The use instances and potentialities of blockchain expertise are increasing at a price the place it’s being utilized in all spheres of life. Blockchain platforms are competing in opposition to one another to usher in applied sciences which are distinctive in their very own method. 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 revolutionary DeFi token constructed on the Binance sensible chain community that goals to leverage blockchain platforms to reinforce their shopper expertise and function the governing token for blockchain options in numerous 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 way more.
1. Inform us extra in regards to the imaginative and prescient behind creating the Many Worlds platform? What drawback does the platform purpose to unravel within the area?
Regardless of present market circumstances, mass adoption is properly on the way in which and Many Worlds is positioning itself to learn from many alternative aspects of this adoption. Our enterprise has three core parts. Tokenomics, Utility, and Leisure.
From the tokenomics perspective, we now have two main objectives, one among which has been achieved and the opposite presently in improvement. The issue we already solved is the present method rewards-based tokens function. The concept of secure coin rewards is an exceptional one, nevertheless it comes with a 14%+ purchase and promote tax making it inconceivable to scale or present long-term progress potential. We solved this drawback by creating the world’s first dynamic tokenomics system, permitting completely different tokens in your pockets to have completely different intrinsic values.
Successfully, we’re in a position to produce the identical, if no more rewards than present techniques however with solely a 3% purchase tax. The opposite facet of tokenomics is our motion into the fintech area as mass adoption continues to develop. We’ve partnered with CloudPayments and within the coming weeks, we might be releasing an answer that enables people into the DeFi area with direct FIAT transactions. As we proceed to develop the software program and shut partnership offers, we inch in direction of turning into the Stripe of the crypto area.
The utility being delivered is regarding the metaverse. We frequently seek advice from the metaverse in a singular method as if there might be one, however that’s merely not the case. The truth of the metaverse is that it will likely be a multiverse, which would require bridge utility to interconnect all property and platforms, permitting a person to seamlessly traverse this multiverse without having a number of governing tokens or login portals.
Our phased method begins with the event of our cost processing software program permitting us to contain the 96% of the world not but concerned in crypto, then giving them an ecosystem to get pleasure from 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 corresponding 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 area. Our NFT Customization Platform will enable a customized, distinctive NFT’s to exist inside our world. One of many dev group members is an govt within the leisure business who has launched animated TV collection on platforms corresponding to Disney+ that offers us the aptitude to make this a actuality. We’ve our personal story and artwork which will be seen on the web site at www.manyworldstoken.com. On this world, customized NFT’s will be capable of 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 useful for the customers?
As we method mass adoption with the fed inching in direction of the implementation of a central financial institution digital foreign money it’s sensible to construct a venture based mostly on the world’s largest crypto trade. This presents a regulatory defend and a strong associate as we proceed constructing out our venture. Past Binance itself and regulation, the underlying expertise is superior by way of pace, price, and ease of improvement.
Whereas Binance could be the largest crypto trade, the blockchain BSC remains to be fairly new being simply over a 12 months outdated and has plenty of progress potential contemplating Ethereum, the costlier various on this planet of sensible contracts, holds an awesome quantity of the market share. In brief; regulation, liquidity, and underlying expertise are all the reason why we selected to make the most of the facility of the Binance Good Chain.
3. Based on you, what makes the Many Worlds platform stand out from the remaining within the area? 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 feel the primary and most necessary is the group behind the venture. In crypto, particularly on BSC, there are a plethora of initiatives with guarantees of utility but their sensible contract is a duplicate and paste of another profitable venture and their groups will not be doxed, KYC’d, or audited. Not solely do we now have a doxed and KYC’d group 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 intervals of time. Our business-savvy method places us in a beautiful place to work with regulators as mass adoption continues to develop. We aren’t making an attempt to cover from regulators or benefit from the Wild West that’s crypto, however as an alternative 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 completely different intrinsic values. We’ve an growing older course of constructed into the contract which implies the second you buy tokens they start to age. The older the tokens are, the upper stage they’re, and the extra rewards which are produced by that lot of tokens. For instance, if you happen to had been to buy 10 tokens in the present day, you’ll be buying 10 stage 1 tokens that might start to age. Tokens turn into stage 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 stage 1 tokens and 10 stage 2 tokens). Rewards as much as stage 3 are based mostly on the present tax based mostly system. The necessary function is the flexibility for tokens to age and characterize differing intrinsic values offering completely different interactions with the sensible contract relying on the tokens age.
