WEMIX3. 0 Phase2 Update & WONDER Staking. WEMIX Medium :. WEMIX Team has previously announced the WEMIX3.

06 Jun 2023, 03:59

WEMIX3.0 Phase2 Update & WONDER Staking WEMIX Medium : WEMIX Team has previously announced the WEMIX3.0 ApplePie(Mainnet Phase2) update, which will gradually introduce democratic governance starting with a structure of 40 verified node governance. As part of the WEMIX3.0 Phase2 update, governance voting and governance contract updates will be carried out on June 22nd. Throughout this update, WONDER Staking, a stake-competing staking system in which WEMIX is delegated to NCPs participating in WEMIX governance and PMR is distributed according to the NCP's stake, will be opened. Through WONDER Staking, users can delegate WEMIX to the NCP they want and receive WEMIX as a staking reward. • WONDER Staking Introduction Clip WONDER Staking will open on June 22nd and Grand Staking will be closed. Users who participated in the Grand Staking can withdraw all their stakings and rewards. Liquid Staking will be transferred to the most competitive WONDER and continue to stake, and support withdrawals. For more information on the Mainnet Phase2 governance voting and governance contract updates and the launch of WONDER Staking, please refer to the following details. [WONDER Staking] • WONDER Staking is a service where users stake WEMIX on a validator node of their choice, which is provided by an NCP. There are no restrictions on the selection criteria for nodes, users who stake WEMIX on a validator node will receive a portion of the rewards that the NCP earns for validating blocks. During the staking period, users can receive WEMIX which the NCP has acquired as PMR, according to their stake. • Launch date and update schedule: June 22nd, 2023, 15:00 (UTC+9) ○ June 22nd, 11:00 (UTC+9) : Grand & Liquid Staking deposit close ○ June 22nd, 13:00 (UTC+9) : Governance voting and governance contract update ○ June 22nd, 15:00 (UTC+9) : WONDER Staking opens & Grand Staking withdrawal opens & Liquid Staking deposit/withdrawal opens [Mainnet Phase2 - Governance voting and Governance contract Update] • Voting process change ○ The governance of WEMIX3.0 is based on Staked Proof of Authority, and a total of 40 NCPs can cast one vote each. In Phase 1, 1 WEMIX was recognized as 1 vote, but since each NCP was designed to cast the same number of votes by fixing the amount staked to 1.5 million, basically 1 vote was implemented per NCP. In Phase 2, the maximum staking limit will be removed, so NCPs can stake more than 1.5 million at their discretion. Accordingly, regardless of the staking amount, we will proceed with a voting and contract update to set the voting method as 1 vote per NCP. • NCP maximum staking limit remove ○ NCPs have a maximum staking limit of 1.5 million WEMIX. The maximum limit will be removed through a governance vote. NCPs can optionally stake more than 1.5 million WEMIX. The minimum staking amount is maintained at 1.5 million WEMIX. • 7-day withdrawal period for unstaking ○ To prevent overload due to excessive transactions, a 7-day withdrawal delay period will be updated to WONDER Staking through a contract update. • The distribution ratio of PMR change ○ Governance vote will be made to change the distribution rate of PMR as follows. - NCP : 40% → 50% - Ecosystem : 25% - Maintenance : 25% - Grand Staking : 10% → 0% We will continue to provide details about the WEMIX3.0 Mainnet Phase 2 update through subsequent announcements. We would be happy to have the community's attention and support for the newly launched WONDER Staking. Thank you.