TechFlow news: The South Korean gaming blockchain WEMIX Foundation has announced the implementation of a new tokenomics model starting July 1.
The WEMIX Foundation will conduct a one-time burn of approximately 400 million tokens from its total reserve holdings. Forty percent of the ecosystem development fund will be allocated to community outreach and marketing initiatives to promote the WEMIX ecosystem, while the remaining 60% will support investments and partnerships for ecosystem growth.
Thirty-five percent of the revenue generated by the Ecosystem Development Fund will be used to enhance WEMIX value through WEMIX buybacks and burns. Principal returns will be directed back into the ecosystem fund for reinvestment.
Additionally, the Foundation will introduce a halving mechanism to modify the block minting structure of WEMIX 3.0. Halving will occur 16 times every two years, and block minting will permanently halt once the total supply reaches 590 million. As a result, WEMIX’s maximum supply will be reduced by 60% from the current 980 million.
Furthermore, during the halving period, network fees within the WEMIX ecosystem will be converted into block minting rewards (PMR). Team allocations will now be consolidated under Wemade's Development Cost Program, with the total size reduced from 90 million to 50 million tokens—40 million of which will be immediately burned. Development costs will be utilized over a five-year period.
