Another solution is dynamic sell fees. The longer you hold a Dynamix token, the lower the sell fees fall. For instance, if you hold the token for less than a week, you pay a 17% sell tax. However, if you hold Dynamix (DYNA) for one to six months you pay an 8% sell tax. If you hold for over 5% months you pay a 5% sell tax.

The Dynamix (DYNA) is a token designed to solve what its designers see as some of cryptocurrency’s greatest problems.

Those problems include low rewards payments, and small fees that discourage selling. The Dynamix team also believes the buyback system built into many tokens does not work. Buyback mechanisms fail because token designers to do not apply logically. For example, Dynamix claims a person receives the same buyback price for $1 worth of the token as they would $1,000 in DYNA. Hence, there is no incentive to use the buyback.

To solve the problems, they built an intelligent algorithm (smart contract) that adjusts transaction fees into Dynamix. The intelligent algorithm implements several solutions to these problems.

The Dynamix Solutions

Those solutions include dynamic rewards. The algorithm rewards Dynamix holders with 4% rewards. In contrast, most tokens offer 1% to 2% in rewards.

Another solution is dynamic sell fees. The longer you hold a Dynamix token, the lower the sell fees fall. For instance, if you hold the token for less than a week, you pay a 17% sell tax. However, if you hold Dynamix (DYNA) for one to six months you pay an 8% sell tax. If you hold for over 5% months you pay a 5% sell tax.

Hence, Dynamix tries to discourage short-term speculation with high declining sell fees. One problem with cryptocurrencies is that speculators buy and sell tokens fast to make a killing in the market.

An intriguing solution is a dynamic buyback. The Dynamix platform automatically buys back DYNA tokens based on the number of tokens sold. They hope the Smart Contract can maintain the DYNA price by calculating the percentage. The Smart Contract burns the tokens it buys back to maintain the price.

Dynamix Transfer

A fascinating solution is the Dynamix Transfer solution. They claim the solution can define a mission or task a recipient must complete to get paid. For example, a freelancer will need to complete a gig to get paid.

The payer finances the mission through the Dynamix platform. The Dynamix algorithm pays the freelancer when he delivers the completed work. Users will finance the missions in Binance Coin (BNB) or the Binance USD (BUSD) stablecoin. The Binance USD stablecoin pays in US dollars when it you spend it. Dynamix burns the fees on transfers. They hope the Dynamix transfer will discourage frauds with an anti*scam mechanism.

The Dynamix team is planning a Dynamix Crowdfunding platform and a Dynamix Credit platform. These platforms will provide funding through smart contracts.

The crowding platform will provide venture capital to startup founders who provide a pitch and a business plan. If crowdfunders select a project, the Dynamix platform will fund it with Dyanmix, BNB, or BUSD.

The Dynamix Credit program will provide loans for projects. Smart contracts will administer the loans and pay interest to investors who finance the loans.

What Value Does Dynamix (DYNA) Have?

Oddly, the Dynamix team claims not to hold any DYNA tokens. The team declines to hold tokens to promote the use of Dynamix tokens.

The developers think the holding of tokens by developers discourages token sales. To explain, they think developers who hold large numbers of tokens make their platforms look like scams. Developers could inflate the value of their tokens by and platforms by holding enormous amounts of unsold coins.

Instead, they will dedicate 45% of the Dynamix tokens to a PreSale, 36% to PancakeSwap, and 3% to DxSale fees. In addition, they will burn 16% of the DYNA.

Interestingly, they plan to issue one Quadrillion Dyna Tokens. A Quadrillion is 1,000 trillion. Consequently, the initial value of one Binance Coin (BNB) could be 3,750 billion Dyna. CoinMarketCap gave Binance a Coin Price of $436.67 on 6 October 2021.

The Dynamix developers are serious about promoting their product. They plan to spend 60% of their budget on marketing hoping to create a mass market for Dynamix. Current marketing plans call for billboards, partnerships with influencers, media campaigns, and social media marketing.

Is Dynamix (DYNA) a good cryptocurrency?

Mr. Market credits Dynamix with some value. CoinMarketCap estimates Dynamix (DYNA) was the seventh most trending cryptocurrency on 5 October 2021.

 

In contrast, CoinMarketCap ranked Dynamix as the 2,957th most valuable Cryptocurrency on 6 October 2021. CoinMarketCap gave Dynamix (DYNA) a $0.000000002018 Coin Price, a Fully Diluted Market Cap of $2.018 billion, and a 24-Hour Market Volume of $1.827 billion on the same day. They base those numbers on a Maximum Supply of one quadrillion DYNA and a Total Supply of one quadrillion DYNA.

 

I think Dynamix (DYNA) is a poor cryptocurrency because of its low price and enormous supply. However, I believe Dynamix could be an excellent defi solution -if it works as advertized. I think Dynamix is a defi product for which there could be a demand.

 

However, I advise speculators to avoid Dynamix until they show the defi platform is issuing loans, making transfers, and arranging crowdfunding. Dynamix could be a defi platform to watch.

Originally published at https://marketmadhouse.com on October 6, 2021.

0 Comments

Leave a reply

Your email address will not be published. Required fields are marked *

*

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Hence, Dynamix tries to discourage short-term speculation with high declining sell fees. One problem with cryptocurrencies is that speculators buy and sell tokens fast to make a killing in the market.
FacebookTwitterGoogle+

©  2021 Dwarkadhish Technologies.

CONTACT US

We're not around right now. But you can send us an email and we'll get back to you, asap.

    Your Name (required)

    Your Email (required)

    Your Subject (required)

    Your Message

    Log in with your credentials

    Forgot your details?