What is WEMIX (WEMIX)?

What is WEMIX?

(Source: WemixNetwork)

WEMIX3.0 is a decentralized public chain based on the Ethereum Virtual Machine (EVM), using the Stake-based Proof of Authority (SPoA) consensus mechanism, and is jointly operated by 40 verified node operators (Node Council Partners, referred to as WONDERS). This architecture provides:

• Extremely high performance: capable of handling up to 4,000 TPS of on-chain transaction volume.
• High Security: Consensus layer composed of multiple trusted nodes.
• EVM Compatibility: Developers can directly use Solidity and Ethereum tools.

At the same time, using the WEMIX$ stablecoin (backed by USDC) as a medium of value effectively mitigates the impact of native token volatility on applications, providing dApps with a stable pricing and trading environment.

The three pillars of the WEMIX ecosystem

• WEMIX PLAY: One of the largest blockchain game platforms in the world, focusing on on-chain MMORPG and Play-to-Earn models.
• NILE (NFT Is Life Evolution): Combining the DAO infrastructure of the Neith protocol to promote NFT art, community governance, and asset standardization.
• DeFi ecosystem and WEMIX$: combining stablecoins with liquidity mechanisms to support services such as exchanges, lending, and staking.

Blockchain Consensus and Network Structure

WEMIX adopts a three-layer network architecture, namely:

• BPN (Block Producer Network): Core consensus nodes maintained by 40 WONDERS validators, responsible for block generation and transaction ordering.
• BNN (Bridge Node Network): As a network firewall and relay bridge, it filters and transmits transaction data.
• ENN (End Node Network): The outermost layer that receives user services, anyone can set up a node to participate in ENN.

(Source: docs.wemix)

Its underlying architecture is forked from the Ethereum Go-Client and operates on a highly efficient consensus process based on the RAFT protocol. In the future, it also plans to transition from the SPoA model to a PoS architecture, achieving full openness for nodes.

Deflationary token model design

The WEMIX token introduces a new minting mechanism called Permanent Minting Reward (PMR) through the Brioche hard fork, permanently reducing and fixing the total supply cap to 590 million coins. The minting mechanism is as follows:

• The initial coin issuance rate is 1 WEMIX per block (approximately 86,400 coins per day).
• Using a "block halving" logic similar to Bitcoin, halving occurs automatically every 63,115,200 blocks.
• Currently, the annual minting volume has dropped to about 15 million coins and will continue to decrease, moving towards a deflationary model.

This mechanism not only helps maintain the stability of token value but also establishes a long-term incentive logic that is friendly to holders.

WEMIX's token economics

To ensure the sustainability of the overall economic system, the token allocation design of WEMIX focuses on the following two parts:

Allocation Overview

• WONDERS node and maintenance rewards: Up to 50% of PMR can be obtained.
• Community Staker (Grand Staking): Earn a 10% reward in the first phase (canceled in the second phase).
• Eco Fund: 25% of the PMR, used to support new projects, partners, and promotional activities.
• Operational costs: 25% of PMR, covering infrastructure and network expenses.

Core Purpose

• As the native token of the WEMIX3.0 main chain, it is used for paying fees and transactions.
• Pay for WEMIX PLAY and NILE platform services and content
• Transaction medium and staking assets in DeFi protocols
• Governance Participation and Node Staking Assets

WEMIX Roadmap

The governance of WEMIX was designed from the very beginning to be gradually open and decentralized:

1. Fixed Node and Staking Threshold

• 40 WONDERS nodes appointed by WEMADE require a stake of 1.5 million WEMIX.
• Use fixed PMR ratio to allocate nodes, stakers, funds, and maintenance.

2. Delegated Staking Competition

• The fixed 1.5 million threshold has been removed, allowing the community to freely delegate staking.
• Node rewards fluctuate with the total staked amount, introducing a reward competition mechanism.
• Token holders can freely support the vision and best-performing nodes.

3. Fully Open Governance and PoS Model

• Node qualifications are completely decentralized, anyone can participate.
• Select the top 40 nodes with the highest staking amount every week to become validators.
• Introduce slashing mechanism to prevent the abuse of malicious or lazy nodes.

This governance transformation plan will ultimately evolve into WEMIX 4.0, a high-performance main chain with complete community autonomy.

Start trading WEMIX spot immediately:https://www.gate.com/trade/WEMIX_USDT

Summary

WEMIX is not just a blockchain game, nor is it just a public chain; it is a truly scalable, secure, and economically complete Web3 multifunctional infrastructure. Whether you are a GameFi developer looking to create the next popular blockchain game; an investor seeking assets with deflationary models and application scenarios; a DAO organization looking for governance infrastructure; or a player, user, or simply someone wanting to participate in Web3, WEMIX provides an open economic network that leads to the future.