The WEMIX Foundation has decided to stop the WENIX token minting rewards for each block and plans to implement a hard fork modification in the first quarter

ChainCatcher news, the South Korean blockchain gaming platform WEMIX announced that the foundation has decided to stop the WENIX token minting rewards for each block, meaning that the total supply of WEMIX will remain unchanged, or will start to decrease from the block height at which the block minting rewards are stopped. The project team will use the WEMIX held by the foundation for distribution to incentivize ecosystem contributors, which is expected to last for about 20 years, while the current network fees through automatic destruction will be converted to bulk destruction, with the destruction rate determined at the end of each quarter.

According to the timeline, WEMIX will release an updated white paper reflecting the above changes and will redistribute the token allocation based on the updated white paper. Subsequently, WEMIX3.0 will undergo a hard fork, which will stop block reward minting after deployment, and the total supply of WEMIX will be determined based on the specified block height, disclosed on various data aggregation platforms such as CoinMarketCap and through exchanges. In addition, the new block rewards will be distributed through a "block reward" wallet designed separately by the WEMIX foundation. The modifications and deployment of WEMIX3.0 are expected to take place in the first quarter of this year. The project team will provide guidance to the community through official announcements before each program execution.