DeXit Network (DXT) announced their MainNet production blockchain network had reached minimum viable product (MVP) status, clearing the way for immediate application installation and development in their MainNet blockchain environment. MVP is a production and development term used to describe a product successfully developed to the stage where it performs and operates as designed. After reaching MVP status, the product is operational and can begin partnering with developers, although additional elements and features are often added before the final release.
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Early adopters of DeXit Network blockchain hosted applications may then be fully functional on the day of the MainNet blockchain official release. The MainNet blockchain is on schedule for a July 2022 release. Additionally, DeXit announced the release and activation of token staking months ahead of schedule, allowing token holders to earn up to 14% APR on staked tokens.
Speaking about DeXit reaching MVP status, founder Tejen Bhandari said, “Reaching the MVP threshold is a tremendous milestone for DeXit Network. MVP allows us to actively invite developers to host their applications on the DeXit MainNet blockchain, and that development can begin immediately.” Regarding what’s next for DeXit, Bhandari went on to say, “Our next release is the production MainNet blockchain, so this is an exciting time for DeXit, and I’m pleased to say that release is on schedule. In addition, we encourage any interested developers or investors to contact us and take advantage of all DeXit Network offers.” Bhandari also stated that the early activation of staking, benefitting token holders with up to 14% APR token returns, resulted from overwhelming token holder requests made possible through development agility and responsiveness.
The DXT deflationary crypto-token features mechanisms to control supply, resulting in a compounding variable APR altered by governance and supply with controllable per burn fees. DeXit’s MainNet and decentralized exchange, using their planned external wallet, will result in intuitive, cross-chain exchange and trading, featuring significantly cheaper transaction fees than existing protocols such as Ethereum, Binance, and others. DeXit MainNet will provide up to six streams of residual income via staking, yield farming, and the redistribution of trading/swap and transaction fees.
DeXit Chain will offer complete EVM compatible chain programmability and interoperability allowing operation with existing Ethereum and Binance smart contracts and other EVM chains using current Ethereum tooling. These compatibilities allow decentralized application (Dapp) development within verticals such as DeFi, NFT’s, and gaming while offering developers up to 50% of the gas fees, incentivizing developers to remain on the DeXit Chain long term.