The platform stands out for its Play-and-Earn (P&E) model, enabling players to earn real economic value while playing games. In 2021, WEMIX launched the popular MMORPG “MIR4,” marking one of the first commercial successes in this space. 

Founders & Team 

• Developed by WEMADE’s blockchain-focused subsidiary, Wemade Tree 
• WEMADE CEO: Chang “Henry” Hyun-guk 
• Supported directly by WEMADE and its blockchain arm WEMIX Pte. Ltd. 

Investors & Partners 

• Microsoft (invested in WEMADE in 2022) 
• Shinhan Asset Management 
• Korea Investment Partners 
• Collaboration with Binance Custody 
• Planned integrations with Web3 projects like Immutable X, Chainlink, and Celer Network 

Project Vision

WEMIX3.0 aims to link in-game achievements with real economic value and create a fair, transparent digital economy through DeFi and NFT integration. 

• Consensus: Stake-based Proof of Authority (SPoA) 
• 40-node Node Council Partner (NCP) system 
• WEMIX$: USDC-backed stablecoin for ecosystem stability 
• WEMIX PLAY: Blockchain gaming platform 
• NILE: DAO infrastructure 
• Infrastructure services: WONDER Staking, WEMIX Wallet, Explorer, Bridge 

How It Works 

• Consensus: SPoA 
• Validators: 40 trusted partners called WONDERS 
• Performance: 1-second block time, ~4,000 TPS 
• Compatibility: EVM support for developers 

Governance 

• Phase 1: Managed by 40 WONDERS (NCP) with reward distribution 
• Phase 2: Competitive staking & delegation 
• Phase 3: Community-focused PoS-like model 

Roadmap 

• Expand gaming ecosystem (via WEMIX PLAY) 
• Develop DeFi services (WEMIX.Fi) 
• Increase global usage of WEMIX$ stablecoin 
• Prepare for WEMIX4.0 with democratic governance 
• Regulatory compliance and global expansion 

Key 2025 Milestones 

• Legend of YMIR (Q4 2025): Global MMORPG launch with G-WEMIX token rewards 
• WEMIX PLAY Mission System (2025): In-game tasks with NFT rewards 
• Phase 2 Buyback (2025): 20M WEMIX token buyback for supply stabilization 
• ROM: Golden Age Expansion (Q4 2025): Expanding blockchain gaming economy, CROM/CRYSTAL staking 

What is WEMIX Coin?

• WEMIX is the native token of the WEMIX ecosystem, used for transactions and fees. 
• 2022 ‘Brioche’ hard fork changed tokenomics: 
• Maximum supply capped at 590M WEMIX 
• Block Minting Halving (PMR) reduces minting per block 
• First halving lowered annual minting from 31.5M to ~15M WEMIX 

Founded in 2018 by WEMADE TREE (now Wemix PTE. LTD.), WEMIX launched MIR4 in 2021, reaching 1.4M concurrent users and 20M registered users from 170 countries within four months. WEMIX3.0 went live in 2022, establishing WEMIX Coin as a core blockchain token. 

Token Info & Distribution 

• Token: WEMIX 
• Max Supply: 590M 
• Circulating Supply: 456.44M (~69%) 
• Non-Circulating: 31% 
• Block Minting: 35% 
• Internally Owned: 21% 
• Development Costs: 22% 
• Ecosystem Development: 22% 

Use Cases 

• In-game transactions 
• NFT trading 
• DeFi products 
• Governance & staking 
• Network fees 

Ecosystem Components 

• WEMIX PLAY: Global gaming & P&E platform 
• NILE: DAO & NFT community platform 
• WEMIX.Fi: Swap, staking, lending/borrowing services 
• WEMIX$: USDC-backed stablecoin 
• WEMIX Wallet: User-friendly, non-custodial wallet 
• WEMIX Explorer: Blockchain analytics 

Key Features 

• Strong gaming background (WEMADE & MIR4 success) 
• EVM compatibility & high TPS (4,000 TPS, 1-sec blocks) 
• USDC-backed stablecoin (WEMIX$) 
• Expanding gaming, DeFi, and NFT ecosystem 
• Decentralized governance with 40 WONDERS council 

Official Links 

• Website
• Twitter
• Telegram

Also, you can freely share your thoughts and comments about the topic in the comment section. Additionally, please follow us on our Telegram, YouTube and Twitter channels for the latest news and updates.

The post What is WEMIX (WEMIX)? appeared first on Coin Engineer.

