WeMade attempted to sell WEMIX in the over-the-counter market by issuing structured financial products

ChainCatcher news, informed sources revealed that the South Korean gaming company WeMade is conducting WEMIX token sales in the over-the-counter market through the issuance of structured financial products. These tokens will be directly sold in the secondary market, such as exchanges, after the lock-up period ends. Due to the controversy over WEMIX's circulation, the sales on exchanges did not go as planned.

According to the memorandum of the structured financing transaction terms, which is suspected to have been written in March this year, the minimum investment is 300 million won, with a lock-up period of one year, adjustable based on the amount. When the fund purchases tokens held by the Wemix Foundation, the discount rate is over 20%. The fund offers a basic return rate of 10%, and investors are required to pay a 1% management fee to the fund.

Informed sources stated that at the time, the Wemix Foundation aimed to create a fund amounting to 3 billion to 5 billion won or even higher. "As far as I know, the fund is specifically set up for large individual investors."