RECAP：Twitter Space: Exploring the Inscription Ecosystem: Applications and Challenges

On December 18th, the Twitter Space event, hosted by MYX.finance and co-sponsored by IERC-20 and OKX Wallet, was a resounding success. Esteemed guests shared comprehensive insights on inscription technology and its application in the cryptocurrency sphere, providing attendees with a holistic view to better understand the current landscape and future trends.

Highlights from MYX

1. MYX aims to unlock the immense potential of decentralized derivative trading, targeting to break the barriers of billion-dollar on-chain transactions.
2. The initial product testing phase achieved remarkable results, with over 19,000 unique addresses participating and a total trading volume of $67 billion.
3. MYX’s Matching Pool Mechanism (MPM) engine has achieved a 28-fold increase in capital efficiency and a 258-fold increase in daily liquidity turnover.
4. MYX offers the most competitive trading fees in the market, significantly boosting capital efficiency by efficiently matching long and short positions.

Innovations and Value of BMYX

1. BMYX, a pivotal branch of MYX, represents a deep exploration of user rights and community engagement.
2. Beyond being an inscription experiment, BMYX reflects widespread community consensus, aiming to propagate the MYX philosophy to a broader audience.
3. BMYX is anticipated to play a key role in member NFTs, fee-sharing, and Airdrops, as well as evidence of early support for Bitcoin network projects.

Advantages and Plans for IERC-20

1. Focused on reducing costs and increasing transaction speed.
2. Highlights include IERC-20’s role in lowering security risks associated with smart contracts, thereby enhancing safety in crypto projects.
3. IERC-20 offers advantages to individual investors in terms of quick confirmation times and low gas costs, ensuring fairness in trading and mining.
4. IERC-20 aims to establish a robust ecosystem, with future plans including the creation of an OpenSea-like platform covering tokens, NFTs, domains, wallets, and blockchain explorers.

Collaboration and Strategic Planning

1. MYX collaborates with IERC, exploring the potential for cross-chain asset circulation and recognizing IERC’s success on EVM chains.
2. MYX plans to develop a sustainable DEX on the BTC network, a strategic decision of significance.
3. BMYX symbolizes community consensus within the MYX project, playing a crucial role in ecosystem propagation during the Pre-TGE phase.

Statements from OKX Wallet

1. OKX Wallet, a one-stop decentralized platform, includes a self-custody wallet, decentralized exchange, NFT trading platform, and on-chain yield products. Users can easily open and create wallets within the OKX App. OKX Wallet features EOA, MPC, and AA wallets, enhancing usability, particularly for blockchain novices.
2. OKX Wallet’s market share is steadily climbing, recently capturing about 70% in the inscription market, highlighting its leadership in the crypto wallet sector. The continual enhancement of product performance and diverse activities strengthens user engagement and experience.
3. OKX Wallet actively collects and values user feedback through multiple channels, supported by a global team available around the clock. Future expansion plans focus on ecosystem enhancement, product and service optimization, and driving industry growth through technological innovation.
4. OKX Wallet serves as a platform for decentralized scenarios, with the current inscription ecosystem being community-driven. Community members or individuals have the liberty to deploy.

Conclusion

MYX’s recent exposure not only showcases technological innovation but also represents a powerful alliance between capital and market forces. With a $5 million seed funding round led by HongShan (Sequoia China), MYX demonstrates confidence and strength in tech innovation and market expansion. Going forward, MYX plans to amplify its influence in the decentralized trading sphere, enhance its platform for a more efficient and secure user experience, and strengthen community engagement and development. The upcoming launch of the second phase of the testnet will further foster the growth and evolution of the MYX community. The MYX team invites community members, prospective users, and investors to join its expanding community, shaping the future of decentralized trading together.

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For collaboration: marketing@myx.finance

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