South Korea’s MIR4 Developer Launches Stablecoin - Wemade Co., Ltd., a blockchain video game developer based in South Korea, has launched its stablecoin - WEMIX.

    Wemade released 11 million WEMIX on Saturday, Oct 22. According to Wemade’s press release, its new stablecoin will be pegged to and fully backed by Circle’s USD Coin (USDC). To maintain the value of WEMIX at $1, Wemade has enabled the DIOS protocol that issues and burns WEMIX to keep the 1:1 ratio to USDC.

    “If WEMIX$ works successfully as planned, it will not only contribute to the growth of WEMIX’s mainnet ecosystem, but also become an important currency for blockchain transactions”, said Henry Chang, CEO of Wemade.

    Along with stablecoin, Wemade also launched WEMIX.Fi, a DeFi service that allows users to store, swap, and stake Wemade’s cryptocurrencies. On October 20, Wemade launched WEMIX 3.0, its newest blockchain network. Next is NILE (NFT Is Life Evolution), a platform for arts, sports, music and other communities that relies on decentralized autonomous organizations (DAOs) to create and manage NFTs.

    Wemade is one of Korea’s leading blockchain game developers with the popular MIR4, a triple-A NFT game based on MMORPG gameplay that reached over 1.3 million concurrent players last year.

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