WEMIX Foundation suspends WEMIX token burning plan

Golden Finance reported that the WEMIX Foundation has announced the suspension of the WEMIXToken destruction plan and will redirect resources to ecosystem expansion. The WEMIX team stated that the decision to stop the destruction plan is aimed at balancing supply, circulation, and the sustainable rise of the ecosystem. At the same time, the team will continue to promote deflationary Token economy through the WEMIX Pay repurchase plan, pledging to use at least 4-5% of WEMIX Pay’s income for repurchase. Previously, the foundation implemented token burning in various ways, including six large-scale burnings, batch burnings, and automatic burnings. In the Brioche Hard Fork on July 1st this year, the foundation burned 435 million WEMIX (40% of the total circulation) and implemented the Block mint Halving mechanism.