Wemade announced on the 22nd that it has issued a 100% reserve stablecoin ‘WEMIX$’.
Wemix Dollar is the transaction currency of WeMade’s blockchain mainnet ‘Wemix 3.0’ ecosystem. It is used for all transactions including various game tokens, NFTs, and DeFi.
We will first issue 11 million Wemix Dollars to identify the stable size of the ecosystem and supply the actual demand for Wemix Dollars.
Afterwards, it is operated by the DIOS protocol devised by WeMade. DIOS is a protocol that stabilizes the price while adjusting the issuance of Wemix Dollars according to real demand.
Wemix Dollar has secured stability. To maintain stability, 100% USDC is guaranteed as much as Wemix Dollars are issued.
USDC is a stablecoin with US fiat dollars as a reserve. The first mixed dollar is 1 USDC, which is 1 dollar.
The issued Wemix Dollar and collateralized USDC amount can be checked in real time on the Wemix 3.0 mainnet on-chain.
Wemix Dollar has a recursive relationship that grows together qualitatively and quantitatively with the native coin ‘Wemix’.
WeMade distributes a certain share of the main profit generated by the Dios Protocol to the Wemix holders community through Dios staking.
As a result, as the number of Wemix dollar-based transactions increases, the value of Wemix increases. If the Wemix 3.0 ecosystem expands due to an increase in the value of Wemix, the demand for Wemix Dollars will increase again.
According to the company’s explanation, Wemix Dollar boasts autonomous scalability by increasing or incinerating itself according to the expansion and contraction of the ecosystem after the first issuance.
The two protocols of Dios will additionally issue or burn Wemix Dollars to preserve the value of Wemix Dollars and create a sustainable ecosystem.
Wemade also opened a decentralized financial service, Wemix Pie, on the 22nd. It provides convenient services optimized for virtual assets such as storage, exchange, and transmission.
‘Wemix Pie’ is a web service. You can connect and use the new ‘Wemix Wallet’ based on Wemix 3.0 launched on the 22nd.
WeMade CEO Jang Hyeon-guk said, “Wemix Dollar is the most innovative stablecoin with stability, recursion, and scale scalability of stablecoins and native coins. We will make it a key currency,” he said.
Meanwhile, WeMade plans to introduce a new economy platform ‘NILE’ that combines NFT and DAO (Decentralized Autonomous Organization) one after another.
