The gaming-focused blockchain platform has bucked a sideways cryptocurrency market and is up 37% this week ahead of an upcoming hard fork and token burn.
WEMIX is a cryptocurrency project that promotes an “experience-based, platform-centric, and service-centric mega ecosystem.”
More than 580,000 people are using the blockchain gaming platform WEMIX Play.
The project’s native token is trading at $1.37 as of this writing, up from $1.01 seven days ago.
WEMIX showed an upward trend as users’ expectations grew for the ‘Brioche hard fork’, which will reorganize the project’s token economics. The hard fork is scheduled for July 1st.
Describes WEMIX.
“This important milestone introduces revised minting rules, reducing the issuance of WEMIX per block over 16 updates. This change aims to enhance the value and growth of WEMIX and take the first step towards mutual growth with the community. do.
Second, WEMIX will introduce an enhanced WEMIX PLAY where ecosystem performance directly affects tokenomics. In particular, our goal is to ensure that sales growth resulting from game expansion has a direct impact on the Wemix ecosystem.”
The WEMIX Foundation also stated that it plans to burn approximately 435 million WEMIX tokens in its reserve.
“As foundation reserves are burned, available supply will decrease, transforming WEMIX from a foundation-centric ecosystem to a community-centric ecosystem. “This change fosters a community-friendly token economics model that fosters mutual growth.”
According to CoinGecko, despite the gains this week, WEMIX is still down more than 94% from its all-time high of $24.71 recorded in November 2021.
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