Blockchain technology has grown in acceptance since its early days of introduction and it has seen several applications most especially in the financial aspects of human lives. Its core function is exhibited through the creation of a tamper-resistant and transparent ledger for digital assets, such as cryptocurrency.
Most blockchain projects have their own crypto tokens which serve as a means for traders and investors to make their financial investment commitments. For long term holders and investors, many crypto projects have developed Staking Systems that allow investors to earn passive yield from their idle assets.
Overtime, projects have played around staking concepts, and various iterations of staking have emerged. One of the staking variants which is gathering momentum is Auto-staking — a staking concept that allow users to earn yield reward from assets sitting in their non-custodial wallets without sending them out or locking them on a 3rd party smart contract. By buying these tokens in their wallets, users have the opportunity to increase their assets up to 100,000% APY in the form of compounded interest. This has been seen by many long term holders as a better alternative to manual staking and compounding process that characterized other forms of staking which requires assets to be locked on a 3rd party smart contract.
Staking based on the auto-staking rebase algorithm concept has been gaining traction recently and one project that aim to spearhead the next generation DeFi staking based on the auto-staking and auto-compounding concept is Multi Finance. Apart from promoting a simple Buy-Hold-Earn concept, Multi Finance has also incorporated the popular concept of Multi-Level Marketing into its protocol, a move which is meant to leverage the positive marketing strategies made possible by this system for the betterment of the entire ecosystem.
This review focuses its elucidative lens on this project and I urge you to meticulously read along as I flesh out the peculiar perks of the Multi Finance Protocol.
- What is Multi Finance?
MultiFinance is the leading Multi-Level Marketing (MLM) system in DeFi 3.0 Auto-Staking and Auto-Compounding protocol that delivers a sustainable APY up to 636,713.69%. It is a next-generation, community-oriented, fully decentralized DeFi project that allow users to utilize a simple Buy-Hold-Earn system to grows portfolio in their wallets.
Within Multi Finance ecosystem, users are exposed to a lot of interesting products such as Sure-Win lottery, MultiSwap, Watch-to-Earn based on NFT levels, Multilink W3, MUSD stablecoin etc., which they can interact with daily. Many of these features will be released in phases according to the schedule in the roadmap. I will be expanding on each of these products during the course of this review.
Multi Finance Protocol team composition is made up experienced team members that include talented blockchain developers who are well versed and experienced in the crypto space. The protocol has already passed audit certification from Coinscope and the identities of the project team members have equally been KYC verified by the same firm.
2. Buy-Hold-Earn powered by a unique Auto-Staking and Auto-Compounding Concept
Staking platforms are attractive and they offer great benefits to users by offering them an opportunity to lock their tokens for passive interest. Multi Finance has built its system round the hugely successful staking concept, albeit this time, staking on Multi Finance is done directly in users’ wallet. Users simply need to buy and hold $MLM in their wallet to enjoy juicy interest based on a Rebase mechanism. This Rebase token mechanism supports investors to enjoy staking benefits automatically and it is well designed to ensure that everyone will get good revenue by just owning tokens in their wallet and holding them for a long time.
Multi finance has provided users with a working and effortless model to generate cash flow. How does this work? The Math is simple. Every 15 minutes, holders are paid 0.025% compound reward directly into their wallet. Hypothetically, let’s say you invested $1000 of $MLM today. At the end of 1 year, this will be worth a massive 6,367,136.91 of $MLM. Interesting, Isn’t it?
A fixed APY of up to 636,713.69% return on an investment is not only surprising but also massive. The team has done a thorough calculation before arriving at this value and it will take over 10 years for the mechanism to rebase all of its tokens. To handle the liquidity problem and to avoid a broken chart or indiscriminate dump, there is a Buy/Sell tax up to 20%. This level is set to protect users and encourage them to hold tokens in their wallets since staking itself is a long-term adventure that is meant to provide a win-win outcome to users. However, for committed users who joined the Multi-Level Marketing referral mechanism, they will be able to reduce this to 10%. I will throw more light on this in the next section.
3. Multi Level Marketing and Referral Ranking
Multi Finance has in place a Multi-Level Marketing (MLM) model that creates a playground for lovers of Multi-level programs to experience the good things about MLM, play hard and win valuable rewards in their wallets. Unlike Ponzi schemes, Multi Finance MLM model is designed with a right approach that takes advantage of the multi-level system to create community cohesion and open up attractive programs that benefits community users.
4% of trading fees will be used to pay in $BNB for unlimited levels of marketing. When users take advantage of referral mechanism to build their MLM ecosystem, their buy/sale tax can be greatly reduced after they enter the information of their referral in the Multi Finance App. The player will receive a buy/sell tax reduction which can be as low as only 10% for each buy or sell action instead of the in initial 20%. The more BNB of $MLM a user hold, the higher rank he can get and there is unlimited levels. This means if you hodl 20 BNB of $MLM, you can get referral bonus up to level 20.
It is apt to point out that the MLM referral event is optional and is entirely up to users to join if they love the system and want to enjoy the benefits it offers. Users are not required to compulsorily invite others before they can enjoy the beneficial products that Multi Finance has to offer.
4. Sure-Win lottery
This is the product of Muilti Finance that allows holders of $MLM token to purchase lottery tickets which can give them a chance to be included in a draw to win great reward per spin. It is a sure-win lottery and the ticket fee is only 10 $MLM. There are no strenuous requirements or limitation for lottery, apart from just buying some $MLM and joining any of the lottery session.
