The use instances and potentialities of blockchain expertise are increasing at a charge the place it’s being utilized in all spheres of life. Blockchain platforms are competing towards one another to usher in applied sciences which might be distinctive in their very own approach. Within the age of blockchain improvements, there’s a want for options that bridge the functionalities of various blockchain platforms.
The Many Worlds ($MANY) token is an modern DeFi token constructed on the Binance good chain community that goals to leverage blockchain platforms to boost their shopper expertise and function the governing token for blockchain options in varied phases of improvement.
In an interview with the COO of Many Worlds Token, Steven Bumbera we mentioned their platform, the Many Worlds ecosystem, their profitable presale, and rather more.
1. Inform us extra in regards to the imaginative and prescient behind creating the Many Worlds platform? What drawback does the platform goal to resolve within the house?
Regardless of present market circumstances, mass adoption is effectively on the way in which and Many Worlds is positioning itself to profit from many various sides of this adoption. Our enterprise has three core parts. Tokenomics, Utility, and Leisure.
From the tokenomics perspective, now we have two main targets, considered one of which has been achieved and the opposite presently in improvement. The issue we already solved is the present approach rewards-based tokens function. The concept of steady coin rewards is an outstanding one, nevertheless it comes with a 14%+ purchase and promote tax making it unimaginable to scale or present long-term development potential. We solved this drawback by creating the world’s first dynamic tokenomics system, permitting totally different tokens in your pockets to have totally different intrinsic values.
Successfully, we’re capable of produce the identical, if no more rewards than present methods however with solely a 3% purchase tax. The opposite facet of tokenomics is our motion into the fintech house as mass adoption continues to develop. Now we have partnered with CloudPayments and within the coming weeks, we will probably be releasing an answer that enables people into the DeFi house with direct FIAT transactions. As we proceed to develop the software program and shut partnership offers, we inch in the direction of changing into the Stripe of the crypto house.
The utility being delivered is regarding the metaverse. We regularly discuss with the metaverse in a singular method as if there will probably be one, however that’s merely not the case. The fact of the metaverse is that it is going to be a multiverse, which would require bridge utility to interconnect all property and platforms, permitting a person to seamlessly traverse this multiverse while not having a number of governing tokens or login portals.
Our phased method begins with the event of our fee processing software program permitting us to contain the 96% of the world not but concerned in crypto, then giving them an ecosystem to take pleasure in by having customizable NFT’s. This results in our interoperability protocols which permit for client-ecosystem and ecosystem-ecosystem communication earlier than introducing our blockchain asset injection software program and SDK permitting for property comparable to NFT’s to maneuver seamlessly between ecosystems.
Whereas the first operate of Many Worlds is to play an interconnecting bridge function, we do certainly have our personal artwork, ecosystem, and leisure function to play within the house. Our NFT Customization Platform will enable a customized, distinctive NFT’s to exist inside our world. One of many dev staff members is an govt within the leisure business who has launched animated TV collection on platforms comparable to Disney+ that offers us the potential to make this a actuality. Now we have our personal story and artwork which could be considered on the web site at www.manyworldstoken.com. On this world, customized NFT’s will have the ability to seem in our NFT Comedian Books and NFT Tv Sequence.
2. What was the explanation behind selecting BSC for $MANY? How is it going to be helpful for the customers?
As we method mass adoption with the fed inching in the direction of the implementation of a central financial institution digital forex it’s clever to construct a venture based mostly on the world’s largest crypto change. This provides a regulatory defend and a strong accomplice as we proceed constructing out our venture. Past Binance itself and regulation, the underlying expertise is superior by way of velocity, value, and ease of improvement.
Whereas Binance stands out as the largest crypto change, the blockchain BSC continues to be fairly new being simply over a yr outdated and has quite a lot of development potential contemplating Ethereum, the dearer various on this planet of good contracts, holds an amazing quantity of the market share. In brief; regulation, liquidity, and underlying expertise are all explanation why we selected to make the most of the ability of the Binance Good Chain.
