The Digital Economy and the Stablecoin: Wemix3.0 and Wemix$ - TOKEN2049 Singapore 2022

do we need a stable coin a stablecoin necessary for the digital economy to work then what characteristics does a stable coin need to have does your stable coin have to be stable after all today I want to talk about stablecoin the hardest Port arrow in the crypto scene right now the one who must not be named these days for the digital Economy based on blockchain and digital currents to grow stable coin is essential I'm here to tell you why and what characteristics a stablecoin needs to have of course I want to explain how we mix Darla will meet all the qualifications of stablecoin on remix 3.0 mainnet and I'll share our vision of how stable coin will be scalable and be the key currency in the digital blockchain economy hello my name is Henry Chang CEO we made I'm very honored to stand here with you at the center of a paradigm shift and share my vision and strategy on the digital blockchain Economy based on the stable coin in January of 2018 we made establish a small spin-up company with just two people to develop a blockchain and blockchain games eventually last year in August 2021 we finally launched the game Milford global beautiful Global is the most successful and most sustainable blockchain game game ever in the world this is the fact in less than a year more than 20 million users have joined and monthly active users exceeded 7 million with more than 1.4 million Peak concurrent users in game Revenue exceeded 160 million US Dollars and beautiful Global stayed at the top of the grossing chart in the Philippines Brazil Singapore even UK Sweden and Belgium as of now more than 2 million users are playing every month each Revenue touch at the bottom and it's rebounding again it's truly sustainable Global was a big hit in natural led to success of the game tokens and nfts and device Draco the token of Middleford Global was one of the most traded game token in the world last year and even now during crypto winter trade of Draco remains robust in the early 2022 when Middleford Global was at its peak we had a strange experience nobody could answer the question what's the price of Drake right now straight away game tokens including Draco are traded on umix decks remix Dex uses our native coin remix as a medium of Exchange since the price of a mix itself is volatile it was almost impossible to tell what's the price of Draco at a certain point of time you need a calculator to find our draco's worth in US dollar or Korean one we realized it was impossible to know the exact price and communicate intuitively from the basic tokens and nfts to the more complicated defy and this issue was not only about medical Global remix and blockchain gaming not only defy but for any economy to develop the economic activity within it must be intuitive if no one can answer this simple question how much is that nft could that economy spread and become active think about the situation saying it's 0.0135 either or 0.00867 Bitcoin when the prices of either and Eastern Bitcoin fluctuates is constantly these answers will just create chaos for almost everyone so we need a stable coin a blockchain economy without a stable coin can be no more than occurred in order to be used and survive in the mainstream services will need to need to have stable coins so what requirements does a stablecoin need to have what makes a stable coin successful I'll give you my answers first of all stable coins must be stable it's one of the topologies but since we've seen stable coins that are not stable this is the first requirement I will call it stability but you might as well call it securely I mean safely safety not as insecurities Securities is another the one who must not be named in our industry these days by the way what does it mean if you say a certain currency is stable is a U.

