WEMIX

MYRTLE, the Fan Token of Myrtle Sarrosa launched on January 27th, has experienced a dramatic increase in price and a surge of additional tokens minted due to a high level of interest from global fans. While the increase in token price is something to be celebrated as a sign of community growth, it is also true that concerns have been raised about inflation resulting from the speed of the token&#39;s price increase exceeding the growth of the community.To address this, Myrtle Sarrosa and the WEMIX team have decided to proceed with the following updates of MYRTLE tokenomics to support the healthy improvement of community and for active transactions of Fan Token.1. Resetting the high-water mark ● The Time-Weighted Average Price (TWAP) history, a standard for MYRTLE&#39;s additional minting, will be reset. ● Consequently, all the additional MYRTLE tokens that have been minted in the Vault will be retrieved and burned. &gt; There are a total of 8,024,580.6933 tokens in the Vault. &gt; Some portions will be used for Myrtle Sarrosa and the community. &gt; The TWAP reset and burn date is March 13th, 2023. 2. Providing additional liquidity ● To facilitate transactions and minimize price volatility, additional liquidity will be provided to the MYRTLE liquidity pool. ● To do this, WEMIX will purchase 10,000 MYRTLE from Myrtle Sarrosa among the retrieved tokens from the Vault. &gt; The purchase amount in WEMIX$ will be sent to Myrtle Sarrosa&#39;s wallet. ● The purchase amount and the size of the additional liquidity will be announced later. 3. Community Event ● Myrtle Sarrosa has plans for community events, such as an airdrop in the near future. ● To do this, 5,000 MYRTLE from the Vault will be transferred to her wallet. &gt; The transfer date is March 13th, 2023.WEMIX team would like to sincerely thank Myrtle Sarrosa for her unconditional agreement to the burning decision of MYRTLE for the improvement of the token and the community. We look forward to your continued support as we are planning to launch more Fan Tokens from various creators.Thank you.WEMIX PLAY Medium Announcement: <a href="https://medium.com/wemix-play/updates-on-myrtle-tokenomics-6731180db08f" rel="noopener noreferrer nofollow">https://medium.com/wemix-play/updates-on-myrtle-tokenomics-6731180db08f</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>

Updates on MYRTLE Tokenomics

WEMIX

Alte articole publicate pe 13 mar. 2023

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