WEMIX

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 &amp; 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]<ul><li>Scheduled Date: May 10th, 2023</li></ul>[WEMIX BURN Program]<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/3a81eb493d1049159fd4ca9439a74a67.jpg" /><ul><li>Mass Burn</li><li><ul><li>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.</li><li><ul><li>1st Mass Burn Amount:  <a href="https://medium.com/wemix-communication/wemix-mass-burn-to-deflationary-tokenomics-cddb9db04f58" rel="noopener noreferrer nofollow">71,302,181 WEMIX</a></li></ul></li><li>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.</li><li><ul><li>2nd Mass Burn Amount: <a href="https://scope.klaytn.com/tx/0xa2387770ef918fe6866983f064c5c92c10956d420a60fdbe3c8740811a71102c?tabId&#61;tokenTransfer" rel="noopener noreferrer nofollow">20,000,000 WEMIX Classic</a> (with top price set at $21.5 by  CoinMarketCap standard)</li><li>Next Price of Burn: $30</li></ul></li></ul></li></ul><ul><li>Batch Burn</li><li><ul><li>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.</li><li>As of March 9th, a total of <a href="https://medium.com/wemix-communication/final-report-of-wemix-buyback-burn-3-of-3-2-316-396-65-wemix-7e8fe15c0033" rel="noopener noreferrer nofollow">15,392,444.22 WEMIX</a> was burned in 3 burning processes.</li><li>Priority fees burned before transferring to the Mainnet’s phase2 period will be classified as  Batch Burn and as of today, a total of <a href="https://medium.com/wemix-communication/wemix-burn-1-777-wemix-52eab5e5f597" rel="noopener noreferrer nofollow">1,777 WEMIX has been burned</a>.</li></ul></li></ul><ul><li>Auto Burn</li><li><ul><li>Transaction Fee Burn:</li><li><ul><li>Base fees will be burned in real time.</li><li>Priority fees will be burned in real time after transferring to the Mainnet’s phase2 period.</li></ul></li><li>Service Revenue Burn: 25% of all the revenue occurring from currently provided services will be burned.</li><li><ul><li>Services provided: WEMIX PLAY, WEMIX.Fi, NILE * KLEVA will be later added after the service system’s establishment.</li><li>Revenues earned between each service opening and end of April will be calculated and burned in a 3-month period.</li></ul></li></ul></li></ul>Thank you.WEMIX Medium : <a href="https://medium.com/wemix-communication/pre-notice-of-wemix-burn-program-85dabd964aa5" rel="noopener noreferrer nofollow">https://medium.com/wemix-communication/pre-notice-of-wemix-burn-program-85dabd964aa5</a>WEMIX Communication Channels: <a href="https://twitter.com/WemixNetwork" rel="noopener noreferrer nofollow">Twitter</a> | <a href="https://medium.com/wemix-communication" rel="noopener noreferrer nofollow">Medium</a> | <a href="https://t.me/WEMIX_ANNouncement" rel="noopener noreferrer nofollow">Telegram</a> | <a href="https://www.facebook.com/WEMIXBlockchain/" rel="noopener noreferrer nofollow">Facebook</a> | <a href="https://www.reddit.com/user/WemixNetwork/" rel="noopener noreferrer nofollow">Reddit</a>

Pre-Notice of WEMIX BURN Program

WEMIX

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