WEMIX

In an effort to foster a robust gaming ecosystem within the WEMIX PLAY platform, REFLECT has played a pivotal role in facilitating economic interactions between various games. Now, with the imminent launch of REFLECT on the WEMIX3.0 mainnet, a new chapter is about to unfold.The new REFLECT will mark a significant milestone as WEMIX integrates into the REFLECT Alliance. This positions REFLECT to contribute actively to the development of a thriving ecosystem and further bolster the WEMIX ecosystem.Originating from the PLAY chain, REFLECT has made substantial efforts to enhance the convenience for both existing and new REFLECT holders. Following the completion of the mainnet update, users will be able to experience improved fusion through WEMIX$, even if they do not hold various game tokens required for fusion.With the introduction of this new REFLECT, we anticipate significant strides towards the development of a healthier ecosystem. For more details, please refer to the content below.[Update Notes]<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/e5c1aad957774a329dab6b3b9e451e37.jpg" />1. REFLECT Mainnet Launch ▶ Mainnet REFLECT • Mainnet REFLECT is a newly issued mainnet-based token to enhance user experience. • PLAY chain’s REFLECT(Old) and mainnet’s Wrapped REFLECT must be bridged/exchanged to the mainnet’s REFLECT to use the REFLECT service.▶ Vault Feature Removal • Service use will be simplified as the vault for fusion and fission will be removed. • All digital assets in the vault must be withdrawn to use the REFLECT service. • All withdrawn assets from the vault will be directly displayed in your wallet balance on the REFLECT Fusion page.▶ REFLECT/WEMIX$ Liquidity Pool(LP) Change • The liquidity pool for the newly launched REFLECT will be created. • REFLECT(Old)’s swap will be unavailable, and only the withdrawal feature will be available in the existing REFLECT(Old)/WEMIX$ liquidity pool.2. REFLECT Fusion • In the previous fusion procedure, users must possess all REFLECT Alliance tokens to proceed with fusion. With the mainnet update, users can acquire unowned REFLECT Alliance tokens with WEMIX$, enabling fusion. • You can now acquire the required game tokens with WEMIX$ using Swap on the fusion page.3. REFLECT Fission • With the transition to the mainnet, REFLECT fission now offers the flexibility to choose whether to receive tokens at the time of fission as REFLECT Alliance tokens or an equivalent value in WEMIX$.4. REFLECT Alliance Revision • Revision will take place with the mainnet’s REFLECT Alliance policy. • The details of the revision are as follows.[REFLECT Membership Restruction]<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/b0fbf7f0b4414d45be11108cdee438ee.png" />1. Once the membership expulsion is decided, the details and schedule will be pre-noticed. 2. On the announced expulsion day, REFLECT-related systems will go under maintenance, and the entire amount of expulsed game tokens in the fusion vault will be withdrawn. 3. The prices of the expulsed tokens are determined based on the 7-day Time-Weighted Average Price (TWAP) as of the announcement date. This approach is taken to minimize the risk associated with price fluctuations of game tokens following the termination notice. 4. The new value of the REFLECT purchase(burn) price will be measured as the sum of each token at their TWAP. 5. The WEMIX foundation will purchase the REFLECT with WEMIX$ equal to the measured value and initiate the burn process, including the expulsed game tokens. 6. The new member WEMIX and game tokens will be joined into the REFLECT Alliance. 7. REFLECT is generated at a new ratio, and new REFLECT will be launched on the mainnet. 8. With the restructuring of the membership, the REFLECT holder will benefit from the increase of REFLECT value due to the increment of fusion ratio through the burn of the total amount of the REFLECT. REFLECT Fusion will contribute to the expansion of the WEMIX and REFLECT ecosystem as REFLECT now welcomes WEMIX along with the effect of increasing the amount of WEMIX and game tokens required for issuing new REFLECT. ※ You can find details of the expulsion in the REFLECT Playbook after the launch of the new REFLECT.[Mainnet REFLECT User Guide]<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/125279aa27284949ae72543c1a2c2df5.jpg" />※ The above image is a sample image for reference.1. Exchange of REFLECT and Vault Withdraw • To use the REFLECT service, it is necessary to hold only the mainnet REFLECT, and all assets should be withdrawn from the Vault. • Please proceed with bridge/exchange of PLAY chain’s REFLECT(Old) and mainnet’s Wrapped REFLECT to mainnet’s REFLECT.