Blockchain
WEMADE’s stablecoin WEMIX$ could be the driver of ecosystem growth
WEMIX Dollar (WEMIX$), a stablecoin issued by WEMADE, will be unveiled on October 22 with potential to expand the WEMIX ecosystem.
On October 20, WEMADE announced the launch of WEMIX$ scheduled for October 22. The WEMIX$ will be backed by USDC, a stablecoin issued by Circle. For every WEMIX$ issued, a dollar of USDC will be held in reserve. USDC can be characterized by its steady value as it is backed by actual dollars and WEMADE plans to maintain the value of WEMIX$ by pegging WEMIX$ to USDC.
Furthermore, WEMADE will activate the DIOS protocol to maintain the value of the WEMIX$ at $1. The DIOS protocol is for issuing and burning the stablecoin to keep the WEMIX/USDC ratio at 1:1.
Henry Chang, CEO of WEMADE, introduced the WEMIX$ and disclosed information about the DIOS protocol during his keynote speech at the blockchain conference TOKEN2049 held in Singapore on September 28. WEMADE’s stablecoin WEMIX$ is devised so that the issuance of the stablecoin increases in accordance with the growth of the WEMIX ecosystem. The DIOS protocol was designed to this end.
For example, if the value of WEMIX$ becomes higher than 1USDC, the DIOS protocol will automatically issue additional WEMIX$ to match its value with 1USDC. On another hand, when there is high demand for WEMIX$, increasing its price over $1, the DIOS protocol kicks in automatically to issue additional WEMIX$.
The newly issued dollar of WEMIX$ will be exchanged with 1.1USDC and 1USDC will be immediately put into the reserve. The plan is to return the reserve to WEMIX investors through the DIOS staking program.
Chang noted “WEMIX$ has all the requirements of a stablecoin” and emphasized that “If WEMIX$ operates successfully as planned, it will not only contribute to the growth of the mainnet ecosystem of WEMIX but also become a key currency for blockchain transactions.”
In addition to the issuance of WEMIX$, WEMADE will disclose the WEMIX DeFI service, WEMIX.Fi on October 22. WEMIX$ and WEMIX.Fi are expected to be the economic foundation of the WEMIX ecosystem.
SOURCE Wemade Co., Ltd
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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