Wemade Announces 'Wemix' Distribution Plan... "Aiming for Transparent Token Economy"

[Asia Economy Reporter Seungjin Lee] Wemade's cryptocurrency WEMIX disclosed its distribution plan on the 21st to secure trust in its growth potential.

WEMIX plans to calculate circulation volume based on global standards. The circulating supply of WEMIX coins is defined as the total issuance minus the non-circulating supply, and the total issuance is defined as the cumulative issuance minus the burned amount.

The non-circulating supply includes locked-up amounts and NCP (Node Council Partner) staking amounts. The locked-up amount is based on the total of the foundation's and non-foundation locked-up amounts, with the non-foundation locked-up amounts including those locked by Wemade and third parties. All holdings of the WEMIX Foundation will be re-locked, and additional circulation will be supplied linearly and evenly over five years starting from January 2023.

The team reward amounts granted to teams and talents contributing to the WEMIX project are scheduled to be unlocked in October 2023, but are designed to be paid after a certain period of continuous service from the grant date. The received WEMIX will be deposited in a smart contract and paid out monthly in fixed amounts over five years, with the distributed rewards converted into actually circulating quantities.

The WEMIX held by Wemade will not circulate due to a three-year lockup starting January 2023, and will be transferred to a separate circulation wallet at the end of the lockup period in January 2026.

WEMIX plans to enhance transparency by establishing a publicly disclosed monitoring system. Once the integration of the ongoing enterprise custody service is completed, all non-circulating WEMIX will be moved to custody wallets. Additionally, the total issuance and circulating supply of WEMIX can be checked in real time on CoinMarketCap and CoinGecko, and real-time information will also be available through Jangle’s new service ‘LiveWatch’ in the future.

‘LiveWatch’ is a real-time circulation information monitoring service for virtual assets newly launched on Jangle, the information platform of WEMIX 3.0’s NCP Crossangle. WEMIX was selected as the first project for this new service.