WEMIX

## **What Is WEMIX3.0 (Mainnet)?**

WEMIX3.0 [mainnet](https://coinmarketcap.com/alexandria/glossary/mainnet) is an “experience-based, platform-driven & service-oriented decentralized blockchain protocol” which powers a “mega-ecosystem” of [web 3.0](https://coinmarketcap.com/alexandria/glossary/web-3-0) platforms. The mainnet is a high-performance [Ethereum Virtual Machine](https://coinmarketcap.com/alexandria/glossary/ethereum-virtual-machine-evm) (EVM) compatible [open-source](https://coinmarketcap.com/alexandria/glossary/open-source) protocol powered by the SPoA (Stake-based [Proof of Authority](https://coinmarketcap.com/alexandria/glossary/proof-of-authority-poa)) [consensus mechanism](https://coinmarketcap.com/alexandria/glossary/consensus-mechanism). The mainnet claims to offer the highest security possible, based on [decentralized](https://coinmarketcap.com/alexandria/glossary/decentralized) [on-chain](https://coinmarketcap.com/alexandria/glossary/on-chain) [governance](https://coinmarketcap.com/alexandria/glossary/governance) via 40 Node Council Partners(NCP), also known as 40 WONDERS, while still ensuring high [transaction per second](https://coinmarketcap.com/alexandria/glossary/transactions-per-second) (TPS). Consensus will evolve towards complete decentralization through a multi-phase democratized governance.


## **What Is WEMIX?**

WEMIX, the native coin of the WEMIX mega-ecosystem, serves as the primary medium of exchange and payment method for [gas fees](https://coinmarketcap.com/alexandria/glossary/gas). With the introduction of the 'Brioche' hard fork, WEMIX tokenomics have undergone significant transformations, creating a sustainable and value-driven ecosystem. The hard fork permanently reduced and capped the total supply at 590 million WEMIX to preserve the token’s value and stability.
The 'block minting halving' mechanism, introduced by the Brioche hard fork, is designed to gradually reduce the minting rate of WEMIX per block called 'Permanent Minting Reward (PMR)’ over time. Initially, WEMIX was [minted](https://coinmarketcap.com/alexandria/glossary/minting) at a rate of 1 WEMIX per [block](https://coinmarketcap.com/alexandria/glossary/block), amounting to 86,400 WEMIX per day or 31,536,000 WEMIX per year. The first halving reduced the annual minting amount to about 15 million WEMIX. This systematic reduction continues in 2-year cycles, progressively decreasing the number of tokens minted and fostering a more stable and advanced tokenomic structure.



## **Who Are the Founders of WEMIX?**

WEMIX was founded in 2018 by WEMADE TREE(now Wemix PTE. LTD.), a subsidiary company of WEMADE, and began the journey with a solid vision to create a blockchain gaming platform servicing various games, connecting the in-game and the real world economy via tokenomics.

In August of 2021, WEMADE launched the flagship title, MIR4, on the WEMIX platform, triggering an unprecedented paradigm shift in the gaming industry. MIR4 has achieved unequaled success only four months into launch with more than 1.4M concurrent users and 20M cumulative registered users from more than 170 countries worldwide.

WEMIX has spearheaded the P2E market ever since. On October 20th 2022, WEMADE released WEMIX3.0, its own independent blockchain network, to further enhance the mega-ecosystem and establish WEMIX Coin as a key currency in the blockchain industry.


## **What Makes WEMIX Unique?**

WEMIX and the mega-ecosystem contains individually functional and collectively aligned key platforms and components that directly contribute to its growth and expansion.

The ecosystem contains:

WEMIX Play: Claimed to be world's largest and fastest play-and-earn (P&E) gaming platform home to numerous multi-genre games from all over the world that implements the "pay" segment into the experience cycle of global gamers.

NILE: The next-generation DAO-powered community platform built for the creation, facilitation, and management of projects through the Neith Protocol (programmable [smart contract](https://coinmarketcap.com/alexandria/glossary/smart-contract) mechanism), innovating opportunities realized through collective potential.

WEMIX.Fi: The official [DeFi](https://coinmarketcap.com/alexandria/glossary/defi) platform that provides secure and transparent services for users such as [swap](https://coinmarketcap.com/alexandria/glossary/token-swap), [staking](https://coinmarketcap.com/alexandria/glossary/staking), [pool](https://coinmarketcap.com/alexandria/glossary/liquidity-pool), borrow, [bridge](https://coinmarketcap.com/alexandria/glossary/bridges) and more. With high TPS and low gas fees, WEMIX.Fi claims to ensure the best experience with reliable financial services.

