Many Worlds CEO Tan Shagar Discusses Tokenomics and More

DeFi smart contract concept

MP recently sat down with Tan Shagar. Shagar was born in Bangladesh but relocated to New York City with his family when he was eight. After spending a significant amount of time traveling the world and making friends in faraway places, he began to delve deeply into his passion for entrepreneurship. Shagar is convinced that the most successful businesses in the world help people solve everyday problems, and this conviction has led him to develop several successful startups in the healthcare space. He then became involved in the blockchain industry and has been for some time now because he recognizes its potential to change our society as we know it. His infatuation with blockchain technology eventually resulted in him accepting the CEO position on the Many Worlds team.

Tan Shagar Many Worlds CEO
Many Worlds CEO Tan Shagar / Photo courtesy of Tan Shagar

MP: What is Many Worlds, and why is it unique?

TS: Many Worlds is a utility token built on the Binance Smart Chain. It’s the most advanced BUSD reward token in existence and the first-ever crypto asset to deploy a “dynamic tokenomics” system, all of which was designed to power the Many Worlds ecosystem of services. This all means that the token can reward holders in stable coins simply for owning and holding the asset. The value of these stable coins is pegged to the US dollar, which provides a sense of stability in the system. This stability, amongst other aspects of the project, makes the asset a rare gem in the Binance and general crypto space.

Why did you start Many Worlds?

I started Many Worlds and our entire team to ultimately show people the potential of the blockchain and help facilitate their journey into this world. All of our team members met one another because we were drawn to a completely different project and quickly realized that it was poorly managed and destined to fail. In our search for new opportunities, we quickly realized a real need in the DeFi space for a project that aimed to make real, lasting change in the world outside of the blockchain space. This is the core mission of the Many Worlds project, to connect the different worlds. This starts by connecting the world we live in to the world of crypto.

Where did the name Many Worlds come from, and why was it chosen?

The name Many Worlds pays homage to the concept of the Many Worlds Theory, in which there is a parallel existence of many worlds in the same space and time as our own. At this point in our society, there are entirely new worlds in the digital and DeFi space that are only being taken advantage of by as little as 3.5% of our population. We believe, to our core, that we have a mission to bridge this gap in accessibility, so the name seemed to be a perfect fit for us.

How did you build a successful customer base?

We don’t view token holders as customers. We see them as partners and valued members of our community. We communicated our genuine passion for honesty, transparency, ingenuity, and integrity from very early on. We felt that these values needed to be at the core of any blockchain project and committed ourselves to that standard. When we started to communicate this commitment to people, I felt that it resonated with them and helped them see that this was the start of something different in this space. This led to a community that became extremely attached to our mission, and they trust that our team can make Many Worlds’ ambitious roadmap a reality. The crypto market has been experiencing turbulent times as of late. We are proud to say that our community of supporters remains unshaken through this period, as evidenced by significantly less price volatility when compared to other assets in our category.

What experience did you want customers to have when thinking about and interacting with Many Worlds, and why?

We want people to understand that when they enter a Many Worlds position, they join a community of like-minded people looking to effect real and tangible change in society. We are pushing to bridge the average everyday person to the crypto world, this is a noble mission, and we feel that everyone who participates in the Many Worlds movement should feel a sense of pride.

Many Worlds token is the world’s first dynamic tokenomics system in cryptocurrency. Exactly what does this mean, and why does it matter?

Dynamic tokenomics is one of our biggest achievements in blockchain to date but certainly will not be our last. It’s a feature that no other crypto project has managed to achieve in the blockchain history. As complicated as the typical crypto smart contract is, how tokens interact with their respective smart contracts has always been fairly simple. Traditional crypto assets have always been limited because every token within a project followed the same set of rules when interacting with its smart contract. The dynamic tokenomics system introduced by the Many Worlds smart contract completely revolutionized tokenomics by creating the potential for each token to interact with the smart contract in its unique way. This effectively created a system where all tokens no longer needed to follow the same set of rules, and the implications this technology can have are endless. This feature was vital to the Many Worlds team. It allowed us to resolve scalability issues that have always existed with traditional rewards-based crypto assets, making the Many Worlds Token the most advanced and sustainable rewards token in existence.

Many Worlds tokens held in the same wallet have different intrinsic values based on how long they have existed in that wallet. How do you envision a model like this transforming the industry over the next decade, and why?

This is essentially possible due to the dynamic tokenomics technology that we introduced to the space, and its potential for transforming the industry is incredibly high. We used it to resolve scalability issues and create a far more sustainable asset, but this only scratches the surface of what’s possible. One of the biggest concerns that any project developer has is decreasing selling pressure. This technology can be leveraged in many ways to encourage a token holder to keep the asset for as long as possible by adding incentives for holding. It’s something that was not possible on-chain in the past. I’m confident that, as this technology gets more exposure, developers will find new and creative ways to utilize it in support of their project missions.

Is there anything else you would like to add?

The blockchain space is in its infancy and going through a phase comparable to the wild, wild west. We need more honesty, integrity, and inclusion in the industry. We hope to be a driving force in bringing about this change and hope that we can convince others to join us.