WEMIX will apply a new token economy starting from July 1st

Golden Finance reported that the South Korean gaming public chain WEMIX Foundation announced the application of a new token economics starting from July 1st. The WEMIX Foundation will destroy approximately 400 million from the total reserve held by the foundation in one go. 40% of the Ecological Development Fund will be used for community promotion and marketing to promote the WEMIX ecosystem, while the remaining 60% will be used for investment and cooperation to develop the ecosystem. 35% of the income generated by the Ecological System Development Fund will be used to enhance the value of WEMIX through purchasing and destroying WEMIX. The principal will be returned to the ecological system fund for reinvestment. At the same time, halving will be introduced by changing block minting structure for WEMIX 3.0. Halving will occur every two years sixteen times, with block minting permanently suspended when total supply reaches 590 million. Therefore, maximum supply of WEMIX will decrease by 60% from its current level of 980 million.