Mute.io is a DeFi Hub platform for projects built on zkSync, a layer 2 scaling solution for Ethereum. Initially a PoW-based Blockchain project named NIX, Mute.io aimed to create a layer 2 solution applying zero-knowledge proofs technology.
zkSyncs flag DEX, Mute.io: a comprehensive review
However, the project was redirected to build on zkSync and renamed Mute.io. Currently, Mute.io is the second-largest DEX in the zkSync ecosystem, with a Total Value Locked (TVL) of $20.3 million, just behind SynSwap.
Mute.io stands out as a zkRollup-based DEX on top of the zkSync Era. It includes modules like a limit order, pledge platform, and bond platform.
It supports various assets for trading and liquidity provision. One of the unique features of Mute.io is the Mute Switch Amplifier, a bonus rewards system for Liquidity Providers who hold a certain amount of MUTE tokens in their wallet.
The extra APY for users is deducted from the platform’s revenue and fees. Projects can register to participate in the Amplifier program to be allocated MUTE tokens from Mute.io to reward liquidity providers.
Products of Mute.io
Mute.io offers several products, including Mute Switch, Mute Amplifier, Mute Bonds, Limit Orders, and Mute DAO. Mute Switch is a zkRollup DeFi Platform built on zkSync v2, offering features like AMM based DEX with Limit orders, Stable and Normal AMM curve pools, Variable LP fees, Fixed and Dynamic Protocol fees, 0% LP minting fee, 1-3s settlements, and 95%+ gas cost savings compared to L1 ETH.
Mute Amplifier is a liquidity reward protocol that allows LPs to gain additional revenue APY & take part in the Mute ecosystem. Mute Bonds allow users to exchange MUTE-ETH LP tokens for MUTE tokens from the Mute DAO at a lower cost basis.
Limit Orders on the Switch utilize the native AMM as a liquidity and inventory provider. Mute DAO is the DAO of Mute.io, with the governance token MUTE, acting as an intermediary token to unlock access to the DAO.
The MUTE Token
The MUTE token is the governance token of the Mute.io ecosystem. Users must lock MUTE for 7 to 364 days and get dMUTE back. After the lock time, the user can change the MUTE. The MUTE token has a total supply of 40,000,000 MUTE, all of which are in circulation.
Conclusion
Mute.io offers a comprehensive DeFi platform where users can trade, invest, earn yields, and participate in Bonds all on one decentralized, community-driven platform. It leverages the security of Ethereum without high gas fees, making it an attractive choice for traders and investors.
With a team that has a proven track record of innovation and expertise, Mute.io is ready to become a leading player in the zkDeFi space by building on zkSync and driving long-term value to its community.
About Mute.io
Mute.io is a prominent DeFi hub built on zkSync, offering a suite of financial services including a decentralized exchange, yield generation platform, and bond offerings. With a focus on community governance and leveraging the security of Ethereum without high gas fees, Mute.io is committed to driving innovation in the DeFi space.
Its unique features like the Mute Switch Amplifier and Mute Bonds, along with its governance token MUTE, provide users with a comprehensive, secure, and efficient platform for their crypto trading and investment needs.
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