WEMIX WeMix

Pros of WeMix

• Scalability and Speed: WeMix has an impressive 4,000 TPS (transactions per second) with a 1-second block interval, ensuring seamless transactions and an uninterrupted gaming experience.
• Security: It utilizes a stake-based proof-of-authority (SPoA) consensus mechanism with 40 decentralized authority nodes (WONDERS), providing high security and reliability.
• User Experience: WeMix introduces fee delegation, allowing service providers to bear gas fees on behalf of users, making blockchain adoption more accessible.
• Stable Transactions: It includes a stablecoin, WEMIX$, which is 100% backed by USDC, ensuring stable transactions without wild price fluctuations.
• Wallet Compatibility: WeMix supports renowned wallets like WEMIX Wallet and MetaMask, facilitating user interaction with the ecosystem.
• Ecosystem Diversity: WeMix has a robust ecosystem with various platforms, including WEMIX PLAY for gaming, NILE for DAO and NFTs, and WEMIX.Fi for DeFi services.

Cons of WeMix

• Relatively New: WeMix is a relatively new project in the market, which can lead to uncertainties and challenges in establishing a strong user base.
• Market Volatility: Like all cryptocurrencies, WeMix is subject to market fluctuations, which can affect its value and stability.
• Dependence on Related Products: The success of WeMix is dependent on the success of its related gaming products and services.
• Challenges in Business Expansion: The reduction of financial resources due to reserve burning poses a challenge for onboarding new dApps and expanding the ecosystem.
• Global Orientation: WeMix has been limited to the Korean market and needs to expand globally to achieve broader success.

Founders and Background

WEMIX was founded by WEMADE TREE, a subsidiary company of WEMADE, on January 29, 2019. The key figures involved include:

• Wemade: The parent company, a South Korean gaming company.
• Wemade Tree: The subsidiary that directly founded WEMIX.
• Key Executives: Notable executives include Henry Chang (former CEO) and Park Kwan-ho (founder and chairman of Wemade, who later replaced Chang as CEO).

Investors in WEMIX

• Fundraising Rounds: WEMIX conducted an IEO (Initial Exchange Offering) on September 3, 2021, raising $89,411.00.
• Investment Details: The IEO had a token price of $0.570 and achieved a return on investment (ROI) of 1.7x (+69.8%).
• Strategic Partnerships: WEMIX has made strategic investments in other companies, such as Elixir Games, a leading Web3 gaming platform, to advance the digital transformation of the gaming industry.
• Specific Investors: Detailed information on specific investors in WEMIX is not readily available in the provided sources. However, it is known that WEMIX has collaborated with various entities in the gaming and blockchain sectors.

Halal Status of WeMix

• Halal Status: No clear consensus.
• Reason: Different sources provide conflicting assessments. For example, Practical Islamic Finance labels WeMix as "Questionable", while Sharlife requires a subscription to access their Shariah judgment on WeMix. This indicates that there is no definitive agreement on whether WeMix is halal or haram.

Key Considerations

• Shariah Analysis: Evaluations consider project legitimacy, token mechanics, and reward systems.
• Legitimacy Analysis: Focuses on smart contract audits, community engagement, project authenticity, and transparency in whitepapers.
• People Analysis: Includes team education, experience, and legal standing.

Sources

• Practical Islamic Finance: Lists WeMix as "Questionable".
• Sharlife: Requires subscription for Shariah judgment on WeMix.