Dynamix (DYNA) is a DeFi token built for freelancers and their employers. In particular, DYNA is the token for the Dynamix Mission App. The Dynamix Mission App functions as an escrow service for freelancers.
Dynamix (DYNA) is a DeFi token built on the Binance Smart Chain (BSC) blockchain. Dynamix contains a dynamic reflection contract. A dynamic reflection contract makes automatic tax adjustments to DYNA transactions.
The potential market for freelance services could be enormous. For example, Statista estimates there were 59 million freelancers in the United States in 2020. That number rose from 57 million in 2019 and 53 million in 2014. Therefore, Dynamix has 59 million potential customers in the United States.
They claim Dynamix (DYNA) will increase rewards and reduce taxes if a user holds DYNA for a long time. The DYNA smart contract also contains a scalable buyback and burn mechanism. They hope that mechanism will keep Dynamix’s price low.
No Fixed Transaction Fees
They claim the intelligent algorithm in the Dynamix Token adjusts transactions. Consequently, Dynamix has no set fees, instead they set fees based on the length of the contract.
For example, they charge a 17% sales tax on DYNA held for under a week. The tax falls to 14% for DYNA held for one week to one month. Plus, the tax falls to 8% for DYNA held for one to six months. The tax falls to 5% for DYNA held for over six months. The hope is to encourage people to hold DYNA for a long a time.
Moreover, they claim the Dynamix Reward System automatically increases rewards based on the number of holders. Dynamix offers Dynamic Rewards an algorithm that boosts rewards as Dynamix’s user base grows. For example, Dynamix claims the rewards will increase 8% if there are one million Dynamix users.
There’s also a Dynamic Buyback System that automatically buys back tokens based on the volume of DYNA they sell.
A Quadrillion Dynamix (DYNA)
Interestingly, they plan to issue one quadrillion DYNA. To explain, a quadrillion is a thousand trillion or a million billion. Hence, they plan to issue an unlimited amount of Dynamix (DYNA).
They plan to burn 16% of the DYNA they issue, distribute 45% of the DYNA through the DxSale PreSale, distribute 36% of the DYNA through PancakeSwap charge 3% for Dx Sales fees. Notably, they plan to distribute no DYNA to the Dynamix team.
They will charge a 12% tax on all Dynamix purchases, and 5% to 17% sales fees based on the time sellers hold Dynamix. They claim they will invest 60% the Dynamix budget on marketing.
Dynamix’s developers hope to raise enough money to buy billboard advertising, issue press releases, and pay big influencers to promote DYNA.
What Value Does Dynamix Have?
Mr. Market gives Dynamix (DYNA) some value. For example, CoinMarketCap named Dynamix as the sixth most trending cryptocurrency on 14 January 2022. In contrast, CoinMarketCap listed Dynamix as the 1,639th largest cryptocurrency on 23 January 2022.
CoinMarketCap gave Dynamix a $0.000000002625 Coin Price, a Fully Diluted Market Cap of $1.295 million, a Market Capitalization of $2.495 million, and a 24-Market Cap of $147,717 on 23 January 2022. They based those numbers on a Circulating Supply of 519.159 trillion DYNA. There is a Total Supply of one quadrillion DYNA.
Comparatively, Coinbase gave Dynamix a $0.0000000026 Coin Price, a $1.3 million Market Cap, and a Market Volume of $147,739.78 on 23 January 2022. They base those numbers on a Circulating Supply of 519.1 trillion DYNA.
I consider Dynamix a speculative cryptocurrency that is searching for a market. I suggest speculators avoid Dynamix until they show entrepreneurs are using it for freelancers’ escrow. Until that happens, I think Dynamix has no value.