Mysterium Network will transition to updated ERC20 token with `permit`: 712-signed token approvals at the end of August

As the Head of Product of Mysterium Network, I am charged with everything from driving micropayments research to delivery of working applications on Android, Windows and Mac.

A regular VPN application is hard enough, but it’s even more challenging when we are seeking to decentralize the infrastructure through which the service is provided. Let’s add peer to peer and blockchain payments into the mix of network security, and you’re bound to have multiple shifting pieces that you’re building upon.

Here’s an update from me as Mysterium Network transitions into Mainnet.

I first want to quickly reiterate the goal of the MYST token migration.

We were looking to implement an easy way for consumers to top up their dVPN app accounts using ETH and for node runners to withdraw earned MYST into ETH (and maybe even DAI) automagically using a decentralized exchange. We wanted this to happen in a single transaction, so users would have the best possible experience.

Part of our process gearing up for real payments on Ethereum blockchain included the submission of two versions of our token to our security auditors (both ERC777 and ERC20 +ERC2612 versions).

Based on feedback from auditors, and our deeper research into current DeFi projects, we are making the decision to par back the scope of our token migration for the moment.
— read the full article on Mysterium Network’s blog.