WEMIX$: The official [stablecoin](https://coinmarketcap.com/alexandria/glossary/stablecoin) protocol with 100% collateralization of on-chain and off-chain secure assets such as USDC and Fiat currencies, adhering to the philosophy that quantitative growth of WEMIX$ leads to the qualitative growth of WEMIX.

WEMIX Wallet: The decentralized native [wallet](https://coinmarketcap.com/alexandria/glossary/hot-wallet) of WEMIX that provides experience-centric services in managing funds and crypto-assets without the need of custody over them; the wallet is a non-custodial crypto wallet designed to provide users sole control over their [private keys](https://coinmarketcap.com/alexandria/glossary/private-key-secret-key).

WEMIX Explorer: There are two components to the WEMIX Explorer, the Macroscope and the Microscope. The Macroscope of WEMIX is the collection of data that directly influences the growth of the ecosystem as a whole, whereas the Microscope analyzes activities including detailed transactions and block validations within the WEMIX blockchain network — known as a [blockchain explorer](https://coinmarketcap.com/alexandria/glossary/blockchain-explorer).

Papyrus: Papyrus is a seamless token-based communication tool that connects people with common interests based on the tokens and NFTs the users hold.

40 WONDERS: Also known as Node Council Partners(NCP), 40 WONDERS is constituted by technology sponsors and ecosystem sponsors that represent the interests of the WEMIX community as a whole, and secure WEMIX network via governance.


### Related Pages

Check out [Gala Games](https://coinmarketcap.com/currencies/gala/) (GALA) — a blockchain gaming platform aiming to make “blockchain games you’ll actually want to play.”

Check out [Illuvium](https://coinmarketcap.com/currencies/illuvium/) (ILV) — an AAA-rated open-world fantasy battle game built on the Ethereum blockchain.

Find out more about [Axie Infinity](https://coinmarketcap.com/currencies/axie-infinity/) (AXS) — the blockchain-based trading and battling game that kicked off the play-to-earn trend.

Learn more about [The Sandbox](https://coinmarketcap.com/currencies/the-sandbox/) (SAND) and [Decentraland](https://coinmarketcap.com/currencies/decentraland/) (MANA) — two popular metaverse-focused gaming platforms.

Keep up with the latest crypto news, project deep dives and more on [CoinMarketCap Alexandria](https://coinmarketcap.com/alexandria).


## **How Is the WEMIX Network Secured?**

WEMIX is a high-performance EVM-compatible open-source protocol powered by the SPoA (Stake-based Proof of Authority) consensus algorithm, which is secured by 40 decentralized authority nodes (40 WONDERS), operated by highly-qualified global partners. 

WEMIX also applies the variable total gas fee formula which is part of [EIP-1559](https://coinmarketcap.com/alexandria/article/technical-walkthrough-of-eip-1559), an implementation of the transaction pricing mechanism dynamically expanding and contracting gas prices intended to deal with momentary transaction spikes in the network. The mechanism simply makes it so that continuous attempts at malicious network spams inevitably become too expensive and therefore impractical for attackers, functioning as a reinforced security layer within the ecosystem.


## Where Can You Buy WEMIX?

At the time of writing, WEMIX can be bought and traded on popular exchanges such as [KuCoin](https://coinmarketcap.com/exchanges/kucoin/), [Gate.io](https://coinmarketcap.com/exchanges/gate-io/), [Huobi](https://coinmarketcap.com/exchanges/huobi/), [Bybit](https://coinmarketcap.com/exchanges/bybit/), [Bitget](https://coinmarketcap.com/exchanges/bitget/), [Crypto.com](https://coinmarketcap.com/exchanges/crypto-com-exchange/), [MEXC](https://coinmarketcap.com/exchanges/mxc/) and more. Check out the full list of exchanges where you can buy and sell WEMIX [here](https://coinmarketcap.com/currencies/wemix/markets/).

WEMIX3.0 is an experienced-based, platform-driven & service oriented decentralized blockchain protocol built as the foundation of a borderless mega ecosystem.

Wemix

Developed by leading Korean IT company Kakao, Klaytn is a global Layer 1 public blockchain designed to power tomorrow’s on-chain world. With the lowest transaction latency amongst leading blockchains, enterprise-grade reliability, and a developer-friendly environment, Klaytn provides a seamless experience for users and developers that is second to none. Since its launch in June 2019, Klaytn has been accelerating blockchain mass adoption through a broad array of use cases from DeFi to real-world assets, entertainment and gaming, and even the Bank of Korea’s CBDC pilot project. Today, it is one of the only globally competitive Web 3.0 ecosystems developed in South Korea, generating more than 1 billion transactions from over 300 decentralized applications.

