[Important Notice] Change in Circulating Supply with the launch of WONDER Staking. WEMIX Medium :.
20 Jun 2023, 05:33
[Important Notice] Change in Circulating Supply with the launch of WONDER Staking
WEMIX Medium :
WEMIX implements and adheres to the highest global standard in compliance policies. As part of our commitment to transparency, we provide prior/post transfer disclosures of Foundation-owned WEMIX through Medium, and real-time circulating supply information on platforms such as Xangle Live Watch, CoinMarketCap and CoinGecko.
With the introduction of the ApplePie Hard Fork, a new token distribution policy will merge NCP Staking and Grand Staking into WONDER Staking from June 22nd, 2023. Under this policy, 50% of the PMR(Permanent Minting Rewards) from WEMIX3.0 will be allocated to WONDER Staking.
WONDER Staking will consist of the following components, all stored in a single contract:
1. Minimum staking of 1.5 million WEMIX for each existing NCP(totaling 60 million WEMIX);
2. Additional staking by NCPs; and
3. Community Staking.
Contract Address: 0xBEd789c6008F788a28fc222C83082D67033Daf7F
In order to ensure accurate real-time minting rewards, WONDER Staking has implemented a systematic approach utilizing a single wallet/contract. Consequently, the total volume of WEMIX staked through WONDER Staking will be considered as part of the circulating supply. This approach is in line with the Foundation’s prudent management policy for circulating supply, which aims to maintain the actual circulating volume at a minimum while actively evaluating its inclusion in the circulating supply calculation.
Therefore:
• It should be noted that the 60 million WEMIX staked by NCPs will not actually be circulated into the market under any circumstances. Instead, it is exclusively included in the calculation of the circulating supply, together with the volume from WONDER Staking.
• In the case of a replacement of nodes operated by the WEMIX Foundation due to the inclusion of a new WONDER, the Foundation’s WEMIX staked in the node will immediately be withdrawn and transferred to the Reserve wallet. As a result, the withdrawn volume will be converted back into non-circulating supply.
• Even with the inclusion of 60 million WEMIX staked by NCPs in the circulating supply, it will still remain in compliance with the Foundation’s projected WEMIX Vesting Plan and will be within the predetermined limits for the circulating supply as of June 2023.
We appreciate your support for the upcoming launch of WONDER Staking, scheduled to commence following the governance consensus of 40WONDERS on June 22nd, 2023. We also seek your understanding and clarity regarding the corresponding increase in the circulating supply resulting from the transition of 60 million WEMIX staked by NCPS from non-circulating to circulating supply.
Thank you.
Official WEMIX site announcement:
*You can check the original announcement at the official WEMIX site(wemix.com).