- stWEMIX is the Liquid Staking Token (LST) representing staked WEMIX (the WEMIX3.0 blockchain’s native coin)
- stWEMIX enables holders to participate in staking to earn rewards while also being able to buy, sell, or trade the token, leading to increased liquidity and flexibility
- This is expected to drive robust growth on WEMIX.Fi and throughout the entire WEMIX ecosystem
Singapore, 10th January 2024, ZEX PR WIRE, Leading global blockchain firm Wemade has introduced stWEMIX – the Liquid Staking Token (LST) representing staked WEMIX (the WEMIX3.0 blockchain’s native coin). stWEMIX made its worldwide debut on BitMart, the premier global digital asset trading platform with millions of users worldwide, ranked among the top crypto exchanges on CoinGecko; and in Korea on GOPAX, one of the country’s top five virtual asset exchanges.
Advantages and Utilization
stWEMIX enables holders to participate in staking to earn rewards while also being able to buy, sell, or trade the token. The increased liquidity and flexibility opens up a wide range of possibilities for users to maximize the utility of the asset and potentially earn additional yield alongside the staking rewards.
stWEMIX can be issued by depositing WEMIX in Liquid Staking or from being traded through Swap on WEMIX.Fi, the first official DeFi platform built on the WEMIX3.0 blockchain. These can then be utilized as collateral for DeFi protocols, including depositing stWEMIX through Lend & Borrow on WEMIX.Fi to earn rewards (loan interest), and depositing stWEMIX into Pools that ensure trading liquidity on WEMIX.Fi and earn rewards (transactions fees) occurring from Swaps.
Positive impact of stWEMIX on the WEMIX ecosystem
As the native token used across various DeFi services within the WEMIX ecosystem, stWEMIX empowers users with a long-term perspective to actively participate by simply holding it, fostering proactive engagement within the ecosystem.
One of the major benefits of stWEMIX and LSTs in general is its ability to unlock the inherent value of staked WEMIX. The native interoperability also means that stWEMIX can be utilized by a wide range of protocols across the WEMIX.Fi platform. The increasing usage of various protocols and the potential launch of new ones is expected to drive robust growth not just on WEMIX.Fi, but also throughout the entire WEMIX ecosystem as well.
For more details about stWEMIX and WEMIX.Fi, please refer to:
- Docs: https://docs.wemix.com/v/wemixfi-en/services/stwemix
- Whitepaper: https://docs.wemix.com/v/wemixfi-en/whitepapers/stwemix
- LIQUID Staking: https://wemix.fi/staking
- Swap: https://wemix.fi/swap
- Lend & Borrow: https://wemix.fi/market
- Pools: https://wemix.fi/pool
- BitMart stWEMIX listing announcement: https://bit.ly/47k7kvX
- GOPAX stWEMIX listing announcement: https://www.gopax.co.kr/notice/1583
About WEMADE
Renowned industry leader and innovator WEMADE is at the forefront of global Web3 transformation. Through Singapore-based subsidiary WEMIX, Wemade aims to accelerate the mass adoption of blockchain technology by building an experience-based, platform-driven, and service-oriented mega-ecosystem that offers a wide spectrum of intuitive, convenient, and easy-to-use Web3 services.
The WEMIX blockchain-based mega-ecosystem includes WEMIX, its native coin and bridge that connects all components of the WEMIX mega-ecosystem; WEMIX$, the native fully collateralized stablecoin for the WEMIX blockchain; Kroma a next-gen Ethereum Layer 2 based on EVM-Equivalent ZK Rollup; WEMIX PLAY, the world’s largest blockchain gaming platform; NILE (NFT Is Life Evolution), a DAO & NFT platform based on the WEMIX3.0 mainnet; Kurrency, a decentralized financial service designed to offer greater ease-of-use, transparency and reliability; the KLEVA protocol, decentralized exchanges and other DeFi services on multi-chains. www.wemade.com / www.wemix.com/communication
