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DeFiChain is a decentralized proof-of-stake blockchain that is specially dedicated to decentralized financial applications. As a fork of Bitcoin’s blockchain, DeFiChain allows DeFi applications (dApps) to implement more advanced through custom transactions, also known as DeFi Transactions (DfTx). There are loads of DeFi platforms out there – but many don’t support Bitcoin. This is an [...]
The Moonshoot Finance team is pleased to announce its auto-staking and auto-compounding protocol that offers the higher revenue.
While highlighting the benefits of the protocol, the developer team noted that it offers the following:
• Fastest and highest fixed APY of about 383,025.80%. • Automatic staking and compounding in each user's wallet. • 96 times rewards daily – every 15 minutes. • Fully KYC on Interfi and Pinksale. • No minting to a wallet. • Multiple use cases such as games, NFT, exchange, Launchpad, and staking.
The Treasury supports the MIF whenever the $MST token's price drops drastically. It also funds new Moonshoot projects, investments, and markets Moonshoot projects.
Moonshoot Insurance Fund
The MIF is the project's insurance fund that supports its long-term sustainability and price stability. To achieve this goal, it maintains a 0.02355% rebase rate that is paid to all $MST token holders.
The team explained what it intends to achieve with the MIF. According to the team, it was set up to prevent flash crashes through price stability, reducing downside risk greatly, and achieving the Moonshoot Protocol's future growth and long-term stability, among other things.
Towards this end, “5% of all trading fees are stored in the Moonshoot Insurance Fund which helps sustain and back the staking rewards provided by the positive rebase.”
The Fire Pit
The Fire Pit is where 2.5% of all traded $MST is burned. The amount of burned tokens is determined by the trading volume. The Fire Pit grows in size according to the volume; thereby reducing the token's circulating supply while stabilizing the Moonshoot Protocol.
Moonshoot Auto-Liquidity Engine (MALE)
The Moonshoot Auto-Liquidity Engine is designed to “inject automatic liquidity into the market.” Each buy or sell transaction attracts a 4% tax fee that is automatically stored into an Auto-LP wallet. The protocol's smart contract contains a mechanism that takes half of the wallet's balance and buys BNB automatically at the current price market.
The other half of the wallet balance will be used for liquidity and therefore give a 50.50 BNB/Moonshoot that will be “automatically added as new, additional liquidity into the market pair and raising the amount of liquidity in the pool.”
MALE does this every 48 hours and thereby allow $MST token holders to sell their assets at their convenience with little or no market slippage. That's also a brilliant way to maintain protocol stability and ensure that the APY is upheld throughout the Moonshoot's lifespan.