Review on MYX Network by Pedro O. Alvino M.
Deflationary token DEFI
MYX is a DEFI project focused on a fair distribution and circulation of MYX tokens, in such a way that it proposes a token burning system for each transaction carried out and said distribution will be sent to users who bet MYX in the MYX Network ecosystem.
According to the service protocol, it consists of proof of participation, where users bet their tokens and receive rewards, and according to each transaction the total circulation of MYX is substantially reduced to 10% of the initial supply, which can affect the value of the token long and medium term.
With just being introduced in the market, its services also cover both common users and developers, where the MYX token feeds said service, in which it allows users to participate in voting for proposals in the MYX Network ecosystem and for developers allows you to integrate MYX into your applications to develop new custom applications.
Pros
- Facilitates fair distribution through automatic token burning for each transaction on the network.
- It has a passive reward system through its proof of stake protocol
- Its system of betting tokens and deflationary capabilities avoid the need to buy masternodes or other expensive equipment.
- With MYX token it allows to participate in voting on new implementations in the MYX Network platform
- Allows developers to integrate MYX into their applications and recreate custom applications.
Cons
- Project in its beginnings.
- Very low circulation of the MYX token on crypto exchanges.
