Synthetix Network Token SNX to Merculet MVP Exchange

Crypto Pair Details: SNX to MVP

Synthetix Network Token SNX

Synthetix is based in Australia, Synthetix launched a seed funding round in September, 2017 to develop the concept of a self-contained stablecoin payment network. They then kicked off their public ICO on February 28, 2018 and by the end of the ICO on March 7, 2018, they had met their goal of $30,000,000 USD. Synthetix was rebranded from Havven on November 30, 2018. Synthetix is led by a multidisciplinary team of 13 individuals. The project was founded by Kain Warwick, who previously co-founded blueshyft, one of the largest digital payment networks in Australia. The CTO is Justin Moses, who also serves as the Director of Engineering at MongoDB. Synthetix aims to address the problem that companies running centralized payment networks such as PayPal, credit card networks, or the SWIFT banking network have “absolute control over the value within the network, so any transaction conducted within them may be blocked or reversed at any time.” According to the Synthetix white paper, “Although this is ostensibly designed to protect users, it introduces systemic risk for all participants. If the network is compromised or its owners cease to behave benevolently, no party can trust that the value in their account is secure or accessible.” This is theorized to work because anyone who holds SNX tokens in escrow will be incentivized by Synthetix rewards derived from network transaction fees that will be distributed “in proportion with how well each issuer maintains the correct Synths supply.” When a Synthetix escrow user puts their SNX in escrow, USD-stabilized Synths will be automatically put up for sale on a decentralized exchange at a price of $1 USD. To release escrowed SNX, the user must buy back the Synths issued (also at a price of $1 USD) at which point the Synths will be burned. The Synthetix system uses an algorithm to adjust network fees, and therefore dividends, to SNX holders to incentivize (or disincentivize) the holding of SNX in escrow smart contracts, and thus, the creation of Synths. The theory is that this will cause users to mint and burn Synths in the appropriate amount based solely on supply and demand.

Merculet MVP

Merculet proposes a growth methodology based on user attention: Merculet constructed Attention Value Network. This Network connects both the supply and demand sides of attention with an open protocol suite to promote a virtuous circulation of the Internet of Value. On the one hand, it provides diverse methods for user operation. On the other hand, it offers real users and business scenarios for various existing public chain projects, promoting the effective circulation of value. Attention Value Network realizes the value circulation in a distributed commercial society, brings a brand-new production relationship experience to users and entrepreneurs, and re-defines the structure of valuable user traffic. The core components of the project include: 1. User Attention Value (UAV) evaluation system: UAV System effectively evaluates user attention, completes digitalization and capitalization, and provides a proof of effective workload, that is, UAV. It established a long-lasting trust relationship between entrepreneur and user as well as a new mechanism for the community of interests; 2. Attention Incentive system: UAT (User Attention Token), Application Market of Merculet UAT Alliance Entrepreneurs can issue UAT to users based on UAV value. The UAT will be anchoring the basic MVP (Merculet Value Protocol) token, enabling the synergy and the value exchange between entrepreneurs, thus creating an era of the token, which is a means of the welfare, equity, entry admission, and identity. 3. To address the source of user attention, Merculet will provide a blockchain based Merculet Open Content Platform: Based on consensus and driven by token, it will provide a decentralized platform for the entire industry chain globally. It also dedicated to solving the problem of global content circulation brought by cultural differences.

SOURCE: COINGECKO

instantcryptocurrencyexchange Statistics

Instant Cryptocurrency Exchange Platform