WEMIX Unveils WEMIX Kanvas

EVM-Equivalent ZK Rollup
Leading blockchain-based ecosystem developer WEMIX today unveiled WEMIX Kanvas, its
next-gen Ethereum Layer 2 based on EVM-Equivalent ZK Rollup - and a key component of
the mega blockchain ecosystem which WEMIX is committed to building.

WEMIX Kanvas Project Timeline

"As a global leader with great success in blockchain gaming, WEMIX had launched our own
mainnet to create a bigger ecosystem, not just in the blockchain gaming sector," said Shane
Kim, CEO of WEMIX PTE., LTD. "WEMIX Kanvas will expand WEMIX
to Ethereum which has the world's largest blockchain ecosystem, and help contribute to
solving Ethereum's scaling issue."

Starting from Q1 2023, WEMIX Kanvas will deploy using a two-phase process beginning
with an Optimistic Rollup with ZK Fault Proof before evolving to the EVM-Equivalent ZK
Rollup. The Testnet of WEMIX Kanvas will first launch using Optimistic Rollup, one of the
two major methods with proven utility before further improvement by incorporating zkEVM
Fault Proof in the Optimistic Rollup phase. This lays the groundwork to bypass the
limitations and technical difficulties inherent in universal purpose ZK Rollups in their current
state, for a seamless completion of phase one.

Following this, WEMIX Kanvas will fully transition to EVM-equivalent ZK Rollup to pursue
the twin goals of EVM compatibility & fast finality. WEMIX Kanvas will be EVM-
equivalent in phase two, enabling near effortless onboarding and migration of other dApps.
The speed of withdrawals will also become much faster compared with an Optimistic Rollup,
from as long as 7 days to just 60 minutes.

WEMIX Kanvas will offer:

Lower Transaction Fees

 WEMIX Kanvas uses the Rollup method to compress transactions and

post them to L1, thereby lowering transaction fees

○ Therefore, dApps which previously had difficulty using

the Ethereum blockchain due to high gas fees can participate in
the Ethereum ecosystem utilizing WEMIX Kanvas

Faster Withdrawals from Ethereum

  In the existing Optimistic Rollup, due to late finality, users' withdrawals
from L1 were delayed for up to one week
 WEMIX Kanvas uses zkEVM for ZK Rollup to ensure fast finality with
fast proof generation, solving the problems of slow withdrawals

Seamless Onboarding for Developers

 WEMIX Kanvas, from the beginning, is designed as a hybrid system

which combines the advantages of Optimistic and ZK rollup, ensuring
easy onboarding for new dApps
 dApps which previously were on the Ethereum blockchain can be
directly onboarded to WEMIX Kanvas without major code updates
 When the EVM-Equivalent ZK Rollup is reached, finality can be drawn
up within a few hours and withdrawal can be done quickly

Interconnectedness with the WEMIX mega-ecosystem

WEMIX Kanvas is designed to enhance the interconnectivity of L2 with the broader WEMIX
ecosystem in the following ways:

 Being the bridge that connects all the components of the mega
ecosystem, WEMIX coin will be the governance coin of both WEMIX
Kanvas and WEMIX 3.0
 This means that dApps on WEMIX 3.0 and services that have been
successfully running on WEMIX like KLEVA, and those under
development (Kurrency, Konverter and WESHLIST) can easily migrate
and build interconnectivity with dApps that are already on WEMIX
Kanvas
 WEMIX coin will be more widely used and it all leads to expansion of
WEMIX ecosystem

WEMIX plans to deploy the project starting with the launch of the testnet for its Optimistic
Rollup with ZK Fault Proof in Q2 2023.