What Is Dynamix (DYNA)?

Dynamix (DYNA) aims to be the first token built with an evolving algorithm based on events. Dynamix’s mission is to create a platform that would protect users’ funds while transacting on the blockchain. Dynamix seeks to offer an escrow service that connects freelancers and those looking to outsource work, aiming to allow them to connect and pay securely while working with the assurance that they'll be paid. Additionally, DYNA is exclusively created on the Binance Smart Chain (BSC), which is a decentralized blockchain assuring benefits like improved performance and low transaction charges. 

As stated in the whitepaper, Dynamix is a DeFi (decentralized finance) token employing the benefits of a unique reflection contract. Reflection tokens represent cryptocurrencies that utilize a mechanism to reward all token holders. Further, the mechanism aims to make transactions taxable and distribute a percentage of the accumulated tax among all token holders as rewards. The token seeks to present three main features—dynamic rewards, dynamic sell fees, and dynamic buyback.

• Dynamic rewards -The Dynamic token uses an algorithm that seeks to increase the percentage of rewards distributed as the number of holders grows. This is done so that holders are not compelled to share the same benefits as they grow in number.

• Dynamic sell fees -The Dynamic token has developed a taxation system based on how long a user keeps his tokens; the longer you keep your tokens, the cheaper your tax will be.

• Dynamic buyback -The system automatically acquires or buys back the tokens as soon as a holder trades off the token. The token seeks to allow for a cost-effective approach to ensure that there isn't a high influx of tokens redistributed at the start, as well as a significant fall in rewards as the number of holders grows. The holders are rewarded to hold due to the sell tax declining the longer they hold.

Dynamix (DYNA) aims at launching a new platform, the Dynamix Missions, to benefit freelancers and job seekers at length. The platform allows freelancers to connect directly with users eager to host jobs. Dynamix (DYNA) seeks to upgrade the platform with the increasing number of use cases and focus on making the platform simple and user-friendly. Moreover, Dynamix (DYNA) plans to feature Dynamix Credit and DEX (decentralized exchange) in the long run. In short, Dynamix (DYNA) aims to bring together a secure, multiuse platform for job seekers, job providers, and financial facilities within a single network. 

History of Dynamix (DYNA)

Dynamix (DYNA) was founded by Dan. Dan is a crypto professional with additional experience in finance and alternative investments. The whitepaper for Dynamix (DYNA) was published in December 2021. Also, the maximum total supply of the token is recorded to be 1 quadrillion.