L-2 Solution With Enhanced Technology to Scale Transactions

Myria was launched in August 2022. Its technology enhances the transaction speed to 9,000 transactions per section (TPS). The project has over 250 partners and mounted more than 500,000 NFTs on the platform. 

It offers lightning-fast speed with zero gas fees. Myria is growing fast as it satisfies the need for gaming projects by providing secure scaling solutions with low gas fees and congestion.

Myria Token Utility

Myria is an ERC-20 utility token. The token serves as the basis for transactions on the Myria L2 scaling protocol. To make the ecosystem grow the MYRIA will be distributed to node operators and developing partners in the ecosystem.

It has a market cap of $93,066,369. It has a circulating price of 8,627,762,209 MYRIA. It has a total supply of 50,000,000,000 MYRIA. The fully diluted market cap is $543,583,659 (press time).

The token is used for node purchases and rewards. Myria’s nodes are important to the protocol’s infrastructure and security. Node owners secure the network and also take part in the governance and decentralization of the ecosystem. The node owners receive rewards.

The tokenization includes Node Emissions 36%, and 2.0% allocated for strategic reserve. 19% is allocated for project development. 3.0% is allocated for liquidity provision and 40% is allocated for system funds. The vesting period for the ecosystem fund is 36 hours and 48 hours is the vesting period for project development.

What is Myria Node?

Myria nodes are responsible for the circulation of MYRIA and other in-game tokens into the market. The number of Myria nodes is limited to 40,000. The nodes contribute to the growth of the Myria ecosystem. When the node operators fulfill the daily requirement, then they are rewarded with a daily $MYRIA distribution.

Nodes are available for activities like initial network tests, decentralized data storage, oracles, and governance. However, there are some requirements for Myria Node operators. They must operate their nodes for 6 hours a day to receive their Myria node distribution points. Running more than 6 hours a day will not result in more rewards.

Myria token distribution works on the process of the point system. It also provides governance rights.

Fees on Myria

Myria’s main aim is scaling and growing the ecosystem. There are different types of fees on Myria that include like 

Protocol Fees: the platform does not currently charge any fees for users using the network. 

Marketplace Fees: The platform does not currently charge any service fees for trading NFTs on the Myria marketplace.

Creator fees: Creator fees allow the creator to earn. This fee does not go to Myria. 

Primary sale fees: Myria does not charge any sales fees for the collections minted on the platform.

Myria’s Design

A layer-2 solution is the technology built on top of layer 1 blockchain such as Ethereum to increase the throughput. This increases the scalability and speed without compromising the security. This is gained by bundling thousands of transactions off the main chain. 

Myria to create progressive NFT trading protocol by combining the cutting edge Zk-rollup scaling solution by StarkWare with NFT-specific proof logic.

Myria Ecosystem 

Myria’s ecosystem consists of Myria Platform, Myria Studio, and Myria Developer Solutions. Myria platform is all in one Ethereum L2 platform which consists of Myria NFT marketplace. 

Myria Studios consists of a Player-focused gaming studio that provides rewards and true ownership. Myria Developer Solutions consists of APIs, SDKs, and other business success solutions. It simplifies the blockchain processes and also facilitates unparalleled speed and scalability.

Why Select Myria?

Myria solves the basic limitations of the blockchains like low throughput rate, poor user experience, and slow developer experience. It also provides a wide range of developer tools to simplify blockchain interactions for developers. It avoids the complex coding so anyone can simply connect to Myria’s SDK to launch the blockchain project. Thus, no direct smart contract or network knowledge is required on the part of the developer. This means any transaction, minting of NFT, or launching a new collection is done in a simplified manner. Hence, it can be said that it provides the use case flexibility.

Myra knows the importance of regulatory compliance like the Anti Money Laundering (AML) and KYC legislations and also the protection of consumer data. This is also one of the factors in selecting Myria as it can operate the NFT project at ease.

The Myria ecosystem includes Myria L2 Wallet and NFT marketplace. Myria L2 Wallet is a non-custodial cryptocurrency wallet that permits easy interactions between tokens and assets on Myria L2.

On all the Myria-powered projects and games all the digital assets and collectibles are traded on a dedicated Web3 marketplace.

Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.