[REFLECT Exchange Procedure]<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/55c5c8a94e904d848ed51c02cebb8875.jpg" />※ Gas and service fees may occur when bridging and exchanging REFLECT between chains. ※ Please proceed with bridge/exchange in the WEMIX PLAY GameFi as the PLAY Wallet does not support the bridge of REFLECT(Old) and the exchange of Wrapped REFLECT.2. Fusion Guide 2.1. Fusion with Game Tokens • Conventional fusion method by using required game tokens.2.2. Fusion with WEMIX$ (New) • Without having all the necessary game tokens for fusion, you can use WEMIX$ by supplying the equivalent value of necessary game tokens by swapping and bridging each for fusion.[Fusion Disclaimer] ※ To supply required tokens with WEMIX$ for swap and bridge, you need to have sufficient WEMIX$. ※ Fusion may fail during swapping or bridging required tokens when the slippage rate is set low. ※ Service and gas fees may occur when using swap and bridge service during fusion. ※ When fusion on PLAY chain and mainnet fails after swapping and bridging for supplying REFLECT Alliance tokens, the swapped and bridged tokens remain in the final swapped and bridged chain.[Example] ※ When PLAY chain token is insufficient for fusion • Bridge WEMIX$ to pWEMIX$ and swap to PLAY chain token.&gt; When PLAY fusion fails • Return fused token as pWEMIX$ and PLAY chain token to the wallet.※ When PLAY chain, Mainnet tokens are insufficient for fusion • Supply required mainnet token by swapping WEMIX$. • Bridge WEMIX$ to pWEMIX$ and swap to PLAY chain token.&gt; When failed during the last stage, Mainnet fusion • Return the remaining pWEMIX$ after the swap and swapped PLAY chain token. • Return the remaining WEMIX$ after the swap and swapped mainnet token.3. Fission Guide 3.1. Fission to Game Tokens • Conventional method of fission to receive game tokens.3.2. Fission to WEMIX$ (New) • Select WEMIX$ for fission and receive WEMIX$ equivalent to the value of fissioned game tokens.[Fission Disclaimer] ※ Service and gas fees may occur when using the fission feature. ※ Service and gas fees may occur even when the fission fails. ※ You can select whether to receive WEMIX$ or game token for fission, but customized selection is unavailable. ※ When fission to WEMIX$ fails, PLAY chain tokens will be returned as WEMIX$, and mainnet tokens will be returned as game tokens.[Target Date] • Service suspension: Oct. 25th, 2023 at 12:00 (GMT&#43;9) ~ Until the update • Update schedule: Oct. 26th, 2023 at 12:00 (GMT&#43;9) ※ Update schedule may be subject to change according to the company’s circumstances.[Affected Services] • Bridge: Unable to select Wrapped REFLECT • Pool: Unable to deposit in REFLECT(Old)-pWEMIX$ (withdrawal is possible) • Swap: Unable to swap REFLECT(Old) • REFLECT: REFLECT page under maintenance[Update Platform] • WEMIX PLAY: <a href="https://wemixplay.com/" rel="noopener noreferrer nofollow">https://wemixplay.com/</a>Thank you.Official WEMIX site announcement: <a href="https://www.wemix.com/communication/23edc3db-9494-4813-a3df-7a0b460f7443" rel="noopener noreferrer nofollow">https://www.wemix.com/communication/23edc3db-9494-4813-a3df-7a0b460f7443</a>WEMIX Community : ● WEMIX Official Webpage : <a href="https://www.wemix.com/communication" rel="noopener noreferrer nofollow">wemix.com</a> ● Medium : <a href="https://medium.com/wemix-communication" rel="noopener noreferrer nofollow">WEMIX Communication</a> | <a href="https://medium.com/wemix-play" rel="noopener noreferrer nofollow">WEMIX PLAY</a> | <a href="https://medium.com/nile-official" rel="noopener noreferrer nofollow">NILE</a> ● WEMIX Channels : <a href="https://twitter.com/WemixNetwork" rel="noopener noreferrer nofollow">Twitter</a> | <a href="https://www.facebook.com/WEMIXBlockchain" rel="noopener noreferrer nofollow">Facebook(WEMIX Platform)</a> | <a href="https://www.facebook.com/WEMIXGames" rel="noopener noreferrer nofollow">Facebook(WEMIX Games)</a> | <a href="https://t.me/WEMIX_ANNouncement" rel="noopener noreferrer nofollow">Telegram</a> | <a href="https://www.reddit.com/user/WemixNetwork" rel="noopener noreferrer nofollow">Reddit</a>

REFLECT launches in WEMIX3.0 mainnet

WEMIX

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