WEMIX Price (WEMIX)

What Is WEMIX3.0 (Mainnet)?

WEMIX3.0 mainnet is an “experience-based, platform-driven & service-oriented decentralized blockchain protocol” which powers a “mega-ecosystem” of web 3.0 platforms. The mainnet is a high-performance Ethereum Virtual Machine (EVM) compatible open-source protocol powered by the SPoA (Stake-based Proof of Authority) consensus mechanism. The mainnet claims to offer the highest security possible, based on decentralized on-chain governance via 40 Node Council Partners(NCP), also known as 40 WONDERS, while still ensuring high transaction per second (TPS). Consensus will evolve towards complete decentralization through a multi-phase democratized governance.

What Is WEMIX?

WEMIX, the native coin of the WEMIX mega-ecosystem, serves as the primary medium of exchange and payment method for gas fees. With the introduction of the 'Brioche' hard fork, WEMIX tokenomics have undergone significant transformations, creating a sustainable and value-driven ecosystem. The hard fork permanently reduced and capped the total supply at 590 million WEMIX to preserve the token’s value and stability. The 'block minting halving' mechanism, introduced by the Brioche hard fork, is designed to gradually reduce the minting rate of WEMIX per block called 'Permanent Minting Reward (PMR)’ over time. Initially, WEMIX was minted at a rate of 1 WEMIX per block, amounting to 86,400 WEMIX per day or 31,536,000 WEMIX per year. The first halving reduced the annual minting amount to about 15 million WEMIX. This systematic reduction continues in 2-year cycles, progressively decreasing the number of tokens minted and fostering a more stable and advanced tokenomic structure.

Who Are the Founders of WEMIX?

WEMIX was founded in 2018 by WEMADE TREE(now Wemix PTE. LTD.), a subsidiary company of WEMADE, and began the journey with a solid vision to create a blockchain gaming platform servicing various games, connecting the in-game and the real world economy via tokenomics.

In August of 2021, WEMADE launched the flagship title, MIR4, on the WEMIX platform, triggering an unprecedented paradigm shift in the gaming industry. MIR4 has achieved unequaled success only four months into launch with more than 1.4M concurrent users and 20M cumulative registered users from more than 170 countries worldwide.

WEMIX has spearheaded the P2E market ever since. On October 20th 2022, WEMADE released WEMIX3.0, its own independent blockchain network, to further enhance the mega-ecosystem and establish WEMIX Coin as a key currency in the blockchain industry.

What Makes WEMIX Unique?

WEMIX and the mega-ecosystem contains individually functional and collectively aligned key platforms and components that directly contribute to its growth and expansion.

The ecosystem contains:

WEMIX Play: Claimed to be world's largest and fastest play-and-earn (P&E) gaming platform home to numerous multi-genre games from all over the world that implements the "pay" segment into the experience cycle of global gamers.

NILE: The next-generation DAO-powered community platform built for the creation, facilitation, and management of projects through the Neith Protocol (programmable smart contract mechanism), innovating opportunities realized through collective potential.

WEMIX.Fi: The official DeFi platform that provides secure and transparent services for users such as swap, staking, pool, borrow, bridge and more. With high TPS and low gas fees, WEMIX.Fi claims to ensure the best experience with reliable financial services.

WEMIX$: The official stablecoin protocol with 100% collateralization of on-chain and off-chain secure assets such as USDC and Fiat currencies, adhering to the philosophy that quantitative growth of WEMIX$ leads to the qualitative growth of WEMIX.

WEMIX Wallet: The decentralized native wallet of WEMIX that provides experience-centric services in managing funds and crypto-assets without the need of custody over them; the wallet is a non-custodial crypto wallet designed to provide users sole control over their private keys.

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, whereas 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 that connects people with common interests based on the tokens and NFTs the users hold.

40 WONDERS: Also known as Node Council Partners(NCP), 40 WONDERS is constituted by technology sponsors and ecosystem sponsors that represent the interests of the WEMIX community as a whole, and secure WEMIX network via governance.

Related Pages

Check out Gala Games (GALA) — a blockchain gaming platform aiming to make “blockchain games you’ll actually want to play.”

Check out Illuvium (ILV) — an AAA-rated open-world fantasy battle game built on the Ethereum blockchain.

Find out more about Axie Infinity (AXS) — the blockchain-based trading and battling game that kicked off the play-to-earn trend.

Learn more about The Sandbox (SAND) and Decentraland (MANA) — two popular metaverse-focused gaming platforms.

Keep up with the latest crypto news, project deep dives and more on CoinMarketCap Alexandria.

How Is the WEMIX Network Secured?

WEMIX is a high-performance EVM-compatible open-source protocol powered by the SPoA (Stake-based Proof of Authority) consensus algorithm, which is secured by 40 decentralized authority nodes (40 WONDERS), operated by highly-qualified global partners.

WEMIX also applies the variable total gas fee formula which is part of EIP-1559, an implementation of the transaction pricing mechanism dynamically expanding and contracting gas prices intended to deal with momentary transaction spikes in the network. The mechanism simply makes it so that continuous attempts at malicious network spams inevitably become too expensive and therefore impractical for attackers, functioning as a reinforced security layer within the ecosystem.

Where Can You Buy WEMIX?

At the time of writing, WEMIX can be bought and traded on popular exchanges such as KuCoin, Gate.io, Huobi, Bybit, Bitget, Crypto.com, MEXC and more. Check out the full list of exchanges where you can buy and sell WEMIX here.