WEMIX Announcement

2023-06-10 10:13:57 WEMIX Announcement pinned «WEMIX.Fi - wRFT Lend & Borrow suspended WEMIX Medium : https://medium.com/wemix-communication/wemix-fi-wrft-lend-borrow-suspended-8b9cabd267be Dear valued WEMIX community, We would like to address an event that occurred on June 10th, concerning the temporary…» Open / Comment

2023-06-10 10:13:55 WEMIX.Fi - wRFT Lend & Borrow suspended

WEMIX Medium : https://medium.com/wemix-communication/wemix-fi-wrft-lend-borrow-suspended-8b9cabd267be

Dear valued WEMIX community,

We would like to address an event that occurred on June 10th, concerning the temporary surge in the price of wRFT and a user borrowing against the inflated collateral value of the REFLECT token. As a result of the high volatility in wRFT's price, the liquidation process became unstable, resulting in bad debt for the lending protocol.

In light of this incident, we have made the decision to temporarily suspend the deposit and lending features for REFLECT. This is due to the lower liquidity of REFLECT compared to other assets on WEMIX.Fi, as well as its reliance on a single price source. However, we want to assure you that the withdrawal and liquidation functions for REFLECT, as well as all other assets supported on our Lend & Borrow service, will continue to operate as usual.

We understand the inconvenience this may cause and sincerely apologize for the incident. Our team is committed to creating a safe and secure DeFi ecosystem. We will be diligently addressing the bad debt incurred during this incident, and the process will commence on June 12th (Monday).

Thank you for your understanding and continued support.

Best regards,
The WEMIX Team Open / Comment

2023-06-09 04:51:21 Transfer Disclosure (100,004,000 WEMIX)

WEMIX Medium :
https://medium.com/wemix-communication/transfer-disclosure-100-004-000-wemix-9ca292106997

On June 9th, a WEMIX transfer was made accordingly.

WEMIX transfer for foundation-owned non-circulating WEMIX to be stored in Ceffu custody wallet(5th WEMIX transfer)

> Details on test transfers 
● The 4 test transfers (#3- #6) are for monitoring circulation(109,385,730 WEMIX) for the last Ceffu custody transfer which will be held on June 16th.

> WEMIX Transfer Summary
● Amount: 100,004,000 WEMIX
● Purpose: Transfer of Foundation-owned WEMIX(non-circulating) to be stored in Ceffu custody Wallet.
● Impact on Circulation: The circulating supply is not affected as the transfer is from the Foundation-Owned Wallet(non-circulating) to an external custody wallet(non-circulating).
● Remarks: After the current transfer, the total  non-circulating foundation-owned WEMIX transferred to the Ceffu custody wallet is 500,004,000 WEMIX.

> WEMIX Transfer Details
#1 [Test Transfer] Reserve Wallet (0xC97c…a2eb) ▷ Foundation Custody Reserve Wallet2 (0x7075…4b35)
● Amount: 10,000 WEMIX 
● TX Hash:  0x13dd33429a7e14c9ac9ddf5fff2ea1ff6962b571edff39f7b69a1cee84084abe

#2 [WEMIX Transfer] Reserve Wallet (0xC97c…a2eb) ▷ Foundation Custody Reserve Wallet2 (0x7075…4b35)
● Amount: 99,990,000 WEMIX 
● TX Hash: 0xf6d28c548125ebb0b1a5e0496d6c356de59e24862546720fe5046028d79f28c6 

# 3 [Test Transfer] Foundation Allowance Wallet 1 (0x786D…06fb) ▷Foundation-owned Custody Wallet 1 (0x32A2…6a10) 
● Amount: 1,000 WEMIX
● TX Hash: 0xb10f04bfde78e65cd60dddfaa0db66eb2471cb1bcb8b3938e59222a5e3e24bad 

#4 [Test Transfer] Foundation Allowance Wallet 2 (0x5Fd2…A181) ▷Foundation-owned Custody Wallet 2 (0x9f9F…C293) 
● Amount: 1,000 WEMIX
● TX Hash: 0x5d1226e83438c22fb838c88d36e3bd9cbec2ca0ab083dc13d26e088d240a88fe

#5 [Test Transfer] Foundation Allowance Wallet 3 (0x107B…Cadd) ▷Foundation-owned Custody Wallet 3 (0xAc13…d531) 
● Amount: 1,000 WEMIX
● TX Hash: 0xab574e544c15a9d3e0c41e7da9ed8215b4658a9062d5f406834bc1c95ee67221 

#6 [TestTransfer] WEMIX Pte. Ltd. (based in Korea) Wallet (0xCabD…06E0) ▷WEMIX Pte. Ltd. (based in Korea) Custody Wallet (0x8442…c522) 
● Amount: 1,000 WEMIX
● TX Hash: 0x221f58eef2ec163f184c33cd8e41ea4e6b3cf478e7616f536fc83ed9517227ad

