$0.0783

Mysterium Network is an open-source ecosystem of protocols, tools, and Web3 infrastructure designed to make the internet borderless and accessible to everyone. It provides users and developers with tools to protect online privacy and ensure equal access to information. The network raised $14 million CHF through a token sale. It operates as a permissionless, peer-to-peer network where anyone can turn their device into a node and earn cryptocurrency by sharing unused internet resources like bandwidth or IP addresses. The network is secure, anonymous, and encrypted, similar to Tor but with better usability, stability, and speed. Its B2B Network-as-a-Service supports enterprise-level applications, including the Mysterium VPN for Android, Windows, Mac, and Linux, with iOS planned for 2022. The technology is compatible with both Web2 and Web3 platforms and can be integrated with VPNs, proxy services, DeFi wallets, browsers, and more.

MYST is the utility token that powers Mysterium Network. It facilitates frictionless peer-to-peer micropayments within the network, allowing VPN users to pay with MYST and node operators to receive it. Mysterium has developed its own micropayments infrastructure called the Hermes protocol to enable fast, anonymous, and censorship-resistant transactions. In 2022, Mysterium will integrate the IQ Protocol from PARSIQ to launch the Mysterium Delegation Pool. This pool allows MYST holders to stake their tokens and earn rewards in DAI stablecoin without any risk or collateral. Node runners can also stake MYST to operate nodes, and they can borrow MYST from the delegation pool without upfront capital, repaying from a portion of their earnings. MYST is an ERC-20 token with the ERC-2612 permit function, which was introduced with DAI and popularized by Uniswap.