What is WEMIX explained?

WEMIX is a pioneering digital currency designed specifically for use within the expansive WEMIX mega-ecosystem. It serves as a versatile tool for facilitating payments and exchanges, particularly for covering gas fees, ensuring seamless transactions across the platform.

The creation of WEMIX coins is a dynamic process, intricately tied to the generation of new blocks within the system. With each subsequent block added to the blockchain, a fresh supply of WEMIX coins is minted, introducing fresh liquidity into the ecosystem.

To incentivize participation and support the growth of the WEMIX ecosystem, a unique reward mechanism known as the Permanent Minting Reward (PMR) is in place. This reward is distributed among three key stakeholders: the Node Council Partners, the ecosystem fund, and maintenance efforts.

Node Council Partners play a crucial role in the operation and governance of the WEMIX network. Recognizing their contributions, 50% of the PMR is allocated to these partners, fostering a sense of community ownership and encouraging active participation.

The remaining 50% of the PMR is divided evenly between the ecosystem fund and maintenance efforts. The ecosystem fund receives 25%, ensuring a steady stream of funding for initiatives that promote the growth and development of the WEMIX ecosystem. Meanwhile, 25% is dedicated to maintenance, ensuring the continued smooth operation and security of the network.