Press Release
WEMIX3.0’s stWEMIX Liquid Staking Token Makes Worldwide Debut on BitMart and GOPAX
- 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
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
The world of lottery just got an upgrade and it is global, secure, and powered by the future of finance: Bitcoin.
In this article, we dive into the exciting world of Bitcoin Lottery which offers a seamless and transparent experience. We will break down what Bitcoin lotteries are, how they work, and what sets them apart from your conventional lottery system.
What is a Bitcoin Lottery?
Bitcoin lotteries work like traditional lotteries but with a modern digital spin. Instead of using fiat currency, participants use cryptocurrencies like Bitcoin.
Here’s how it works: you buy a lottery ticket with cryptocurrency, choose your numbers, and wait for the draw. If your numbers match the drawn numbers, you win a prize – paid out in Bitcoin or other chosen cryptocurrencies.
What Makes Bitcoin Lottery Games Stand Out?
Here are the features that make Bitcoin lottery games a top choice for players.
- Transparency and Fairness: One of the biggest advantages of the Bitcoin lottery is the use of blockchain technology. Blockchain ensures that every transaction and draw is recorded on a decentralized ledger that’s accessible to all players. This transparency eliminates worries about rigged results as players can verify each draw independently.
- Security: Using cryptographic algorithms, Bitcoin lottery games offer extra security. The decentralized nature of blockchain means malicious actors can’t manipulate the results of the draws.
- Global Accessibility: Unlike traditional lotteries which are limited by geographical boundaries, crypto lotteries are accessible from anywhere in the world. As long as you have an internet connection and a digital wallet, you can play. This global reach increases the player base and potentially the prize pool.
Regular Lotteries vs. Bitcoin Lotteries: A Comparison
1. The most obvious distinction is the utilized currency. Ordinary lotteries utilize fiat currency like dollars or euros, whereas a Bitcoin lottery uses Bitcoin or other cryptocurrencies.
2. Transactions in Bitcoin lotteries are faster and may have lower fees than buying traditional lottery tickets. This is so because Bitcoin transactions eliminate intermediaries like banks, therefore lowering the delays and expenses related to bank fees and currency exchanges.
3. Prizes in Bitcoin lotteries are in BTC or other cryptocurrencies which can be attractive because of the potential for value growth. Certain Bitcoin lotteries also provide quick payouts, hence improving the convenience for the winners.
4. Bitcoin lotteries usually employ “provably fair” algorithms. Unlike other lotteries, this system lets players use cryptographic techniques to confirm the fairness of the draw outcomes.
Why should one try a Bitcoin Lottery?
Apart from the thrill of maybe winning large, crypto lotteries provide several special benefits:
• Safe and open: You can verify every single draw and transaction.
• There are no geographical restrictions; play wherever on the planet.
• Cut expenses by means of lower transaction fees.
• Instant Payouts: Get your winnings easily and quickly.
Bottom Line
With improved security, transparency, and worldwide accessibility, a Bitcoin lottery presents a fascinating and creative variation of the classic lottery.
These lotteries are a reliable choice for gamers all around as they guarantee fair and clear results by integrating blockchain technology. Regardless of your experience level, Bitcoin lottery games provide a modern way to try your luck and potentially win big.
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