MeconCash and Somish Blockchain Labs have collaborated to create MCFinance, a DeFi ecosystem powered by Polygon’s Matic PoS chain, an Ethereum sidechain that supports up to 7,000 transactions per second and an extremely low gas fee — as low as $0.000002.

The first product to be launched is the sidechain-based AMM decentralized exchange named MCF DEX. This will closely be followed by the launch of the second product, an NFT platform that will be integrated so that users can benefit from the infrastructure of lightning-fast speed and a gas-free environment. Although gas fees are low already, users will have to go through a separate process of acquiring gas. MCFinance has taken it a step further for users, eliminating the separate process of acquiring gas by building a gas station network.

MCFinance’s governance token, MCF, will be available to initially mine through MeconCash staking and liquidity mining of various liquidity provider tokens. MeconCash staking will be first available on April 19, with liquidity mining opportunities soon to follow.

MCFinance will not go through any seed investments nor private sales, however, it will initially release 35% of the total supply in the initial staking and liquidity mining event to the public in order to diversify governance power to the community.

The main launch of the first product, MCF DEX, is scheduled for late May this year with much more to come this year.

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