WEMIX Foundation Halts Token Destruction Program, Turns to Ecosystem Expansion

WEMIX Foundation Announces Discontinuation of WEMIX Token Destruction Program, Redirects Resources to Ecosystem Expansion The WEMIX team says the decision to discontinue the destruction program is aimed at balancing supply, circulation, and sustainable ecosystem growth.

At the same time, the team will continue to advance the deflationary token economy through the WEMIX Pay buyback program, committing at least 4-5% of WEMIX Pay revenue to buybacks.

Previously, the Foundation implemented token destruction in a variety of ways, including six mass destructions, batch destruction, and automated destruction. In the Brioche hard fork on July 1 of this year, the Foundation destroyed 435 million WEMIX (40% of the total mintage) and implemented a block minting halving mechanism.