MCFinance DEX
UI/UX of MCF DEX will be provided before its launch on May 2021.
MCFinance DEX (MCF DEX) will be a permissionless decentralized exchange (DEX) based on Ethereum, powered by Polygon’s scalability infrastructure.
Just like current leading DEXs, such as Uniswap and SushiSwap, anyone can trade any ERC20 tokens on MCF DEX. If an asset isn’t currently tradeable on the platform, users can list any ERC20 token by providing liquidity to enable instant asset swaps. They will then earn fees every time other users trade via that trading pair.
Liquidity providers will be incentivized by both yield farming and liquidity mining opportunities. Users who provide liquidity for trading pairs on MCF DEX will not only be entitled to 0.25% of the platform’s 0.3% transaction fees, but will also earn MCF DEX’s native MCF governance token for their participation on specific trading pairs.
The protocol will be governed by MCF holders, who will be able to create proposals and vote on various factors relating to the running of the protocol and the management of the community funds. MCF DEX is being built for the community, to be run entirely by the community.
By utilizing Matic PoS Sidechain for transactions, MCF DEX users are empowered with the ability to trade assets at lightning-fast speeds with “zero” gas fees. At the time of writing, the cost for a ‘fast’ transaction (~30 seconds) on Ethereum stands at $6.66.
MCF DEX removes the costly barriers to entry and usage for the general crypto user, enabling the next wave to enter DeFi. Near-instant decentralized trading with zero gas fees is quickly approaching.
Updates on UI/UX will be soon updated before the launch of MCF DEX on May 2021.
MCFinance Smart Contracts
8 types of smart contracts will be implemented for MCFinacne on its initial launch, more will be updated as the protocol expands.
1. Layer 1 Staking Pool Smart Contract
This is for MeconCash users' staking function. MeconCash users will be able to stake their MeconCash on Ethereum layer 1.
2. Layer 1 Staking Pool Reward Smart Contract
MCF token reward structures implemented for the layer 1 MeconCash staking pool.
3. L1 L2 Bridge Smart Contract
Smart contract for bridging ERC20 assets between layer 1 and layer 2 (sidechain).
4. L2 Rootchain Smart Contract
Periodically checks and updates the childchain's (sidechain's) activity to the rootchain.
5. L2 Childchain Smart Contract
Smart contract for activity on the sidechain(childchain).
6. Layer 2 DEX Swap Smart Contract
Smart contract for asset swaps on MCF DEX powered by Polygon's Matic PoS Chain.
7. L2 DEX Governance Smart Contract
Smart Contract for MCFinance's governance process in creating proposals, voting, and result implementations.
8. L2 DEX Reward Smart Contract
Smart contract for various rewards on MCFinance DEX
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