Minting

This is the description of Permanent Minting Reward (PMR).

WEMIX, the native coin of the WEMIX mega-ecosystem, serves as the primary medium of exchange and payment within the WEMIX3.0 mainnet. With the introduction of the 'Brioche' hard fork, WEMIX tokenomics have undergone significant transformations, creating a sustainable and value-driven ecosystem. The hard fork permanently reduced and capped the maximum supply at 590 million WEMIX to preserve the token’s value and stability.

The 'block minting halving' mechanism, introduced by the Brioche hard fork, is designed to gradually reduce the minting rate of WEMIX per block called 'Permanent Minting Reward (PMR)’ over time. Initially, WEMIX was minted at a rate of 1 WEMIX per block, amounting to 86,400 WEMIX per day or 31,536,000 WEMIX per year. The first halving reduced the annual minting amount to about 15 million WEMIX. This systematic reduction continues in 63,115,200-block cycles, progressively decreasing the number of tokens minted and fostering a more stable and advanced tokenomic structure.

In addition to the reduced maximum supply and the new minting mechanism, the allocation of WEMIX has been updated to support the ecosystem's growth and development. The foundation's holdings are now categorized for various essential functions, with a significant portion of the remaining tokens burned. This strategic move effectively manages the token supply, removes the perception of a dominance structure, and fosters a more inclusive ecosystem, promoting greater participation and ownership.

WEMIX is based on the ERC-20 standard (Ethereum Request for Comment-20), ensuring transferability and compatibility via bridging to other EVM chains. This foundational technology underpins the robust and versatile nature of the WEMIX ecosystem.