MetaFinance Report (10–23–2021)
In November 2020, MetaFinance officially launched, building a massive cornerstone community and leads the development of decentralized finance. Since the launch of the new website, the technology community has focused on algorithm optimization and product design and has not made extensive disclosure because we want to make sure 100% information is available to the community when the product is ready for launch, instead of postponing and retracting. Now, MetaFinance is approaching its first anniversary, and MetaFinance is keeping up with the times in the increasingly mature DeFi industry, with a series of product updates ready to be completed.
Advances in technology and products
- MFI production reduction, node competition adjustment
MFI is expected to cut output by half on 15 November, with a total output of 200 MFI per day, balancing the output of the chains according to the amount of capital and the amount of collateral, while the share of node rewards and node contests remains the same, which implies an indirect increase in node revenue; The 20-phase node race brings a large number of active nodes to MetaFinance, and the node race will not stop after the 20-phase end. The combination with MetaFinance Bounty continues to provide clear community contribution incentives.
- New version of DAPP to go live as investors embrace MetaDEX
Community is one of the development trends of DEFI, and MetaDEX is a new trading aggregator, which integrates the liquidity of exchanges by optimizing the underlying mathematical logic. Currently, the two-currency model with 50% each is widely used in the DEX liquidity pool. MetaDEX only needs a single currency to add to the liquidity pool by the leading algorithm while it does not increase the free loss. For users with small transactions and specific transactions like long-tail assets. MetaDEX will always offer a better price. In addition to the transaction fees, the liquidity contributors also enjoy the benefits of the single-currency yield farming pool in the MetaDEX farming pool. MetaDEX is an algorithm-driven product which makes UX innovation.
Now, MetaDEX has attracted top investment institutions to participate in ecology and liquidity support. At the same time, the new MetaFinance ecosystem DApp is under test. The steps of mining pool and node interaction are concise for users. MetaFinance launched each product of the ecosystem in a separate location. Below is a prototype figure. We’ll reveal more on the anniversary.
- MetaDAO decentralized governance, regulate the initiative of the proposal, the right to review and vote
On the first anniversary of MetaFinance, the community wants to give more governance to nodes and supernodes. Currently, the DEFI industry is slow to grow in governance, and MetaDAO wants to introduce the latest paradigm to make governance a model by binding nodes offline, when the snapshot poll has a majority of votes and the node has a majority of 70% , the vote passes and is executed. Total decentralized governance is a medium-term plan with the following specific processes:
Sponsor of proposal: individual user, must be node or super node
Proposal Review Power: 20% of the Super Node approved after the vote
Proposal voting rights: all MFI holders
Anniversary of MetaFinance
Metafinance and Hoo are in Dubai for the 2021 future Blockchain Summit, which is supported by the government of Dubai. MetaFinance relies on Dubai’s ecological infrastructure, industrial resources and technology accumulation to facilitate the compliance of blockchain projects in Dubai.
The first anniversary of MetaFinance online media will be celebrated with a live financial question and answer session. We have contacted several communities around the world to broadcast the AMA, which will be attended by Daniel, the technical architect, to talk about the latest developments and product plans for the coming year, participate and receive rewards!