Token rewards will instead be distributed from Wemix Foundation's digital wallets.
South Korean gaming blockchain Wemix, with a diluted market cap of $2.6 billion at the time of publication, will discontinue block minting rewards "to further solidify the fundamentals and practical aspects of WEMIX tokenomics."
According to the Jan. 9 announcement, the total supply of Wemix "will either remain fixed or be reduced from the block height in which the discontinuation of block minting rewards is implemented" by the end of Q1 2024.
Before the announcement, Wemix tokens had an annual inflation rate of 3.15%. Wemix developers say they are committed to "achieving a deflationary economy" through the removal of block minting rewards and the token burn of gas fees used on the network.
