• WEMIX has launched the "Brioche" Hard Fork, introducing a new tokenomics strategy focused on sustainability and growth.

  • Key updates include a halving cycle to reduce token issuance and a significant burn of reserves to support community-driven initiatives.

  • The transition to a public mainnet in July 2024 has expanded WEMIX's ecosystem offerings, emphasizing its commitment to innovation and transparency in blockchain technology.

WEMIX proudly announces the successful implementation of the "Brioche” Hard Fork. This pivotal moment for WEMIX marks a significant evolution in our tokenomics strategy, introducing a comprehensive upgrade aimed at bolstering network sustainability and fostering long-term growth across the ecosystem.

Key Highlights of the Brioche Hard Fork:

1. Halving Cycle

  • The Brioche Hard Fork introduces a revised halving cycle aimed at gradually reducing the current WEMIX issuance rate of one per block. This strategic adjustment aims to fortify the tokenomics framework, enhancing the growth potential and value proposition of WEMIX through collaborative efforts with the community and investors.

  • The initial halving commenced at block 53,525,500 on July 1st, 2024, at 00:08:01 (GMT+9), marking the beginning of a scheduled cycle that will repeat every 63,115,200 blocks for a total of 16 cycles. 

  • According to this plan, subsequent halvings will occur biennially until December 31st, 2100, when the total WEMIX supply is projected to reach 590 million, concluding the block minting process.

  • 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 = 63,115,200). Should the block creation cycle change, the halving cycle will be adjusted accordingly.

  • The current block minting status, reflecting the applied halving cycle, can be verified on WEMIX SCAN, a block explorer for the WEMIX3.0 Mainnet and testnet.

2. Total Supply Adjustment
To achieve the target supply of 590,000,000 WEMIX tokens, issuance will continue until 2,467,714,000 blocks are produced. This milestone is projected to be reached by December 31st, 2100, assuming uninterrupted operation of WEMIX3.0.

3. Foundation Reserve Burn

At WEMIX, our core values emphasize community-driven growth. To uphold this principle, a significant portion of our reserves, excluding essential growth funds, has been burned. This initiative resulted in the burning of 434,093,952 WEMIX tokens, with a minimum of 163,859,469 WEMIX tokens allocated for future growth initiatives. Consequently, the non-circulating supply now stands at 119,593,824 WEMIX tokens, while the circulating supply totals 44,265,672 WEMIX tokens.

WEMIX's Commitment to Security, Innovation and Growth
This strategic initiative reaffirms WEMIX's unwavering dedication to innovation and continual advancement within the blockchain industry. As we embark on this new phase, we are excited to strengthen our ecosystem's resilience and broaden opportunities for our global community of users, developers, and stakeholders.

Since its inception in 2018, WEMIX has evolved from a private chain to a public mainnet, a transition that took effect in July 2024. This evolution has significantly enhanced our offerings, including WEMIX PLAY and Wepublic, underscoring our commitment to ongoing growth and ecosystem development. We remain steadfast in our efforts to advance our tokenomics to nurture a sustainable environment in close collaboration with our community. 

About WEMIX

WEMIX isn't just a blockchain network; it's a gateway to a richer gaming experience. This user-centric ecosystem empowers players and developers alike. Built on the custom-built, open-source WEMIX3.0 blockchain, it offers comprehensive solutions for tokenomics, NFTs, and community management – fostering a dynamic convergence of blockchain technology, games, and reality. WEMIX3.0 itself is optimized for dApps, GameFi, DAOs, DeFi, and NFTs, making it a powerful platform for innovative decentralized applications. www.wemix.com  

Additional Details:

  • Detailed information regarding this burn process will be included in our upcoming quarterly report. At WEMIX, we are dedicated to transparent disclosures and announcements built on trust. We maintain our commitment to managing transactions and tokenomics related to WEMIX with unwavering transparency, backed by strong community support.

  • For verification, the tokens were transferred to the 0x0000...dEaD address as part of the burn process. Further details on related transactions are available through the burn disclosure.

  • For a comprehensive breakdown of the Brioche Hard Fork, including the halving schedule, circulating supply calculations, and detailed tokenomics changes, please visit the WEMIX website.

Disclaimers:

  • Given that the halving schedule is determined by block height, actual implementation may deviate from the anticipated 2-year cycle and may not conclude by the year 2100 as initially projected. Variations in block creation intervals can influence the timing of the halving, allowing for adjustments in practice.

  • The contents of this post including details on the Brioche Hard Fork implementation, halving introduction, and foundation reserve burn, are subject to change without prior notice.

  • This post does not constitute an offer to buy or sell WEMIX tokens, nor does any part of its content serve as a bas

    is for investment decisions. All investments related to WEMIX or other assets should be made at the investor's own risk.

  • The WEMIX team assumes no responsibility for any losses or profits resulting from the use of this announcement.