South Korean manufacturer MIR4 launches stablecoin

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Wemade Co., Ltd., a blockchain video game developer based in South Korea, recently launched its stablecoin, WEMIX.

Wemade released 11 million WEMIX on Saturday. According to Wemade's press release, the new stablecoin will be fixed and fully backed by USD Coin (USDC) of the Circle.

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To maintain the value of the stablecoin at US$1, Wemade has enabled the WEMIX issuance and burning DIOS protocol to keep the 1:1 ratio to USDC.

Henry Chang, Chief Executive Officer (CEO) of Wemade, said: “If WEMIX$ works as planned, it will not only contribute to the growth of the WEMIX mainnet ecosystem, but also become an important currency for blockchain transactions.”

Along with stablecoins, Wemade has launched WEMIX.Fi , a DeFi service that allows users to store, swap and stake Wemade cryptocurrencies. 

The developments will expand further, into October 20 Wemade debut WEMIX 3.0, its latest blockchain network.

Next is NILE (NFT Is Life Evolution), a platform for the arts, sports, music and other communities based on decentralized autonomous organizations (DAOs) to create and manage NFTs. 

Wemade is one of Korea's leading blockchain game developers, with MMORPG Mir4. can play and earn more 1,3 million players same time last year.

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