Mercurity Aims to Build an Open, Flexible, and
Autonomous DeFi Trading, Liquidity, and Payments Services for
Consumers Around the World
BEIJING and NEW YORK, Oct. 6,
2020 /PRNewswire/ -- Mercurity Fintech Holding, Inc. (the
"Company" or "MFH") (Nasdaq: MFH) today announced it's the first
public company to announce plans to launch an open, decentralized
finance (DeFi) platform that will be designed to solve retail
traders' global problems of low liquidity and capital utilization,
poor governance, token growth incentive deficiencies, and slow
transaction speeds. The Company's mission is to build a global,
unified, and diverse decentralized finance (DeFi) ecosystem by
connecting the world's best DEXs, centralized exchanges (CEXs), and
DeFi communities across the globe.
Today's DEX liquidity pool communities lack sufficient
autonomous governance to fully take advantage of their potential
value. Many DEXs distribute transaction fees based on liquidity
providers' actual contributions, but they neglect the value of
liquidity pool creators, early-stage liquidity contributors, and
non-financing community members, such as community managers,
marketers, and other industry influencers. Such DEXs lack important
incentives for non-financing contributors.
Autonomous Governance
In contrast, the Mercurity Open DeFi Platform plans to empower
each liquidity pool with a high level of autonomous governance and
growth incentives, including its own general partner and governance
capabilities such as setting transaction fees, pool access
requirements, trading rules, and voting rights. The Mercurity Open
DeFi Platform will be designed to allow each liquidity pool in a
DEX to become a programmable fund where anyone can create and
operate their own fund.
MER, Mercurity's platform governance token, will be used for
ecosystem development and incentives for trade mining, liquidity
mining, software services, and community growth and engagement.
Each DEX connected with Mercurity can also be independently
governed with its own platform tokens. The Pair Token will be the
liquidity pool governance and incentive token that enables each
pool fund to have a general partner. In addition, Mercurity's
triple liquidity mining will allow users to maximize their earnings
through swap transaction fees from adding liquidity and by earning
MER tokens and Pair tokens.
"The core of our platform is driven by unlocking and
accelerating value transfer between global DEX and CEX users
anytime, anywhere," said Hua Zhou, CEO of Mercurity. "Using the
speed and security of blockchain technology, our goal is to build a
global, open, flexible, and autonomous DeFi trading, liquidity, and
payments services to retail consumers around the world."
Enhanced Segmented Services
Mercurity aims to deliver a flexible open DeFi platform to best
meet customer groups' needs by leveraging the synergistic value of
its planned liquidity lending, impermanent loss insurance, and
automated market maker-powered (AMM) swap, synthetic asset, and
stablecoin protocols.
The Swap and Mercurity platform governance tokens, MEE and MER,
respectively, are expected to be available in the fourth quarter of
2020. The liquidity lending, insurance, stablecoin, and synthetic
asset protocols are estimated to be available between the fourth
quarter of 2020 and the first quarter of 2021.
Seamless Protocol Integration
Mercurity's protocols would operate independently or seamlessly
integrate on various DEXs to provide more value. For example, a
stablecoin liquidity provider (LP) could become an LP of a
synthetic asset or insurance liquidity pool as well. In addition,
Mercurity's on-chain, smart order routing (SOR) engine will be
designed to automatically connect Mercurity liquidity pools and
select the best prices for their respective users.
Trade Mining
While many DEX users bear higher gas fees and potentially larger
price slippages than on CEXs, most DEXs do not compensate traders.
In contrast, Mercurity considers traders to be equally important to
liquidity providers and, therefore, plans to ensure that traders
receive MER token rewards from their trading activity.
About Mercurity Fintech Holding
Mercurity Fintech Holding (Nasdaq: MFH) is a fintech company
that's building a new kind of global value exchange network using
blockchain technology. Mercurity's mission is to create a global,
unified, and diverse decentralized finance (DeFi) ecosystem by
connecting the world's best DEXs, CEXs, and DeFi communities across
the world. The company's plan to launch swap , lending,
insurance, stablecoin, and synthetic asset protocols hopes to
provide an open, flexible, and autonomous DeFi trading, liquidity,
and payments services to consumers anywhere, anytime. The Mercurity
Open DeFi Platform will be designed to allow anyone to create and
operate their own liquidity pool fund, develop innovative DApps,
and to serve as the infrastructure for a programmable fund where
each pool in a DEX will aim to have an unprecedented level of
autonomous governance capabilities and growth incentives.
Mercurity's on-chain, smart order engine (SOR) will be designed to
automatically connect liquidity pools and select the best prices
for their respective users. Headquartered in Beijing, Mercurity has an office in
New York. For more information,
visit www.mercurity.finance.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"aim," "mission," "target," "anticipate," "believe," "estimate,"
"expect," "hope," "going forward," "intend, " "ought to, " "plan, "
"project," "potential," "seek," "may," "might," "can," "could,"
"will," "would," "shall," "should," "is likely to" and the negative
form of these words and other similar expressions. Among other
things, statements that are not historical facts, including
statements about the Company's beliefs and expectations are or
contain forward-looking statements. Forward-looking statements
involve inherent risks and uncertainties. A number of factors could
cause actual results to differ materially from those contained in
any forward-looking statement. All information provided in this
press release is as of the date of this press release and is based
on assumptions that the Company believes to be reasonable as of
this date, and the Company does not undertake any obligation to
update any forward-looking statement, except as required under
applicable law.
Contact:
Xingyan Gao
Mercurity Fintech Holding Inc.
ir@mercurity.com
Tel: +86 (10) 5360 6428
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SOURCE Mercurity Fintech Holding Inc.