THE MVAULT AND HOOTDEX

The development of a decentralized digital asset swapping system with end to end encryption and proprietary security protocols embedded was important to integrate as an integral part of the MVault. This development process began in July 2022 and was meticulously developed to provide high security, global pricing, unique tokens and a vetting process for Projects being tokenized.
HootDex is a decentralized digital asset swapping system that was built as a layer-2 system on the Pecu Novus Blockchain, the reason for this was the security, scalability and speed. It consist of liquidity pools that allow for automated market makers to exist for any token listed on HootDex.
Some examples of tokens are SynthCryptos, CryptoPairs, Wrapped Tokens and Project Tokens. Wrapped Tokens promote interoperability across widely used blockchain networks such as Bitcoin and Ethereum. SynthCryptos and CryptoPairs allow for members to mitigate their risks of owned digital assets,  participate in synthetic market exposure to create new strategies and participate in various vetted projects listed on HootDex.
A key feature of HootDex is the vetting process, the vetting process implemented by HootDex for Project Tokens listed on its platform brings several benefits and can have a significant impact on the cryptocurrency ecosystem such as:
A key feature of HootDex is the vetting process, the vetting process implemented by HootDex for Project Tokens listed on its platform brings several benefits and can have a significant impact on the cryptocurrency ecosystem such as:
  • Protection for the general public: By subjecting Project Tokens to a vetting process, HootDex ensures that only legitimate and trustworthy tokens are listed. This helps protect investors from potential scams, fraud, and misleading projects, reducing the risk of financial losses.
  • Avoidance of bad actors: The vetting process serves as a preventive measure against bad actors attempting to list fraudulent or malicious Project Tokens on HootDex. By conducting thorough due diligence, HootDex can identify red flags and exclude tokens associated with suspicious activities, promoting a safer trading environment.
  • Transparency and information: The vetting process enhances transparency by requiring Project Tokens to provide relevant information, such as project details, team background, and tokenomics. This empowers investors to make informed decisions based on comprehensive and accurate information, increasing trust and confidence in the listed tokens.
  • Credibility and trust: By implementing a robust vetting process, HootDex establishes itself as a reputable and trustworthy platform. This reputation attracts more users and potential investors who value the credibility of the listed tokens, fostering a healthy ecosystem built on trust and integrity.
  • Long-term sustainability: A strong vetting process contributes to the long-term sustainability of HootDex and the broader cryptocurrency ecosystem. By promoting legitimate projects and weeding out potential scams, HootDex can cultivate a reliable and sustainable marketplace for digital asset trading.
  • Positive market impact: The existence of a vetting process on HootDex can positively impact the overall market perception of cryptocurrencies. By demonstrating a commitment to investor protection and due diligence, HootDex sets a standard for other platforms to follow. This can lead to increased adoption and acceptance of cryptocurrencies as a legitimate investment asset class.
HootDex’s vetting process for Project Tokens brings benefits such as investor protection, avoidance of bad actors, transparency, credibility, and long-term sustainability. By utilizing this method, HootDex aims to create a safer and more trustworthy ecosystem for cryptocurrency trading, benefiting both investors and the broader cryptocurrency community.

WHAT IS THE MVAULT?

SMART CONTRACTS ON THE MVAULT

THE MVAULT 

The MegaHoot Vault “MVault” is a multi-purpose platform where the continued development is increasing the utility of the platform within the MegaHoot ecosystem. The system features end to end encryption with proprietary security protocols in place to protect members. This continuous evolution is allowing for the MVault to be much more than a digital safety deposit box for cryptocurrency but also a repository for various types of digital assets ranging from digital documents to non-fungible tokens and more to come.

MVAULT DIGITAL SAFEKEEPING BOX

The MVault’s digital safekeeping box feature is a form of cold storage for digital assets that are built on the Pecu Novus Blockchain Network, this can range from any token created to non-fungible tokens which represent anything from artwork, real estate to decentralized autonomous organizations. There are two options, in-wallet and offline cold storage.
The digital safekeeping box will also house digital documents in the near future, such as agreements or other, that have been attached to a transaction on the Pecu Novus Blockchain.

SMART CONTRACTS

Another key feature of the MVault is the integration of smart contracts for transactions on the Pecu Novus Blockchain Network, which embeds directly on the blockchain. There are two ways to create smart contracts that allows both novice and advanced users to utilize.
First is the MVault Escrow System, this is a simple interface that allows any member to simply put Pecu Coins, Tokens or NFTs in escrow with a specific release date. They can add public or private notes that they want to be a permanent part of the transaction.
The second way will be a simple interface that will allow more advanced members to create simple or complex smart contracts using Typescript or a programming language that are using currently that will convert into what is required for Pecu Novus. This will promote inclusion and ease of use across a greater range globally.

MVAULT ESCROW SYSTEM

In promoting inclusion and fee reduction for smart contracts, the MVault features a simple contract that allows for coin, token or NFT holders to easily place their digital assets in escrow for a transaction with a date release. The Escrow System has been a staple of the MVault since late 2017 and has evolved in 2023 to include escrow ability for all tokens created on the Pecu Novus Network including non-fungible tokens. This will continue to evolve as the MVault scales and integrates further with HootDex.
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