2022 has seen a crypto wipe out of monumental proportions with the value of popular cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) falling by more than 50%. However, a newcomer, My Freedom Coin (MFC) doesn’t seem concerned about the obliteration of other projects. It has pioneered a crash-proof, wipe-out resistant structure that is the first of its kind and the type of token that the “HODL” community should load up on with what’s left of their greatly reduced portfolio.
My Freedom Coin finally proves that crypto projects can be crash proof
My Freedom Coin has been built to be crash-proof. A bold claim, but it’s entirely true. Its treasury holdings are completely transparent, with all funds held by the project on the BEP-20 blockchain and viewable by anyone. It is the only project with a guaranteed floor price, calculated by the BUSD in its treasury divided by the circulating number of My Freedom Coin (MFC) tokens.
When Peer-to-Peer fees are charged, which are always 0.5% of the transaction total in MFC are taken out of circulation, which ensures that the Floor Price increases as time goes on.
Addressing Vitalik Buterin’s concerns following Terra (Luna)
Buterin made comments recently following the collapse of the Terra (LUNA) ecosystem and its TerraUSD (UST) algorithmic stablecoin.
In a May 25 blog post, Buterin noted that the increased focus on crypto and DeFi following the collapse of Terra is “very welcome,” but warned against a complete write-off of all algorithmic stablecoins.
My Freedom Coin has addressed a number of his concerns with a new paradigm for cryptocurrency trading, holding, and collateralized lending. MFC is both a wallet, bank, and exchange all in one, and has been designed from the ground up to be crash-proof—a remarkable achievement in the context of the horror recently seen by participants of the Terra (Luna) project.
While other tokens fall apart in a bear market, My Freedom Coin is likely to end up being the next project to achieve 10-60x gains before the bear finally goes back to hibernate.
How does My Freedom Coin work?
My Freedom Coin (MFC) is the first user-owned DeFi platform of its kind, with a use case as a crash-proof asset and store of value that offers investors steady growth.
When compared to other digital assets, MFC is more “stock-like” than “crypto-like” because it is not meant to be as volatile or susceptible to market crashes.
This DeFi project sets a Floor Price for its native token by setting up a treasury with BUSD stablecoin assets—enough to buy back all MFC tokens if needed. It is designed so that it is not possible to collapse to zero, like others in the past month alone.
My Freedom Coin operates on the Binance Smart Chain. All transactions carried out on its network contribute to the Coin’s rising value, which is advantageous to all MFC owners.
Collateralized lending no longer a risky proposition
Users can use their MFC to borrow from BUSDT. The loan is 0.98% per month and is charged daily in MFC. The Floor Price goes up because this is taken out of circulation. 12-month loans are renewable before the year is up. Renewals cost 0.5% and require 100 BUSD in principal.
As a result, the platform is a trading platform and a type of bank account for investors in cryptocurrencies and DeFi.
Even though the yield from DeFi projects outperforms the average interest rates offered by high street banks in 2022—which hover around 0.05% — MFC outperforms those rates by a significant margin.
My Freedom Coin is different from anything that has come before it
My Freedom Coin is different from other DeFi lending platforms because it has zero liquidation risk. Other DeFi platforms have literally collapsed during the last month because they use open-ended contracts that can never be fully collected if there is ever a problem during the repayment period.
MFC rewards users for promoting and using the network. All peer-to-peer MFC transactions are charged a small fee by the protocol. This helps to decrease the supply and raise the Floor Price. This is an incredible initiative for everyone who owns tokens because it makes the asset more stable and valuable.
Additionally, the protocol makes it possible for users to directly benefit from one another through transaction fees, exchange fees, and loan interest. This changes how the traditional lending systems work and provides all the benefits to holders of MFC.
Onboarding into My Freedom Coin
MFC is free to download on iOS and Android via the My Freedom Coin website. Make sure to use the code ‘CXPMGOSKJT’ to join the platform.
Is MFC going to be the next SOL?
The well-known altcoin Solana (SOL), which had one of the craziest runs in 2021, has long been among the top altcoins. SOL peaked at $250 and started 2021 trading at about $2.50.
What goes up must come down, though, and SOL has experienced one of the biggest retracements among altcoins, falling more than 85% from its ATH.
Due to its superior speed, scalability, and security compared to other cryptocurrencies, Solana has grown in popularity. SOL was an innovative and forward-thinking project at the time, but analysts think that My Freedom Coin could be the next SOL in terms of its meteoric rise. SOL may not reach its ATH again, but pundits are convinced that My Freedom Coin might achieve a 60x return much sooner than other coins might return to pre-bear market levels.
Are analysts convinced about My Freedom Coin?
The MFC token and ecosystem have already received extensive coverage and My Freedom Coin is a long-awaited innovation. The project is so appealing to crypto investors because it takes a complicated process and simplifies it into a single investment vehicle with a crashproof structure. Analysts are debating rigorously whether My Freedom Coin can achieve the compound growth rates of coins like Eth, Sol, and BTC, but are largely in agreement that My Freedom Coin, with its higher adoption rates and more robust community, can compete with the “big boys” over the coming months.
For more information on My Freedom Coin, please check out their official website and their Twitter, Telegram, Discord, and Reddit. The app can be downloaded via their website.
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