Blockchain-based gaming, often known as GameFi, is an up-and-coming sector that might probably be one of many main catalysts for kickstarting the mass adoption of blockchain know-how.
WEMIX, a gaming protocol that operates on the Klaytn community, goals to get in on the GameFi revolution and this week, the venture’s native token (WEMIX) rallied at the same time as the broader market continued to sell-off.
Data from Cointelegraph Markets Pro and TradingView exhibits that since hitting a low of $1.27 on May 12, WEMIX worth climbed 269% to hit a each day excessive at $4.70 on May 25 as its 24-hour buying and selling quantity elevated to $652 million.
Three causes for the value reversal for WEMIX are the upcoming launch of WEMIX 3.0, a sequence of venture launches and partnership agreements, and the introduction of lockup staking for token holders.
WEMIX 3.0
The most important growth attracting consideration to WEMIX is the protocol’s deliberate mainnet launch, which is scheduled to happen on June 15.
WEMIX 3.0 will likely be an Ethereum digital machine (EVM) suitable public chain that may make the most of a stake-based proof-of-authority (SPoA) consensus algorithm.
As a part of the mainnet launch, WEMIX may also be introducing the WEMIX Dollar (WEMIX) because the native stablecoin of the ecosystem.
WEMIX will likely be a 100% collateralized stablecoin, backed by USD Coin (USDC) and off-chain property like fiat currencies.
New partnerships enhance pleasure
May has been a busy month for the WEMIX protocol after a number of video games launched or introduced their upcoming launch dates on the community. New additions embrace Crypto Ball Z, Four Gods and Every Farm, in addition to the onboarding of the SpoLive sports activities prediction sport.
Along with protocol launches, WEMIX introduced a number of strategic investments together with being the lead investor within the Old Fashion Research (OFR) crypto fund in addition to an funding in an U.S.-based augmented actuality metaverse startup known as Jadu.
On May 17, the staff behind WEMIX additionally signed a memorandum of understanding with the Vietnam Blockchain Association.
Related: Former Binance executives launch $100 million enterprise fund
Increased staking rewards
WEMIX additionally launched Stake360, an incentive that gives WEMIX holders boosted staking rewards for committing to an prolonged lockup interval.
#WEMIX #Lockup #Staking 「Stake360」 Notice
❓What is #Stake360?- Stake360 is 90 days/180 days/270 days/ 360 days maturity reward staking service.
Details of #Maturity #reward, #Heritage system, and Token #Airdrop is offered beneath : https://t.co/ceeAxW1Z2f pic.twitter.com/u973uVvC6Z
— WEMIX (@WemixNetwork) May 19, 2022
In addition to the usual 7% staking reward accessible to all token holders, buyers who comply with a 90 to 360 day lockup can earn from 9% to twenty.28%.
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