On the brink of a new bull run, a groundbreaking concept is knocking on the blockchain community’s door: MSTs aim to lead the SocialFi narrative.

The premise is straightforward—these tokens represent on-chain versions of various influential social profiles, such as elite athletes, content creators, or influencers themselves. 

This idea complements the SocialFi narrative, which merges the best aspects of decentralized finance (DeFi) with the best of social platforms. The revolutionary concept of MSTs is generating significant attraction, and we’re here to tell you more about it.

It appears that SocialFi will become the dominant narrative in the coming months with the onset of the bull run. MSTs aim to set the standard by bringing social profiles on-chain. 

But how do they work? MSTs are ERC-20 tokens running on the Binance Smart Chain, enabling a sustainable economy in the long term that benefits users. Thus, anyone can easily acquire various MSTs linked to different social profiles on Gamium, which acts as a sort of Uniswap, facilitating the exchange of these unique assets.

Any active user can launch their own MST or that of another creator who has not yet joined the platform. In either case, a portion of the total supply will go to the holder of the X profile. If the creator launches their MST, they will have 10% of the supply; otherwise, 9.75% (with the remaining 0.25% going to whoever launches the asset), with the other 90% always reserved for public liquidity accessible in the market.

MSTs are unique, finite, and deflationary, and they offer many advantages to holders, which we will now explain. Each MST is linked to a social profile and has a maximum supply of 1,000,000, which will continuously decrease through deflationary mechanisms (burns), thereby increasing the value of the remaining tokens.

Moreover, holding MSTs comes with many advantages. The most obvious include:

– Gamium features a referral system that generates a 0.5% commission for each transaction made by referrals.

– The top holders (those who have more than 0.25% of the supply of a specific creator’s MST) will enjoy Real Yield.

– MST holders will have access to exclusive immersive 3D experiences, such as access to the creator’s house and socializing with them.

The influence of social profiles is one of the factors that will determine the value of MSTs, along with others mentioned like supply or deflationary mechanisms. In this new decentralized social narrative that allows for the monetization of social profiles through tokenization, the more influential one is, the demand for a specific MST will grow.

For example, if a creator gains international fame at a certain moment, the demand for their MST could increase significantly due to new fans joining their community.

All transactions related to MSTs are carried out on Gamium. In this case, the platform acts as a decentralized exchange where users can trade and exchange their MSTs, as well as launch them to the market. All in one place.

But there’s more. In addition to acting as a sort of Uniswap for social profiles, Gamium also serves as a decentralized social platform with 3D environments, allowing people to interact. These features have brought Gamium back into the spotlight, months after making news for a collaboration with Meta, which went viral.

Gamium’s SocialFi platform not only enables the launching, holding, and trading of MSTs but is also designed to maximize engagement for active users. Key to this is the Socialize-to-Earn system, along with the Airdrop Points mechanism.

The referral system is crucial. Each user is given five unique referral codes to share with anyone they choose. Therefore, it’s important to select wisely who to share this Gamium experience with, as the success of your referrals will positively impact your own rewards.

Referrals also play a vital role in earning Airdrop Points, Gamium’s innovative gamification strategy for its most active users. In this way, the platform rewards those who demonstrate their commitment through transactions, daily tasks, or the aforementioned referrals.

Gamium’s MSTs are intended to become the new standard for SocialFi storytelling. By incorporating social profiles into the blockchain, the most active users will be able to trade their favorite profiles’ tokens and profit from owning them. 

To be part of the Gamium beta, you’ll need a code – look for it among your favorite content creators or in the community! Join and be among the first to be part of the MST revolution.

Join the beta here 

Disclaimer: The information provided in this article is for informational and educational purposes only and is not intended to be financial, legal, or investment advice.

Follow Gamium across it’s social network channels.

Twitter | Instagram | Medium | Website

The post What are MSTs and why is everyone talking about it? appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

148 +