Project Mixtrust For A Decentralized, Distributed, and Scalable Synth Genesis - News from CryptoShib

Project Mixtrust For A Decentralized, Distributed, and Scalable Synth Genesis

Project Mixtrust For A Decentralized, Distributed, and Scalable Synth Genesis

The recently launched MixTrust project will address the vacuum created by the existing markets specializing in the trade of synthetic assets. In simpler words, MixTrust is a mature and sophisticated project, and the project is on the path to redefining how individuals and traders capitalize on the asset trading market.

MixTrust will help proffer a deep-set connection between modern-day businesses and evolving financial scenarios.

What is MixTrust?

MixTrust combines not two but four different aspects of a decentralized finance ecosystem. They are Open, Distributed, Decentralized, and Integrated. These four pillars will become the bedrock of a completely revamped and highly secure DeFi ecosystem.

The terms open and decentralized are synonymous with each other in almost every DeFi space. MixTrust is going to play a major role in collating the global financial services industry presently working in parts. In this space, MixTrust will act as a platform that gives free access to players from across the globe for transacting in synthetic assets or synths.

MixTrust Wears Multiple Hats

  • MixTrust as a Platform

MixTrust, as a platform, will work on Ethereum blockchain by using cross-chain technology, intelligent contracts, and DApp integrations to bring financial equality. Plus, it is going to be a decentralized system, which means there isn’t going to be a single entity that will have control over the frequency of the transactions of a plethora of digital assets.

Furthermore, MixTrust will aim to create a better financial ecosystem where the users get the freedom and accessibility to fulfill each other’s financial needs. All of this will be executed without a third-party coming into play.

  • Creation of Synths

MixTrust allows users to hold synthetic assets (options) that imitate financial assets (derivatives). However, in Synths, the users or peers are not holding the financial asset; but, the Synths distributed on the network are lookalikes of the standard financial assets. This helps users trade without any third party to play the mediator.

To ease the transaction friction, all the synthetic assets on the platform are supported and backed by the Mixtrust’s tokens, MXT.

  • Protect Market Sentiments

One common thing about the crypto and fiat currency market is the manipulation of the price of a currency, stock, bond, security, equity, or any other financial asset. In both the worlds, any buyer or seller giving the result to a transaction (buy or sell) will raise the market’s ears, and several users may imitate a similar behavior, ultimately manipulating the price.

Similar behavior is seen with altcoins trading. However, MixTrust had found a solution to check this trend. By utilizing a fund pool node, MixTrust allows the said node to evaluate the cross-chain transaction and compartmentalize it to ensure that the payment amount and recipient address remains hidden. So, even if large transactions take place on the platform, the market won’t feel the heat of manipulation.

  • Allows Trading with Multiple Assets

The assets on MixTrust are transacted with MXT. So, in case the users want to switch between different assets, they can do so without actually having to sell or buy the existing assets. MXT allows the users to switch between assets with speed.

  • Partnership with NULS

MixTrust has long been planning to partner up with another global platform that can help them expand the outreach. So, NULS was chosen by the marketing, PR, and the development team for enhancing MixTrust’s potential. So, to increase the participation rate, the users are asked to stake NULS and get MixTrust tokens as a reward. This unique partnership works on the Prop of Credit Mining system. Higher mining means better rewards.

Synths Genesis

MixTrust has provided its users with a dedicated platform to create Synths or synthetic assets against the MXT called MixMint. On MixMint, any user can create synths that will be called with the keyword mxtETH. The mxtETH will be created with ETH and holding the MXT tokens as a mortgage.

While the current version of MixMint is a beta version that runs on Ethereum. Due to this, users can only use ETH to create assets on the platform. However, in the near future, many more new assets will get comprehensive support on MixMint to create new assets.

However, when a user keeps the MXT as collateral to create synthetic assets, they must have a 600% mortgage rate to support the entire transaction. Once the synth is created, it can be traded in Uniswap.

Since MXT backs every asset created on the MixMint, they will have a backing of 600% mortgage rate support. This ensures the casting of new assets is pre-secured by an equally lucrative asset that can also be converted into liquid money by exchanging it with other coins like Bitcoin, Ethereum, and so on.

The plans of the MixTrust include launching DEX that will specialize in synthesizing the creation of the asset on the MixTrust platform. Also, the transaction fees charged in the asset creation process will be shared with the miners and MXT holders. Ultimately, it will lead to more production of assets and then more rewards per transaction, leading to a virtuous cycle of profits and rewards.

Lastly, the users can also burn the mxtETH based asset to get back the MXT.

A Unique Concept for a New World

MixTrust operationalizes a fantastic system that fuses together DeFi and cross-chain collaborations to create a beautiful working mechanism for a liberal and authority-free assets trading and exchange market.

The difference will be that all the assets will hone a synthetic form and will be traded with a master coin MXT, which is run on Ethereum blockchain leveraging from the effectiveness of smart contracts and Oracle Network.

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