S dollars table is a Russian Ruble stable whatever Singapore dollar or Korean Won stability doesn't mean non-volatility just look at Fiat currencies every currency keeps block trading not just currency of developing countries but also currencies of developed countries in my opinion the essence of stability lies in these factors whether the currency is actually used it is holding up its value and you can get it worse if we have the currency so if a stable coin is packed to US dollar the issuer must hold the coins Awards in USD in reserve to declare that the coin is stable because only that it can be exchanged for U.S dollar in any cases if issues a stable coin exceeds the issued U.S dollar Reserve the stable coin cannot be exchanged for US dollar and it cannot keep up with the value it claims so the stable coin becomes unstable and it no longer is a stable coin this is true theoretically and we've seen it in the real world the past few months so the first requirement of a stable coin is it must be stable it must have the exact same amount of reserve for the fair currency it is packed too if not it should not be cold or stable coin in the first place regulations by many governments follow this logic but it's not just for the regulations it needs to be that way if the digital blockchain economy is to grow healthily and sustainably if the medium of exchange and unitable account is unstable the economy cannot function or grow sustainably let me start our own stable coin will be issued 100 percent reserved by usdc every remix dollar issued is matched exactly to each usdc if there are 100 million umix downloads issued out there it means exactly 100 million usdc are reserved 100 million usdc is exactly 100 million US dollar so 100 million ux dollar means 100 million US dollar reserved it means you don't need to trust a remade or remix platforms anybody can check anytime the quantity of issued remix dollar and resolve the usdc on chain and those two statistics will always match block by block this is why we chose the usdc 100 Reserve model you don't need to true you don't need to trust to email the word remix to check out mixtology Reserve it's a trustless stable coins must be stable this is the first requirement stands through 100 usdc resorb but this doesn't mean that this is a sufficient requirement for a successful stablecoin one floor lab when we announced to 100 usd's original policy a few months ago some community and media reacted why don't you just use usdc instead of 100 usdc reserved mixed dollar they are not 100 wrong to contribute to the enhancement of the remix ecosystem we mix dollar has to meet another requirement a digital blockchain economy has its own native coin that represents the economy and ecosystem for remix 3.0 we mix is the native coin and ux dollar is the stablecoin on remix 3.0 though we mixed dialog will be used as a key currency in every trade the native coin image has been the unit of account and medium of exchange but now the image download will be used then it's only natural to ask what will happen to remix the native coin as a second requirement of a successful stable coin I want to pick stable native reflexivity when a stable coin is doing well it should affect the native coin the native coin must be able to capture the demand and trade of stablecoin thus the reflexible relationship between stablecoin and Native coin must be structured when the demand for remix dollar increases the value of a mixture device it would lead to the expansion of the remix ecosystem which will increase the demand for we mix dollar when the volume of trade using remix dollar increases it will bring up the mixed value that in turn will expand the remix ecosystem and it will increase the volume of trading trade using mixed dollar this reflexive mechanism must be secured so success and growth of the stable stable coin can lead to the success and growth of the Native coin so I think stable native reflexivity is the second requirement of a successful stablecoin a portion of every fee generated by umix Dollar trade and you mix dialog based trade will be allocated to the remix holder community specifically we plan to create a staking program and continue to distribute a certain portion of the remix dollar fees created remix ecosystem to the staking program the increase in mixed dollar trading volume due to the expansion of the remix ecosystem leads to an increase in value for image holders depending on how qualitative and quantitative the remix ecosystem grows the benefits for umix holders will increase and the value of remix will increase accordingly the trade volume of stablecoin will truly reflect the size of healthiness of ecosystem and it will determine the value of the Native coin that is how an integral economic system will be built our blockchain scene can no longer grow weed on reliable Vision illusion fiction rumor and fantasy a stable growth based on the reality and pricing of digital currency which reflects the fundamentals are needed the creation of the digital blockchain economy will be possible only through healthy stable coin and healthy stable coin must be stable while structuring a reflexible relationship with Native coins in terms of structure I think the two conditions that I mentioned earlier make a good stable coin but for the ecosystem to grow even more the size of the stable coin must grow accordingly therefore I want to point out the scalability is a salt condition if we can only raise 100 million dollars in reserve the issuance of a stable coin is also limited to 100 million dollars if the system is only designed like this the ecosystem won't be able to grow because the supply of money can keep up with the scale of the ecosystem if the economy runs well with 100 million US Dollars the stable coin worth 100 million 100 million dollars would be enough but if the economy needs one billion dollars then we also need a stable Queen worth one billion dollars to solve this problem we created dios dios a protocol for issuing and burning the stable coin I told you earlier that stable coins must be stable but the word stable here doesn't mean that the price should be fixed at one dollar or rather the value must be secure enough to be exchanged for one dollar so this condition is based on a fixed exchange rate but on a 100 percent U.

