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Detailed Explanation of WONDER Staking Structure. Official WEMIX site announcement:. Dear Community Members,.

WEMIX
WEMIX
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30 Jun 2023, 08:28
Detailed Explanation of WONDER Staking Structure Official WEMIX site announcement: Dear Community Members, We have received inquiries from the community regarding the structure of WONDER Staking, and we would like to provide a clear explanation to address these concerns. WONDER Staking is a unified staking method that combines NCP Staking and Grand Staking through the Applepie hard fork. • WEMIX3.0 implements the SPoA consensus mechanism to validate blocks, requiring a minimum stake of 1.5 million WEMIX on each of the 40 designated nodes for them to qualify as validators. • Through community-driven node staking, WEMIX tokens are delegated, and validators receive a 50% block validation reward (PMR) as a reward. To reiterate, WEMIX3.0 is required to have 40 fully functional nodes with a minimum of 1.5 million WEMIX staked per node. Currently, the WEMIX Foundation is operating 22 nodes that have not been allocated to NCPs. These nodes are currently operational and will be assigned to new WONDERS that onboard WEMIX3.0 as NCPs, thereby granting them participation access to the competitive staking through WONDER Staking. Regarding the circulating supply, we have previously communicated in detail regarding the conversion of 60 million WEMIX tokens, which corresponds to the circulating supply of the 40 nodes with a minimum stake of 1.5 million WEMIX each. You can find more information in the following link: Reference Link: We would like to emphasize that WEMIX3.0 operates transparently by managing only the nodes outlined in the whitepaper, excluding the 40 designated nodes. The 22 operational nodes managed by the foundation do not participate in competitive staking through WONDER Staking, as they do not compete with other WONDERs and the community. These nodes maintain the minimum stake of 1.5 million WEMIX solely for node validation purposes. The cumulative PMR rewards allocated to these nodes are being held as reserves for ecosystem restoration, burning, and other strategic purposes. There is no arbitrary disposal of these rewards. Moreover, it is important to clarify that the total staking amount of 33 million WEMIX for the 22 nodes that do not compete in WONDER Staking, is excluded from the Total Value Locked(TVL) displayed through WEMIX.Fi. This distinction is crucial to avoid any potential misunderstandings. We appreciate the community’s interest and support in WONDER Staking, and the WEMIX team is always committed to maintaining transparency and addressing any further inquiries you may have. Thank you, WEMIX Team.