The Vision
In my initial blog post as CEO, I outlined the following three priorities for Mainframe. Sustainability, MFT utilization, and extending the unique benefits of blockchain to a non-technical audience. Let me share with you a high-level view of our initial plan to achieve each priority.
Mainframe will be a marketplace and DeFi service provider.
Sustainability
Our intent is to bridge existing consumer credit and decentralized finance (DeFi). This will open up many new possibilities for DeFi, including the necessary pieces for effective undercollateralized and zero collateral loans. Mainframe will service some of the essential touchpoints between physical identity and on-chain credit. It will earn fees for the service it provides and begins the journey to becoming self-sufficient. Mainframe will be a marketplace and DeFi service provider.
MFT Utilization
Our token, MFT, will play an essential part in seeding two dimensions of the ecosystem. It will be leveraged in our governance system as well as provide a vital market function. Additionally, MFT ownership is a prerequisite for being able to claim a proportional amount of staking reward. Engagement as a community will have a reasonably low barrier to entry, yet nonetheless, be required to qualify for certain benefits.
Non-technical blockchain beneficiaries
I have been working to onboard partners with a particular profile and appetite for our value proposition. We will first experiment off-chain extending credit to partners and their consumers. The end-consumer experience is embedded within our partner’s existing workflow. Consumers do not interact with wallets, hexadecimal addresses, or seed phrases. They provide consent for their credit to be run and submit the necessary information we need to service our extension of credit.
After a sufficient period of off-chain testing, legal review, and community education, we will transition our infrastructure to begin leveraging our next iteration of the Mainframe Credit Protocol. This is where things start getting real.
If we stopped here, our growth would likely be linear — merely a function of how many partners Mainframe can procure. In time, we will add new organizations to multiply the demand for our credit supply. These organizations will be accountable to MFT holders and hold requisite collateral to ensure aligned interests.
Conclusion
To recap, Mainframe will provide fee-based services to become more sustainable. MFT will seed governing and market functionality to our ecosystem. And finally, consumers will be beneficiaries of blockchain without requiring them to have strong technical competencies.
Coming soon, I’ll publish posts that elaborate on governance and the new token economic model. There will be lots to unpack, including delegation, staking rewards, lockups, market functions, and an updated credit protocol.
