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Introducing Michi Protocol

Welcome to Michi Protocol, the first-of-its-kind platform that revolutionizes how users trade points from various protocols before their Token Generation Events (TGEs). While the potential of points as a precursor to token rewards is widely recognized in the DeFi community, their tradability has been limited—until now.

TL;DR - ELI5

  • Your Wallet, Your Control: Each wallet you create through Michi is like having a wallet within a wallet, similar to how you use MetaMask, but tailored for trading points.

  • Private and Secure: Just like your main wallet, Michi can't see or touch your funds.

  • Trade Without Worry: No need to put up extra money as collateral when you trade these wallets.

  • NFT-Style Wallets: Each wallet functions like an NFT, which means you can trade them just like digital art or collectibles.

Why Michi Protocol?

Traditionally, points are stored off-chain and are linked to wallet addresses, restricting their exchangeability on an open market. Michi Protocol transforms this landscape by leveraging ERC-6551 Accounts, also known as Tokenbound Accounts, enabling users to manage points with unprecedented flexibility and security.

Our Solution: Simplifying Points Trading

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Michi Protocol allows users to create Michi Wallet NFTs, into which they can deposit tokens that accrue points. These points can then be traded on our platform by simply transferring the NFT, streamlining what was once a cumbersome process. This model offers several advantages:

  • No Collateral Required: Both buyers and sellers can engage in transactions without the need to provide additional collateral, making trading as straightforward as exchanging NFTs.

  • Fully Trustless System: The trading process is completely trustless, ensuring that once a trade is accepted, it is final—sellers cannot back out, and buyers receive full custody of the points.

  • Access to a Liquid Market: Michi Protocol facilitates a vibrant market where users can buy and sell points freely, enhancing liquidity and value discovery.

Join Our Growing Community

Stay updated with our latest news, participate in discussions, and be among the first to take advantage of Michi’s offerings by following us on Twitter, Telegram and joining our Discord server.

Provide early feedback, be the first to learn about new opportunities with Michi, and be a part of building a new DeFi community as TGE comes close!