Alright, this is one I’m really excited about; if you ever felt bad paying those Uniswap transaction fees, then you should be excited about this one as well. Don’t stay Mute, Use your voice! Yeah, that’s my new and favorite slogan.
Every dip is an opportunity to increase your position, or diversify. Well, that’s not financial advice; just a personal culture that has proved effective! After some weeks of impressive runs, the corrections set in. Elon musk, Vitalik Buterin or the Chinese government? With series events occurring simultaneously, it’s hard to say for certain what caused the correction. But that’s something to think about later!
It’s dip time and yeah, I’ve got some USDT laying around. Best time to shop? Your answer is as good as mine! With tons of impressive projects growing in the crypto space every day, making choices as an investor could get really hard…for me. This time was no different!
I ‘fortunately’ stumbled upon MUTE. Mute is building an impressive decentralized exchange solution on ethereum’s sleek Layer-2 . Love at first sight? Not really, I always do my own research!
MUTE is leveraging the ZK-Rollup protocol to build a robust decentralized cryptocurrency exchange offering cheap and seamless cryptocurrency swap service. Governed by a DAO system, MUTE’s decentralized solutions are being built on a decentralized community.
Had to put my money on this one! Unfortunately; paying the Uniswap fees was inevitable this time as MUTE’s much anticipated SWITCH is yet to launch. MUTE’s achievements and roadmap were impressive enough to convince me, but what about you? Should you invest in mute too?
Well; if you’re an investor who is fascinated by new and better solutions, then this is one to take a look at. WHY? Let me answer that…
MUTE is revolutionizing DEFI
Decentralized finance (DeFi) projects have set the crypto space ablaze. Dating from the second quarter of 2020 and over the past couple of months, DeFi has been the trending concept in the cryptosphere. DeFi projects are expanding the scope of financial systems, shifting the paradigm from ‘portable means’ of payments to smart contract applications running independently on a parent blockchain and offering advanced financial services such as exchange, insurance, lending, wealth management and an array of other financial management activities. It achieves this using blockchain resources and exhibits desired blockchain features such immutability, security, privacy, speed and interoperability.
Ethereum as well as other Defi-compatible blockchain have welcomed a good number of decentralized exchanges and Automated Market Making (AMM) protocols. Ethereum blockchain once again takes the lead, presenting well crafted decentralized exchanges. Unfortunately, it didn’t take much time before it ran into a popular problem – high fees and low throughput.
At its peak, you’ll have to pay over a hundred dollars (100$) to swap tokens on Uniswap. For the mere sake of convenience, investors are forced to pay these fees as no relative alternatives exist. While, DeFi and DEXes are clever innovations, high transaction fees and low throughput are unsavory.
MUTE is launching its decentralized exchange – MUTE SWITCH. Mute Switch is powered by ZK-Rollup, it utilizes this protocol to build a highly efficient and cheap decentralized exchange on ethereum’s Layer-2. Mute Switch features a personalized decentralized exchange platform with enhanced user privacy and security. Building on Layer-2 takes the bulk of Mute Switch’s transactions off ethereum’s congested mainnet (Layer-1), improves scalability and ensures high efficiency.
Mute Switch also features a secure personal wallet built on Layer-2. Mute’s layer-2 wallet enables relatively feeless transfer of funds, from Mute Switch to other ethereum addresses; with more developments coming up, this feature is poised to serve even more use! Mute Switch wallet’s enable efficient payments powered by ZK-Rollups and built on a more flexible blockchain layer.
Mute’s technology solves the biggest issues plaguing contemporary DeFi platforms and is evolving into a solution for ethereum blockchain as a whole.
A Decentralized community governance structure
Mute’s technologies are built on layer-2, but Mute itself is built on a decentralized community of enthusiastic members. Mute’s governance is vested on the community. VOICE token is the community governance token. Holders of the Voice token will be able to vote on proposals and influence the overall management of the Mute ecosystem and products.
Truly Community-governed projects aren’t a very popular concept in the crypto space anymore. Most early cryptocurrency projects practiced true communalism and exhibited fairness in participation opportunities, an important factor in the survival of early cryptocurrency communities. A couple of cryptocurrency projects throw the word ‘decentralized’ around their governance model, with the concept of DAOs and ‘community led’ projects springing up around new and existing projects.
Decentralization is usually presented as an administrative and technological strategy which shifts the power of decision making and decision to the majority and makes for a perfect consensus system of governance. These projects fail at this and what they term ‘decentralization’ is ‘pseudo-centralization’
Mute’s governance system perfects the decentralized autonomous organization (DAO) provisions and as well offers investors an avenue to stay in control of their investment. VOICE token gives you a voice, an unhampered and immutable voice. Token holders can easily visit the DAO portal and vote on project improvement proposals. ‘Put your money where your mouth is’… I already did!
A tokenized economy!
Mute ecosystem is powered by two native tokens; MUTE and VOICE token. The MUTE token is the ‘gas’ of the mute ecosystem while VOICE is its governance token. Mute token powers Mute’s economy and supports its ecosystem, funds community-approved proposals and grows with the Mute ecosystem.
Voice token governs the Mute ecosystem, holders are able to submit proposals and vote on proposals. It goes beyond the idea of a normal cryptocurrency currency and represents a powerful governance tool. A proposal is based or rejected based on its ability to earn a majority vote over a specified time.
MUTE token holders own a piece of Mute ecosystem’s economy; VOICE holders own a piece of Mute ecosystem’s government/management. Feeling pumped? You can own both!
Growth intensive and sustainable Tokenomics
Mute team is very passionate about their technology as well as the tokens which powers the governance and finance of the ecosystem. VOICE and MUTE tokenomics features a mutual growth strategy between Mute’s technologies, native tokens and the ecosystem as a whole.
Maximum supply of VOICE is 44,613 while a maximum of 44 million MUTE tokens will be minted. To contribute to the growth of its native token, Mute will inject 100% of the trading fees generated from its DEX into a token buy-back program. 70% of the generated fee will be used to buy-back MUTE tokens while 30% will be used to buy-back VOICE tokens from the market.
To incentivize liquidity providers staking their LP tokens, funds generated from layer-1 transactions of MUTE and VOICE tokens will be redistributed to liquidity pool stakers. Token holders are accorded certain privileges (such reduced transaction fees) relative to the number of tokens they hold.
Mute’s strategies also include an automated liquidity improvement scheme. To ensure a sustained and actively growing liquidity pool, a 1% fee is charged for removing liquidity pool tokens staked at the ‘dock’. This fee is automatically returned to the liquidity pool and permanently locked.
Mute is a pretty new project following the rebranding of the much older NIX platform. Sequel to this rebrand, Mute has set on its own growth path. With so much in stock for the future and an efficient team developing exciting solutions governed by an enthusiastic community, Mute is poised for parabolic growth. From my research Mute switch is actively in the works, here’s a Sneak peak
Impressive right? Of course, Layer-2 solutions are the next rave, Mute is positioned to lead the pack…my bags are packed too. Do your own research and join the revolution! And don’t forget to use your voice!
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