WEMIX, a blockchain platform focused on gaming, has defied a stagnant crypto market and surged by 37% this week in anticipation of an upcoming hard fork and token burn.

The project, which describes itself as an “experience-based, platform-driven, and service-oriented mega-ecosystem”, boasts over 580,000 users on its blockchain game platform, WEMIX Play. At the time of writing, the project’s native token is trading at $1.37, up from $1.01 seven days ago.

WEMIX’s gains can be attributed to the anticipation of the “Brioche Hard Fork,” scheduled for July 1st, which will bring about significant changes to the project’s tokenomics. According to WEMIX, this milestone will introduce a revised minting rule aimed at reducing the issuance of WEMIX per block through 16 updates, with the goal of enhancing the value and growth of WEMIX. Additionally, an enhanced WEMIX PLAY will be unveiled, where ecosystem performance directly impacts tokenomics, ensuring that revenue growth driven by expanding games directly influences the WEMIX ecosystem.

The WEMIX foundation also plans to burn approximately 435 million WEMIX tokens held in reserve, with the aim of decreasing the available supply and transitioning WEMIX from a foundation-driven ecosystem to a community-driven one.

Despite the gains this week, WEMIX still remains more than 94% down from its all-time high of $24.71, which it hit back in November 2021, according to CoinGecko.

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