MysteryX.DAO Introduction

Published on: 12.11.2021

MysteryX.DAO borrows the tokenomics from OlympusDAO.

  • Each $MYX is backed by $1 DAI (more types of reserve are on the way).
  • Tokens cannot be minted or burned by anyone except the protocol.
  • The protocol only mints or burns in response to price.
  • $MYX does not rebase. Instead, a new supply is created via direct sales into the market and burned via direct purchases from the market. This way, $MYX remains backed by real the assets in the treasury, i.e., USD DAI.

 

How pMYX works

pMYX is a precursor derivative of $MYX; it gives the holder the option to mint $MYX by burning pMYX and providing the intrinsic value of $MYX. For example, the DAO would provide 1 DAI and 1 pMYX to mint 1 $MYX.

pMYX Distribution Breakdown:

  • DAO: 700m and no supply cap (Community can vote on this)
  • TEAM: 300m and 9% supply cap
  • Venture Capital: 0% (No, we don’t have V.C. backing)
  • Advisors: 0%

 

Source

https://medium.com/@MysteryX.DAO/to-members-of-the-mysteryx-dao-community-9a9879b86922

Market Stats:
BTC Dominance: 63.72%(+0.14%/24h)
ETH Dominance: 9.69%(-0.04%/24h)
Defi Market Cap: $125.19B(+264.43%/24h)
Total Market Cap: $3777.49B(+1.46%/24h)
Total Trading Volume 24h: $280.18B(+155.68%/24h)
ETH Market Cap: $366.25B
Defi to ETH Ratio: 34.18%
Defi Dominance: 3.25%
Altcoin Market Cap: $1370.54B
Altcoin Volume 24h: $107.15B
Total Cryptocurrencies: 35285
Active Cryptocurrencies: 9477
Active Market Pairs: 104734
Active Exchanges: 831
Total Exchanges: 10649
BTC: 120917.17$(-0.49%/1H)
ETH: 3030.66$(-0.49%/1H)
AVAX: 21.66$(0.04%/1H)
BNB: 698.09$(-0.55%/1H)
MATIC: 0$(0.95%/1H)
FTM: 0$(-0.27%/1H)
ADA: 0.75$(-0.58%/1H)
DOT: 4.04$(-0.86%/1H)
UNI: 9.39$(0.2%/1H)
CAKE: 2.42$(-0.9%/1H)
SUSHI: 0.73$(-0.91%/1H)
ONE: 0.01$(-1.36%/1H)