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Another ASK about The Ethereum BRIDGE...
Minting was mentioned, what would the criteria for that be... What are we looking at in terms of payout per 1,000,000 millix MINTING?
And what would the time intervals for payments be?
Sorry for all the questions :)
| 51,000 mlx | |
| 47 | |
| 11 |
The Millix Bridge has two elements: an agent connected to a millix node and an ethereum node and a smart contract on the ethereum network.
To convert millix to wrapped millix, you send the millix to the agent. The millix is held with the agent. The agent instructs the smart contract to mint the equivalent amount of wrapped millix on the ethereum network.
The same procedure works in reverse, causing the smart contract to burn wrapped millix and the agent to send millix to some destination.
I'll have a diagram posted to the tangled.com/g/millix group.
To convert millix to wrapped millix, you send the millix to the agent. The millix is held with the agent. The agent instructs the smart contract to mint the equivalent amount of wrapped millix on the ethereum network.
The same procedure works in reverse, causing the smart contract to burn wrapped millix and the agent to send millix to some destination.
I'll have a diagram posted to the tangled.com/g/millix group.
Millix will be listed on Uniswap first, where you can earn transactions fees from trades by depositing (kind of staking) USDT or Millix into the exchange liquidity pool.