WEMIX gains 200%+ after stablecoin and boosted staking rewards announcement

Blockchain-based gaming, also referred to as GameFi, is definitely an up-and-coming sector that may potentially be one of the greatest catalysts for kickstarting the mass adoption of blockchain technology.

WEMIX, a gaming protocol that runs using the Klaytn network, aims to obtain the GameFi revolution which week, the project’s native token (WEMIX) rallied even while the broader market ongoing to market-off.

Data from Cointelegraph Markets Pro and TradingView implies that since hitting a minimal of $1.27 on May 12, WEMIX cost rose 269% hitting a regular high at $4.70 on May 25 since it’s 24-hour buying and selling volume elevated to $652 million.

WEMIX/USDT 1-day chart. Source: TradingView

Three good reasons for that cost reversal for WEMIX would be the approaching launch of WEMIX 3., a number of project launches and partnership contracts, and the development of lockup staking for token holders.


The primary development attracting focus on WEMIX may be the protocol’s planned mainnet launch, that is scheduled to occur on June 15.

WEMIX 3. is going to be an Ethereum virtual machine (EVM) compatible public chain which will use a stake-based proof-of-authority (SPoA) consensus formula.

Included in the mainnet launch, WEMIX may also be presenting the WEMIX Dollar (WEMIX) because the native stablecoin from the ecosystem.

WEMIX is a 100% collateralized stablecoin, supported by USD Gold coin (USDC) and off-chain assets like fiat currencies.

New partnerships boost excitement

May is a busy month for that WEMIX protocol after multiple games launched or announced their approaching launch dates around the network. New additions include Crypto Ball Z, Four Gods and each Farm, along with the onboarding from the SpoLive sports conjecture game.

Together with protocol launches, WEMIX announced several proper investments including to be the lead investor within the Old Fashioned Research (OFR) crypto fund plus an purchase of an U.S.-based augmented reality metaverse startup known as Jadu.

On May 17, they behind WEMIX also signed a memorandum of understanding using the Vietnam Blockchain Association.

Related: Former Binance executives launch $100 million venture fund

Elevated staking rewards

WEMIX also launched Stake360, a motivation that provides WEMIX holders boosted staking rewards for investing in a long lockup period.

Additionally towards the standard 7% staking reward open to all token holders, investors who accept a 90 to 360 day lockup can make money from 9% to twenty.28%.

The views and opinions expressed listed here are exclusively individuals from the author and don’t always reflect the views of Cointelegraph.com. Every investment and buying and selling move involves risk, you need to conduct your personal research when making the decision.

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