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Mute.io: Is a faster, cheaper and more confidential Dex finally possible?

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4 min read

Yes, another new DEX! Perhaps this one deserves our attention and that's why we decided to write a brief article on the subject.

Mute.io is the new name given to NIX Platform for those who know. The founders of the project claim that they have everything to remedy the current shortcomings of DeFi exchanges and have set themselves the ultimate goal of making them more efficient.

We are talking more and more (and for good cause) about second-layer solutions which are created to overcome the scalability problems of the Ethereum network. It is with this in mind that you may have heard of zk rollups and Optimistic Rollups, for example.

What does this have to do with Mute.io? Well, Mute aims to be a decentralized zk-Rollup exchange which should by definition offer more speed, fewer fees while allowing user privacy.

Thus, Mute is above all a platform that wants to make trading on DeFi accessible to everyone and this is also the “slogan” of the project.

The founders of the project even write that Mute would be a kind ofUniswap which would be cheaper, more scalable and which would also guarantee private and confidential operations.

Amazing, isn't it?

How it works Mute.io?

Mute implemented Voice Control which is the first DAO (so far) that works with a double token.

The dual token setup consists of a gas token called “MUTE” and a governance token called “VOICE”. The two tokens work together and users in the ecosystem are incentivized to hold one or both to participate in the project as a whole.

The ZK-Rollup DEX that runs on Mute.io is aptly called “Mute Switch,” and the dApp that therefore powers the VOICE token is known as “Voice Control.”

Mute Switch is a ZK-Rollup DEX that wants to offer a private and scalable trading experience via an interface accessible to everyone (beginner and expert). Very clearly, the user experience is intended to be simplified and pleasant to respond and satisfy all new entrants into DeFi.

Also, Voice Control allows all token holders to participate in protocol decisions and/or delegate their votes to a member of their choice (and trusted) in the community.

This would then ensure that the DAO would not favor any party as all holders will clearly be able to participate and vote. Holders of the VOICE token will govern the ZK-Rollup DAO and advance the ecosystem via the Voice Control application.

By upgrading the base layer of Ethereum, it then improves scalability and a better interface, simpler and more pleasant to use. Moreover, the protocol would have chosen the word "mute" which means silence to recall the idea that the tokens will be confidential on the protocol.

The Mute ecosystem has been successfully audited, and the Mute Foundation is currently being created. Everything to create an official and functional DAO above all.

The MUTE token:

The Mute token has a market cap of less than $10 million. We can therefore say that there is still room for great growth, especially if we consider the objective of the project.

Building next-generation DEXs using ZK-Rollup technology is indeed eagerly awaited by the payment-weary community too high gas fees on EthereumEg.

Besides, this would not be the first time that L2 scaling solutions have taken on huge valuations. The Mute token is therefore potentially very promising in terms of the technology it wants to provide.

We still have to wait and see in action and in marketing, in particular, what the Mute ecosystem will do to increasingly integrate itself into the market...

Final Word on Mute

Quite frankly, given the enthusiasm of users for platforms like Uniswap, it seems obvious to us that technologies like Mute have enormous growth potential.

In fact, more generally, anything related to Ethereum layer 2 is highly anticipated. Ethereum Layer 2 is an umbrella term that refers to the strategies that will scale the next generation of Ethereum, to put it simply. So L2 solutions will be installed as an additional layer on Ethereum to make it more efficient.

So, we obviously welcome initiatives of this kind and we look forward to achieving an absolutely better service.

Mute is building a large network and working on interoperability with other accounting chains such as Binance SmartChain, Polkadot and again the promising Avalanche.

One can buy the Mute token on Uniswap.

Discover the official Mute website to know more.

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