3. In accordance with you, what makes the Many Worlds platform stand out from the remainder within the house? Inform us in regards to the first-ever variable tax system in crypto?
There are a number of issues that trigger us to face out, however I believe the primary and most necessary is the staff behind the venture. In crypto, particularly on BSC, there are a plethora of tasks with guarantees of utility but their good contract is a duplicate and paste of another profitable venture and their groups aren’t doxed, KYC’d, or audited. Not solely do now we have a doxed and KYC’d staff with a confirmed monitor document in enterprise, however we even have an audited and distinctive, customized contract proving {our capability} to ship excellent performance briefly durations of time. Our business-savvy method places us in an exquisite place to work with regulators as mass adoption continues to develop. We aren’t attempting to cover from regulators or make the most of the Wild West that’s crypto, however as a substitute we’re positioning ourselves from each a authorized and technological perspective to take part within the industrialization interval that’s to observe.
The world’s first dynamic tokenomics system permits the holder to have tokens in your pockets with totally different intrinsic values. Now we have an getting old course of constructed into the contract which implies the second you buy tokens they start to age. The older the tokens are, the upper degree they’re, and the extra rewards which might be produced by that lot of tokens. For instance, if you happen to have been to buy 10 tokens at the moment, you’ll be buying 10 degree 1 tokens that might start to age. Tokens turn into degree 2 on the eighth day of holding. Let’s say on the eighth day you buy 10 extra tokens. You now personal 20 tokens in whole (10 degree 1 tokens and 10 degree 2 tokens). Rewards as much as degree 3 are based mostly on the present tax based mostly system. The necessary characteristic is the flexibility for tokens to age and characterize differing intrinsic values offering totally different interactions with the good contract relying on the tokens age.
4. Many Worlds has an modern reward-based system that offers scalability to the stablecoin rewards system on-chain. Inform us extra about it?
All present rewards-based methods are based mostly round various types of tax tokenomics. Scalability is the important thing difficulty in all stablecoin rewards methods which now we have addressed and corrected. There are three core points with present rewards-based methods: a barrier to entry, buying and selling quantity, and waste of capital. All of those points share the identical results of diminishing returns.
The barrier to entry was talked about earlier due to the present construction of getting 14% purchase and promote taxes in an effort to fund the rewards. To place that into perspective, a very break-even commerce would lead to a loss close to 30%. Assuming revenue is to be made, then authorities taxes would additionally have to be thought of. As the value grows, so does the barrier to entry by way of not solely taxation, however regarding the variety of tokens one may buy and since rewards are based mostly on buying and selling quantity and what number of tokens you maintain, this drawback grows at an exponential charge. The one ones who will ever profit from excessive tax rewards methods are the earliest to enter. This barrier to entry dissuades long-term traders from collaborating if they aren’t early sufficient. Many Worlds fixes the barrier to entry difficulty by having a 3% purchase tax versus a 14%+ purchase tax.
Buying and selling quantity is vital to rewards-based methods since wallets are crammed by transactional taxes. The massive taxation instantly dissuades brief time period merchants from buying and selling the coin as a result of they might have hyper-successful trades to get previous the 30% in transactional taxes plus the federal government tax on their earnings. Up thus far, you may see that present rewards methods successfully dissuade all calibers of merchants from collaborating of their system, a system that’s depending on participation. Many Worlds additionally addresses this drawback in two methods. The primary is relaying again to our dynamic system. Degree 1 tokens are tokens which might be youthful than 8 days outdated and have a gross sales tax of solely 3%. Subsequently a short-term dealer wants lower than 6% to make it price buying and selling versus needing 30% to make it price buying and selling. As well as, a each day sweepstakes happens at 7 pm EST, the place a portion of the taxes is distributed to 10 winners who’ve traded that day.
