MetaFinance’s New Journey: A Decentralized Financial Integrated Commercial Platform in Metaverse
In the summer of 2020, the platform Compound and Yearn Finance protocols first launched liquidity mining; its high yield and fair community launch model attracted a lot of attention, thus starting a wave of decentralized finance. Since the “DeFi Summer”, various protocols such as DEX, loaning, aggregated revenue, wallets, prophecy machines, etc have grown rapidly. And MetaFinance is also included, with a 100% community fair launch approach that is unprecedented, accompanied by extremely high mining yields. Thanks to the efforts of many technical communities, MetaFinance has reached many milestones: MetaPool, MetaDAO, MetaDEX (Canoe Finance) and MetaTrigger, our products cover many areas of DeFi, and the decentralized financial complex is worthy of its name.
The word Meta in MetaFinance stands for metaverse, which can be understood as the connection between the physical and virtual worlds. It does not only includes hardware and software innovations, but the more critical element is that it requires an integrated economic system parallel to the legal, financial system. Therefore, MetaFi emerges, enabling non-homogeneous and homogeneous tokens to achieve complex financial interactions with protocols and services. MetaFinance’s new journey will integrate the metaverse & Web3.0 to become a metaverse financial integrated commercial platform, and establish an open economic system in the larger ecology.
MetaFi included DeFi and NFTFi. In the past 2 years, MetaFinance’s accumulation of experience in the DeFi field has given us the confidence to enter NFTFi. This New Journey will focus on non-fungible tokens, all kinds of identity NFT, profile picture NFT, on-chain data NFT and other NFT collections, which users can control their wealth and property rights by themselves. MetaFinance’s meta-universe financial complex model helps users connect on-chain data with off-chain communities, connect virtual and physical worlds, manage fungible token (Tokens) and non- fungible tokens (NFTs) more easily, and empower applications to capture more profit.
MetaFinance’s collection of metaverse products
I. MetaID: On-chain Digital Identity DID (A decentralized identifier)
Everyone has a digital identity with unique attributes, and these digital identity public-private key pairs form NFTs that digitize personal records, educational information, addresses, etc to form a unique NFT asset. Since the identity information is permanently on the chain, the historical contribution and operation records of each DID are publicly available, which serves as a check and balance for the credit bias generated by NFTs. These NFTs tokenize digital identities, which can be used in different products of MetaFinance and are available for interaction with on-chain protocols through their authorization.
MetaID is a unique identity-based NFT in MetaFinance, in which each user has a unique digital identity DID in the form of NFTs, including registration time, mint information, community information, etc. Users can obtain multiple NFTs: Community user NFT, Cornerstone user NFT, and Node NFT …… All NFTs eventually form into one identity NFT, which is owned by the user. Different identity NFTs enjoy different entitlements and benefits in MetaFinance.
II. MetaPioneers：Profile-pictures-inspired NFT & Permanently profitable NFT
MetaPioneers is the latest product we have launched and contains various types of NFT profile pictures. Each Captain/PioneersNFT has been intricately designed to be interoperable in various metaverse spaces, and MetaPi NFT profile pictures are unique works of art that highlight in-game utility and NFT collection value.
MetaPi NFT is also a permanently profiting NFT, with value support generated by a set of underlying machine-gun pool protocols that mine valuable investment targets from next-gen economic models. Because of the permanent profiting feature, MetaPi NFT has sufficient value anchoring. The product innovation of NFT collateralized loaning in MetaPi provides the underlying valuation for each NFT and liquidity. thus, holders of MetaPi NFT are almost equivalent to several times the value of a long-term fixed investment in underlying NFT investment, gaining awareness and value growth without notice.
III. MetaDAO：NFT Fragmentation Governance
Dividing an NFT into 100 parts for different users. When the NFT carries voting rights or profits rights, for people’s capabilities and situations, no product in the market answers. Therefore, MetaDAO plans to attempt this aspect, dividing the non-homogeneous tokens into many homogeneous tokens, and the fragmented part is a share of stocks in the ownership of the NFT, thus dividing the governance rights. MetaDAO brings these DeFi principles to the broader metaverse to create a more sophisticated parallel economy governance paradigm with different cryptocurrency combinations, bringing more users to the cryptocurrency ecosystem in the next decade.
The future of MetaFinance
MetaFinance has always been a comprehensive platform in the financial category, focusing on the operational management of assets and the ecosystem. When we enter the MetaFi metaverse, we will also operate and manage pan-NFT type assets, such as non-homogeneous assets, props or profile pictures generated by community users who have their economies in the virtual world, and MetaFinance helps users to use and appreciate the value of pan-NFT type assets, and integrate DeFi 2.0 into MetaFi, etc. The meta-universe scenario gives us endless possibilities, and we hope the community can see our improvements soon and feel the benefits they bring.