LOGO_CRYPTO_SIGHT

What is Mixty Finance (MXF)? What is MXF token?

By Katelyn James | July 30, 2021

The Decentralized Finance (DeFi) industry today consists mainly of the decentralized exchange of digital assets as well as the over-collateralization of digital assets to provide lending services. However, compared to mainstream financial services, it is evident that due to the lack of service mechanisms, there are still limitations in the allocation of resources to users.

Mixty Finance proposes the concept of integrating all elements of financial to expanding the service model and scope of a financial product. It also gives DeFi greater potential to provide mainstream financial services.

Based on this concept, Mixty Finance integrates important elements of a centralized financial system to the decentralized financial system to expand the service model and scope of a financial product.

MIXTY FINANCE gives the potential for DeFi to provide mainstream financial services, as well as further decentralized social governance and autonomy.

Collateralized DeFi

Today’s DeFi landscape mainly exists on the Ethereum platform and consists of two types of systems: Decentralized trading systems like Uniswap. Additionally, there are stablecoin

Systems like Maker, decentralized insurance systems like Nexus Mutual, liquidity aggregators like 1inch, and more. It is clear that collateralized DeFi, in general, the risk control method is the automatic execution of collateral liquidation smart contracts, which provides considerable convenience and flexibility, but also puts barriers in DeFi’s ability to provide mainstream financial services. Today, one of the necessary components that DeFi needs to integrate is an important element of the centralized financial system, services, and financial products.

Mixty Finance integrates important elements of Centralized Financial System to Decentralized Financial System to expanding the service model and scope of a financial product. Mixty Finance gives greater potential for DeFi to provide mainstream financial services, as well as further decentralized social governance and autonomy.

Problem with Small businesses in need of financial services on a centralized financial service.

  • “No Collateral – 44%” Bankers need collateral to mitigate risk. However, most small businesses don’t have any collateral assets, other than their own business. This is the primary reason bankers say ‘No’ Banks make money from interest generated by large deposits. But, small businesses do not have extra cash flow and extra savings to deposit with banks, as they require all their cash to support the daily cash flow requirements of their Businesses. Without large cash deposits and little revenue from interest, banks cannot say ‘Yes’.
  • “Too much risk for too little return – 19%” Commercial banks require a certain threshold of low risk and profitability per account to engage in a profitable business relationship. Unfortunately, most small businesses cannot reach such a threshold, thus causing banks to decline to enter such a high-risk relationship
  • “No audited financials – 8%” Large commercial bankers require full financial audits before offering their banking services. However, bankers do not have the bandwidth to conduct such audits, as they require much time and effort. As a result, they request the small business to submit multiple years of audited financials from a reputable audit firm. Unfortunately, most small businesses do not have such data, and more importantly, cannot afford the high costs charged by large audit firms to prepare full financial audits.
  • “Lack of credit history – 17%” This is a “chicken and egg” situation, where small businesses cannot get credit from commercial bankers, and commercial bankers cannot give credit unless the business has a credit history.

Solution

MIXTY FINANCEintegrates important elements of the centralized financial system into decentralized financial services and enhance DeFi products in the following ways:

  • Asset digitization The digitization of certain types of assets requires on-chain confirmation of a series of credit elements related to those assets, such as ownership/asset attributes/legitimacy, etc.
  • Regulatory compliance If DeFi expands the service scope and category of the service group, compliance will become an important requirement, which will involve considering the needs of relevant assets or the service element review of relevant users. In addition to a risk control mechanism, Financial service-based DeFi must integrate the verification of service elements in a decentralized manner. Verification of service elements can not be carried out using a traditional centralized mechanism with centralized storage and manual review. In the case of Financial service-based DeFi, the risk control mechanism and service elements require the introduction of two important decentralized mechanisms.

    Tokenomics

    The Mixty Finance token is called /MXF/ (plural: /MXF/) . It is divisible to 18 decimal places. At the launch of the main network, the initial supply cannot exceed a total of 20,000 tokens.

    • Name: Mixty Finace
    • Symbol: MXF
    • Decimal: 18
    • Smart Contract: 0xdf065aa3a18ae67055ff44bd26506fde6ce13312

How and Where to Buy Mixty Finance (MXF)?

Mixty Finance is now live on the Binance mainnet. The token address for MXF is 0xdf065aa3a18ae67055ff44bd26506fde6ce13312. Be cautious not to purchase any other token with a smart contract different from this one (as this can be easily faked). We strongly advise to be vigilant and stay safe throughout the launch. Don’t let the excitement get the best of you.

Just be sure you have enough BNB in your wallet to cover the transaction fees.

You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…

Tags: , ,

Related Articles

What is mStable (Meta MTA)?

Emily Rys | Jul 22, 2021

What is Wonderland (TIME) token?

Warren Hayes | Sep 9, 2021

What is BuggInu token?

Chris Torres | Jul 15, 2021

What is EthereumMax (EMAX) token?

Chris Torres | Aug 26, 2021

What is Etheroll (DICE)?

Shannon Wilson | Aug 26, 2021

What is KEN token?

Tracy Hannes | Jul 16, 2021

What is BEE Coin (BEE)?

Jenny Aurora | Jul 26, 2021

Comments