What is Mythos (MYTH)? What Does It Aim to Achieve?

Mythos redefines Web3 gaming by leveraging Polkadot’s scalable and secure infrastructure, offering players true ownership through NFT trading, low-cost transactions, and cross-game asset portability. With launches like Pudgy Party and FIFA Rivals in 2025, Mythos continues to grow as a leader in the Web3 gaming ecosystem.

Mythos transforms the gaming industry using blockchain technology, giving players, developers, and publishers greater control and value. The MYTH token powers in-game purchases, NFT trading, and gas fees while enabling users to participate in ecosystem governance. The Mythos Chain, built on Polkadot’s parachain technology, has processed over 21 million transactions in 2025. The Mythical Marketplace stands out by allowing players to securely manage and transfer digital assets across games.

Mythos Chain and Games

The Mythos Chain, built on Polkadot’s parachain technology, provides high scalability, low transaction fees, and interoperability between games. Key games include:

• NFL Rivals: An NFL-licensed game allowing players to manage digital player cards as NFTs, with over 4 million players.

• Pudgy Party: A mobile party game launched in 2025, integrated with Pudgy Penguins NFTs.

• FIFA Rivals: A football-themed Web3 game launched in summer 2025.

These games reflect Mythos’ vision of blending traditional gaming with blockchain technology. The Mythical Marketplace enables seamless trading of NFTs and digital assets across these titles.

Mythos (MYTH) Tokenomics

MYTH is an ERC-20 token with a fixed supply of 1 billion, serving as the ecosystem’s primary utility token. A gas fee burning mechanism, activated in March 2025, burns 100% of transaction fees, targeting a 6-8% annual supply reduction to create a deflationary structure. The MYTH token is used for:

• Payments for in-game purchases and NFT trading.

• Governance participation through the Mythos DAO.

• Staking for passive income and contributing to network security.

Token Distribution

The MYTH token distribution is as follows:

• Mythos Foundation: 35% (unlocked tokens)

• Launch Partners: 34% (3-year vesting)

• Mythical Employees and Advisors: 16% (3-year vesting)

• Game Fund: 15% (3-year vesting)

Tokens are released gradually over 36 months with a 1-year lockup period, encouraging long-term commitment.

Staking and Governance

MYTH token holders can stake their tokens to contribute to network security and earn rewards. The Delegated Proof of Stake (DPoS) system offers voting power and reward potential based on token holdings. The Mythos DAO allows token holders to vote on proposals, shaping the ecosystem’s future. In 2025, a 50 million MYTH incentive pool was allocated for staking rewards.

Mythos (MYTH) Partners

Mythos collaborates with leading companies like Ubisoft, Marblex, Com2uS, CM Games, Kakao Games, Wemix, Animoca Brands, Hadean, Klaytn, FaZe Clan, Gen.G, and Yield Guild Games to strengthen its gaming and Web3 ecosystem. These partnerships enable Mythos to develop AAA games and decentralized financial systems.

Mythos Advisors

The Mythos Foundation works with expert advisors in gaming, Web3, sports, and entertainment:

• Rehito Hatoyama: Former COO of Sanrio

• Jaci Hays: Chief Corporate Alliance Officer at FaZe Clan

• Alex Pall and Drew Taggart: The Chainsmokers & MANTIS VC

• Ryan Tedder: OneRepublic

• Adam Bain: Partner at 01 Advisors, Former COO of Twitter

• Matthew Rutler: EVP, Talent & Business Development at Masterclass

• Alex Scheiner: Partner at Redbird Capital, Former President of the Cleveland Browns

• Kent Wakeford: Co-Founder of Gen.G Esports and Rally Network, Former COO of Kabam

Official Links

• Website
• X (Twitter)

You can present your own thoughts as comments about the topic. Moreover, you can follow us on Telegram and YouTube channels for this kind of news.

The post What Is Mythos (MYTH)? appeared first on Coin Engineer.

Wemix CEO Denies Cover-Up Allegations on Hack

Wemix Foundation CEO Kim Seok-hwan stated that there was no intention to conceal the attack on the platform’s bridge system, which resulted in over $6 million in losses. Despite criticism over the four-day delay in announcing the breach, Kim argued that it was not an attempt to cover up the incident.

Reason for the Delay: Preventing Further Attacks

On February 28, Wemix’s Play Bridge Vault, a platform facilitating transfers between blockchain networks, was targeted by malicious actors. The attackers stole 8.6 million WEMIX tokens and sold them on major exchanges. However, the company only made the official announcement four days later.

