Metaverse ETP Monthly Report — March 2021

Highlights:

• Metaverse VM Explorer: https://vm-explorer.mvs.org/, provides a first look at on-chain transaction data on the new Metaverse mainnet.
• Gene Finance migration updates, deployment of Gene Finance contracts on the Metaverse mainnet
• Metaverse Hyperspace code upgrade
• Metaverse Foundation plans to acquire half a million more ETP in April, bringing the total amount to 2 million ETP. Can be seen on Metaverse Foundation address: https://explorer.mvs.org/avatar/Metaverse
• Featured in 8 different articles across the crypto world

Our team has been incredibly busy in the month of March with the new Metaverse Hyperspace mainnet and the Gene Finance migration to Metaverse.

Metaverse VM Explorer

The Metaverse VM Explorer provides a first look at on-chain transaction data on the new Metaverse mainnet. It has helped Gene Finance developers perform extensive testing during the migration of Gene Finance to Metaverse.

Check it out here: https://vm-explorer.mvs.org/

A more complete version of the explorer will be available for everyone to use soon.

Gene Finance Migration to Metaverse

• Redeployed all Gene Finance contracts onto Metaverse testnet.
• Deployed all Gene Finance contracts on the Mainnet to “test in prod”.
• Introduced ETP as a reward in Gene Finance Farms alongside GENE Token. Will be disclosing the new token economics very soon.
• Performed extensive testing on our current UI to ensure a smooth transition from Gene Finance Ethereum to Gene Finance Metaverse.

Visit Gene Finance at https://gene.finance/

Metaverse Hyperspace Mainnet Code Upgrade

On March 10th 2021, the Hyperspace Mainnet nodes were successfully deployed and 81,418,871.00 ETP were generated in the Genesis block. This signified the successful deployment of the Metaverse Virtual Machine (MVM) facilitating the migration of Gene Finance, the popular, one-stop-shop DeFi protocol to the new Metaverse Mainnet.

Since that release, our developers decided to implement the following upgrades, and did so without any problems or complications:

• Upgraded non-native token transfer support
• Resolved a bug that occurred when someone sent a token amount to his or her own wallet address.

Refer to the following commit for more details: https://github.com/mvs-org/hyperspace/commit/9c0f6d19502e66a367b63682bf049f172f360799

The mainnet is currently operating in a stable condition and the integrity of the genesis has been preserved.

Metaverse Foundation Plans to Acquire Half a Million More ETP in April

In March, the Metaverse Foundation has bought 1.5 Million ETP tokens from the market and plans to buy 0.5 Million ETP tokens in April, bringing it to a total of 2 Million ETP. This is part of a designed budget from the Metaverse Foundation to invest in further research, technological advancement of the Hyperspace mainnet development, and to buttress these groundbreaking developments with the proper marketing and community incentives.

In March, we burned 1 million ETP-ERC20 tokens, bringing it to a total amount burned of 4,576,348 tokens, and currently, there are 9,797,994 ETP-ERC20 outstanding.

Burned Transaction Hash: https://etherscan.io/tx/0x3a82263d438dde1ce047e45a155c5e7733e058a86702e7c40b8db408d1873fe2

We intend to burn 1–2 million monthly for the next several months.

The Foundation’s balance is public information that can be found on the Foundation address:

https://explorer.mvs.org/avatar/Metaverse

About Metaverse Foundation:

Metaverse Foundation aims to maintain the operations of the Metaverse blockchain and build a complete and affluent Metaverse ecosystem. The Foundation’s investment and guidance are based on the development of all industrial links derived from the Metaverse blockchain.

Latest news, featured in 8 different articles across the crypto world:

• “It’s a good idea to pick a blockchain platform that features a large array of capabilities and is both highly scalable and efficient”
  - “How to Get Started with Smart Contract Development”, by Tech Times, read more here.
• “Every year or so, a blockchain platform comes along with the potential to shake up the cryptocurrency industry as we know it. Metaverse is one of these platforms.”
  - “Meet the Projects Your Future Self Regrets Ignoring”, by NewsBTC, read more here.

• “Individuals can employ Metaverse Smart Token (MST) to create digital assets and MIT for non-fungible items, or they can use the protocol’s Avatar module to create a secure digital identity.”
  - “A Glimpse into The Future of Identification Documents”, by Finance Magnates, read more here.
• “Developers that already run apps on Ethereum can migrate their dApps to Metaverse without losing any functionality. Furthermore, the platform offers lower fees and higher throughput, meaning a better user experience”
  - “What is the Purpose of a Virtual Machine in Blockchain”, by ZyCrypto, read more here.

Is It Possible to Make Mining Easier and Faster?

• “Metaverse has confirmed they will introduce support for StratumV2 As an open-source decentralized and interoperable platform for programmable digital assets, integrating StratumV2 will prove rather beneficial”
  - “Is It Possible to Make Mining Easier and Faster?”, by Blockgeeks, read more here.
• “Metaverse users can build smart contracts using tools like MetaMask & Remix without having to rewrite or reconfigure. Hybrid Consensus mitigates 51% attacks while utilizing PoW to dictate block authoring & Grandpa finality.”
  - “The Most Advanced Blockchains Right Now”, by Coingape, read more here.
• “The future is likely to lie in blockchains such as Metaverse. Metaverse is a blockchain offering low fees and higher throughput, with a hybrid PoW/PoS consensus.”
  - “What’s Driving the DeFi and NFT Trends?”, by Zero Hedge, read more here.
• “Billed as an “advanced architecture for secure, easy to create digital assets and digital identities”, Metaverse leverages the best of Substrate to provide an interoperable, secure, and scalable platform for decentralized applications and blockchain-based smart assets.”
  - “Developers Are Swarming to Substrate: Here’s Why”, read more here.

Stay tuned as we will be announcing our Ambassador and Dev onboarding program soon. We invite influencers in the crypto asset space, blockchain industry experts, developers, and community leaders to join our global Metaverse community and become an important cornerstone in the expansion of our Metaverse ecosystem.

As we start to finalize our products and developments, we hope that you will be able to interact with the new Metaverse mainnet and Gene Finance on Metaverse soon.

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Website: https://mvs.org
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