Wemade's PoET Program Puts Users and Builders in the Spotlight

Wemade’s PoET Program Puts Users and Builders in the Spotlight

Time Stamp: September 4, 2023 9:49 PM
Source Node: 2864714

South Korean blockchain developer Wemade has taken a groundbreaking step in the world of blockchain technology with the launch of the “Proof of Ecological Transaction” (PoET) program. This pioneering initiative marks the world’s first block minting rewards program that equally benefits both developers and users, fostering a more dynamic and sustainable blockchain ecosystem.

The PoET program, which stands for “Proof of Ecological Transaction,” is designed to incentivize and promote the growth and expansion of the WEMIX3.0 blockchain network.

Wemade recently partnered with Etherscan to create a block explorer for the WEMIX3.0 mainnet and the Kroma project. This collaboration seeks to improve transparency and decentralization, enabling users to access comprehensive transaction records.

The key highlight of this program is its commitment to distributing block rewards to both decentralized application (dApp) developers and users, bridging the traditional gap between these two vital components of the blockchain community.

One of the program’s innovative features is the allocation of the Eco Fund portion of the Permanent Minting Reward (PMR) generated on the WEMIX3.0 blockchain network back to participants. This strategic move aims to facilitate the creation of a thriving mega ecosystem, ensuring that the rewards generated from blockchain activities directly benefit those who contribute to its growth.

Participation in the PoET program is accessible to developers and users who actively engage with the WEMIX ecosystem and receive the coveted “Verified Ecological Transaction” (VET) certification mark. This certification is granted to transactions that interact with Verified Contracts and significantly contribute to the expansion and vitality of the ecosystem.

The PoET program further enhances its appeal by offering a maximum of 0.25 WEMIX tokens per block to users and contracts that originate from these valuable transactions. This democratized distribution approach aligns perfectly with the core objectives of the Eco Fund, which aims to effectively distribute rewards to users and builders who play pivotal roles in the network’s growth, while simultaneously discouraging attempts to manipulate block shares through bots and abuse.

By treating users and builders equally in the distribution of rewards, PoET lays the foundation for a sustainable and sound ecosystem development strategy. It fosters an environment where all participants are incentivized to contribute to the growth of the WEMIX3.0 ecosystem, thereby creating a self-sustaining flywheel of value growth.

This innovative approach to blockchain rewards not only promotes sustainable development but also enhances the overall stability of the WEMIX3.0 mainnet ecosystem. The introduction of PoET marks a significant milestone in the journey toward a more stable and sustainable blockchain ecosystem, where developers and users are equally recognized and rewarded for their contributions.

Wemade’s commitment to fostering a blockchain ecosystem that values and empowers its community members is evident in the PoET program. As the blockchain landscape continues to evolve, initiatives like PoET serve as a testament to the industry’s dedication to creating fair and inclusive ecosystems that benefit all participants.

The launch of PoET underscores Wemade’s dedication to pushing the boundaries of blockchain technology, setting a precedent for future initiatives in the blockchain space. As blockchain enthusiasts and developers around the world take note, the PoET program promises to usher in a new era of blockchain rewards that truly values the contributions of both builders and users.

Read Also: Wemade partners with Saudi’s Ministry of Investment to boost gaming and blockchain growth

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