Multi-Chain Capital: Long Term Plans
Our Year-End Summary and Vision for the Future
Welcome to the last update of 2021 for Multi-Chain Capital.
[Recording on Twitter Spaces]
Mission Statement for Multi-Chain Capital
Multi-Chain Capital provides a simple way for DeFi users to benefit from Yield Farming investments. By doing the heavy lifting, in terms of bridging, farming and investing, MCC returns yields only available in other Layer 1 chains (Fantom, Polygon, etc.) to users on Ethereum. By holding MCC, the user earns both reflections and a future share of profits from the farming investment portfolio.
- Over 14,800 Holders.
- 35.7% of $MCC Burned to the Blackhole via Hyper-Deflationary Measures.
- 10% of Funds moved to a Multi-Signature Wallet.
- Completed Audit with CertiK.
- Liquidity Re-locked for 100 Years — Showcases long term commitment.
- Taxes Reduced to 8% — Driving $MCC to Higher Volume.
The Evolution of Multi-Chain Capital
Over the course the project, Multi-Chain Capital has evolved in numerous areas to meet community needs and improve the long term viability of the project.
There are three major areas of evolution we have, and will continue to focus on:
- Tokenomics Evolution — Taking $MCC from Inflationary, to a fixed supply and then Hyper-Deflationary.
- Security Evolution — Multi-Signature Wallets and Contract Audits.
- Rewards Evolution — Reflections, Buy Backs and Future Products.
The Tokenomics of Multi-Chain Capital have evolved over time to best meet the demands of the market.
- In the beginning, we had incidental inflation caused by a bug in the contract, which caused supply to double in roughly 10 days. This was not sustainable in the long run.
- Next, we upgraded to Version 2, with a fixed supply, however there were issues in deployment that required us to upgrade to Version 3.
- Finally, with all the past lessons taken into account, we focused on making the Version 3 Contract to last long term and actively reduce circulating supply over the long term by introducing Hyper-Deflation.
To enhance the security of the project, we have focused on three major areas:
- Farming Funds Security — How secure are the funds that are invested?
- Token Contract Security —How secure is token contract in the code and deployment?
- Locked Liquidity — How much and for how long is it locked?
Focus on Decentralization for Risk Management of Funds
Our aim is to remove central points of dependence and increase security by way of introducing technical measures like a Multi-Signature wallet.
For the funds on the Ethereum Network (~10% of Total), they are currently in a Multi-Signature wallet controlled by the Multi-Chain Capital Team and advisors.
For the funds on other networks (Fantom, Polygon, etc). the funds are invested directly into DeFi Farming or DeFi Bank sectors which currently can have complex interactions in a Multi-Signature wallet. We are exploring all options to increase security here and move to a Multi-Signature wallet on each respective chain in the future.
Token Contract Security
In order to ensure the token contract is fully secure, we have had two firms audit the contract, and both have passed as fully secure.
Liquidity Lock Duration
We are increasing time for the locked liquidity on Uniswap and PancakeSwap to 100 years.
The total locked liquidity is $10.4M combining both MCC/ETH and MCC/BNB.
Uniswap Liquidity Lock:
PancakeSwap Liquidity Lock:
Rewards Evolution: Tax Reduction
In an evolution in how we reward the holders and we have decided to modify the taxes for $MCC down to a total of 8%. The driver for this change is to attract additional volume to Multi-Chain Capital which in turn will grow the project further. This also makes us having the lowest taxes in stop farming as a service project.
What does a tax reduction do for Multi-Chain Capital?
Setting the taxation levels on buys and sells is like fine tuning an engine. If taxes are too high, trading volumes will usually stagger as due to the high barrier costs to entry.
At the same time, we want to ensure that we are able to confidently build a strong asset treasury that will be used for buy backs, marketing and development of future products.
As our market cap grows we feel it is important to lower the barrier of entry from 10% to 8%. This 2% reduction may seem small, but it allows more user participants to feel comfortable purchasing at a higher market cap whilst still being able to enjoy the reflections.
Will I be receiving less reflections due to the tax reduction?
MCC is a volume based token hence with slightly lower taxes, we hope to achieve higher trading volumes which can in turn result in even more reflections for holders.
The total Treasury value is currently valued around $11.7M.
We have three main areas in the Multi-Chain Capital Farming Strategy:
#1. Safe Stablecoin Returns
#2. Farming with Little to No IL (Impermanent Loss)
#3. Compounding Returns where Possible.
#1. Focus on Constant and Safe, Stablecoin Returns.
The major focus here for Multi-Chain Capital is to ensure that the stablecoins we invest in are highly liquid and highly backed by assets or collateral. Put simply, not all stablecoins are created equal, and we have decided to focus on the three majors, $USDC and $DAI and $USDT. We then put these stablecoins into Interest Bearing or Farming Opportunities where the APY ranges from ~7% to ~24%.
Scream on Fantom
- $1,201,957 in $USDC and $USDT Earning ~7% APY.
- $FTM and $CRV Earning Interest
- Earning $SCREAM Tokens as well, currently valued at $41.27
Curve on Fantom
- $739,493 in Curve, earning trading fees as well as $FTM and $CRV.
- Multi-Chain Capital Currently Owns 1.1% of the Curve 2Pool on Fantom
Farming on SpookySwap
- $196,804 in the $USDC / $MAI Liquidity Pool earning 24.3% APY
- Earning $BOO Tokens Currently Valued at $18.85
#2. Focus on Farming Assets with Small IL (Impermanent Loss).
- ~$98,000 Invested in $FTM and $TOMB vault which is a liquidity position with two assets which remain stable in price. $TOMB is designed to be pegged to $FTM, so both assets remain stable in value reducing IL.
- Currently Earning 155% APY, with over $22,000 in profit so far.
#3. Focus on Re-investing and Compounding Investments.
When we have chances to compound, or stake earned tokens for additional compensation, we will take the opportunity to increase the treasury balance and take a long term view of the market.
When earning $BOO, we can stake it for additional tokens, so in this case, all of the $BOO earned from SpookySwap is going into earning additional $FTM which we can harvest and reinvest.
Staked SCREAM on Tarot
With the earned $SCREAM tokens, we have taken them and deposited them into Tarot, which is a project which enables users to leverage their Liquidity Pool positions.
We have taken the $SCREAM and deposited into the supply section, earning 62% APY.
Frequently Asked Questions
Q: Why does the circulating supply fluctuate on the API?
A: This can happen as users Bridge tokens from Ethereum to Binance Smart Chain (or the reversed), as the tokens are considered out of circulation once in the Bridge Contract. These tokens are then introduced again into circulation once the claiming is completed on the opposite side.
Q: When will the website have in-depth farming information?
A: The web development team is adding the Zapper.fi API directly into the web dashboard so that we can display all farming information live and in real-time. This will be a major enhancement to our site, look out for more updates.
Q: Will you have videos to explain Multi-Chain Capital?
A: Yes, the team is working on YouTube Channel which will have explanatory videos regarding Multi-Chain Capital and demonstration videos on “How to Buy MCC” and “How to Bridge MCC”.
Q: What is the process of performing buy backs?
A: Buy Backs are based on volume and Treasury growth. As volume grows, as will the buy back amounts and the Treasury capital to perform additional buy backs. We deliberately do not pre-announce buy backs as to remove people from selling into them.