Klaytn

Bora is a decentralized ecosystem for games and entertainment. Bora aims to attract games and applications from the GameFi sector to its Bora Chain to avoid building on blockchains like Ethereum that have high gas fees. For that reason, Bora follows a two-tiered blockchain system: the BORA token is traded on the Klaytn blockchain, a public blockchain that is focused on metaverse and gaming use cases. The Bora chain is a modular blockchain that can be used as an execution layer by decentralized applications.

The Bora team provides development toolkits that support developers with creating decentralized applications for its ecosystem. It also utilizes Bora Points, a currency within the ecosystem as a resource for development and to incentivize contribution to Bora. Bora Points can subsequently be converted to the BORA token.

BORA

Gnosis (GNO) builds decentralized infrastructure on Ethereum. Its mission has always been centered on experimentation and building decentralized infrastructure for the Ethereum ecosystem. When Gnosis was founded in 2015, it focused on building prediction markets to enable worldwide access to accurate information. While creating the prediction market platform, it became clear that Gnosis needed to build the infrastructure required to support it. Gnosis Safe, for example, was born of necessity.

Gnosis operates as a decentralized autonomous organization (DAO) which provides infrastructure for various types of decentralized applications (dApps), and builds products to transparently guide decisions on the development, support and governance of its ecosystem.

In November 2021, both the xDAI and GnosisDAO community voted to combine their vibrant ecosystems to create the Gnosis Chain: An Ethereum forerunner-companion that addresses scaling issues through solid engineering.

Gnosis

We would like to describe MARBLEX in the perspective of technology applied to the MBX token. The MBX token is a Klaytn Compatible Token (“KCT”) based on Klaytn blockchain. The Klaytn technology is designed to provide high performance extensively and thus features high transaction processing. At the same time, KCT is based on the Istanbul BFT consensus algorithm and is a mainnet that assures reliability and transparency. Based on the strength of KCT, MBX can also process the high transaction of game content quickly and provide reliability to users under transparent operation/management.

On the other hand, in terms of usage, the MBX token is used within the MARBLEX ecosystem where users encounter key ecosystem creators mostly around game tokens and MBX tokens. Key parties are publishers, game developers, and service providers. With the introduction of the MARBLEx token system, to the existing gaming business ecosystem, the role of a service provider was added. Within the game token structure enabled by the service provider, users can experience not only quality content provided by publishers and developers but the token economy based thereon. While playing games, users will have opportunities for profit-generating activities.

For more information, you can find as follows:

Netmarble, mother company of MARBLEx, has been leading the global game market with innovative attempts since its establishment in 2000. It is a global game publisher that has produced a number of box office hits such as “Cross Worlds,” “Seven Knights,” “The Seven Deadly Sins,” etc. At the 5th Netmarble Together with Press (NTP) held on January 27, they raised expectations by unveiling new business strategies under the theme of blockchain and metabus, including a total of 20 major lineups. As a game publisher of MBX, Netmarble continues to provide high-quality game content to the MBX ecosystem, aiming for an ecosystem where users can experience the original fun of the game and expect reasonable rewards. MBX is the key currency of the Netmarble blockchain ecosystem and is based on the Klaytn mainnet. In the MBX ecosystem where all games are connected, free token exchange and swap are possible, and it will be linked with various games to create a new blockchain game ecosystem through MBX Wallet.

In addition, the MBX ecosystem plans to connect with games of various genres and expand to NFT and metaverse in the future. In Netmarble’s own MBX-based blockchain ecosystem, MBX will play a key role in focusing on “fun,” the essence of the game, and providing user participation and rational rewards.

MARBLEX

Conflux (CFX) is a public layer-1 blockchain that was made to power decentralized applications (dApps), e-commerce, and Web 3.0 infrastructure by being more scalable, decentralized, and secure than existing protocols.

Conflux makes it easier to transfer valuable assets by making the process quick, effective, free of network congestion, and with low transaction costs. The platform is based on the Tree-Graph consensus mechanism, and it combines Proof-of-Work (PoW) and Proof-of-Stake (PoS) algorithms to achieve consensus. The protocol uses Turing-complete smart contracts written in Solidity, just like those on  Ethereum, and is compatible with the EVM (Ethereum Virtual Machine).

Conflux's growth is fueled by CFX, the platform's native token, which gives users financial incentives to participate and engage more. The token is used to pay transaction fees, govern the network, and is given as compensation to miners who help secure the network via staking.