The lottery reward is funded using of 1% from trading fees which is transferred to a dedicated reward pool. Every 30 seconds, all holders of $MLM that purchase a minimum of 1 ticket will be drawn by contest where they will be selected by chance to win between 5 $MLM to 100 $MLM. The probability of the reward that you can obtain from the lottery system is displayed in the graphics below:
5. MultiSwap — Enjoy a CEX in a DEX
Decentralized exchanges based on the Automated Market Maker(AMM)have redesigned token swaps process which was previously negotiated between parties as peer-to-peer sales to an automatic peer-to-contract transactions. Despite the enhancements brought by DEX swaps, it has its own limitation. In some DEXs, users are unable to set and use order books. They are only able to exchange assets based on market price. This makes them to keep their eyes glued to charts all day long in order not to miss out on the best price to sell or buy their tokens.
MultiSwap will function as an exchange that blends both CEX and DEX attribute in one place. It will allow users to set their orders based on their preferred trading price using the order books. Users will no longer need to keep vigil and monitor price charts because as soon as the price hit their target, their orders become filled and this is done automatically.
After Multiswap is launched, everyone will be able to swap any BEP-20 currency pairs with each other. MultiSwap contract will be responsible for placing an order and holding it until it is executed and the DEX can be linked to Pancaswap API in order to make token swaps more proactive. In addition to this, MultiSwap will have a tool to check contract in order to reduce the chance of listing scam tokens which could become harmful to investors.
6. Watch-To-Earn Trend and NFT Followers Concepts
Several projects have developed earning concepts that enable users to passively earn tokens by doing activities such as moving, exercising, walking or playing games. Most of these earning concepts have been successful to a large extent. Multi Finance is promoting a new trend of Multiverse concept that allows passive earning using an innovative Watch-To-Earn (W2E) mechanism that enable users to make money just by watching videos or listening to their favorite music.
Multi Finance is working with partners and also collaborating with advertising companies that need to promote their products. These videos will be uploaded onto the website and users can start to earn when they view them. Individuals and content creators holding $MLM in their wallets can as well contribute their videos and upload it to the website which will allow them to farm bounty incentives which can be withdrawn anytime. Earning ratio will be based on each user’s asset bag and NFT levels.
There are 4 levels of NFTs within Multi Finance NFT W2E multiverse. The 4 levels of NFTs are Silver, Gold, Diamond and Red Diamond. To start the journey into the watch-to-earn function, each player has to own at least 1 NFT out of these 4 NFT levels. Ads videos revenues from the reward pool are distributed to $MLM hodlers based on their NFTs levels. The higher level, the higher your earning ratio, the higher the income that you will get.
7. The Middleware Linkage between Off-Chain Real Life and On-Chain Smart Contracts
Multilink W3 is another product of Multi Finance that is bound to make impressive impact. There is a challenge of connectivity between input and output transfer from real life data into blockchain. As a result of this, Smart Contract does not have the ability to interact with any data source outside the Blockchain. This makes it difficult to develop Smart Contracts with diverse function.
Later in its roadmap, Multi Finance plans to release MultiLink W3 with the mission to become the multi networks that will allow the integration of real-life data into smart contracts. This will provide additional catalyst for protocol development and expansion as it will definitely attract the attention of many trusted data providers access to data directly to MultiLink W3.
MultiLink W3 features will include blends of exciting data linkage concepts and it will serve as a decentralized network of information transfer bridge from real life into blockchain. It has an ultimate goal of acting as a dependable middleware that fill up the missing link between smart contracts and external data sources, allowing smart contract to securely access an off-chain data feed.
8. Tokenomics and Fees Structure
$MLM is a BEP-20 token and it is the main token used in Multi Finance platform. The token has a maximum supply of 15,000,000,000 and 400,000 $MLM has been burned. Beside the amount of tokens for presale and the ones used to add liquidity, all tokens have been locked in the locked pool for 10 years; a move which was done to protect the interest of investors. The price of the token is secured through an asset fund; hence, it will be very resilient to market fluctuations.
For every buy/sell action, the platform charges 20% as tax; a move which is meant to encourage long term hodling. Just like I said initially, for users who have an upper referral, they will be able to reduce this by 50%.
Multi Finance ensures that all fees charged from traders are reinvested back into the protocol to benefit ecosystem users. For the 10% charged from users with upper referral as buying/selling fees, 2.5% is used to fund insurance wallet, 2.5% goes to treasury, 4% of it is used for marketing while 1% is used to continuously fund the sure-win lottery reward basket pools.
The insurance fund is meant to sustain the system and provide reliefs to the ecosystem. This fund will be used to avoid flash crash, swan events, sudden pump and dump whales and token buy-back when necessary. The treasury reserve will be used to fund marketing, new products, services, and projects that will expand and provide more value to the community.
9. Closing thoughts
Multi Finance is a protocol that has leading products which are designed to offer enriching benefits to investors. With an array of products such as auto-rebase reward mechanism, watch-to-earn, MultiSwap, Multilink W3, Sure-win lottery among others, Multi Finance has been able to provide users with high caliber functionalities and utility options. These individual products are just like standalone projects that are not only self-sustainable but can also guarantee effective return of values. Their conglomeration into a single platform will definitely drive a sustainable impetus that is capable of shooting Multi Finance into its zenith.
The project has found a right approach to harness the positive powers of Multi-Level Marketing for the expansion of project user base and facilitation of community cohesion. As a next generation pacesetter in DeFi 3.0 auto-staking and auto-compounding, Multi Finance has provided investors with a more convenient model that encourages hodling while earning lucrative APY returns at the same time.
10. Social Channels
Multi Finance’s Website
Multi Finance’s Twitter
Tweets by @MultiFiProtocol
Multi Finance’s Telegram Chat
Multi Finance’s Telegram announcement
Multi Finance’s Discord
Multi Finance’s Reddit