What is the purpose of the MXT token?
The MixTrust (MXT) token supports all types of synthetic assets. The synthetic assets can only be generated once MXT holders use the MXT dApp (a dApp that interacts with the MixTrust smart contract) to mortgage their MXT tokens as collateral. Synthetic assets currently require a 600% mortgage rate in order to obtain transaction rewards.
In the future, the community governance mechanism will determine the mortgage rate. The MXT mortgagor will have a corresponding debt relationship when creating a synthetic asset. MXT is an important key,Among the more functions that MixMint will launch.
What are the benefits of holding MXT?
Everyone is encouraged to hold MXT and/or create synthetic assets for multiple reasons, some of which consist of:
MXT holders can mortgage the token to the current mortgage rate. Whenever someone exchanges one synthetic asset for another, a transaction reward is generated. Each transaction generates a 0.3% transaction fee, which is then deposited into the fee pool. A MXT mortgagor can claim it proportionally every week from the fee pool, which serves as the transaction reward.
MXT holders can enjoy daily interest rewards, which is calculated at a daily interest rate of 0.1% of the total MXT holdings. This is cleared once a week.
MixTrust allows users to trade in a decentralized and trustless manner. By avoiding the need to go through a third-party organization, participants will have complete confidence in their investments. Cryptocurrencies tokenized through MixTrust (MXT) are expressed as mxtBTC, mxtBCH, mxtZEC, etc. These tokens can then be transferred through MixTrust’s decentralization in exchange for the actual cryptocurrencies (BTC, BCH, ZEC, etc.).
