Mynth

Unfortunately we have to share very bad news. Three years ago, we set out on the ambitious task of building a more secure cross-chain interoperability protocol. We were successful in that mission. Our spin-off product, @Novaswap, has received a lot of positive feedback from users, and we're proud to have built a reliable system that facilitates cross-chain swaps in a matter of seconds. We released many features designed to make cross-chain interaction easier, safer, and more seamless. Our core thesis was that the market would place significant value on a fast and secure cross-chain experience. That thesis was shaped by a reality we continued to see across the industry: cross-chain systems are frequent targets for major security exploits, and several large competitors experienced serious vulnerabilities while we operated. While we're proud of the protocol's security and features, usage hasn't reached the level required to sustainably operate and continue expanding. We've explored many possibilities to continue providing this service to the community. After reviewing the available paths forward, we'll be unable to maintain the pace of innovation we've committed to in the past, and we'll be unable to expand across more blockchains. As such, we've reached the very difficult decision to wind down operations. We'll be discontinuing our hosted infrastructure that makes Novaswap functional. By June 30th 11pm UTC, we'll cease all operations. All user funds will remain safe and non-custodial. No user action is required. Swaps will continue to be processed up until this time. If there are any issues, our team remains available to support you via our Discord through to the end of July. We want to sincerely thank everyone who joined us on this journey and everyone who believed in what we were building. We know this is hard news, especially for those who supported us along the way. We're deeply grateful for that support, and proud of what we built together.

What’s Next for Mynth Mynth is currently undergoing internal structural changes as we evaluate the best strategy for the next phase of growth. Over the past several months, our primary focus has been on a marketing strategy designed to promote @Novaswap and increase adoption. While swap volume is approaching $1 million, it’s clear that the strategy has not delivered the level of performance we expected. As a result, we are reassessing our approach and exploring new avenues to move Mynth forward more effectively. We continue to have a strong product roadmap and several plans for future development. However, many of these initiatives are currently on the backburner while we work to secure a new source of funding that can support sustainable execution. Mynth has previously been revenue positive, but the broader cross-chain ecosystem has shifted significantly. The market has entered into what can be described as a race to zero fees, with protocols competing aggressively on pricing. In response, Mynth now offers some of the most competitive fees in the industry for cross-chain swaps. While this improves the user experience and strengthens Novaswap’s competitiveness, it also reduces revenue available to token holders. We’re actively evaluating how to balance growth, sustainability, and long-term value creation for the Mynth ecosystem. Our priority now is to make the strategic changes necessary to put Mynth in the strongest possible position going forward. We appreciate the continued support and patience of our community as we work through this transition and determine the best path ahead.

While the feed is filled with drama, we've hit a new record in volume this month

It doesn't cost anywhere near as much to run a business as some of these proposals lead you to believe

Private swaps are coming. Today, when you start a cross-chain swap, your intent is encoded into a contract. Those instructions are public, visible, and verifiable, which lets the network process your swap quickly. Private swaps work the same way, with one key difference: the encoded instructions are encrypted. The transaction is still visible. The proof is still verifiable. But the details of your intent are unreadable to everyone else. Your swap goes through as usual, without exposing what you are trying to do.

Do you know what BMW, Netflix, Amazon, etc. have? Moat Cardano is already a globally recognized brand. Marketing for the sake of marketing is a sure way to burn money. What every project needs is a differentiation. There has to be a reason to use one product over another

In a world of broken bridges, we offer an alternative

Will anything be learned from these recent hacks? Probably not. People will probably continue to throw their money into unsafe bridges. Regardless, we'll keep building and providing safe bridge-less alternatives for those who are risk-averse

We made a very conscious decision to not rely on oracles because of the inherent risks. While other cross-chain protocols continue to be exploited, users of Mynth can sleep soundly knowing that a security-first approach comes with benefits

Yes, diversity is important. We can harmonize all stablecoins to make them act as one

And if you need to transfer funds into Stable, @Novaswap has you covered

For a little over a million dollars, we built the fastest interoperability layer that connects Cardano to 20+ blockchains In hindsight, we should've started an event organizer business so we could collect more than double from the treasury

We did not violate any rules and there are many other similar accounts that do the same type of promotion. Alas, we apparently made an enemy who reported all our posts and there's no ability to appeal