dailyhodl.com
A blockchain platform focused on gaming defied a sideways crypto market and rallied by 37% this week amid an upcoming hard fork and token burn.
$WEMIX is a crypto project that bills itself as an “experience-based, platform-driven, and service-oriented mega-ecosystem.”
More than 580,000 people use its blockchain game platform, $WEMIX Play.
The project’s native token is trading at $1.37 at time of writing, up from $1.01 seven days ago.
$WEMIX witnessed gains as users look forward to the “Brioche Hard Fork,” which will overhaul the project’s tokenomics. The hard fork is slated for July 1st.
Explains $WEMIX,
“This pivotal milestone will introduce a revised minting rule, reducing the issuance of $WEMIX per block through 16 updates. This change aims to enhance the value and growth of $WEMIX, marking the first step towards mutual growth with the community.
Secondly, $WEMIX will unveil an enhanced $WEMIX PLAY, where ecosystem performance directly impacts tokenomics. Notably, the objective is to ensure that the revenue growth driven by expanding games directly influences the $WEMIX ecosystem.”
The $WEMIX foundation also says it plans to burn approximately 435 million $WEMIX tokens held in reserve.
“The burning of the foundation reserves will decrease the available supply, transitioning $WEMIX from a foundation-driven ecosystem to a community-driven one. This shift fosters a community-friendly tokenomics model that promotes mutual growth.”
Despite the gains this week, $WEMIX still remains more than 94% down from its all-time high of $24.71, which it hit back in November 2021, according to CoinGecko.
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