Martkist Wrapped Token (wMARTK), what will it do?

Martkist Wrapped Token (wMARTK), what will it do?

By Paraguanads | Cryptalk | 6 Aug 2020


Thanks to the rise of decentralized finance (or DeFi for its acronym), the Martkist team aims to catch up with such technology by adopting an ERC-20 token redeemable 1: 1 with its peer, the MARTK mineable original coin.

I am not very clear, could you mention some examples?

There are many examples of wrapped tokens of known coins (Wrapped Ether, wETH; in addition to the Wrapped Bitcoin, wBTC, to mention the most popular ones), with the values ​​of each of the assets being the exact 1: 1 pair to the value of the currency; all this for the use of such assets through the Ethereum network and thus enjoy the benefits of the collectibles markets.

There are other Blockchain networks like TRON and Stellar, why exactly use the Ethereum network?

There are many dApps currently hosted on the Ethereum network, empowering it (credibility and support) and encouraging people to invest in assets that are part of it. A network that can host, in addition to ERC-20 tokens, another variety that has become very popular lately with the assets earned in some games such as Gods Unchained, whose game cards, when merged (two equals) become an ERC-721 token transferred directly to the owner's Ethereum wallet, thus converting this asset into a property that will be maintained over time until it is transferred through the channels arranged for it (markets such as TokenTrove, OpenSea, among others.)

What does Martkist gain from this adoption?

Martkist bets once again on innovation through the ERC-20 wMARTK token by allowing it to be part of the Uniswap and Saturn exchange networks, in turn contributing to its liquidity and giving its users and its team members the opportunity to educate about DeFi, which, to this day, is revolutionizing the finance market by being self-sustaining systems (without any governing body or intermediate bank), while retaining the privacy, security, and immediate control of assets by its users. DeFi represent the new world banking, always aiming at technological excellence.

Why are investors betting on DeFi?

The reasons are many: Conventional banking and brokerage systems do not turn out to be very attractive for those who believe technology as a fundamental pillar of organized society (in addition to values and ethics). Corruption through human bureaucracy drives away investors who prefer to give the power of their finances to constantly developing computer systems - without this having to do with some kind of human intervention - than to people who are capable of “running away with money” or make huge mistakes through investments without any risk measurement.

In reference to Martkist, the project's main mission (10 years of constant mining and distribution), is perfectly compatible with the adoption of DeFi in the ecosystem, by allowing investors in Martkist to earn money on their savings and investments with the currency, thus improving the economy of its holders, not being necessary to run a masternode or mine to obtain the currency.

Do you have an exact date for the official launch of the Martkist ERC-20 token?

There is no exact date, but the contract has already been created. As soon as the details for its launch are refined, it will be announced through the official channels of Martkist: its Twitter account in English, its Discord server (enter to meet the team and compete for MARTK coins) and its website.


Paraguanads
Paraguanads

Lawyer, IT, writer, and everything else that I am, and I am not.


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This blog has been created in order to talk about the new Blockchain technologies that are entering the ecosystem, and that have not received the credit they deserve for not being "famous", but that promise to touch the moon very soon with their wonderful benefits in comparison to preset and dirty technologies.

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