WEMIX Foundation stops the WEMIX token destruction plan and uses at least 4-5% of WEMIX Pay revenue for repurchase

According to TechFlow, the WEMIX Foundation announced the suspension of the WEMIX token destruction plan and shifted resources to ecosystem expansion. The WEMIX team said that the decision to stop the destruction plan is aimed at balancing supply, circulation and sustainable growth of the ecosystem. At the same time, the team will continue to promote the deflationary token economy through the WEMIX Pay repurchase plan, promising to use at least 4-5% of WEMIX Pay revenue for repurchase.

Previously, the Foundation implemented token destruction in various ways, including six large-scale destructions, batch destruction, and automatic destruction. In the Brioche hard fork on July 1 this year, the Foundation destroyed 435 million WEMIX (accounting for 40% of the total issuance) and implemented a block casting halving mechanism.