The ultimate core difficulty is the waste of capital. First, most rewards-based methods are copy and pastes of Evergrow (EGC) which pays out rewards each hour. This incurs monumental quantities of fuel charges that could possibly be cash spent higher elsewhere. With Many Worlds tokenomics, rewards are distributed as soon as per week, each Monday morning. This slower distribution coupled with our Web3 Optimization Software program, we’re capable of considerably scale back the prices behind rewards-based methods to place our capital to higher use.
Second, due to the barrier to entry and low buying and selling quantity issues, a big quantity of capital must be used for advertising and marketing to aim to draw new traders which takes power, time, and most significantly, cash away from the event of utility for the venture. Our token gives a rewards-based surroundings for long-term holders to experience and a playground for short-term merchants to take pleasure in.
This enables us to place nearly all of our capital and a focus into additional improvement on the venture since now we have a wholesome and natural buying and selling surroundings for members to profit in moderately than needing to consistently entice new traders.
5. The platform had a profitable presale breaking information by elevating 450 BNB in lower than 2 minutes. What did you consider this type of reception amongst customers?
This was extremely overwhelming. We gave three days for our pre-sale and started approaching recognized traders as a startup. Nonetheless, with a group of solely 300 members on the time, we have been capable of promote out your complete pre-sale in 3 hours.
Watching 450BNB seem in 2 minutes was surreal, not solely as a result of now we have nearly zero consciousness on this venture, however as a result of we additionally restricted every investor to 25BNB. This response confirmed that past a shadow of a doubt, we had a staff and product price backing. It’s very thrilling to see how traders react to what we’re doing, and as consciousness for the venture grows, so will that pleasure.
6. Many Worlds goal is to attach ‘Metaverses cross-chain or in any other case.’ How is the platform planning to do that?
Modularly and progressively as we do with all of our coding. Each merchandise on the roadmap is a element that has options/software program essential to execute the ultimate imaginative and prescient of connecting the metaverses. So first we begin with our personal ecosystem, then work on the protocols to attach shoppers to our ecosystem, then join our ecosystem to a different ecosystem, and scale from there till we’re connecting metaverses cross-chain.
7. Inform us extra in regards to the Many Worlds ecosystem?
- Many Worlds Token: The governing token of the ecosystem
- MANY Change App: A easy and barrier-free cellular utility to assist customers purchase MANY with out the complexities that scare folks away from crypto. Folks will primarily have the ability to buy MANY as simply as they’ll use Venmo or CashApp. Eradicating these boundaries permits folks exterior of the present crypto house to simply make investments and take part within the Many Worlds Ecosystem.
- Blockchain Asset Injection: It will enable for NFT and Crypto property to maneuver seamlessly throughout a number of blockchain and metaverse platforms. There can even be an SDK to permit sport builders to make their video games suitable with blockchain asset injections.
- Many Worlds Buying and selling Publish: An NFT creation, customization, and buying and selling platform which can even operate as a portal to inject NFT and crypto property into varied blockchains and gaming ecosystems. Makes use of our blockchain asset injection protocols to permit NFT property to maneuver seamlessly into and out of a number of blockchain and metaverse platforms. Makes use of out MANY change software program to permit straightforward fiat to crypto ramping with out complexities, which empowers on a regular basis folks to take part in crypto.
- Enlargement into leisure: Our NFT buying and selling publish will enable customers to inject their very own NFT personas into comedian books, animated TV collection, and different works with ease. We can even host unique NFT collections from varied celebrities and influencers with whom we’re forming partnerships.
8. What lies forward on the Many Worlds roadmap? Does the platform have any partnerships and collaborations deliberate out?
Within the subsequent few weeks, we can have the primary model of our Change app prepared to be used. The Many Worlds venture is only one month outdated and our partnership with CloudPayments permits us to deliver this to market shortly with the suitable licensing. By the top of the primary quarter, we’re aiming to have the Change App, the NFT Buying and selling Publish, and the NFT Customization platform’s first variations prepared for beta testing.
For extra data on Many Worlds Token, please try their official website.
Disclaimer: This can be a paid publish and shouldn’t be handled as information/recommendation.
