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What Is MITH Cash (MIC)? Complete Guide Review About MITH Cash.

What Is MITH Cash (MIC)?

The MITH Cash Pad has a default compensation mechanism to protect users who participated in auctions. Before auction is online, issuer needs to pledge a certain amount of CEP or stablecoins for potential default compensation. If there is a default on an auction, buyers can get their compensation with CEP from the issuer. In different development stages of Chemix Ecosystem, they will encourage your users to participate in different scenarios with CEP incentives, for example, in Dutch Auctions, CEP can be used as “auction mining”.

When users invest in auction contracts, they can get CEP rewards with certain rules. In Chemix DID, a user can mint DID NFT with the burning of CEP tokens. They will create a series of algorithms on your users’ behaviors to form different credit scores, user will enjoy many benefits with the Chemix DID NFT in Chemix Eco. CEP holders can participate in governance voting to decide the future development of the Chemix Ecosystem.

MITH Cash Storage Key Points

Coin BasicInformation
Coin NameMITH Cash
Short NameMIC
Circulating SupplyN/A
Total SupplyN/A
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Official Project WebsiteClick Here To Visit Project Website

Experimental decentralized synthetic assets protocol

At present, it is generally believed in the industry that stablecoin has gone through five development stages based on technical architecture, which can be roughly divided into five generations:

  • The representatives of the first-generation of stable coins are USDT, BUSD, etc., These stable coins take fiat currency as backed assets, issuing tokenized fiat pegged stable coins. These projects build an important bridge between physical value and crypto value. Its characteristic is centralized operation, which requires the issuing institution to be recognized by the industry.
  • The second-generation stablecoin tries to build a decentralized stablecoin from a technical point of view. Starting from bitUSD of project BitShares, which formed a huge category represented by MakerDAO’s DAI and QIAN’s QUSD after the iterative update. Taking QIAN V1 as an example, in order to obtain a larger circulation and a wider range of underlying assets, crypto assets other than ETH are introduced, such as BUSD and WBTC.
  • MITH Cash while the underlying crypto assets expand, some decentralization characteristics are lost. The biggest drawback of the second-generation stablecoin is that the risks of the underlying crypto assets are easily transmitted to the whole stablecoin protocol, thus causing the inherent value fluctuation of the stablecoin. In addition, there are problems such as the low utilization rate of funds caused by over-mortgage.

Price stability

The third-generation MITH Cash tries to build original stablecoin of the cryptocurrency industry, represented by the elastic stable coin AMPL and YAM. These stablecoins do not need to use collateral and are regulated mainly through algorithms. Through the test of the market, elastic stablecoin is insufficient in terms of price stability, and the rebase logic makes it difficult for the smart contract of elastic stablecoin to be combined with other DeFi protocols, which limits the development space of this kind of stablecoin.


The representatives of the fourth-generation stablecoin are algorithmic stablecoins such as ESD and BASIS CASH. This kind of algorithmic stablecoin refers to the previous design of Basecoin and combines the mode of liquidity mining and elastic offering, avoiding the direct rebase adjustment in the stablecoin contract, and having more possibility of ecological combination with DeFi.

MITH Cash latest fifth-generation stablecoin is a fractional-algorithmic stablecoin represented by FRAX. By introducing a partial mortgage mechanism, the stablecoin is easier to launch, and accord with the concept of pure on-chain assets. With volatility lower than pure algorithm stablecoin, this stablecoin type will most likely get extensive applications in the future.

Technical Evolution

The fractional-algorithmic adjustment mechanism of the fifth-generation stablecoin is the most consistent with the technical evolution goal of Chemix Labs. As the first synthetic asset of Chemix Labs, the technical route which QSD chooses is based on fractional algorithmic.

MITH Cash is a fractional-algorithmic synthetic assets protocol that is open-source, permission less, and entirely on-chain. The goal of Chemix Labs is to establish a highly scalable, decentralized, algorithmic assets management system, consistently upgrade the technical basis for the development of Chemix Ecosystem.

Nile Is Very Old Author At Wootfi Blog . We Loves To Write About Altcoin , ICO & Defi . In Free Time He Loves To Play Football .