Mute is a DEX exchange on zkSync. It has three main functions:

Mute. Switch: an AMM model, a decentralized exchange that also supports limit orders;

Mute Amplifier: a staking mining platform with a complete set of APY mining algorithms, with the purpose of motivating everyone to become Switch members LP of the pool;

Mute Bonds: It is a bond market that sells LP tokens directly in exchange for Mute tokens. Its purpose is to maintain the liquidity of the pool and also help users purchase governance tokens at a lower cost. MUTE

Among these three functions, the core one is the Mute Switch exchange, and the other two are incentive mechanisms developed to maintain the liquidity of this exchange. The features of this exchange can be briefly described as three: 1. Support limit orders. (Not ready yet) 2. Supports two AMM algorithms, which are suitable for stable currency pairs and ordinary currency pairs respectively (stable currency is more similar to the Curve model, and ordinary currency is similar to Uniswap's constant product model). 3. Built on zkSync, it has gas saving and settlement speed performance.

How to use Mute exchange to purchase tokens?

Step 1: Switch Metamask to the zkSync Era mainnet (make sure you have enough gas fees). As for how to add the zkSync Era mainnet, please see above. Step 2: Open https://mute.io/ and click Enter app. After the jump, it should automatically request a wallet connection. Connect your wallet to Mute.

Step 3: Select the token you want to trade. The left side of the product interface shows a trading pair pool with high trading volume and good liquidity, which is very user-friendly. After selecting, click Swap, and Metamask will automatically pop up the name of the contract to be interacted with and the estimated gas amount.

Step 4: Click to confirm swap in Metamask. It should take less than a few seconds (the network speed in zkSync Era is very fast) and you will receive a message that the transaction is successful. !

Step 5: Don’t forget to import the new tokens you bought into your wallet. All you need is the address of a token contract, which can be easily found on the TokenInsight token details page (taking MUTE as an example).

Please note that according to Mute’s official response in its Discord community, the limit order function has not yet been fully developed. Stay tuned with us for more updates once they release this feature.

Why become a liquidity provider?

Of course it’s to make more money! Depositing two tokens into the liquidity pool creates liquidity and starts charging fees continuously. You will also be awarded LP tokens, which represent ownership of your share of liquidity in the pool. The handling fees generated in the transaction will be uniformly included in a vault, which is also a smart contract that allows LP position holders to receive the fees earned based on their LP token share.

How to become an LP in Mute?

Click on the "Pool" section in the top function bar. It will display a list of all pools in which the required LP pool is found. Click "manage" on the right to enter a new page showing more detailed data for the pool. In the Deposit column on the right, enter the specific value of liquidity you want to add, and continue to click Approve. The system will automatically pop up the metamask page, click approve to complete the interaction.

After completion, return to the Pool page and you will see the Liquidity you participated in displayed at the top.

After providing liquidity for a given token pair, you can stake your LP tokens in a designated gain pool. This helps you earn more MUTE rewards. Alternatively, if you are in urgent need of cash liquidity, you can sell your LP tokens in the "Bonds" section shown below.

Mute can sell LP directly

Bonding is the process of selling MUTE-ETH LP shares to Mute DAO in exchange for MUTE native tokens. The protocol quotes a certain number of MUTEs and a lock-in period for the transaction.

If you want to sell LP tokens, this part of Bonds can directly meet your needs. The benefit of Bonding is that it allows users to purchase Mute native coins at a lower cost. This Bond is sold on a first-come, first-served basis, and its ROI starts at 0% and increases until it is bought. Once a bond is purchased, the total locked amount of Mute you can claim will be unlocked linearly within 7 days. Also called dMute, it is an equity token with a 7-day time lock. After 7 days, the dMute received can be directly exchanged for MUTE, or re-locked for a longer period.

Example: Exchange bonds with a current ROI of 15% for $15,000 worth of MUTE/ETH LP. Bonding will sell MUTE/ETH LP tokens worth $15,000 to Mute DAO. In exchange, it will receive dMute tokens with a potential Mute value of $15,000 * 1.15 = $17,250, which will be locked for 7 days and can be withdrawn after seven days. Walk.

The specific operation is to click to go to the Bonds page, find the LP position you want to sell, and then click the "Bond" button.

Note: In this detailed page, the overall performance of your LP position, including ROI, will be displayed. However, if your ROI is negative, you won’t be able to sell.