S dollar result method in the case of remix dollar it's on 100 usdc result method in other words the price that we mix dollar will be determined by the demand and supply of we mix dollar just like other products of course since it's a stable coin the fluctuation may be smaller compared to Native coins but nevertheless the change in price due to demand and surprise inevitable then when will the price of mixed dollar increase when will people want to buy a mimic starter for more than one dollar for example a good device service that uses a mixed data or the demand for tokens and nfts used in some blockchain games on the mix chain may increase the demand of we installer anyway the increase in demand of a mixed dollar will expand the mixed ecosystem and if it's naturally determined by the demands and Supply in the market we can say that the demand that we mix dollar that reflects the ecosystem exceeds the supply of we mix dollar currently issuing additional mixed Dollar by leveraging excess demand is the key to the dios protocol let me give you one example for some reason the utility of we mixed Dollar in the ecosystem increased and the demand for imix data also increased in this case the mixed dialogue will be traded at more than one dollar technically for example the price that we mixed dialogue will become 1.4 1.1 usdc in the remix dialogue usdc super not one usdc then the deals protocol activates and issues one additional remix dollar exchange it for for 1.1 usdc index and puts one usdc in the reserve to match the quantity of usdc in reserve and rickstarler and he puts the suppressor with 0.1 usdc back in resolved and issues additional 0.

1 mixed dollar did you follow everything I said this issued an additional 1.1 emix dollar and the mixed ecosystem grew at the same amount usdc Reserve also increased by 1.1 just like the remix dollar so stability didn't change even the slightest bit the increase in demand for mixed dollar from the expansion of the remix ecosystem will also increase the issuance of a mixed dollar this natural mechanism will allow us to issue additional mixed dollar appropriate to the size of the ecosystem without additional dollars input in short it's scaled up if the ecosystem increases and the demand for remix dollar increases the issuance of MX data also increases this allows the ecosystem to grow sustainably and this is essentially different from the growth of imaginary numbers fluctuates decision so we mix dollar according to the economy of ecosystem thus making mixed dollar sustainably scalable the ecosystem will grow appropriate to the size of the economy do you remember the second requirement of the stable coins yes that's stable native reflexivity I said this successor and growth of a stable coin must be connected to the native coin I said a few minutes ago that I would give the remix holder Community a certain share of the mixed style of fee and in order to do this we will learn a staking program this taking program is called deal staking many of you may have noticed from the name and that's right the sub Pro Shop we mixed dollar that this deals protocol creates will be given as taking reward in the example above when the remix dollar worth 1.1 usdc there were just a surprise of 0.0 mix dollar this surplus of winning Star Law will be the basic reward of the deal staking basically as the remix ecosystem grows the demand of a mixed dollar will also grow thus issuing additional mixed dollar to keep up with the demand that the protocol creates during the whole process will be given to the remix holder community Through the deal staking in order for the digital blockchain economy to operate and become successful stable coins are essential and three requirements are needed to create a successful stable coin with share stability stable native reflectivity and scalability and I showed how to mix download will satisfy these three requirements Remix download will be successful and I'm sure of it it will also become a dominant stable coin along with usdc we will leverage the success of the mixed dollar and expand the stable coin horizontally remix Euro we mix one we make Singapore dollar and others will follow this will become a stable coin that perfectly corresponds to the stable crane regulations by the financial authorities in the developed countries if I meet the president of El Salvador I recommend him making El Salvador coin and an El Salvador stablecoin just like how gold can can't be used right away for payment using Bitcoin as your payment method is completely nonsense this surprise to other ladybug coins as well good stable coins are bound to become the key currency I think I've told you everything I have to say I changed the topic of my speech multiple times because there's been so many changes in the market in the blockchain scene and in mix recently but the fact that valuable and sustainable things eventually succeed we developed in mix 3.

0 with this in mind and made every effort to develop a stable Queen mixed dollar that is necessary for the digital blockchain economy will become a new history of stable coin and that history will be the Cornerstone of the digital blockchain economy I wish you all the best of luck and I wish we would all survive and meet again next year thank you very much