FAQ

What is WEMIX.e?

WEMIX.e refers to the WEMIX coin transferred to the Kroma blockchain network. WEMIX.e is generated when users deposit WEMIX from the WEMIX3.0 blockchain network to the Kroma network, and when they withdraw WEMIX.e back to the WEMIX3.0 network from Kroma, the corresponding WEMIX.e tokens are burned.

What can you do with WEMIX.e?

You can exchange WEMIX.e for stWEMIX.e to earn Liquid Staking interest. stWEMIX.e holders may also be eligible for additional KRO airdrop opportunities. In addition to Liquid Staking, more utilities for WEMIX.e are planned to be added.

Why is some WEMIX converted to 0.000002 ETH when depositing WEMIX?

Kroma is an Ethereum Layer 2 blockchain network and uses Ethereum (ETH) as gas fees. Even if WEMIX3.0 users deposit WEMIX to mint WEMIX.e, they cannot initiate network transactions if they don't have Ethereum to use for gas fees. To enhance user convenience and allow users to operate on the Kroma network without the inconvenience of bridging ETH from Ethereum to Kroma, some of the WEMIX is converted to ETH and paid alongside WEMIX.e during the deposit process.

Why does it take 7 days to withdraw WEMIX.e from Kroma to WEMIX3.0?

When users deposit WEMIX from WEMIX3.0 to Kroma, the deposited WEMIX is staked in WONDER Staking. When a user requests to withdraw WEMIX.e tokens from the Kroma network, it takes approximately 7 days to unstake the corresponding amount of WEMIX.

What is stWEMIX.e?

stWEMIX.e represents Liquid Staking of WEMIX.e. The WEMIX coins deposited by users are staked in WONDER Staking, generating staking interest, which serves as a source of value for stWEMIX.e. Initially, all the interest generated in WONDER Staking is utilized to increase the value of stWEMIX.e. The distribution rate of WONDER Staking earnings may change in the future.

What is Liquid Staking?

Traditional staking services often lock up assets for an extended period, restricting their withdrawal or movement. Liquid Staking addresses this liquidity issue by allowing assets deposited in Liquid Staking to be exchanged for newly created ERC-20 tokens (such as stWEMIX.e for WEMIX on Kroma) equivalent to the value of the deposited assets. These exchanged tokens can then be freely used by users for transfers, swaps, and other actions, following the ERC-20 standard.

What can you do with stWEMIX.e?

The exchange rate of stWEMIX.e to WEMIX.e increases continuously over time. The interest earnings obtained by the Kroma Foundation through WONDER Staking are used to mint WEMIX.e on the Kroma network in proportion to those earnings. These generated WEMIX.e tokens are then used as assets to increase the value of stWEMIX.e according to a set ratio (initially 100%). In addition to the value increase of stWEMIX.e, stWEMIX.e holders also receive WEMIX Community Points based on the duration of their holdings. More utilities for stWEMIX.e are planned to be introduced in the future.

Do you need to wait for a specific period to exchange stWEMIX.e for WEMIX.e?

You can exchange stWEMIX.e for WEMIX.e on the Kroma network at any time. However, there is a 0.3% exchange fee to prevent abuse.

What are WEMIX Community Points?

Transactions contributing to the activation of WEMIX.e and stWEMIX.e receive WEMIX Community Points according to specific criteria. Accumulated WEMIX Community Points can be exchanged for KRO tokens in the future. The exact exchange rate will be announced later.