What is Mute.io? Mute.io is a decentralized exchange (DEX) developed based on zkRollup technology, built on the Ethereum blockchain and zkSync. Mute includes AMM, Farm, Bond features. So what is Mute? How does it work? Let’s find out below in this article!
Some similar projects you can read:
- What is zkSync? Overview of zkSync cryptocurrency.
- What is Trader Joe’s (JOE)? Trader Joe’s cryptocurrency overview
- What is GammaX Exchange? Overview of GammaX Exchange cryptocurrency
What is Mute?
Overview of Mute
Mute’s predecessor is a blockchain project named NIX using the PoW mechanism applying zero-knowledge proof technology. Mute is a decentralized exchange (DEX) developed based on zkRollup technology, built on the Ethereum blockchain and zkSync. Mute aims to be a DeFi Hub providing liquidity to protocols on zkSync. Mute’s main products are Mute Switch, Farming and Bonds.
Mechanism of action
Mute will have some of the following features:
Mute Switch
Mute Switch is a DEX platform developed on zkSync and integrates limit order feature. Allows users to invest, trade, earn interest and participate in buying bonds. Take advantage of Ethereum’s high security without paying high gas fees.
Mute Switch will take liquidity from the following two types of pools:
- Stable Pool: Assets are traded at par (e.g. USDC/DAI) and with LP fees of 0.01%-2%
- Normal Pool: Assets traded are unrelated (e.g. ETH/WBTC) and with LP fees ranging from 0.01%-10%.
Mute Bond
Allows users to deposit MUTE tokens into the protocol and receive annual returns. That is, users will provide liquidity to the MUTE/ETH pair and receive LP tokens. Take LP tokens, buy Bond and receive dMute. This dMute can be exchanged for MUTE, plus 7 days of interest when locking the token. Then sell this amount of LP tokens to Mute Bond to receive more MUTE.
Farming
Deposit into the protocol to provide liquidity and participate in the Mute ecosystem to receive MUTE tokens. Rewards will come from revenue and platform fees.
Mute KNIFE
MUTE as a key to unlock access to Mute DAO. To participate in Mute DAO, users need to lock MUTE for a period of time (7- 364 days) and receive dMUTE token which is a form of soul-bound token (a non-transferable token and locked on a location). wallet only).
The longer you lock the token, the more dMUTE you receive. From there, the DAO’s rights to propose and vote will be higher.
Mute Amplifier
This is an additional bonus feature for liquidity providers who hold a certain amount of MUTE in their wallets. Rewards are equal to APY revenue, APY comes from revenue and platform fees come from buying back and creating systems on Mute DAO.
Projects approved as part of Mute will be allocated a specific amount of MUTE over a period of time with a target APY for Liquidity Providers. There are no amplifier pairs for every liquidity pair on Switch, instead amplifier pairs will be decided by Mute DAO.
Development Roadmap
The project’s development roadmap is summarized as follows:
-
April 29, 2018: Introducing NIX Platform.
-
August 18, 2018: NIX platform switches to PoS.
-
October 12, 2018: NIX was listed on Coinrum.
-
May 9, 2019: NIX-Sigma Public Testnet launched.
-
January 20, 2021: NIX changed its name to Mute.
-
July 23, 2022: Acquired Voice and merged into Mute-Passed.
-
March 25, 2023: Mute officially runs mainet on zkSync Era.
Core Team
There is currently no information about the project team. It is known that the team has experience in developing projects in the Zero-Knowledge field.
Investor
Update…..
Tokenomics
General information about Token Mute
- Token Name: MUTE Token
- Ticker: MUTE
- Blockchain: Ethereum
- Standard: ERC-20
- Contract Ethereum: 0xA49d7499271aE71cd8aB9Ac515e6694C755d400c
- Contact zkSync: 0x0e97c7a0f8b2c9885c8ac9fc6136e829cbc21d42
- Total supply: 40,000,000 MUTE
- Maximum Supply: 40,000,000 MUTE
Token Allocation
Update…
Token Release
MUTE Tokens are 100% unlocked.
Token Use Case
Holder holding MUTE does not enjoy many benefits, but when locking MUTE tokens and receiving dMute. When owning dMute, users will be able to participate in protocol administration.
Exchanges
Mute.io is currently being traded on the following exchanges: Mexc, BingX, Uniswap V2, SyncSwap, XT.COM, Bitget.
Mute.io’s Information Channel
-
Website: https://mute.io/
-
Twitter: https://twitter.com/mute_io
-
Medium: https://muteio.medium.com/
-
Discord: https://discord.com/invite/muteio
-
Telegram:
Summary
Mute is a potential DeFi project that combines AMM, Farming, and Bond, which is quite good and attractive to users. However, information about the project development team is unclear, and tokenomics lacks information, leading to not receiving much attention. We need to keep an eye out for more developments in the near future!