4. Many Worlds has an revolutionary reward-based system that offers scalability to the stablecoin rewards system on-chain. Inform us extra about it?
All present rewards-based techniques are based mostly round various types of tax tokenomics. Scalability is the important thing difficulty in all stablecoin rewards techniques which we now have addressed and corrected. There are three core points with present rewards-based techniques: 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 with a purpose to fund the rewards. To place that into perspective, a very break-even commerce would end in 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 price. The one ones who will ever profit from excessive tax rewards techniques are the earliest to enter. This barrier to entry dissuades long-term buyers from taking part if they don’t seem to be 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 techniques since wallets are crammed by transactional taxes. The big taxation instantly dissuades quick 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 income. Up thus far, you may see that present rewards techniques successfully dissuade all calibers of merchants from taking part 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 are 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 value buying and selling versus needing 30% to make it value buying and selling. As well as, a every 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 techniques are copy and pastes of Evergrow (EGC) which pays out rewards each hour. This incurs monumental quantities of fuel charges that might 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 in a position to considerably cut back the prices behind rewards-based techniques to place our capital to higher use.
Second, due to the barrier to entry and low buying and selling quantity issues, a major quantity of capital must be used for advertising and marketing to aim to draw new buyers which takes vitality, time, and most significantly, cash away from the event of utility for the venture. Our token gives a rewards-based atmosphere for long-term holders to enjoy and a playground for short-term merchants to get pleasure from.
This enables us to place the vast majority of our capital and a focus into additional improvement on the venture since we now have a wholesome and natural buying and selling atmosphere for individuals to learn in relatively than needing to always entice new buyers.
5. The platform had a profitable presale breaking information by elevating 450 BNB in lower than 2 minutes. What did you consider this sort of reception amongst customers?
This was extremely overwhelming. We gave three days for our pre-sale and started approaching recognized buyers as a startup. Nonetheless, with a neighborhood of solely 300 members on the time, we had been in a position to promote out all the pre-sale in 3 hours.
Watching 450BNB seem in 2 minutes was surreal, not solely as a result of we now have just about 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 group and product value backing. It’s very thrilling to see how buyers react to what we’re doing, and as consciousness for the venture grows, so will that pleasure.
6. Many Worlds purpose 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 part 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 software to assist customers purchase MANY with out the complexities that scare folks away from crypto. Folks will primarily be capable of buy MANY as simply as they will use Venmo or CashApp. Eradicating these obstacles permits folks outdoors of the present crypto area to simply make investments and take part within the Many Worlds Ecosystem.
- Blockchain Asset Injection: This can enable for NFT and Crypto property to maneuver seamlessly throughout a number of blockchain and metaverse platforms. There will even be an SDK to permit recreation 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 will even operate as a portal to inject NFT and crypto property into numerous 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 trade software program to permit simple fiat to crypto ramping with out complexities, which empowers on a regular basis folks to take part in crypto.
- Growth into leisure: Our NFT buying and selling put up will enable shoppers to inject their very own NFT personas into comedian books, animated TV collection, and different works with ease. We will even host unique NFT collections from numerous 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 could have the primary model of our Change app prepared to be used. The Many Worlds venture is just one month outdated and our partnership with CloudPayments permits us to convey this to market rapidly 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: It is a paid put up and shouldn’t be handled as information/recommendation.
