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.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Boeing (BA.US) Max 10 certification expected to be announced next week, adding new leverage for debt relief
The Boeing 737 Max 10 has completed key certification meetings and could be approved as early as next week. As Boeing's largest variant to rival Airbus, this model will help airlines replace aging 757s and is expected to become a cash cow for Boeing to reduce its debt.
Foreign holdings of US Treasuries rebounded in August, with UK holdings surpassing $1 trillion for the first time
In August, foreign holdings of U.S. Treasury bonds increased by over 83 billions USD, with Canada and Belgium leading the increase; meanwhile, holdings by Japan and China continued to decline to multi-year lows, and for the first time, the UK's holdings surpassed 1 trillion USD.
Strive's bitcoin holdings increased to 35,595, and TD Cowen raised its target price to $56.
New York Federal Reserve Survey: Service Sector Price Increases Hit Fastest Pace Since 2022, Business Activity Index Drops to Lowest Since March
A survey released by the New York Fed on Friday shows that in October, sales prices for service sector firms increased at the fastest pace since 2022, with input costs remaining robust and supply conditions continuing to deteriorate. Businesses’ pessimism about the commercial outlook has significantly intensified, with the overall business activity index falling by 12 points from the previous month to minus 20.7, marking the weakest reading since March.
Crypto prices
More
