TMTG and MCS Collaborate on DeFi

TMTG (The Midas Touch Gold), a Hong Kong-based virtual asset (cryptocurrency) company, is collaborating with the cryptocurrency derivatives exchange MCS (MyCoinStory) to collaborate on research and development on a decentralized financial DeFi project that will lead future of finance.

TMTG and MCS plan to create practical use cases of DeFi for general users as well as cryptocurrency traders through this DeFi joint research.

Decentralized finance, known as DeFi, refers to a decentralized virtual asset financial service that is implemented through a decentralized protocol on the platform without going through an intermediary by using a blockchain. Representative decentralized financial DeFi use cases include cryptocurrency deposits, loans, and staking products.

A TMTG official said, “Due to the rapid growth of the DeFi field this year, most of the projects bear little or no significance in DeFi. We felt that there was a need for an in-depth research on the new concept to broaden our understanding to create a service that appeals to the general users in their daily lives.”

An MCS official said, “DeFi has been the most significant topic in the blockchain industry this year but there is not enough infrastructure to support DeFi. Our joint research will focus on establishing a meaningful infrastructure to pave the path of DeFi development.”

TMTG is about to release the first version of the mega DeFi project “TOM (Touch of Midas) Finance” early next month.

TMTG is ranked 85th in the market capitalization of cryptocurrency based on CoinMarketCap. MyCoinStory (MCS), a cryptocurrency derivatives exchange, is rapidly growing and has grown from the 40th place to the 20th place based on Coingecko ranking within one month.

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