Question 1

What is WEMIX?

Accepted Answer

WEMIX is the native coin of the WEMIX3.0 mainnet and the foundational asset used for payment and exchange within that network. WEMIX3.0 supports on-chain services such as games, dApps, DAOs, DeFi, and NFTs; these applications can operate in the mainnet's smart contract environment. In this article, WEMIX refers to the native asset of the WEMIX3.0 mainnet and is not conflated with assets of the same name or historical versions on other networks.

Question 2

What is WEMIX used for?

Accepted Answer

WEMIX can serve as a medium of payment and exchange within WEMIX3.0 and is used to pay the Gas required for transactions or smart contract calls. Gas is a measure of the resources consumed by the network to execute, validate, and record an operation; when users initiate an operation, they need to use WEMIX to cover the applicable fee. Therefore, fees are not determined by the transfer amount alone, but are related to the operation performed and its resource consumption. A simple transfer and a smart contract call involving more computational steps may require different amounts of Gas; the final cost paid by a user is jointly determined by the operation's Gas usage and the applicable fee rules.

Question 3

What kind of network is WEMIX3.0?

Accepted Answer

WEMIX3.0 is an EVM (Ethereum Virtual Machine)-compatible public blockchain. Developers can deploy smart contracts on it, while users can access decentralized applications, games, and digital-asset services through those contracts. EVM compatibility means that its smart contract execution environment operates in a manner compatible with the EVM; it does not mean that every Ethereum application can be used directly without adaptation. The network uses SPoA consensus. The consensus mechanism enables network participants to reach agreement on blocks and transaction states, forming the basis for application transactions to be recorded on the mainnet; whether a particular service can be used also depends on whether the application itself has been deployed and made available on WEMIX3.0.

Question 4

How is WEMIX supply controlled?

Accepted Answer

WEMIX has a maximum supply of 590 million tokens. This cap was permanently established by the Brioche hard fork; it is therefore a protocol event that changed the supply rules, rather than a description of circulating supply at that time. New token minting uses a declining block-minting mechanism: newly created WEMIX from blocks gradually decreases according to the rules; once cumulative supply reaches 590 million tokens, the network no longer increases WEMIX through block minting. Maximum supply is not the same as circulating supply at a given time, because minted assets may not all be immediately tradable.

Question 5

How do I send and receive WEMIX?

Accepted Answer

Use a wallet that supports the WEMIX3.0 mainnet to send and receive WEMIX. The recipient provides an address compatible with that mainnet; only after the sender selects the WEMIX3.0 network in the wallet, enters the address, and confirms the transaction is the transaction submitted to that network for processing. Before submitting, verify the network, address, and amount. An address that appears valid does not mean it is suitable for the currently selected network; if mainnet assets are sent to an incompatible network or an incorrect address, they may not be recoverable as expected. Private keys or seed phrases control wallet assets and should be securely kept only by their holder.

Question 6

What is the difference between WEMIX and WEMIX Classic?

Accepted Answer

WEMIX on the WEMIX3.0 mainnet and WEMIX Classic are not the same network asset that can be referred to interchangeably. The official FAQ describes WEMIX Classic as the renamed original WEMIX Token, issued on the Klaytn mainnet; it is not applicable to services based on the WEMIX3.0 mainnet. This distinction directly affects operations: wallet networks, receiving addresses, and available services may all differ. Before transferring or connecting to an application, first confirm which version you hold and select its corresponding network, rather than judging by the token name alone.

WEMIX (WEMIX) Price