WEMIX Implemented Deflation Policy After Delisting On 4 Korean Exchanges

The WEMIX chain gaming platform will implement a token deflation policy and 25% of investment income will be delisted quarterly after being delisted on the 4 largest Korean exchanges.

On December 9, according to the official announcement, Korean game giant Wemade’s chain game platform announced that it will immediately launch redemption and destruction operations, and will game acquisition and merge within 90 days from December 9, 2022 to March 8, 2023.

The platform will burn $10 million worth of tokens WEMIX. In addition, the platform will adopt and implement a WEMIX deflation policy, and 25% of the investment income generated by all WEMIX3.0 platforms and platforms will be canceled quarterly.

As mentioned in the previous article, the Korean Court rejected the application to suspend the order to delist tokens on major Korean exchanges.

Facing the Court’s ruling, Wemade said it respects the decision and will plan to develop the token on other Korean exchanges and expand to foreign exchanges.

This is considered the first positive option of the platform to control inflation. Compared to the price drop of more than 60% yesterday, WEMIX is back with a 50% increase, currently trading at $0.2922. However, there is still a very long way to go to get back to $ 1.6 at the time before the storm.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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