Conflux

Rocket Pool is a decentralized Ethereum staking pool offering up to 4.33% APR for ETH2 staking. Users can join the Rocket Pool with its decentralized node operator network or run their own nodes with only 16 ETH. In the latter case, they can earn a commission from staking ETH and earn additional RPL rewards from providing RPL collateral, amounting to up to 6.36% APR for ETH and the additional RPL rewards.

Rocket Pool provides liquid staking, meaning users benefit from an increasing exchange rate instead of adding on to their initial staked collateral, which would be a taxable event. Furthermore, Rocket Pool offers smart nodes: a custom node software allowing anyone to run a node on its network. With losses from bad nodes distributed across the network, individual users minimize their risk of facing penalties. This is supported by the pool’s open-source and audited smart contracts, which guarantee fully non-custodial staking and a maximum degree of decentralization.

Rocket Pool

aelf

WAX (WAXP) is a purpose-built blockchain, released in 2017, that is designed to make e-commerce transactions faster, simpler and safer for every party involved. The WAX blockchain uses delegated proof-of-stake (DPoS) as its consensus mechanism. It is fully compatible with EOS.

The custom features and the incentive mechanisms developed by WAX are intended to optimize the blockchain’s utility specifically for use in e-commerce, with the goal of encouraging voting on proposals.

To make this possible, WAX created a suite of blockchain-based tools which decentralized application (DApp) marketplaces and non-fungible tokens can be built upon.

Services such as WAX Cloud Wallet, SSO and OAUTH support e-commerce operations, the latter being a native RNG service and a developer portal. WAX’s blockchain architecture supports 500-millisecond block time and zero-fee transactions for customers. It also makes use of voting rewards to incentivize participation in the selection of block producers and improvement proposals.

Yield Guild Games (YGG) is the world’s first and biggest web3 gaming guild where players can find their community, discover games and level up together. Its mission is to become the leading community-based user acquisition platform in web3 gaming.

As a network of gaming guilds focused on web3 games, YGG is committed to providing opportunities for its members to achieve success in web3 gaming through questing initiatives such as Superquests and the Guild Advancement Program (GAP). These enable members to build their on-chain identity through its achievement-based reputation system.

From its roots in the Philippines to its global network of regional guilds and partnerships with over 80 blockchain games and infrastructure projects, YGG caters to an ever-expanding community of gamers and blockchain enthusiasts.

Yield Guild Games

PlayDapp has developed a comprehensive ecosystem tailored for Web3 users, leveraging the PlayDapp Mainnet as the foundational infrastructure.
Our ecosystem seamlessly integrates various components, including Mobile Web3 Games, NFT Marketplace & Aggregator, NFT Collections, a DAO Game, EZ Play (Revamped Tournaments) and strategic partnerships with notable enterprises. The PDA token enables seamless interoperability, allowing users within our ecosystem to interact effortlessly with each of our products.

PlayDapp

Ronin is an EVM blockchain specifically forged for gaming. Launched by Sky Mavis, the creator of Web3’s breakout title Axie Infinity which has generated over $1.3B in revenue, Ronin is the only blockchain proven to scale a single game to accommodate millions of daily active users and has processed over $4B in NFT volumes. Ronin optimizes for near-instant transactions and negligible fees that enable millions of in-game transactions to occur seamlessly, making it the leading choice for Web3 games.

In its first nine months, Ronin has racked up 250,000 unique daily active addresses, $5 billion in TVL, over 2 million wallet downloads, and 15% of all NFT transactions on the market. Its DEX Katana is the second-most popular decentralized exchange by weekly active users and allows users to swap tokens within the Axie Infinity ecosystem.

Ronin

Illuvium is an open-world fantasy battle game built on the Ethereum blockchain. Often touted as the first AAA game on Ethereum, Illuvium looks to provide a source of entertainment to both casual gamers and hardcore DeFi fans through a range of collecting and trading features.

To learn more about this project, check out our deep dive of Illuvium.

The world of Illuvium is inhabited by creatures known as Illuvials, who can be captured by players that best them in battle and nurse them back to health. From then on, they become a loyal part of the player’s collection and can be used when battling other adventurers as part of Illuvium’s auto battler gameplay.

The game is a fusion between an open-world exploration game and a PVP battle game. Players can spend their time exploring the expanses of the game world or building up their team of powerful beasts.

Illuvium has been in development since 2020, and is being built by a worldwide team of more than 40 individuals, including the co-founders; serial entrepreneur and early cryptocurrency adopter Kieran Warwick, and experienced game designer Aaron Warwick, who are brothers. (And who are coincidentally also the brothers of Kain Warwick, the co-founder of DeFi platform Synthetix).

