Blockchain-based gaming, also known as GameFi, is a promising area that could be one of the main catalysts for the mass adoption of blockchain technology.
WEMIX, a gaming protocol that runs on the Klaytn network, aims to enter the gamefie revolution, and this week, the project’s original token (WEMIX) grew, even as sales began to hit the market as a whole.
Data from Cointelegraph Markets Pro and TradingView show that since hitting a low of 27 1.27 on May 12, WEMIX has risen 269% to a daily high of 70 4.70 on May 25, with its 24-hour trading volume reaching $ 652 million.
The three reasons for WEMIX’s price reversal are the forthcoming release of WEMIX 3.0, a series of project releases and partnership agreements, and the introduction of blocked stacking for token holders.
The main development that draws attention to WEMIX is the planned Mennet launch of the protocol, which is scheduled for June 15.
WEMIX 3.0 will be a public Etherium Virtual Machine (EVM) compliant chain that will use a participatory-based Proof of Authority (SPoA) consent algorithm.
As part of the Mennet launch, WEMIX will also introduce the WEMIX dollar (WEMIX) as the ecosystem’s original stablecoin.
WEMIX will be an off-chain asset with 100% supported stablecoin and fiat currencies backed by USD Coin (USDC).
The new partnership will add to the excitement
May was a busy month for the WEMIX protocol after many games were released on the network or their upcoming release dates were announced. New additions include an integration of Crypto Ball Z, Four Gods and Every Farm, as well as SpoLive sports prediction games.
Along with the protocol launch, WEMIX announced a number of strategic investments, including being a major investor in Old Fashion Research (OFR) crypto funds, as well as investing in a US-based augmented reality metavers startup called Jadu.
On May 17, the team behind WEMIX signed a memorandum of understanding with the Vietnam Blockchain Association.
Increased stacking rewards
WEMIX also launched Stake360, an incentive that offers WEMIX holders an increased stacking reward for commitment to extended lock-in periods.
What is # Stake360?
– Stake360 is a 90 day / 180 days / 270 days / 360 days maturity reward stacking service.
– WEMIX (emWemixNetwork) May 19, 2022
#WEMIX #Lockup #Staking 「Stake360」 Warning
म्हणजे # Stake360 What is it?
– Stake360 is a 90 days / 180 days / 270 days / 360 days reward stacking service.
Details of #Maturity #reward, #Heritage system and token #Airdrop are given below: https://t.co/ceeAxW1Z2f
– WEMIX (@WemixNetwork) May 19, 2022
In addition to the standard 7% reward available to all token holders, investors who agree to a 90-360 day lock can earn 9% -20.28% per year.
The opinions and opinions expressed herein are those of the author only and do not reflect the opinions of Cointelegraph.com. There is a risk involved in every investment and trade movement, you should do your own research when making decisions.
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