It's been a few very productive weeks since our first article on Mystiko telling you this was one to watch. Aiming to be a catchall ZK layer, Mystiko has captured the attention of the ZK zeitgeist with a successful public round on Coinlist
Sold out, ladies and gentlemen, to the tune of $11.25 million.
So we know the team definitely has the capital to do whatever it is they're talking about. But who is the team and what exactly are they talking about?
The Project
Mystiko is looking to become the base layer behind all cross chain bridges, offering zero knowledge proof to users no matter what bridge they are using. Sounds great, right — they pay a lot of lip service to the notion of user privacy in the . Can't say I'm really looking for Mystiko to become a monopoly, however, because they roll it all back in their Compliance Paper ??. Basically, they want to say they offer zero knowledge proofs, but still offer knowledge whenever a government agency strong enough to arrest them comes knocking. ??
I guess we can only expect so much from this cycle's projects. They are all VC funded, and those VCs come with strings. Fortunately, there are a LOT of bridges out there, so it's going to be quite the task to monopolize all of them. The sweet spot is for Mystiko to do business with enough folks to give me my 100x and leave me the freedom to use bridges without the spytech behind it.
The team claims > 250k transactions & > $140M in transactions on its live L1 as I write this. Backers include bigwigs like Hashkey and Signum, but the most impressive has to be Samsung.
The Future
What we can expect for Mystiko in the future is a successful TGE, which should be coming soon, actually. Word on the round before Coinlist was a Q1 TGE, but obviously that didn't happen. One can only hope this isn't a raise-and-delays project like Partisia, although I wouldn't blame the devs. You can live quite well putting shit off for years in web3.
The Mystiko project already has working relationships with most of the important blockchains. It remains to be seen how integrated the major projects on those chains will want to become with Mystiko, but I see good things in its future. Testnet functioned well and didn't compromise speed or uptime for privacy.
Mystiko is definitely still one to watch, and if you haven't gotten your hands on some of that tasty $XZK token yet, well maybe you should at TGE.
??????? Follow on Twitter for more exciting, boisterous alpha.
??????? Make sure you're in position to profit from web3 gaming in 2024
??????? The about these NFT communities.
