Project Update — March 2022
Incubation Projects and Expansion to Fantom
- Over 32,000 Holders on Ethereum and Binance Smart Chain and Fantom Chain.
- 5,400 Nodes Created Across Ethereum and Binance Smart Chain.
- New Project Incubations Providing An Additional Pillar of Sustainability for #MultiNodes
- Expansion of $MCC to Fantom on SpookySwap
- Integration of Reflection Taxes for CEXs (Centralized Exchanges)
- Total Treasury Value is now at $24.8M
- Circulating Supply Down to 1.74T $MCC
(~17% of Supply Locked by MultiNodes)
Incubation Project: Auto Donate to Ukraine
One additional pillar of sustainability for MultiNodes comes from investments in incubations projects that provide a return to an external cause, as well as a return to $MCC holders.
The first such incubation project from Multi-Chain Capital is:
“Auto Donate to Ukraine” — $ADU
Using the SmartContract logic in $ADU, the token will automatically distribute $ETH, $BNB and $FTM to the “official” support address for crypto donations to Ukraine.
Tokenomics of $ADU:
- Tax On Buys: 10% Reflections to Existing Holders of $ADU
- Tax On Sells: 5% Sent to the Ukraine Donation Address,
5% Sent for MultiNodes Buy Backs of $MCC
So far, over $300K of crypto donations have been facilitated by the $ADU project.
The returns to $MCC holders have been over $300K so far. These funds will be used to buy back $MCC for the MultiNodes rewards pool to keep the project sustainable for the long term.
So far, the total MultiNodes count is ~5,400, with a 50/50 split between the Ethereum and Binance Smart Chain.
Auto-Buy of MCC for MultiNodes
We wanted to decentralize buying operation as much as possible to enable incubation projects to directly provide purchase pressure to $MCC. After a variety of iterations, we have a SmartContract (Credit: OKLG Buy Back and Burn) based system that automatically takes profits coming from incubation projects and buys $MCC to add to the MultiNodes rewards pool.
The Auto-Buy contract for $MCC is now active for Ethereum, Binance Smart Chain and Fantom. Any new incubation projects will be “hooked” into this contract to return profits to the native token.
Reflection Taxes Integration with CEXs
One issue with reflection and treasury tax tokenomics is that they only work well in a DeFi environment, but not with a CEX (Centralized Exchange).
Multi-Chain Capital’s $MCC Token contract however can enable transfer taxes on specific wallets, allowing all volume on-chain from the CEX to be taxed.
While we cannot enable transfer taxes on every CEX trade, we can enable it for the centralized exchange wallets on Ethereum and Binance Smart Chain. We have done so far for HotBit, and will be willing to integrate with other CEXs as well.
The current Multi-Chain Capital Treasury is valued at approximately $24.8M.
Our largest investment is currently in Convex Finance, with roughly ~$5M, earning ~33% APR.
- Buy on Uniswap on Ethereum:
$MCC on Uniswap
- Buy on PancakeSwap on Binance Smart Chain:
$MCC on PancakeSwap
- Buy on SpookySwap on Fantom:
$MCC on SpookySwap
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