Thank you. Open / Comment

2023-06-08 08:37:58 WEMIX Announcement pinned «Temporary suspension of Xangle Live Watch related to Applepie Hard Fork  WEMIX Medium :  https://medium.com/wemix-communication/temporary-suspension-of-xangle-live-watch-related-to-applepie-hard-fork-13bc44cf54bd Cross Angle(Xangle), WONDER 5 of 40 WONDERS…» Open / Comment

2023-06-08 08:37:54 Temporary suspension of Xangle Live Watch related to Applepie Hard Fork 

WEMIX Medium : 
https://medium.com/wemix-communication/temporary-suspension-of-xangle-live-watch-related-to-applepie-hard-fork-13bc44cf54bd

Cross Angle(Xangle), WONDER 5 of 40 WONDERS will proceed pre-node update for the WEMIX3.0 Applepie Hard Fork which will be held on June 14th. For smooth progress of the update, the WEMIX Live Watch page will temporarily be suspended for about 30 minutes today. Please refer to the Xangle Live Watch notice below for details

Temporary suspension date: June 8th (Thursday) 15:00~15:30 KST (30 minutes) 
Xangle Live Watch announcement: Link

Thank you. Open / Comment

2023-06-08 05:14:22 Transfer Disclosure (10,061,409 WEMIX)

WEMIX Medium :
https://medium.com/wemix-communication/transfer-disclosure-10-061-409-wemix-25ae40ddce6e

On June 8th, a total of 3 WEMIX transfers was made accordingly.

1. WEMIX transfer for the marketing fee of Kucoin exchange

>  Details on the marketing campaign 
● To encourage more active trading of investors on Kucoin exchange, a joint event by the foundation and Kucoin will be conducted. 

> WEMIX Transfer Summary
● Amount: 50,000 WEMIX
●  Purpose: WEMIX Transfer for the marketing campaign of Kucoin exchange.
●  Impact on Circulation: The circulating supply is not affected as the transfer is from the
     foundation-owned wallet(in circulation) to an external wallet(in circulation).

> WEMIX Transfer Details
#1 [Test Transfer] Circulation Wallet (0x116c...8aAe) ▷ Kucoin exchange wallet ((0x8f8b…6d3a)
● Amount: 1 WEMIX 
● TX Hash: 0x07035491940edd6dae29f784cfaecd59c46ac6c85d0a68c02a28b71a371bba35

#2 [WEMIX Transfer] Circulation Wallet (0x116c...8aAe) ▷ Kucoin exchange wallet ((0x8f8b…6d3a)
● Amount: 49,999 WEMIX 
● TX Hash: 0x8124173531de2b42c298262d976be40b858554c17cc795e74f73fda700afc757

2. WEMIX transfer for WEMIX BURN platform development fee 

> Summary on WEMIX Transfer
● Amount: 11,409 WEMIX
● Purpose: Transfer of WEMIX for Platform development fee
● Impact on Circulation: No changes in circulation as the transfer is from the foundation wallet (in circulation) to an external wallet (in circulation).

> WEMIX Transfer Stages
[WEMIX Transfer] Circulation wallet (0x116c…8aAe) ▷ Algorith Ventures Wallet (0x33d5…84AA)
● Amount: 11,409 WEMIX
● TX Hash: 0x1326dbdae4118e9b76b7b2d468420b089decd85b848475cd772ce38947038404

3. WEMIX Transfer for additional reserve funds for WEMIX PLAY Bridge service

> Summary on WEMIX Transfer 
● Amount: 10,000,000 WEMIX 
● Purpose: To provide additional reserve funds for WEMIX PLAY Bridge service 
● Change in Circulating Supply: No changes have been made in circulating supply as WEMIX Classic in circulation is retrieved for providing new WEMIX based on the “lock-and-release” method.

> WEMIX Transfer Details
#1. [Bridge Fund Transfer] WEMIX3.0 Bridge 1 wallet (0xb572…b5A9) ▷ Play Bridge contract (0xFdE4…9e67)
● Amount : 10,000,000 WEMIX 
● TX Hash :0xdd4be69fde00487a0e9655fdc15b40ad74496c5c85412ba415246b94d360106d

Thank you. Open / Comment

2023-06-06 06:59:28 WEMIX Announcement pinned «WEMIX3.0 Phase2 Update & WONDER Staking WEMIX Medium : https://medium.com/wemix-communication/wemix3-0-phase2-update-wonder-staking-706160c79346 WEMIX Team has previously announced the WEMIX3.0 ApplePie(Mainnet Phase2) update, which will gradually introduce…» Open / Comment

2023-06-06 06:59:23 WEMIX3.0 Phase2 Update & WONDER Staking

WEMIX Medium : https://medium.com/wemix-communication/wemix3-0-phase2-update-wonder-staking-706160c79346

WEMIX Team has previously announced the WEMIX3.0 ApplePie(Mainnet Phase2) update, which will gradually introduce democratic governance starting with a structure of 40 verified node governance. As part of the WEMIX3.0 Phase2 update, governance voting and governance contract updates will be carried out on June 22nd.

