WEMIX Burn Program Suspension: A Strategic Move for Ecosystem Growth

IconCryptoNewsTerminal Staff02 Aug, 2024

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WEMIX Burn Program Suspension: A Strategic Move for Ecosystem Growth

The WEMIX platform (WEMIX) recently announced the suspension of its WEMIX Burn program starting from Q3 of 2023. This decision encompasses the discontinuation of Mass Burn and Batch Burn in Q3, followed by a two-phased suspension of Auto Burn. WEMIX emphasized that this strategic move was meticulously considered to optimize not only supply and circulation but also the long-term growth and interests of its ecosystem participants. The company remains dedicated to fostering a deflationary token economy, as evidenced by its ongoing WEMIX Pay buyback program. This initiative allocates a significant portion (4-5%) of WEMIX Pay revenue toward buybacks, supporting the reduction of WEMIX supply. This measured approach reflects WEMIX's commitment to balancing supply dynamics with ecosystem sustainability. By suspending the WEMIX Burn program, the platform aims to foster a robust and enduring ecosystem for all its stakeholders.

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