WEMIX Dollar

WEMIX$ Price

About WEMIX Dollar (WEMIX$)

WEMIX Dollar is the native, fully collateralized stablecoin of the WEMIX3.0 ecosystem, designed to provide price stability and serve as a reliable medium of exchange.

• The asset is 100% collateralized by USDC, ensuring that every minted token is backed by an equivalent value of on-chain reserves.
• Price stability is maintained through the DIOS protocol, which automatically regulates supply based on ecosystem expansion and contraction.
• It serves as the primary currency for decentralized finance, gaming, and community platforms within the WEMIX mega-ecosystem.

What Is WEMIX Dollar

WEMIX Dollar is a stablecoin developed by the WEMIX Foundation to act as a store of value and unit of account for the WEMIX3.0 blockchain. It aims to solve the problem of high volatility in the cryptocurrency market by providing a standardized currency that users can depend on for transactions and value preservation. The token is integrated across various platforms, including WEMIX PLAY for gaming, NILE for DAO-powered NFT projects, and WEMIX.Fi for decentralized finance services.

Value moves through the system as users interact with various decentralized applications (dApps) and games. The token is put to work as a tool for staking and as a liquidity source in decentralized exchanges. As the ecosystem grows and demand for the stablecoin increases, the protocol adjusts its supply to maintain its peg, scaling the circular economy of the WEMIX3.0 network.

What Makes WEMIX Dollar Unique

• Full Collateralization: Unlike many other assets in the stablecoins category, WEMIX Dollar is 100% collateralized by USDC, a widely recognized fiat-backed stablecoin.
• DIOS Protocol: The WEMIX Dollar In and Out Stabilizer (DIOS) is a specialized mechanism that manages the peg through automated arbitrage and supply adjustments.
• Ecosystem Integration: The token is natively supported by the world's largest blockchain gaming platform, WEMIX PLAY, providing immediate utility to a large user base.
• Transparency: The collateral status and total supply are transparently disclosed through the WEMIX Macroscope, allowing users to verify the backing in real-time.

What Can You Use WEMIX Dollar for?

WEMIX Dollar is pegged to the US Dollar.

• Value retention: The asset allows users to hold a digital, on-chain representation of the US Dollar, which may reduce exposure to crypto-market volatility while maintaining liquidity within the WEMIX Ecosystem.
• Yield generation: Users can participate in DIOS Staking to earn rewards generated from the protocol's stabilization activities, or provide liquidity to lending and borrowing services on WEMIX.Fi.
• Cross-border settlement / value transfer: It provides a capability for frictionless cross-border transfer of US Dollar value across the gaming, NFT, and DeFi platforms integrated into the WEMIX3.0 network.
• Collateralization: WEMIX Dollar can be used as backing for borrowing other assets within the WEMIX.Fi Lend & Borrow protocol or as margin for decentralized trading.

How Does WEMIX Dollar Work?

The WEMIX Dollar protocol relies on three main components: the Treasury, the MINT contract, and the DIOS stabilizer. The Treasury securely stores the USDC used as collateral, while the MINT contract handles the creation and burning of tokens. DIOS maintains the 1:1 peg with USDC through two sub-protocols: Treasury-In Protocol (TIP) and Treasury-Out Protocol (TOP). When demand rises and the price exceeds 1 USDC, TIP mints new tokens to restore the peg; conversely, when demand falls, TOP uses Treasury reserves to buy and burn tokens.

A safety mechanism called the Blockade is implemented to protect the Master Liquidity Pool (MLP) on WEMIX.Fi. If the exchange ratio deviates by more than 5%, the Blockade halts external trading, allowing only the DIOS protocol to perform stabilization trades until the peg is restored. This ensures that the system remains an application utility token provider for the ecosystem even during periods of extreme market stress.

Team Info and Investors

WEMIX Dollar was launched by the WEMIX Foundation, which is backed by Wemade, a prominent South Korean video game developer. The project's governance is overseen by the Node Council Partners (NCP), also known as WONDERs, which consist of 40 global technology and blockchain organizations. These partners contribute to the network's security and decision-making processes, ensuring a decentralized approach to the ecosystem's growth. Specific early venture backing for the stablecoin is not detailed, as it leverages Wemade's corporate resources and the established WEMIX network.

Where can you buy WEMIX Dollar?

WEMIX$ tokens can be traded on decentralized exchanges. The most popular exchange to buy and trade WEMIX Dollar is WEMIX.Fi, where the most active trading pair WEMIX$/WWEMIX has a trading volume of $121.25 in the last 24 hours.

What is the daily trading volume of WEMIX Dollar (WEMIX$)?

The trading volume of WEMIX Dollar (WEMIX$) is $243.03 in the last 24 hours, representing a -28.40% decrease from one day ago and signalling a recent fall in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for WEMIX Dollar (WEMIX$)?

WEMIX Dollar (WEMIX$) reached an all-time high of $1.54 and an all-time low of $0.4796. It’s now trading -35.90% below that peak and 105.60% above its lowest price.

What is the market cap of WEMIX Dollar (WEMIX$)?

Market capitalization of WEMIX Dollar (WEMIX$) is $14,377,832 and is ranked #954 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of WEMIX$ tokens (15 Million tokens are tradable on the market today).

What is the fully diluted valuation of WEMIX Dollar (WEMIX$)?

The fully diluted valuation (FDV) of WEMIX Dollar (WEMIX$) is $14,377,832. This is a statistical representation of the maximum market cap, assuming total number of 15 Million ETH tokens are in circulation today.

How does the price performance of WEMIX Dollar compare against its peers?

With a price increase of 0.70% in the last 7 days, WEMIX Dollar (WEMIX$) is outperforming the global cryptocurrency market which is down -4.80%, while outperforming when compared to similar Stablecoins cryptocurrencies which are up 0.10%.