What Is Mute (MUTE)?
Mute (MUTE) is a cryptocurrency built on an Ethereum network that follows the standards of the ERC-20 token. Users can track, manage, and privately trade their assets in the crypto market using the Mute platform. The decentralized community-driven platform aims to make the cryptocurrency and DeFi trading market more accessible for its users.
Mute is a zero-knowledge rollup-based automated market maker (AMM) exchange and a yield farming platform. Zero-knowledge rollups (ZK-rollups) are smart contracts that scale the Ethereum network by processing multiple transfers off the main blockchain. This means, on the platform, users can trade and manage their tokens without paying a high gas fee.
Going further, the platform seeks to launch Mute Switch, a Layer-2 DEX that lets users interact and exchange various tokens in a private and secure trading environment. According to the whitepaper, the platform also seeks to launch Voice control, an innovative governance DApp that upgrades the entire Mute ecosystem. The key points that Voice governance aims to include in its DApp are:
Any amount of VOICE holders can vote
Possibility to delegate users' votes to other Controllers
Minimum 500 VOICE token needed for submitting a proposal
20% supply quorum is needed with >50% approval to pass the proposal
Mute aims to run a community-governed DAO structure with its two tokens, VOICE and MUTE, working in tandem. Here, VOICE is a governance token, and MUTE is the gas that powers the ecosystem's growth. Using VOICE, users can submit proposals or funding requests to improve the ecosystem. Once the Voice governance DApp approves the proposal or funding requests, the MUTE token is minted and released to the nominated address via smart contracts. Moreover, MUTE and VOICE holders benefit directly through 70% and 30% revenue based on the repurchase and mint initiative, respectively.
History of Mute (MUTE)
NIX platform has been rebranded as Mute and was launched in March 2021. The platform aims to issue a maximum of 31,188,934.89360874 MUTE tokens.
The roadmap suggests that the platform is striving to launch a Switch Farming DApp and Mute Amplifier program that can pair any tokens and allow users to increase their interest rate by staking MUTE.
