MYX Network — an ERC20 deflationary and betting token that will be the primary digital asset for the MYX protocol ecosystem, including the digital ad network, Investor DAO and social network.
Contents:
Description of the MYX Network project
Each transaction burns tokens, and if you bet, you earn half of what is burned in proportion to what you bet. DeFi, which is a shorthand for decentralized finance, means that traditional financial mechanisms have been recreated in a decentralized format. These decentralized structures are out of the reach of companies and governments.
The DAO makes MYX Network a decentralized organization. It gives all participants a voice and incentives to exercise these voting rights. These votes help to unlock funds, determine the direction of a project or propose changes to the current structure. The investment aspect of DAO allows users to determine which projects the organization will invest in and how much of these funds should be invested. The goal of the project is for MYX to be used as a digital asset and accepted as a form of payment for cryptocurrency.
Other features:
| Each transaction to the address reduces the total token supply by 5%. | |
| Secondly | When you place a bet, half of the burned tokens go to you in proportion to the number of tokens you have bet. |
| Thirdly | The decentralized autonomous organization will provide token holders with the opportunity to vote on the direction of the project and receive incentives. |
MYX focuses on encouraging token holders to participate in the DAO through bidding and other vital functions. Each token transfer adds funds to the DAO, which go proportionally to involved funds.
Tokenomics of MYXNetwork
1 billion tokens will be the maximum supply. No more tokens were created, they are only burned. 100 million tokens will be the total supply at the end of the deflationary stage. Each token transaction leads to a 5% burn. These tokens are removed from circulating and total supply. When any user places a bet, 2.5% of 5% of the burned tokens are transferring as a reward, proportionally to each user, depending on their stake.
MYX DAO
Users are eligible for DAO awards. This incentive system promotes bidding, reduces the circulation of tokens and rewards users for their participation. Token holders will be able to vote with MYX on important achievements and platform advancements. Decentralized voting will be vital to the overall health of the community and platform. MYX DAO will also act as an investment fund for external projects. This means that MYX can help you with initial project launches.
Additional information
The site has White Paper and RoadMap. With their help, you can learn more about the project and the upcoming updates. Subscribe to social networks to find out about all news.
The smart contract doesn’t have an audit.