‘Myrillion’ Will Integrate ‘Bancor’ In Its Strategy
Myrillion’s digital currency, MYL, will integrate the Bancor Protocol for continuous liquidity, allowing MYL to be instantly convertible for any token in the Bancor Network.
Based on Ethereum, the Israel-based startup, Bancor, is providing the possibility to convert between different digital coins. All the tokens can be trade thanks to Bancor’s liquidity mechanism, which ensures the convertibility of integrated tokens.
Bancor has raised, last year, approximately $153 million in its Token Generation Event, and currently has more than 100 different currencies in its network, all of them having the standard ethereum’s model, ERC20. Therefore their network makes Myrillion ecosystem reliable, safe, and convertible for different currencies.
Myrillion users will be able to buy and sell Myrillion without any fees, and with no intermediaries. Myrillion is joining the Bancor Network on December 10th, following the conclusion of the Myrillion token sale.
What is Myrillion?
The entertainment world is changing and evolving along with technological and digital development is invading our daily lives.
The way people are consuming media or any entertainment is not the same as it was ten years ago.
Myrillion is a decentralized digital platform struggling to have the most transparent, fair, interactive, and reliable connections among the entertainment professionals, and individuals.
Entertainment is an incredibly tough world with a lot of differences, difficulties, and scams. Myrillion aims to provide a digital currency based platform where you can share your work directly with users without having an expensive third party involved. Even if so, like a manager or a representative actor, with smart contracts, the artists can establish their manager’s equity through the settled partnership. That means with, no other way to prove the agreement, smart-contracts will establish the percentage of both parties (the artist and his manager) have agreed. Through Myrillion wallet, the payment will be precisely and automatically distributed, without needing to discuss demands, rights, or value proposition.
With a blockchain and smart-contracts’ based platform, Myrillion allows its users to tip their favorite artist for his performance, watch and get access to live shows, regardless of their physical location, and, for last but not the least, Myrillion is pursuing an effective and easy way to trace intellectual works, even though it is currently difficult to guarantee its inviolability.
What about Bancor?
The Bancor Network is a decentralized liquidity network that allows you to hold any token and convert it to any other token in the network, with no counterparty, at an automatically calculated price, using a simple web wallet. The project is inspired by John M.Keynes’ economic proposal from the 1940s. Theoretically speaking, Keynes was seeking a method enabling a central currency to help and facilitate transactions among different nations, during World War II. The idea was to help less developed and established countries whose currencies were not that valuable. This way, these nations could overcome their constant debt.
Applying and transporting this concept to Bancor, the network is a decentralized liquidity platform to give a safe and controlled environment many different currencies.
Myrillion will, therefore, with Bancor’s help, simplify its users’ transactions and purchases in the Myrillion ecosystem. In other words, through Bancor system, any user trying to apply a different currency other than MYL, like DAI or BNB, will be able to make the conversion in Bancor and use its equivalent value in the Myrillion ecosystem.
The integration will become available to public platforms the day after Myrillion’s last public ICO closing date, on December 10th 2018.