my piece of freedom or MFC is a DeFi platform built on the transparent and secure BEP-20 blockchain. By bringing together secure, transparent and fast blockchain technology with the financial services industry, the platform aims to provide an accessible alternative to financial institutions around the world.
The MFC ecosystem aims to minimize the potential for negative volatility that accompanies the crypto market while creating stable growth. It has several utilities including a wallet, bank, and exchange for users to buy, sell, and collateralize their MFC coins.
The platform coin functions as a shock-resistant asset and a store of value that provides stable growth for investors.
BUSDT cash flow and price floor
The MFC part has a total supply of 7 billion coins which are released through a series of deals. Funds raised through MFC coin offerings are then stored in a smart contract on a BEP-20 network called BUSD Treasury (BUSDT).
BUSDT guarantees that all coins in circulation will not fall below the price floor, which can only remain the same or increase. The floor price refers to the absolute lowest price the coin can be and this price then increases over time.
The constant growth of BUSDT is ensured because each parts offer is 2X of the floor price. Additionally, all fees charged in MFC are removed from circulation, increasing the price floor.
Key aspects
Some major aspects of the My Freedom Coin ecosystem include:
- Collateral loans: BUSDT allows users to secure their MFC and take out a loan charged at 0.98% per month per day in MFC. Loans are issued for a period of 12 months renewable at any time before the end of the period. Accrued interest is taken out of circulation, thus increasing the floor price. A 0.5% fee also applies for loan renewals with a minimum annual payment of 100 BUSD.
- Parts offers: Coin offers are coins that have been taken out of circulation and are resold or new coins are those sold in the market at 2X of the floor price. They give the platform a chance to constantly raise the floor price based on the demand for the coin.
- Redemption and community rewards: Community rewards are generated from trading license fees and paid for using My Freedom Exchange. 90% of the trading license is distributed to members who have invited users to MFC while the remaining 10% goes to a smart contract called BuyBack which buys MFC which is taken out of circulation to raise the price floor.
- P2P exchange: All MFC transactions would have a 2% exchange fee charged to both buyer and seller. For example, if a user buys $100 worth of MFC, he will get $98 worth of MFC. Similarly, by selling $100 of MFC, users would get $98 in BUSD. These fees are charged in MFC and taken out of circulation, which increases the price floor.
Conclusion
MFC works on an invitation-only ecosystem that incentivizes its members to grow their ecosystem through their sustainable community program.
Users can also access My Freedom Coin via the QR code given below.
As mentioned earlier, users can trade on the exchange, but will be charged a “trading license” fee which is $0 for the first 10,000 holders and will increase by $5 for each new 10,000 holders until until they reach a $50 license (100,000 holders).
MFC aims to balance the inequalities of the global economy in contrast to the current financial situation, making it an alternative that provides financial freedom to its users.
For more information on My Freedom Coin, please see their official site and their Twitter, Telegram, Discordand Reddit. The application can be downloaded from Play store and App store.
Disclaimer: This is a paid publication and should not be considered news or advice.