Pre-Notice of WEMIX BURN Program

May 09 2023

With the launching of the WEMIX BURN platform, the WEMIX team will carry out the WEMIX BURN program, divided by 3 stages depending on the burn type. First, Mass Burn entails the burning of a large amount of foundation-owned WEMIX based on the foundation’s decision to lead a stable growth of the WEMIX ecosystem.

With the launching of the WEMIX BURN platform, the WEMIX team will carry out the WEMIX BURN program, divided by 3 stages depending on the burn type.

First, Mass Burn entails the burning of a large amount of foundation-owned WEMIX based on the foundation’s decision to lead a stable growth of the WEMIX ecosystem. In the 1st round of BBBBB (Burn for Break-even Block Below Billion), we have set the program’s largest issuance volume of genesis minting to fall short of 1 billion, and another round of Mass Burn will be carried out later on according to the foundation’s decision.

Second, Batch Burn is processed by returning a part of WEMIX foundation’s return on investment to the community and the market for the stabilization of the WEMIX ecosystem. Since it is highly difficult to specify profit generation, the amount and type of assets burned may be subject to change. As of today, we have proceeded with a total of 3 burns. Alongside the WEMIX BURN program, quarterly profit calculation and buyback & burn processes will also take place.

Last but not least, Auto Burn represents that the scale of burn is enlarged due to the development of WEMIX3.0 Mainnet and its platform on the basis of the community’s keen interest and participation. According to the WEMIX3.0 dynamic fee system, the Base Fee and Priority Fee will be burned entirely and the continuous burning of 25% of the platform profit will enable a stable burning of the network’s fees and the platform’s revenue, leading to the contracted token economy where the balance between minting and burning is reached.

Tokenomics will push the WEMIX ecosystem for a healthy growth and increase in value by narrowing the fluctuating gap between the growth-driven inflation and burning through the WEMIX BURN program.

All investors and the community can check out the entire burning processes on the WEMIX BURN platform.

For more information, check the details below.

[WEMIX BURN Platform]

Scheduled Date: May 10th, 2023

Mass Burn

Burning based on total issuance volume: In line with the foundation’s policy, the foundation’s holdings are burned to maintain total issuance volume under 1 billion WEMIX.
> 1st Mass Burn Amount: 71,302,181 WEMIX
Burning based on price: In line with the foundation’s policy, the price cap is set at $200 and 1% of the total issuance volume is burned from the foundation-owned asset under the condition that the previous top price is renewed after dividing sections of different price ranges in units of $10.
> 2nd Mass Burn Amount: 20,000,000 WEMIX Classic (with top price set at $21.5 by CoinMarketCap standard)
> Next Price of Burn: $30

Batch Burn is processed by purchasing and burning WEMIX using the foundation’s return on investment. It cannot specify the point of profit generation and the related assets will be burned after the release of the compliance report every quarter.
As of March 9th, a total of 15,392,444.22 WEMIX was burned in 3 burning processes.
Priority fees burned before transferring to the Mainnet’s phase2 period will be classified as Batch Burn and as of today, a total of 1,777 WEMIX has been burned.

Transaction Fee Burn:
> Base fees will be burned in real time.
> Priority fees will be burned in real time after transferring to the Mainnet’s phase2 period.
Service Revenue Burn: 25% of all the revenue occurring from currently provided services will be burned.
> Services provided: WEMIX PLAY, WEMIX.Fi, NILE
* KLEVA will be later added after the service system’s establishment.
> Revenues earned between each service opening and end of April will be calculated and burned in a 3-month period.

안녕하세요. 위믹스팀입니다.

위믹스는 WEMIX BURN 플랫폼을 출범하여, 소각 유형에 따라 3단계로 구분한 WEMIX BURN 프로그램을 시행합니다.

Mass Burn은 생태계의 안정적 성장을 위해 재단의 결정에 따라 재단 보유 WEMIX를 대량 소각하는 것으로 그동안 1차 BBBBB(Burn for Break-even Block Below Billion) 진행을 통해 최고 발행량이 제네시스 민팅 10억개에 못 미치게 디자인하였으며 향후에도 재단 결정에 따라 필요 시 Mass Burn이 진행됩니다.

Batch Burn은 위믹스 재단의 투자 수입의 일부를 커뮤니티와 시장에 환원하여 생태계를 안정화하기 위해 소각하는 것으로 수입의 인식은 특정할 수 없기에 소각되는 자산은 변동될 수 있으나 현재까지 3회에 걸쳐 진행된 바 있습니다. WEMIX BURN 프로그램 시행과 함께 분기별로 수입 정산 및 바이백 & 소각이 진행됩니다.

Auto Burn은 커뮤니티의 많은 관심과 참여로 인해 위믹스3.0 메인넷과 플랫폼이 성장함에 따라 소각의 규모 또한 확대되는 방식이며 위믹스3.0의 다이나믹 수수료 체계에 따라 기본 수수료(Base Fee)와 우선 수수료(Priority Fee)를 모두 소각하고 위믹스 플랫폼 수입의 25% 또한 지속적으로 소각함으로써 네트워크의 안정적인 수수료 소각과 함께 플랫폼의 수입이 소각되어 민팅과 소각의 밸런스로 수축 토큰경제로 나아가는 것을 목표로 합니다.

이로써 토크노믹스는 성장에 따른 인플레이션과 소각간 차이의 증감이 감소로 이루어져, 건강한 성장을 이끌어가며 동시에 가치의 상승이 이루어질 것 입니다. 모든 소각의 진행사항은 WEMIX BURN 플랫폼을 통해 투자자와 커뮤니티 모두 쉽게 확인하실 수 있습니다.

Pre-Notice of WEMIX BURN Program

[WEMIX BURN Platform]

[WEMIX BURN 플랫폼]