Throughout this update, WONDER Staking, a stake-competing staking system in which WEMIX is delegated to NCPs participating in WEMIX governance and PMR is distributed according to the NCP's stake, will be opened. Through WONDER Staking, users can delegate WEMIX to the NCP they want and receive WEMIX as a staking reward.

• WONDER Staking Introduction Clip

WONDER Staking will open on June 22nd and Grand Staking will be closed. Users who participated in the Grand Staking can withdraw all their stakings and rewards. Liquid Staking will be transferred to the most competitive WONDER and continue to stake, and support withdrawals.
For more information on the Mainnet Phase2 governance voting and governance contract updates and the launch of WONDER Staking, please refer to the following details.

[WONDER Staking]

• WONDER Staking is a service where users stake WEMIX on a validator node of their choice, which is provided by an NCP. There are no restrictions on the selection criteria for nodes, users who stake WEMIX on a validator node will receive a portion of the rewards that the NCP earns for validating blocks. During the staking period, users can receive WEMIX which the NCP has acquired as PMR, according to their stake.

• Launch date and update schedule: June 22nd, 2023, 15:00 (UTC+9)
○ June 22nd, 11:00 (UTC+9) : Grand & Liquid Staking deposit close
○ June 22nd, 13:00 (UTC+9) : Governance voting and governance contract update
○ June 22nd, 15:00 (UTC+9) : WONDER Staking opens & Grand Staking withdrawal opens & Liquid Staking deposit/withdrawal opens

[Mainnet Phase2 - Governance voting and Governance contract Update]

• Voting process change
○ The governance of WEMIX3.0 is based on Staked Proof of Authority, and a total of 40 NCPs can cast one vote each. In Phase 1, 1 WEMIX was recognized as 1 vote, but since each NCP was designed to cast the same number of votes by fixing the amount staked to 1.5 million, basically 1 vote was implemented per NCP. In Phase 2, the maximum staking limit will be removed, so NCPs can stake more than 1.5 million at their discretion. Accordingly, regardless of the staking amount, we will proceed with a voting and contract update to set the voting method as 1 vote per NCP.

• NCP maximum staking limit remove
○ NCPs have a maximum staking limit of 1.5 million WEMIX. The maximum limit will be removed through a governance vote. NCPs can optionally stake more than 1.5 million WEMIX. The minimum staking amount is maintained at 1.5 million WEMIX.

• 7-day withdrawal period for unstaking
○ To prevent overload due to excessive transactions, a 7-day withdrawal delay period will be updated to WONDER Staking through a contract update.

• The distribution ratio of PMR change
○ Governance vote will be made to change the distribution rate of PMR as follows.
- NCP : 40% → 50%
- Ecosystem : 25%
- Maintenance : 25%
- Grand Staking : 10% → 0%

We will continue to provide details about the WEMIX3.0 Mainnet Phase 2 update through subsequent announcements.

We would be happy to have the community's attention and support for the newly launched WONDER Staking.

Thank you. Open / Comment

2023-06-05 12:40:46 WEMIX Announcement pinned «WEMIX platform temporary maintenance WEMIX Medium : https://medium.com/wemix-communication/wemix-platform-temporary-maintenance-a71068438bb9 WEMIX platfrom takes out its service through Microsoft Azure, the cloud service of Microsoft. We are notifying…» Open / Comment

2023-06-05 12:40:43 WEMIX platform temporary maintenance

WEMIX Medium :
https://medium.com/wemix-communication/wemix-platform-temporary-maintenance-a71068438bb9

WEMIX platfrom takes out its service through Microsoft Azure, the cloud service of Microsoft.

We are notifying our users about the Microsoft Azure service maintenance since it will directly affect the WEMIX platform.

Please be informed with the details below.

[Maintenance Details]
• A service maintenance of Microsoft Azure will be held.
• While the maintenance is ongoing partial data may not be updated due to the unstable connection with the database. All systems will be normalized after the maintenance.
• There will be no data loss due to the maintenance.

[Maintenance Schedule]
• PAPYRUS : 
> 1st maintenance: June 6th 03:00, 2023 ~ June 6st 04:05, 2023 [1hr 5 mins] (UTC+9)
> 2nd maintenance: June 7th 00:00, 2023 ~ June 7th 00:05, 2023 [5 mins] (UTC+9)
• WEMIX Wallet : 
> Mainnet: June 6th 03:00, 2023 ~ June 6th 03:10 [10 mins] (GMT+9)
• WEMIX.Fi :
> Testnet: June 6th 01:00, 2023 ~ June 6th 01:10 [10 mins] (GMT+9)
> Mainnet: June 6th 04:00, 2023 ~ June 6th 04:10 [10 mins] (GMT+9)
* Maintenance schedule may alter due to Microsoft Azure Cloud’s maintenance circumstances.

[Effects on the Service]
• Service : PAPYRUS, WEMIX Wallet, WEMIX.Fi.
• PAPYRUS : There may be partial disconnecting errors during the maintenance.
• WEMIX Wallet : There will be no effects on the service
• WEMIX.Fi : There will be no effects on the service

Thank you. Open / Comment