Decentralized exchanges (“DEXs”) have taken the financial world by storm. As of mid-February 2021, over $41B has been locked into DeFi, meaning over $41B has been locked into smart contracts on the decentralized finance ecosystem.
In other words, that money is programmed into code and locked in. That figure is up from just over $1B at the same time last year. DeFi has gone full-on mainstream with acknowledgements in the media from the likes of Mark Cuban and other A-list financial influencers.
And yet, as the Decentralized Exchange market grows at a stunning rate, the industry is looking to the next generation of products to carry it forward. That includes ZK-Rollups, the latest development in PriFi (private finance), offering an upgrade on the base-layer of Ethereum by way of improved scaling as well as bringing some of the best privacy benefits to users.
Introducing Mute Switch – the ZK-Rollup DEX
Enter Mute, formerly NIX Platform. Mute is an entire ecosystem based on ZK-Rollups, adopting branding that more accurately reflects its core mantra of making tokens private and more accessible to the masses.
Operating within this cutting edge layer-2 sidechain on Ethereum, Mute Switch is a ZK-Rollup DEX that commits to providing private and scalable trading through an accessible interface. User experience is at the heart of the offering and the platform promises to on-board hoards of new users interested in using a fresh, appealing and simple to use swap service.
NIX itself transitions to the MUTE token through a token-swap process, which remains open for the next 4 months. After this point, the existing development fund will be burned, unclaimed coins will not be carried over to the new ecosystem and scheduled inflation will cease, meaning circulating supply will equal total supply, positioning the new ecosystem as non-inflationary.
NBT, known as NIX Bridge Token, is also transitioning to the new branding, becoming VOICE token. Holders of NBT have no action to take…