What is WEMIX

WEMIX or WEMIX3.0 is a global blockchain-based gaming platform that has been developed by the Korean company WEMADE, with which it seeks to conquer the blockchain gaming space. To achieve this, WEMIX is built on three fundamental pillars: WEMIX Play, NILE and WEMIX.Fi. These pillars form the cornerstone of the platform and offer essential services to its users.

With this, WEMADE seeks to make blockchain finally become a revolution within the gaming world. To achieve this, WEMADE seeks to concentrate its more than 20 years in the gaming world, to bring a whole new experience to the sector. And WEMADE, a company listed on Kosdaq (Korea Stock Exchange), has more than 40 IP (Intellectual Property) of renowned games, including ChuanQi, the legendary AAA game in China, which reaches more than 500 million users.

WEMIX 3.0, blockchain and gaming

To achieve all this, WEMIX 3.0 brings a series of advancements that will allow developers to take advantage of the unique capabilities of blockchain technology and integrate it into games. First of all, WEMIX 3.0 is a blockchain network compatible with EVM (Ethereum Virtual Machine), which offers high performance and cheap commissions, thanks to its consensus protocol SPoA (Stake-based Proof of Authority), a derivative protocol that seeks to take advantage of the best of the Proof of Stake (PoS) y Proof of Authority (PoA).

In this way, the WEMIX 3.0 network is made up of a decentralized network in which 40 nodes participate, which are called Node Council Partners (NCP). These nodes are also known as the 40 WONDERS. The idea of ​​this is to avoid the high latency and enormous infrastructure needs that larger networks require, making operations communicate on the network very quickly. Likewise, this operating structure allows the WEMIX 3.0 network to offer more than 4000 TPS (Transactions Per Second).

To be part of the WEMIX 3.0 network, nodes must be clearly identified (as part of the PoA) and stake 1,5 million WEMIX tokens as a minimum to participate.

WEMIX Play, blockchain games and much more

The central point of WEMIX can be seen realized in WEMIX Play is a blockchain gaming platform that allows users to participate in various games. «Play and Earn» (Play & Earn) within the WEMIX gaming chain. This private chain, connected to WEMIX3.0, allows users to obtain resources without worrying about network congestion or inflated gas rates. The vision of the platform is to emerge as the leading hub for all services related to gaming and the token economy.

WEMIX Play features a unique virtuous circle concept where users can reinvest their gaming earnings to play better and win more. This solves the issue of players being unable to reinvest their earned assets into the game, often forcing them to convert their winnings into fiat currency.

Additionally, WEMIX Play provides essential information such as game hub, token market capitalization, token swaps, auctions and staking programs, serving the global gaming community and offering a complete service-oriented experience. The platform uses game tokens as a standard measure of value within games, and serves as a medium for exchange and purchases. These tokens incentivize gameplay and can be used for various in-game purposes, including purchasing items, upgrading equipment, expanding territory, or improving skills and techniques.

NILE, DAOs and NFTs for gaming

For its part, NILE is a service in WEMIX3.0 that works as a DAO and NFT platform. Decentralized governance projects are built on it, both for WEMIX and for projects built on the network. Furthermore, it offers a system capable of creating a powerful NFT marketplace, which is focused on supporting projects that are built on WEMIX.

All this is possible because NILE DAO operates based on the Neith Protocol. This protocol is what facilitates the creation and management of projects within the platform. It is designed to allow easy access, so that participants and users of the DAO can raise funds for projects, operate their own projects, share income and modify their operating standards.

Furthermore, NILE enables the realization of DAO projects based on real-life assets such as concerts, art exhibitions, sports, investments and real estate within the blockchain network. Tokens issued by DAOs, NFTs, tokens for DApp projects and NFTs as projects themselves are distributed and used for transactions. NILE aims for complete decentralization through autonomous incorporation, utilization and modification of the Neith Protocol.

WEMIX.fi, DeFi and gaming integrated

WEMIX.Fi is a decentralized financial platform provided by WEMIX3.0. On WEMIX.Fi, users can participate in various services, including swap, stake, pool, bridge, etc. In this functionality it is important to highlight the role of the WEMIX.30 stablecoin, the WEMIX$ token, which is issued and anchored to the USDC stablecoin, with a 100% reserve guarantee by the WEMIX 3.0 Treasury.

Thus, WEMIX$ is designed to constantly maintain a 1:1 volume peg with USDC reserved in the Treasury by minting and burning WEMIX$ based on Treasury volume. Doing so achieves price stability for WEMIX$ and allows for the expansion and contraction of total WEMIX$ volume based on the state of the DeFi ecosystem that will be built around it.

WEMIX Coin, the key to the ecosystem

In developing all these capabilities, $WEMIX Coin is the key. It is ERC-20 compatible and is used as a medium of exchange and payment within WEMIX 3.0. Currently, a total of one billion $WEMIX have already been issued in WEMIX 3.0, and these will be minted following the following scheme:

• (1 billion + alpha) $WEMIX that are issued on the Genesis Block (i.e. block 0) are coins that are created in advance for the transfer of all existing WEMIX Classic on Cypress.
• When WEMIX Governance 3.0 development is complete, a new WEMIX will be issued for each block, via the Permanent Minting Reward (PMR). This means that 86.400 $WEMIX will be issued daily and automatically distributed to the addresses defined in the on-chain governance.

Technology use cases

The WEMIX 3.0 network presents several use cases in the world of gaming, some of which are detailed below:

• Game Developer Ecosystem: WEMADE is building a new blockchain gaming ecosystem to incorporate the next wave of game developers. It provides blockchain and gaming services through its WEMIX 3.0 platform, encompassing a wide range of services such as NFT and DeFi, backed by its own currency, $WEMIX.
• blockchain games and tokenomics: WEMIX offers a complete ecosystem for blockchain games with the goal of transforming everyday games. Thus, it also allows the issuance and exchange of game tokens, with a focus on the stability of the game economy.
• Blockchain infrastructure development: WEMIX plan launch a Layer2 of Ethereum using protocols zero knowledge test (ZKP) to improve scalability and ensure user privacy and security.

In this way, WEMIX seeks to become a unified development space for the blockchain gaming world, developing technologies that allow developers to get the most out of this technology and integrate them into their gaming proposals.