Lianyun Finance Open Course No. 62 | DeFi 2.0, MetaFinance reconstructs the financial ecosystem

DeFi has always been an innovative world compared to traditional finance. As DeFi becomes more and more popular, all parties have raised the "ultimate question": Can decentralized services (DeFi) reconstruct centralized financial (CeFi) services? Can the two be integrated?

Today we are very honored to invite Kenneth, the Asian community consultant of MetaFinance, to be a guest in the ChainCloud live broadcast room.

Lianyun Finance: Welcome Kenneth, please briefly introduce yourself and what kind of project do you think MetaFinance is?

Kenneth: Hello, friends of Lianyun Finance, I am Kenneth Wen. I joined the blockchain consulting department of Deloitte Australia in 2016, responsible for providing advice and information on blockchain applications (so-called chain reform) to relevant enterprises and government agencies in Australia and New Zealand, thus entering the blockchain industry. After that, I participated in the construction of the Australian Ripple (XRP) gateway, and successively participated in several local blockchain projects in the early stage, including Canya, Chronobank, and Havven, the predecessor of the later well-known DeFi project Synthetix (SNX). Last year, I started to be a degen in my spare time and played various DeFi projects. It was also in this process that I came into contact with the MetaFinance project and technical team. I found it very interesting. I also used some experience to give them some advice, and finally became their consultant. MetaFinance is an all-in-one DeFi solution, or a DeFi comprehensive business entity. It aggregates all the financial solutions that the main DeFi can provide and provides them to users, so that users can experience the advantages of DeFi more easily and conveniently.

Lianyun Finance: As far as we know, MetaFinance has 9 innovative products. Can you briefly introduce the nine module products of MetaFinance? What is the close connection between these products and users?

Kenneth: There are 9 major product sections in MetaFinance: Metaboard decentralized billboard marketing agreement, Metapool "three-no" liquidity mining mechanism, MetaTrigger machine gun strategy protocol with compound interest model, MetaDao decentralized community governance ecology, MetaDex innovative algorithm AMM aggregation trading platform, MetaOp decentralized financial derivatives aggregation trading platform, MetaBM unsecured loan agreement, MetaFund decentralized digital asset investment fund and Metachain DeFi Chain based on Polkadot ecology. These nine sections basically cover most of the basic financial needs in DeFi. At the same time, these nine sections conduct value transmission through the governance token MFI and the dividend token MFS, and incorporate DeFi's dividends into the token economic model to share with all coin holders. By staking MFI, you can obtain MFS dividend tokens. By holding dividend tokens, users can further profit directly or indirectly from the income of the nine major product sections, such as machine gun pool income and MetaFund quota income.

Lianyun Finance: Everyone knows that DeFi is financial Lego, so does anyone think that MetaFinance’s products are not innovative enough and the threshold is not high?
Kenneth: Indeed, many friends who are familiar with DeFi may ask, DeFi is financial Lego, and it is open source, just stack different functions together, the threshold is not high. Why do we need to do something like MetaFinance? This is how I understand it. Although DeFi is indeed financial Lego, how much do you think DeFi has achieved on the road to popularization? 10%? 5%? In my opinion, it may be less than 1%. Among the 7 billion people in the world, only a few have been exposed to decentralized finance, and DeFi can serve everyone, regardless of whether you can open an account in a bank, as long as you have an Internet connection. For them, when they first enter DeFi, will they be willing to borrow on Compound, trade on Uniswap, speculate on contracts on Synthetix, and manage YFI to solve their financial needs in a "fragmented" way, or will they use Alipay like Chinese netizens now, to buy funds and insurance in one stop? Obviously the latter. The power of user habits and preconceived ideas is terrible. If you don't believe it, think about Binance and Huobi Chain. There are so many L2 and sidechain solutions. Why are they ahead? It's still because of user habits. What MetaFinance wants to do is to be a comprehensive DeFi one-stop solution platform that covers 95% of users' on-chain financial needs.

