New York, NY, June 16, 2021 - (ACN Newswire) -While the world is recovering from the Covid-19 epidemic, one sector that has recorded positive growth during this era is blockchain and decentralized finance. Despite lockdowns, this market sector has recorded phenomenal growth for the last half a year, with new projects emerging every day and the combined cryptocurrency market cap extending to over 1 trillion dollars as of June 2021, a figure that even exceeded 1.6 Trillion dollars during mid-May this year.
Musashi, a Japan-based project, has recently announced its Defi-based infrastructure featuring innovative blockchain products and solutions. It strives to innovate by leveraging blockchain infrastructure and blending modern age finance with heritage and culture. It aspires Miyamoto Musashi, the famous Japanese warrior and legend known for his swordsmanship skills, bravery, literary intellect, and philosophy that involves total devotion to a set of moral principles that demanded loyalty, dedication, and honor until death.
The Musashi.app blends blockchain-based innovation with rich Japanese heritage, history, and culture. It offers innovative financial products such as a dedicated utility token, a decentralized exchange, a blockchain-based gaming platform where everyone wins, staking and yield farming protocols, and an NFT based collectible marketplace.
By implementing the philosophy of the Musashi, the legend, the Musashi App strives to eliminate the role of centralized institutions and intermediaries, seeking to re-examine the financial conventions practiced by people up until now. Like the principles that Samurais and warriors fought for during the medieval decades, Musashi App is fighting against the modern-world manipulative powers, the financial institutions, and intermediaries.
Musashi Collectibles (NFT Marketplace)
Musashi NFT Marketplace is a key component of Musashi Protocol, which works on the vision to build an open infrastructure for enabling artwork, physical and digital, to be monetized, and ownership can be secured through the issuance and exchange of Non Fungible Tokens. It allows the exchange of NFT assets on the blockchain by leveraging hash signatures of object scans, NFC smart tags, and decentralized oracles. Its built-in smart contracts will manage unique asset identities, interest, and payment as a substrate-based application, enabling users to loan assets for token payout.
Using Musashi NFT Platform, artists can issue NFTs against their digital asset/arts and list in an NFT Marketplace. Issuance of Non Fungible Tokens means artists can secure ownership of their collectibles and artwork, as NFTs are stored on a secured blockchain network that is trustless, decentralized, transparent, and tamperproof. Furthermore, artists are enabled to monetize their NFTs by listing these on the Musashi marketplace to prospective buyers and art enthusiasts, who either purchase that peer-to-peer or bid for it.
Musashi adopts a Proactive Market Maker Approach for liquidity management, which mitigates the existing model's downsides and offers a liquidity mining-based fallible contract liquidity. It also provides a hardened price oracle that accumulates the two assets' relative prices at the beginning of each block. This allows other contracts on a blockchain to estimate the time-weighted average cost for the two assets over arbitrary intervals. Finally, it enables "flash swaps" where users can receive assets freely and use them elsewhere on the chain, only paying for (or returning) those assets at the end of the transaction.
To ensure maximum incentivization to users for their participation in the MUSASHI Ecosystem and to keep the integrity of the blockchain architecture, Musashi plans to adopt a staking model whereby users will be rewarded with additional MSS tokens for staking out their Musashi Tokens.
A Jackpot where everyone is a winner:
Musashi offers a gamified decentralized gaming platform and Jackpot pool, which works on the model of all winners, no losers. It is created to gamify savings, working in a way whereby lottery participants create and participate in a collective pool where one player wins all the yield earned on the participant's deposits in a pool while everyone keeps their initial deposits. Every week, three winners are announced, making sure that maximum chances are offered to all participants. As there is no entry or ticket fee, all users need to participate in keeping their MSS Tokens in the Jackpot Pool and performing yield farming or liquidity mining. Just like other mining pools in Defi projects, the MSS Jackpot Pool also incentivizes the users for their participation, with the distinction that all rewards are allocated and distributed to the winner only.
In its vision of offering decentralized fintech services and allowing maximum user participation within the ecosystem, Musashi provides a token sale activity whereby tokens would be available for public purchase for a limited duration. In this regard, the native token of Musashi App, i.e., MSS Token, a BEP-based token, will be available for purchase on the website, i.e., https://musashi.app. Prospect buyers of the token will be required to make payments in the crypto pairs mentioned below and get their tokens directly in the exchange-based MSS wallet after the Token Sale event has been ended.
SOURCE: Musashi Technology Inc
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