0
0
The emergence of Web3 is disrupting the internet as we know it. Web3 aims to decentralize the web using blockchain technology and empower users by giving them ownership. This has created a new class of blockchain-based domains called Web3 domains. Web3 domains provide users with censorship resistance, privacy, interoperability, and monetization capabilities.
One such Web3 domain provider making waves in the industry is Mango Tree its.MMIT domains. Mango Tree has introduced its utility token, the MMIT token, unlocking a host of user benefits. Let’s take a deep dive to understand what the MMIT token is and how it is powering the Web3 domain ecosystem of Mango Tree.
An Introduction To MMIT Token
MMIT token is the native utility token of Mango Tree. It is built on the Binance Smart Chain as a BEP-20 token. Holding MMIT tokens allows users to access various products and services within the Mango Tree ecosystem. The total supply of MMIT tokens is capped at 10 billion.
Here are some of the critical features of the MMIT token:
- Scarcity – Capped supply ensures scarcity, which helps appreciate the value of the MMIT token.
- Utility – MMIT unlocks utility in the form of discounts.MMIT domains, governance rights, staking rewards, etc.
- Liquidity – MMIT is listed on decentralized exchanges like PancakeSwap, providing liquidity.
- Value Accrual – Increased adoption of.MMIT domains and the Mango Tree platform led to a rise in MMIT value.
Benefits Of Holding MMIT Tokens
Holding MMIT tokens unleashes a myriad of benefits for users. Let’s take a look at why you should hold MMIT tokens:
Discounted.MMIT Domains
One of the core benefits of holding MMIT tokens is getting discounted.MMIT domains. Based on your MMIT holdings, you can get up to 50% discounts.MMIT domains. This allows you to secure Web3 real estate.MMIT domains at a fraction of actual costs.
Yield Farming To Earn Passive Income
Mango Tree has yield farming programs that allow you to stake your MMIT tokens to earn attractive APYs up to 150% as passive income. The yields are lucrative compared to traditional financial instruments.
Voting Rights In Governance
MMIT tokens will provide governance rights to the holders. You can participate in crucial governance decisions like token economics changes, new feature additions, etc. This gives you a say in the future direction of Mango Tree.
Access To Exclusive Features
Mango Tree plans to launch many exclusive features and products that will only be accessible to MMIT holders. For instance, only MMIT holders may gain early access to new domain category launches on Mango Tree.
Discounts On Renewals
Renewal fees for.MMIT domains need to be paid periodically. MMIT token holders can get discounts of up to 50% on their.MMIT domain renewals. This provides long-term savings.
Liquidity Mining Rewards
Mango Tree’s liquidity pools reward liquidity providers with MMIT tokens. Adding liquidity to supported pools earns you MMIT tokens as an incentive apart from the usual trading fees.
Use Cases Of MMIT Token
Now that you understand the benefits of holding MMIT, let us look at some of its critical use cases:
Domain Registration & Renewals
The core use case of MMIT is getting discounted.MMIT domains during initial registration as well as subsequent renewals. More MMIT holdings lead to higher discounts.
Staking On The Platform
Users can stake their MMIT tokens on the native Mango Tree staking dApp to earn up to 150% APY yields. Higher stakes attract more significant rewards.
Governance Voting
MMIT holders can participate in governance polls and proposals to decide key parameters and directions for Mango Tree. Their vote weight depends on MMIT holdings.
Payment For Services
Users can opt to pay for selected services on Mango Tree, like promoted content boosting using MMIT tokens and avail discounts.
Defi Interactions
MMIT token will be integrated across DeFi products like DEXs, lending/borrowing protocols, etc., expanding its use in DeFi.
Accessing Web3 Apps
In the future, MMIT could be used to avail discounts or purchase subscriptions for Web3 apps built on Mango Tree domains.
The Growth Potential Of MMIT Token
MMIT has strong growth potential as Mango Tree expands further. Here are some growth factors to consider:
- Mainstream Web3 adoption will drive demand for.MMIT names leading to appreciation of MMIT value.
- New products and services launching on Mango Tree will expand the utility scope of MMIT, unlocking more use cases.
- Domain renewals required periodically will ensure recurring demand and sink for MMIT tokens.
- Mango Tree’s global expansion aims will increase the addressable market for MMIT tokens.
- Speculation by investors and traders will add to the existing organic demand and boost MMIT’s value.
- Integration of MMIT with popular DeFi protocols can enable new financial use cases.
Conclusion
MMIT token offers the most convenient path to foray into the futuristic world of Web3 via Mango Trees.MMIT domains. It unlocks benefits like discounted domains, staking yields, governance rights, early access, and more. MMIT’s multi-utility nature, coupled with a deflationary supply, positions it attractively to accrue long-term value. The ongoing Web3 revolution only expands this token’s total addressable market and use cases. Therefore, MMIT looks poised to be a promising bet for forward-thinking crypto investors.