The ILV token has a number of uses within the Illuvium ecosystem. It’s the main token used to reward players for their in-game achievements, entitles players to their share of the Illuvium Vault and is used for participating in the governance of the game via the Illuvium decentralized autonomous organization (DAO).

Illuvium

Mask Network is a protocol that allows its users to send encrypted messages over Twitter and Facebook. It essentially acts as a bridge between the internet and a decentralized network running on top.

Mask Network was initially launched in July 2019, with its first use case of allowing Facebook and Twitter users to encrypt posts on the social media platforms. It then raised $2 million in a funding round in November 2020, co-led by HashKey and Hash Global, and a further $3 million funding round in February 2021 with participation from Digital Currency Group and Fundamental Labs.

Now, Mask Network offers the ability to fund Gitcoin grant campaigns directly from Twitter, as well as plans to offer peer-to-peer payments and decentralized storage functionality. It is a decentralized portal that also allows users to use DApps like crypto payments, decentralized finance, decentralized storage, e-commerce (digital goods/NFTs) and decentralized organizations (DAO) over the top of existing social networks without migrating, creating what is referred to as a decentralized Applet (DApplet) ecosystem.

Mask Network

Flow

GateChain is a public blockchain which facilitates digital asset transfers, and claims to be “dedicated to asset safety.”

The network’s native token is GateToken (GT). It’s mainly used to pay transaction fees, but users can also stake it to validate transactions and secure the network in exchange for rewards.

GateChain offers an on-chain wallet for users to manage their digital assets directly on the network itself, thereby eliminating the need for a third-party wallet. It’s also fully integrated with the Ethereum Virtual Machine (EVM), making it easy to deploy Ethereum-based smart contracts on the platform.

GateToken

Axie Infinity is a blockchain-based trading and battling game that is partially owned and operated by its players.

To learn more about this project, check out our deep dive of Axie Infinity.

Inspired by popular games like Pokémon and Tamagotchi, Axie Infinity allows players to collect, breed, raise, battle and trade token-based creatures known as Axies.

These Axies can take various forms, and there are more than 500 different body parts available, including aquatic, beast, bird, bug, plant and reptile parts. Parts from each type class come in four different rarity scales: common, rare, ultra rare and legendary — and Axies can have any combination of body parts, making them highly variable and often rare and unique.

Each Axie is a non-fungible token (NFT) with different attributes and strengths and can be entered into 3v3 battles, with the winning team earning more experience (exp) points that are used to level up an Axie's stats or evolve their body parts. These Axies can be bred together to produce new and unique offspring, which can be used or sold on the Axie marketplace.

The Axie Infinity ecosystem also has its own unique governance token, known as Axie Infinity Shards (AXS). These are used to participate in key governance votes and will give holders a say in how funds in the Axie Community Treasury are spent.

Axie Infinity

Aragon

UNUS SED LEO

Kava is a Layer-1 blockchain that combines the speed and interoperability of Cosmos with the developer power of Ethereum.

Kava was built from the ground up to optimize its resources for protocol growth, strengthened by its Cosmos EVM technology that enables maximum scalability, speed, security, and developer support.

Builders on Kava earn a share of Kava Rise's $750M developer incentive fund via the program's blockchain-based distribution method, designed to reward the top protocols every month based on usage.

Kava

The Frax Protocol is the first fractional-algorithmic stablecoin system. Frax is open-source, permissionless, and entirely on-chain – currently implemented on Ethereum (with possible cross chain implementations in the future). The end goal of the Frax protocol is to provide a highly scalable, decentralized, algorithmic money in place of fixed-supply digital assets like BTC. The protocol incorporates the following concepts:

Fractional-Algorithmic – Frax is a unique stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic. The ratio of collateralized and algorithmic depends on the market's pricing of the FRAX stablecoin. If FRAX is trading at above $1, the protocol decreases the collateral ratio. If FRAX is trading at under $1, the protocol increases the collateral ratio.

Decentralized & Governance-minimized – Community governed and emphasizing a highly autonomous, algorithmic approach with no active management.

Fully on-chain oracles – Frax v1 uses Uniswap (ETH, USDT, USDC time-weighted average prices) and Chainlink (USD price) oracles.

Two Tokens – FRAX is the stablecoin targeting a tight band around $1/coin. Frax Shares (FXS) is the governance token which accrues fees, seigniorage revenue, and excess collateral value.

Before Frax, stablecoins were divided into three different categories: fiat collateralized, overcollateralized with cryptocurrency, and algorithmic with no collateral. Frax is the first kind of decentralized stablecoin to classify itself as fractional-algorithmic ushering in the 4th and most unique category.

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