- Announcing vesting plan based on the global standards to regain trust
- Improving transparency through the monitoring system
- Ensuring the growth of the mega-ecosystem through burn campaigns and vesting plan
SEOUL, South Korea, Dec. 22, 2022 /PRNewswire/ — WEMIX announced its vesting plan for a transparent tokenomics and to secure trust regarding the growth potential of WEMIX.
First, the circulating supply of WEMIX is calculated based on the global standards.
- Circulating supply = Total supply – Non-circulating supply
- Total supply = Cumulative supply – Burned amount
- Non-circulating supply = Lock-up supply + NCP Staking
- Lock-up supply = Foundation lock-up supply + lock-up volume excluding Foundation
- Lock-up supply excluding Foundation = Wemade Lock-up volume + Third-party lock-up volume
The holdings of the Foundation will be locked up and from January 2023, and a pre-disclosed volume of WEMIX will be circulated through monthly linear vesting over 5 years.
The lock-up period for team compensation will expire in October 2023 and will be distributed to recipients after a certain year of employment. WEMIX that they receive will be deposited into a smart contract and will be allocated into the recipient’s wallet every month over 5 years. The compensation will be available for circulation.
WEMIX owned by Wemade will be locked up for 3 years starting January 2023 and will be transferred to a separate wallet in January 2026.
To secure transparency, the team will be using monitoring systems. Once integration of the custody service is complete, all the non-circulating supply will be transferred to the custody wallet.
In addition, the community can check the total amount and circulating supply provided in real-time on CoinMarketCap and CoinGecko. It will also be available through Xangle’s new service, Livewatch.
‘Livewatch’ is a new real-time monitoring service by Xangle, a data intelligence platform by CrossAngle, one of the NCPs for WEMIX3.0, and WEMIX was selected as its first project.
Based on the vesting plan, the team will continue burn campaigns along with deflationary tokenomics policies to increase the value of WEMIX and growth of the economy within the mega-ecosystem.
To read more about the vesting plan of WEMIX, check out the official Medium channel.
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SOURCE Wemade Co., Ltd