WEMIX

As <a href="https://www.wemix.com/communication/era-of-change-the-dawn-of-new-tokenomics-with-brioche-hard-fork-759a064f2a1d" rel="noopener noreferrer nofollow">previously announced</a>, the Brioche Hard Fork has been successfully executed, marking a pivotal transformation in WEMIX tokenomics and introducing a new halving cycle for WEMIX.Since its inception in 2018, WEMIX has evolved from a private chain to a public mainnet as of July 2024. WEMIX now offers a variety of services, including WEMIX PLAY and Wepublic, showcasing its continuous evolution and expansion. WEMIX is committed to advancing its tokenomics to create a sustainable ecosystem in collaboration with its community.The halving cycle update will gradually reduce the current WEMIX issuance rate of one per block. This change aims to create a more robust tokenomics framework, marking a significant step towards enhancing the growth and value of WEMIX through collaboration with the community and investors.1. Halving Cycle The block minting reward on the WEMIX3.0 mainnet was halved starting at <a href="https://wemixscan.com/block/53525500" rel="noopener noreferrer nofollow">block 53,525,500</a>, which occurred on July 1st, 2024, at 00:08:01 (GMT&#43;9). This halving will continue to take place every 63,115,200 blocks for a total of 16 cycles. According to this schedule, halving will occur every two years until December 31st, 2100. At that point, the total supply will reach 590 million WEMIX, and block minting will cease. The block cycle is based on 730.5 days (including leap years), with a fixed creation of 86,400 blocks per day (730.5 * 86,400 &#61; 63,115,200). Should the block creation cycle change, the halving cycle will be adjusted accordingly.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/6f884ac82417460fb49b64aca5507313.png" />The current block minting status, reflecting the applied halving cycle, can be verified on <a href="https://wemixscan.com/blocks" rel="noopener noreferrer nofollow">WEMIX SCAN</a>.2. Total Supply Adjustment To establish the total supply at 590,000,000 WEMIX, issuance will continue until 2,467,714,000 blocks, after which no new WEMIX will be minted. Assuming uninterrupted operation of WEMIX3.0, this milestone will be reached on December 31st, 2100.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/793c6abc66fc42f2b406dd47e47576be.png" />3. Foundation Reserve Burn The core value of WEMIX lies in fostering collective growth within its community. To uphold this principle, a significant portion of the reserve, aside from essential growth funds, has been burned.The burned amounts to 434,093,952 WEMIX, and the minimum growth funds are 163,859,469 WEMIX. Among these, the non-circulating supply is 119,593,824 WEMIX, and the circulating supply is 44,265,672 WEMIX.Detailed information will be provided in the forthcoming quarterly report. The WEMIX team is committed to transparent disclosures and announcements founded on trust, continuing to manage transactions and tokenomics related to WEMIX with unwavering transparency, fully supported by the community.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/2e3fb6ae8eb64ae085bafe7c183d75c9.png" />The actual burn process was carried out by transferring the tokens to the 0x0000...dEaD address. Related transactions can be verified through <a href="https://www.wemix.com/communication/wemix-burn-43409395216-wemix-coin-1-july-2024-745876ab63d4" rel="noopener noreferrer nofollow">the burn disclosure</a>.4. Note This announcement provides information on the Brioche Hard Fork implementation, the introduction of halving, and the foundation&#39;s reserve burn. Please note that the contents of this announcement are subject to change without prior notice. Since the halving is predicted based on block height, actual implementation may not strictly adhere to a 2-year cycle or conclude in the year 2100 as initially anticipated. The timing of its application may vary due to fluctuations in block creation intervals. The WEMIX team assumes no responsibility for any losses or profits resulting from the use of this announcement.This announcement does not constitute an offer to buy or sell WEMIX, nor does any part of its content serve as a basis or foundation for investment decisions. All decisions to purchase WEMIX or make any other investments must be made at the investor&#39;s own risk, with the investor solely responsible for any resulting outcomes.Official WEMIX site announcement : <a href="https://www.wemix.com/communication/wemix-mass-burn-and-halving-brioche-hard-fork-3597a803a07b" rel="noopener noreferrer nofollow">https://www.wemix.com/communication/wemix-mass-burn-and-halving-brioche-hard-fork-3597a803a07b</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">X (formerly 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>

WEMIX Mass Burn and Halving : Brioche Hard Fork

WEMIX

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