Introduction to Mute: A Decentralized Exchange on zkSync Era

Mute is a decentralized exchange (DEX) that operates on the zkSync Era blockchain. It utilizes automated market maker (AMM) protocols to facilitate token swaps and liquidity pooling. This platform is specifically designed to leverage zk-Rollups technology, which enhances scalability and privacy while maintaining security by utilizing zero-knowledge proofs—a method enabling data privacy through mathematical evidence without revealing the data itself.

Key Features and Functionalities

• Mute supports various trading features including token swapping and liquidity pools.
• The platform is noted for preparing to introduce a Limit Order feature to provide users with more control over their trading strategies.

Liquidity Pools and Governance

Mute differentiates its liquidity pools into two main types:

1. Stable Pool: Includes less volatile assets like USDT and USDC, typically carrying lower transaction fees ranging from 0.01% to 2%.
2. Normal Pool: Comprises more volatile assets such as ETH and WBTC, with fees varying from 0.01% to 10% depending on market conditions.

The governance of the exchange is predominantly held by Mute's proprietary governance token, Mute (MUTE). Users lock MUTE tokens to receive dMUTE, a non-transferable token used for participating in governance decisions within the Mute DAO (Decentralized Autonomous Organization).

Innovative Solutions: Bond and Amplifier Products

Mute offers unique products that integrate directly with its DeFi ecosystem:

• Bond: This feature allows users to leverage their MUTE-ETH LP tokens to purchase MUTE at below-market rates, helping increase the protocol’s liquidity and long-term financial stability.
• Amplifier: A liquidity rewards protocol where liquidity providers (LPs) can earn additional returns over and above the usual transaction fee earnings. This incentive is designed to attract more participants to the platform, enhancing overall liquidity.

MUTE Token Essentials

• Token Name: Mute
• Ticker: MUTE
• Standard: ERC-20 on the zkSync Era
• Total and Circulating Supply: Both are capped at 40 million MUTE tokens.

Token Usage

MUTE tokens serve multiple roles within the platform including governance, staking, and participation in specialized financial products like Bonds and Amplifiers.

Transparent and Community-Focused Development

Originally, Mute began as a proof-of-work blockchain but shifted focus to build on zkSync, aligning with broader trends in the Ethereum ecosystem toward layer-2 scaling solutions. The transition maintained an ethical approach, emphasizing fairness and transparency:

• The swap from native Mute tokens to ERC-20 based MUTE was done on a 1:1 basis, with all actions verifiable on the Ethereum blockchain via platforms like Etherscan.

• Mute involves a secondary token, VOICE, which holders can convert to MUTE under specific conditions, adding an extra layer of participation in the platform’s economy.

Rebranding to Koi

In a significant update, Mute has undergone a rebranding process to become Koi. This change aims to align the project more closely with community interests and address broader engagement challenges. The rebrand includes a complete overhaul of the coin and platform identity to better reflect its evolving features and target market engagement.

Transition Details

• As a part of this change, a token swap will be initiated, allowing holders to convert their MUTE tokens to the new KOI tokens directly within the zkSync-powered dApp.
• The rebranding process is designed to be gradual, ensuring that the community remains fully informed and comfortable with the new changes.
• Koi will continue to support all former Mute functionalities and introduce new features like enhanced governance and revenue sharing models expected to attract a wider user base and bolster active community participation.

This strategic pivot to Koi marks a new chapter in the platform's history, reflective of adaptive measures in the evolving DeFi landscape and a commitment to community-driven development.

Mute Price Analysis

As of November 24 2024 Mute has a marketcap of $1.4M. This is {{percentagefromath}} from its all time high of $3.14. In terms of its tokenomics, there's a total supply of 40M with 100% currently outstanding. Keep in mind Mute has a fully diluted value of $1.4M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.