Confidentiality has continued to be a critical issue, especially in the cryptocurrency sector where all transactions are recorded on the blockchain and made available to the public. As a result, developers have made it a priority to create a project that enhances user privacy, making it difficult to track users’ on-chain activities.
One project that has garnered considerable attention is Mystiko.Network. So what exactly is Mystiko.Network? We’ll take a closer look at Web3 privacy enhancement plans leveraging ZK technology in the next article!
What is Mystiko.Network?
Mystiko.Network is a project focused on building infrastructure for Web3 leveraging zero-knowledge (ZK) technologies to improve security and anonymity within the cryptocurrency space. Mystiko.Network’s goal is to develop a universal ZK protocol and ZK software development toolkit to build highly secure and scalable privacy settings.
Mystiko also serves as a shared ZK layer for various components such as Layer 1, Layer 2, wallets, cross-chain bridges, decentralized exchanges (DEXs), and other decentralized applications (DApps).
Mystiko allows users to conduct cryptocurrency transactions without revealing personal information, ensuring maximum protection for their data. Mystiko.Network provides a more secure and private way to participate in cryptocurrency in the Web3 ecosystem.
Key features of the Mistico Network
Extensive connectivity with various blockchains: Mystiko.Network can leverage the zk-SNARKs protocol to establish connections with a wide range of popular blockchains, including Ethereum, BNB Chain, Solana, Polkadot, and more.
strong security measures: Mystiko protocol uses ZK technology to ensure maximum security of user asset information.
Competitive transaction costs: By leveraging zero-knowledge technology to increase scalability, Mystiko.Network offers trading with significantly lower fees compared to other platforms.
Full user permissions: Operating as a non-custodial platform, Mystiko.Network allows users to maintain complete control over their assets.
Improved user interface: Boasting a user-friendly interface and smooth trading process, Mystiko.Network provides a personal and convenient trading experience. The platform’s support for multiple blockchains and inter-chain bridges improves trading efficiency for users.
project product
- Cross-chain privacy bridge: Users can anonymously send assets to one blockchain and withdraw them from another without revealing transaction details to anyone.
- Mysticopay: Make payments on a private chain without revealing your transaction details to anyone. All incoming transaction details are secure and are especially useful for businesses and small users to prevent information disclosure.
- Secret Vault: Users can transfer assets to a secret address that is highly secure and completely private. Any wallet can provide these features to their users by implementing the Mystiko Wallet SDK.
- Private DEX: Users can trade on a private DEX similar to Uniswap while their asset privacy is protected. Current DEX platforms can implement the Mystiko protocol to add these features for their users.
token economics
XZK (ERC20) is a Mystiko.Network token.
XZK(ERC20) It is a token of Mystiko.Network, a platform built on top of the web3 base layer. The mystiko SDK allows for interoperability and secure interactions across chains. Mystiko.network v1 mainnet was launched on the Ethereum mainnet in 2023, with plans to expand to Polygon and Avalanche by 2024. The platform offers on-chain features such as auditable zk for on-chain privacy and Camo wallet for securely storing and transferring tokens. .
XZK Allocation
Initially, 1 billion XZK tokens were created. The initial distribution is as follows:
| category | allocation | Release Schedule |
| Private Round Sponsor | 200,000,000 | 1-year cliff after TGE, then 2-year linear vesting |
| Community Round Sponsor | 75,000,000 | 25% unlocked in TGE followed by 12 months linear vesting |
| Early User Rewards | 7,000,000 | 100% unlocked 1 month after TGE |
| Key Contributors/Advisors | 150,000,000 | 1-year cliff after TGE, then 3-year linear vesting |
| Ecosystem – Genesis Marketing | 50,000,000 | 18 months linear vesting after unlocking 25% in TGE |
| Ecosystem – Marketing and Community Building | 100,000,000 | 1 month cliff after TGE, then 4 years linear vesting |
| Ecosystem – Liquidity Rewards | 158,000,000 | 1 month cliff after TGE, then 4 years linear vesting |
| Ecosystem – Application Developers | 160,000,000 | 1 month cliff after TGE, then 4 years linear vesting |
| Ecosystem – General | 100,000,000 | 1 month cliff after TGE, then 4 years linear vesting |
* This is a preliminary allocation plan only and may be subject to modification.
Mystiko.Network Investors
Mystiko.Network has completed an $18 million seed round led by: Sequoia Capital India/SEA (Now known as: Peak XV Partner), Participation Samsung Next, Hashkey Capital, Mirana, Signum, CoinList, Naval Ravikant, Sandeep Nailwal, Gokul Rajaram, Tribe Capitaland Morningstar Ventures.
This funding round helps Mystiko.Network scale its platform and accelerate its mission to create a decentralized, privacy-centric social network that puts users in control of their data. The company plans to use the funds to grow its engineering and product teams, expand its user base, and continue building innovative features that prioritize user privacy and security.
Mystiko.Network has garnered attention in the market for its unique approach to social networking. This allows users to connect with friends and family while maintaining control over their personal data. The platform uses blockchain technology to encrypt user data and gives users the ability to control who can access their information.
“We believe Mystiko.Network has the potential to disrupt the social networking industry and usher in a new era of privacy-focused platforms,” said Muneeb Khan, Partner at Sequoia Capital India/SEA.
With the support of its investors, Mystiko.Network is poised for rapid growth and innovation as it continues to revolutionize the way people connect online.
Programs Mystiko.Network participated in
Previously, Mystiko.Network has also been selected to participate in prestigious programs such as: Binance MVB, Chainlink startup, and Coinlist Seed.
conclusion
By providing an overview of the Mystiko.Network project, Coinbold aims to provide readers with basic details about the project so that they can make informed investment choices. Good luck with your investments! If you have any further questions or need more information about Mystiko.Network, please visit our official website or social media platforms. Thank you for taking the time to read!