WEMIX Classic related services will no longer be supported
Hello KLAYswap Community Members!
We would like to inform you that WEMIX Classic will no longer be supported on KLAYswap.
In order to finalize and stabilize oWEMIX as a single utility, the WEMIX Foundation has announced the gradual transition of WEMIX Classic assets (WEMIX) to WEMIX 3.0 Mainnet assets (oWEMIX). The WEMIX Converter feature has been available on KLAYswap since then.
There were approximately 3,200,000 WEMIX Classics in circulation when the WEMIX Converter feature was introduced, and there are approximately 1,300,000 WEMIX Classics that have not yet been converted to oWEMIX, meaning approximately 59% of WEMIX Classics have been converted.
The Wemix Foundation announced that WEMIX Classic deposit/withdrawal support will end when Klaytn’s distribution dominance switches to oWEMIX.
📌 WEMIX Dominance Token Transition Notice
As of now, oWEMIX is not close to the distribution advantage within the Klaytn network, but within KLAYswap, oWEMIX has the advantage as its conversion rate exceeds the majority.
Providing stable service use and preventing confusion for users, the WEMIX Classic Assets will no longer be supported on KLAYswap. Please refer to the information below.
✅ End Date
1. Nov 23, 2023 12:00 (KST)
- A grace period exists before the end of support for WEMIX Classic service. After that, no more single, V2 plus, or long/short position deposits will be available for WEMIX classic, only withdrawals will be accepted.
2. Dec 21, 2023 12:00 (KST)
- WEMIX Classic assets will no longer be supported after the date stated above.
* Service termination schedules can change depending on the situation of the WEMIX foundation, and you will be notified if so.
✅ End Range
1. WEMIX Single Deposit
- Deposit not allowed (Only withdraw will be available)
- By using the Converter function, users can converter WEMIX into oWEMIX and make single deposits as needed.
2. V2 Plus Deposit (KLAY+WEMIX, WEMIX+USDT)
- Deposit not allowed (Only withdraw will be available)
- By using the Converter function, users can use the oWEMIC V2 pair deposit or V3 pair deposit.
* It should be noted that automatic returns may occur when LTV exceeds 85%, which is caused by WEMIX withdrawals in the single pool ultimately raising depositor utilization ratios.
3. Long/Short Position Deposit
- Long/Short position unavailable (Positions can only be ended)
* It should be noted that automatic returns may occur when LTV exceeds 90%, which is caused by WEMIX withdrawals in the single pool ultimately raising depositor utilization ratios.
4. Token Level Change (A > C)
- Level of token classic level will be changed from A to C.
- V2 pair including WEMIX will be excluded from pool voting, and the WEMIX V2 pair pool voters have to personally retract their voting rights and move their voting rights to a valid oWEMIX pool (V2,V3)
- After the token level change, all WEMIX-related deposit products will be excluded from KSP distribution
- The adjusted token level will take effect starting Friday, November 24th.
Keep in mind that after the designated date, KLAYswap will no longer support WEMIX Classic (WEMIX), so Converter your assets accordingly.
You can use the converter function to Converter Wemix Classic (WEMIX) tokens on the Klaytn mainnet to Wemix (oWEMIX) tokens on the Wemix mainnet at a 1:1 ratio. After a certain time period, the converter function may no longer be available.
👉 Go Converter WEMIX Classic (WEMIX) > WEMIX 3.0 (oWEMIX)
Thank you.
[KLAYswap]
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