What Is a Mainframe (MFT)?

Mainframe (MFT) is a blockchain platform for decentralized applications that seeks to enable users to send data, store files, and manage payments. The mainframe platform has been rebranded as Hifi Finance (MFT) and serves as a lending protocol that seeks to permit every individual to borrow against their cryptocurrency. According to its whitepaper, MFT aims to fix lending rates and borrow through trading tokenized debts. Hifi Finance utilizes a bond-like device, conveying an on-chain debt that settles on a specific future date.

The Hifi Finance protocol seeks to solve top-priority issues like liquidating at-risk collateral accounts. The MFT Protocol suggests a liquidation architecture that pushes back the resources to the ecosystem participants and is designed to function efficiently even during intense volatility.

Further, MFT is the native token of the Mainframe platform. The MFT token is an ERC-20 token that empowers the community governance of the Lending Protocol. MFT tokens can be staked, streamed, or burned. Streaming is a method of automating the access to acquisition as a function of time. Burning is the process of transmitting tokens to a goal that makes them irrecoverable. MFT tokens seek to arrange and balance incentives within the system and aim to be essential for the sustainability of protocol advancements. From the beginning to the end of the Lending Protocol, MFT tokens are operated to aim to vote on governance recommendations, unlock discounts, and acquire greater capital efficiency, additional protocol rewards, and access to extra leverage.

Furthermore, MFT token holders can vote on changes to be done on the Lending Protocol. MFT holders are entitled to vote on counting new collateral asset types, modifying the risk parameters for collateral asset types, modifying incentive parameters, improving the price feeds, changing crisis shutdown procedure, triggering emergency shutdown, and boosting the system. 

History of Mainframe (MFT)

Mick Hagen is the founder of Mainframe. The platform launched its whitepaper in July 2020. The maximum total supply of MFT tokens is 10,000,000,000.