The WEMIX Foundation has announced the end of the WEMIX token destruction program, redirecting resources to ecosystem expansion. The WEMIX team said the decision to stop the destruction program is designed to balance supply, circulation, and sustainable growth of the ecosystem. At the same time, the team will continue to advance the deflationary token economy through the WEMIX Pay buyback program, committing to spend at least 4-5% of WEMIX Pay's revenue on buybacks.
Previously, the Foundation implemented token destruction in a variety of ways, including six mass destruction, batch destruction, and automatic destruction. In the Brioche hard fork on July 1 this year, the Foundation destroyed 435 million WEMIX (40% of the total issuance) and implemented a block minting halving mechanism.
WEMIX Foundation Halts WEMIX Token Destruction Program
2024-08-02 07:58:24
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