powers a whole ecosystem of Web3 platforms and is thus, named WEMIX 3.0
WEMADE is primarily a gaming company which has flourished in the gaming market for over 2 decades and is publicly traded at Kosdaq (Korea Stock Exchange). The company holds more than 40 renowned game IPs including ChuanQi, the legendary AAA game in China, reaching over 500 million users.
The mainnet is EVM compatible, open-sourced and comprises a SPoA consensus mechanism with the highest security a mega ecosystem could possibly offer.
It is based on decentralized on-chain governance via 40 WONDERS, known as the 40 Node Council Partners(NCP), while continuing to offer tremendous transaction per speed (TPS). They seek to head towards complete decentralization through numerous phases of democratized governance.
The Team behind WEMIX
WEMIX was brought to existence in 2018 by WEMADE TREE(now Wemix PTE. LTD.), with a vision to bring a blockchain gaming platform servicing numerous games, connecting the in-game and the real world economy through tokenomics to the folks exploring the Web3 gaming ecosystem.
WEMADE launched their flagship title around August 2021, MIR4, on the WEMIX platform, revolutionizing the gaming industry. MIR4 has over 1.4 Million+ concurrent users and 20 Million+ registered users from over 170 countries across the world.
WEMIX has claimed unequaled success over the Play-To-Earn (P2E) market ever since. WEMADE launched WEMIX3.0 in October, 2022 with the goal to level up the gaming ecosystem, making the WEMIX Coin as the governing currency to run the ecosystem, heading towards complete decentralization at a rapid pace.
What Makes WEMIX Unique?
WEMIX’s mega ecosystem. This whole universe consists of multiple individual functional as well as collectively aligned platforms which consistently play a role in its growth, development and expansion.
The ecosystem’s main components are listed below:
- WEMIX Play: The world’s largest and fastest play-and-earn (P&E) gaming platform which houses numerous games belonging to varied genres worldwide which puts the “pay” to earn segment into the realm of experienced gamers.
- NILE: Nile is a DAO-powered community platform built for the creation, facilitation, and management of projects through the Neith Protocol, which is a programmable smart contract mechanism, bringing about opportunities realized through collective potential.
- WEMIX.Fi: The official DeFi platform of the WEMIX ecosystem which provides transparent services for users such as swap, staking, pool, borrow, bridge and more in the most secured manner possible. This along with guaranteed high TPS and low gas fees, WEMIX.Fi ensures a smooth & reliable experience with reliable financial services.
- WEMIX$: The official stablecoin of protocol with 100% collateralization of on-chain and off-chain secure assets such as USDC and Fiat currencies, where the quantitative growth of WEMIX$ results in the qualitative growth of WEMIX.
- WEMIX Wallet: The decentralized native, non-custodial wallet of WEMIX which aids users to manage their funds and crypto-assets without the need of custody over them. Users have access to their own keys and hence, complete control.
- WEMIX Explorer: There are two components to the WEMIX Explorer, the Macroscope and the Microscope. The Macroscope of WEMIX is the collection of data that directly influences the growth of the ecosystem as a whole, and on the other hand, the Microscope analyzes activities including detailed transactions and block validations within the WEMIX blockchain network — known as a blockchain explorer.
- Papyrus: Papyrus is a seamless token-based communication tool which connects individuals on the basis of common interests based on the tokens and NFTs the users hold.
- 40 WONDERS: Also known as Node Council Partners(NCP), 40 WONDERS constitutes technology sponsors and ecosystem sponsors which represent the interests of the WEMIX community as a whole, and secures WEMIX network through governance.
The WEMIX Token
WEMIX is the native currency and utility token of the WEMIX mega-ecosystem, used as a medium of exchange and payment method for gas fees.
One WEMIX coin is minted per block created, and the PMR (Permanent Minting Reward) is distributed respectively to NCP (40%), stakers (10%), ecosystem fund (25%) and maintenance (25%).
The tokens are primarily issued on public chains and are then transferred to the service chains when necessary. They can be transferred to any chain, without any barriers.
Their utilities include serving as a medium for trading activities, currency for in-game purchases, usage of B2B solutions, crowdfunding, staking, for public events such as airdrops and for the purpose of deposits within the ecosystem.
At the time of writing this article, there is a total circulating supply of 240 Million WEMIX, with a market cap of $470,952,188.
Where is WEMIX headed?
(Market Cap of WEMIX in the past 30 days, source: CoinGecko
WEMIX is currently in their Phase 01 and have mapped out their Phase 02 & 03 with certain disintegrations, focusing on increased decentralization.
BNS x WEMIX
BNS will be listing the WEMIX token on the 20th of February, 2023. Users stand a chance to win rewards worth $40,000 via three special campaigns planned out for you, dear users.
Stay tuned on our social media channels for more details!
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