As we have informed you earlier, the WEMIX BURN program has officially begun with the launch of the WEMIX BURN platform.
The WEMIX BURN program will be divided into 3 stages – Mass Burn, Batch Burn and Auto Burn –, depending on the type of burn, and both the investors and community can easily find out the details of each burning process.
WEMIX will keep moving forward to its long-term target of a healthy growth of the WEMIX ecosystem with the WEMIX BURN platform’s WEMIX BURN program under its belt. Also, the WEMIX team will spare no effort in realizing the growth of tokenomics while our investors and community continue to show us their unflinching support.
For more information, check the details below.
[WEMIX BURN Platform]
- Scheduled Date: May 10th, 16:00 PM 2023 (KST)
- Platform: https://wemixburn.com/
[WEMIX BURN Program]
1. 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
1. 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
2. Batch Burn
- 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.
- 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.
3. Auto Burn
- 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.
- 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.
> 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.
Thank you.
WEMIX Community :
● Medium : WEMIX Communication | WEMIX PLAY | NILE
● WEMIX Channels : Twitter | Facebook(WEMIX Platform) | Facebook(WEMIX Games) | Telegram | Reddit
● Medium : WEMIX Communication | WEMIX PLAY | NILE
● WEMIX Channels : Twitter | Facebook(WEMIX Platform) | Facebook(WEMIX Games) | Telegram | Reddit