Lianyun Finance: What products have MetaFinance launched so far? How can users participate in it? What value can they gain?

Kenneth: The products that have been launched now include MetaBoard billboard and MetaPool liquidity mining pool. The MetaTrigger front-end has been launched in the Beta stage and will soon go live to the official stage. Most of the other sections have completed the demo, are being tested or are being adjusted for the next cross-chain version. Users can currently directly obtain promotion income from 1:1 Ethereum PETH settlement by participating in the MetaBoard billboard. In MetaPool, as of today, a single currency staking PETH can obtain more than 360% APY. If MFI-ETH liquidity mining is provided, the income will be higher. As for holding MFS, as we have just talked about, you can get dividend income from machine gun pool income, MetaFund quota income, etc. An example that makes everyone very intuitive is that our MFS holders have previously realized the dividend cash income of MFS by obtaining the quota of the Polkadot project, with the highest increase of 560%, which is very impressive. Recently, we have also completed the cross-chain migration to the Huobi ecological chain, and the gas fee and transaction speed have been greatly improved. No longer will you be held back by expensive costs and poor user experience.

Lianyun Finance: Can you give us a brief introduction to the governance token MFI? What role does it play in the entire ecosystem? What is its operating mechanism?

Kenneth: MFI is the governance token of MetaFinance. In the early stage, it can be obtained through the MetaBoard billboard, and of course it is now circulating on the Uniswap exchange. Like all governance tokens, you can participate in all MetaFinance decisions by staking MFI and participating in voting. Everyone should realize that this is very important, especially when this ecosystem can really make money, because what you decide is: how much dividends will be distributed in the machine gun pool? Destroy all or part of it? Do you want to split the coin now? To put it more clearly, these directly determine everyone's own income. Users standing at different angles will have different interests, and the balance and coordination between interest groups reflect the charm of decentralized DAO governance. In addition, staking MFI can obtain the dividend token MFS, and only by holding MFS can you truly enjoy continuous dividends from the MetaFinance ecosystem. The message conveyed by such a token economic design is very clear. Only if you truly actively participate in the construction of the Meta ecosystem can you obtain continuous dividends. "Lazy whales" are not allowed in Meta, and everyone is equal.

Lianyun Finance: For ordinary users, how can they participate in MFI staking mining and maximize their earnings? Are there any tutorials and strategies?
Kenneth: There are currently two ways to participate in MetaFinance mining. One is to stake the Ethereum stablecoin pETH for liquidity mining on the Ethereum network. The other is to stake MFI to mine MFI on the currency ecosystem. In addition, there is also the method of staking MFI to mine the dividend token MFS. I strongly recommend that new users try the mining pool on the Huobi ecosystem, which is relatively friendly. The tutorial is as follows: https://www.yuque.com/mfizhongwenshequ/uzenyr/lsbbba
Lianyun Finance: What actions has MetaFinance taken recently? What are the plans for the next step?
Kenneth: First of all, we recently launched the Huobi Exchange, and the highest increase after the launch was about 250%. Secondly, we have completed the cross-chain work of the Huobi ecological chain. First of all, the cross-chain of the MetaPool contract. In the future, we will migrate more products to the Huobi chain so that everyone can enjoy fast, low-cost, high-quality DeFi services. We are also testing the OK chain, and it is basically ready to go online. Now we are just waiting for the OKEXChain mainnet to go online. In other aspects, we have participated in supporting the exploration of NFT by the Huobi project and Vidy, the world's largest video attention economy project, and participated in the attempt to jointly develop a new NFT platform with Vogue, the world's largest fashion magazine. In the future, there will be more exciting expansion plans in the direction of DeFi and NFT to be announced.

The above is the text compiled by Lianyun Finance based on the content of the live broadcast room. For more information, please pay attention to Lianyun live broadcast information.

This event is co-hosted by Lianyun Finance and MetaFinance, with strategic support from multiple media outlets! Thanks to the following media outlets, and we look forward to more exciting events in the next issue!