What is Mute (MUTE)?

Mute is a decentralized finance (DeFi) platform built on zkSync v2 that provides users with a range of features, including a decentralized exchange (DEX) with limit orders, yield generation, bond offerings, and a DAO. It offers gas cost savings of over 95% compared to L1 ETH and enables users to leverage the security of Ethereum without high gas fees. The platform has variable liquidity provider (LP) fees and charges a protocol fee of 0.1%, with no LP minting fee. Settlements occur in 1-3 seconds, making it fast and efficient for users.

How Mute (MUTE) Works

The Mute platform offers 3 features:

- Mute Switch is an AMM-based DEX that offers limit orders. It enables the creation of pools with variable LP fees, ranging from 0.1% to 10%, which can be changed through an LP governance system, allowing LP providers and projects to build a larger revenue stream compared to traditional AMM-based DEXs and NFT marketplaces, while a 0.1% fee on total votes when changing pool fees helps prevent gaming the system with flash loans. 

- Mute Switch Amplifier is a farming platform that incentivizes LPs by offering additional APY and MUTE rewards fueled by platform revenue and fees. Projects that are approved to be part of the program get a specific amount of MUTE token over a period of time with a target APY for liquidity providers, with each amplifier having a capped amount of buy-ins to ensure that the base APY is not diluted, while the amplified APY is variable and determined by a ratio of the user's snapshotted dMute vote value versus the total Mute rewards in the pool.

- Bond platform provides a way to trade MUTE-ETH LP share for MUTE at a lower cost basis and increase Protocol Owned Liquidity, compensating the user with more MUTE than they'd get on the market, but with exposure entirely to MUTE and no longer to MUTE-ETH LP, with bonds sold on a first-come, first-serve basis and dMUTE issued with a 7-day time lock.

There are two tokens within the Mute protocol. MUTE is a utility token that is used to access the Mute DAO, a lock-based voting system where users can lock their MUTE for a period of time to receive a soul-bound token called dMUTE, which is used to delegate votes and access various utilities offered by the Mute DAO.

How Many Mute (MUTE) Tokens Are in Circulation?

MUTE has 40 million tokens in total supply and all of them are in circulation.

How to Buy Mute (MUTE)

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Check out the available MUTE trading pairs on Bitget!

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MUTEUSDT

Mute (MUTE) Resources

Official Website

Official Documents