According to CEO Kim, the delay in the announcement was to prevent further attacks and avoid panic selling in the market. Kim emphasized that releasing an early announcement before fully understanding the attack method could have led to more vulnerabilities for the company.

Details of the Attack: Stolen Authentication Key and Long Preparation

The company revealed that the hacker gained access by stealing the authentication key for Wemix’s Nile NFT platform’s service monitoring system. The attacker spent two months planning the attack and then initiated abnormal transactions.

The hacker attempted to withdraw funds 15 times, succeeding in 13 attempts, stealing 8.6 million WEMIX tokens, which were sold on exchanges outside South Korea.

Kim stated that as soon as they became aware of the hack, they shut down their systems and began an in-depth analysis. The company also filed a formal complaint with the Cyber Crimes Division of the Seoul National Police, and the investigation has started.

Investor Concerns and Market Reaction

Kim Seok-hwan took responsibility for the delay in the announcement and apologized to Wemix investors, saying that if any mistake was made, he should be held accountable. He emphasized that the decision to manage the situation was his.

Despite the delay, the market’s sharp decline could not be prevented. After the hack, the WEMIX token’s price fell by 39%, from $0.70 to $0.42. Currently, the asset is trading at $0.58, still 17% lower than before the attack.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Wemix Denies Allegations of Concealing $6.2M Hack appeared first on Coin Engineer.

You might like: Binance Launchpool: What is Pixels (PIXEL)?

The focus of the review is unjust profit claims related to evasion of regulatory requirements. According to the local news source Munhwa, Wemade is suspected of evading regulations of virtual asset service providers that are required to register with authorities.

South Korean regulations require crypto service platforms to record and report their activities, but there are exceptions for platforms that do not provide users with private keys, enabling control over the asset. Originally gaining prominence as a game developer, Wemade later ventured to create its own token (WEMIX) and blockchain Mainnet, and therefore argues that it is not obligated to comply with these reporting requirements.

South Korea Web3 Giant

Prosecutors are investigating whether the decentralized exchanges PNIX and digital asset storage system Play Wallet affiliated with Wemade comply with regulatory standards. In particular, investigators are trying to determine whether PNIX and Play Wallet services are dodging reporting obligations required for platforms that do not provide users with private keys, according to Munhwa.

Adding another layer to the review, the Financial Intelligence Unit, the local financial sector’s regulator, has also reportedly received similar complaints and initiated an independent investigation on Wemade, as reported by Munhwa.

In response to these allegations, Wemade’s WEMIX team published an official announcement stating that PNIX DEX and Play Wallet services are not subject to compliance requirements. The statement clarified that Play Wallet is run as a decentralized service that does not enable the team to control users’ private keys or assets. Also, the team emphasized that PNIX operates as a decentralized trading platform that only processes trading orders and assets are stored in smart contracts outside of the operator’s reach.

However, despite these claims, the statement did not clearly indicate whether or not these two services provide users with private keys, leaving question marks in the ongoing invvestigation.

This evolving situation highlights the complex interaction between evolving Web3 technologies, regulatory frameworks, and the rising crypto landscape. As authorities scrutinize Wemade’s operations more closely, the outcome of the investigation will undoubtedly resonate in the crypto and gaming industries, shaping future regulatory dynamics and market sentiment.

The post South Korea Web3 Giant, Under Review! appeared first on Coin Engineer.

You might like: Latest Situation in Bitcoin and Cryptocurrencies! – December 27

Some Korean government officials currently disclose their assets through the official gazette or ministry websites, but as of 2024, at least 5,800 officials’ declarations will be accessible through the Public Servants Ethics System.

In addition, starting in June 2024, major crypto exchanges (Upbit, Bithumb, Coinone, Korbit, and Gopax) will increase transparency by simplifying the recording of their assets with information provision systems. These systems will allow both government officials and exchange users to manage their crypto assets more securely.

This step was taken following the revelation of the crypto assets of Kim Nam-kuk, a member of the Democratic Party, in Wemix (WEMIX) tokens, and concerns about conflicts of interest.

In November, the Democratic Party of Korea passed legal regulations that require candidates to disclose their digital assets. South Korea is moving towards its goal of increasing transparency in the crypto world.

Also, you can freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post South Korea to Make Crypto Asset Disclosure Mandatory in 2024! appeared first on Coin Engineer.