[Gohebydd Papur Newydd Heddiw Byun Dong-hwi]Wemix, a virtual currency issued by WeMade, is showing signs of recovery. It is interpreted as the effect of taking measures such as new listings and buybacks to reduce the shock while the delisting is done on major domestic exchanges because the court rejected the application for a temporary injunction on the 7th .
As of 1:30 pm on the 12th, Wemix is trading at 0.4286 USD (about KRW 562) per unit. After the injunction request was denied, it fell to $0.135, but is slowly recovering.
This price boost is interpreted to be due to the measures taken by Wemade following the delisting of the domestic exchange. From 5:30 pm on the 8th, Klaytn’s Wemix Classic was listed on the domestic exchange GDAC and began trading.
After listing on GDAQ, Wemix Classic has more than doubled its initial price. The company plans to list Wemix Coin also based on Wemix 3.0 in the future, and plans to provide an exchange service between Wemix and Wemix Classic.
![WeMade's virtual asset, Wemix, was listed on GDAC, a domestic exchange. [사진 제공=위메이드]](https://i0.wp.com/cdn.ntoday.co.kr/news/photo/202212/95057_66345_35.jpg?w=800&ssl=1)
A $10 million buyback and burnback plan was also announced. The company intends to hold purchases for Wemix and Wemix Classic in an equal time-sharing booking method for 90 days from the 9th of last year to March 8 of next year.
The necessary financial resources for this will be prepared by attracting investment from the foundation, disposal of assets, and lending to related companies, and the plan is to burn WeMix after completing the buyback by sending it to the Dead Wallet and publish the results.
In addition, it was announced that it would carry out Wemix’s shrinking policy focusing on △full burning of phase 01 gas fees △quarterly burning of 25% of the total profit of platforms within the Wemix 3.0 mega ecosystem and the investment profit of the Wemix Foundation.
WeMade said, “The growth of the ecosystem has been slowed down due to the recent termination of transaction support by 4 Korean exchanges and we are temporarily in shock, but Wemix has achieved practical utility-based growth that no blockchain in the world has achieved . “We believe we will overcome and prove its worth at some point, and we will run faster to make up for the lost time of WEMIX, which has long since ceased.”
