DUBAI – JANUARY 16, 2023 – The development team behind MYST Finance, an automated cryptocurrency bot and decentralized ecosystem, have pledged to initiate a new era for DeFi. Driven by the success of MYST, which generates steady profits for its community, its team is on a mission to make decentralized finance safer, transparent, and more sustainable.
Trust in decentralized finance plummeted in 2022 amidst a spate of rug pulls, bridge hacks, and stagnation. Coupled with a lack of innovation and a broader market downturn, this led to the TVL (Total Value Locked) in DeFi protocols dropping to its lowest level in two years. Launched in late 2022 at the bottom of the market cycle, MYST Finance has bucked the trend, enabling users to profit through sophisticated long and short trading strategies.
MYST’s algorithmic trading bot and dApp have been continuously optimized to attain an astounding sustainable rate of 76% success (7.6/10 trades are profitable) across all strategies and timeframes. With the dawn of a new year and the market moving upwards once more, MYST’s team believes the innovations they have pioneered will spark a new wave of DeFi use cases.
MYST disburses daily rewards to stakers in the form of BUSD and a corresponding amount of MXST tokens. These can be compounded throughout the minimum 28-day staking period to further boost returns. Non-tradable outside of MYST’s P2P DEX, MXST incorporates a unique tokenomic model that will spawn further use cases for blockchain assets.
MYST Finance will also be releasing a suite of new products designed to extend its DeFi capabilities and drive community engagement. A new lending feature is to be rolled out, enabling holders to lend BUSD OR MXST as collateral for stakers to participate in the MYST ecosystem. This can then be used for yield farming, trading, and other DeFi primitives on BNB Chain. As the MYST ecosystem expands, a shift towards a fully decentralized governance model will empower MXST holders to have a say on future development including protocol upgrades, new features, and integrations.
The next product to be released by the MYST Finance team is a relief fund for victims of rug pulls. It will incentivize the creation of more ethical and secure applications while providing support for users who’ve lost funds through no fault of their own. Once incorporated into MYST’s growing ecosystem, the relief fund will safeguard the growing community while providing further proof of DeFi’s ability to innovate and remain relevant through 2023 and beyond.
MYST is a multi-strategy trading bot that’s capable of acting upon different signals and timeframes. This maximizes its profitability, with onchain indicators also used to generate stronger trading signals. Through thousands of hours of back-testing and live trading, MYST has become extremely proficient at generating consistent returns. Early adopters of the MYST protocol will be able to experience the bot’s capabilities for themselves and reap the rewards.