Metacash is decentralized finance that uses technologies to remove the middleman while assisting Metaverse. Metaverse is a digital reality platform combined with multiple aspects like online gaming, virtual reality, augmented reality, and cryptocurrencies to let users interact virtually. The mission of this network is to be the coin of Metaverse. The primary goal is to make the DeFi system simple enough to be used by everyone without understanding the concept in detail and integrate this currency in the future Metaverse. To achieve this, Metacash has launched an innovative reflective token that seeks to pay dividends in an already established token, i.e., BTC.
The whitepaper states that the percentage of people using cryptocurrency is very low. However, the rate of cryptocurrency is increasing with time. Therefore, the network seeks to transform the DeFi system and promote the adoption of cryptocurrency in an easy, secure, and rewarding manner.
The dividend mechanism of the Metacash is to incentivize token holders to hold tokens to seek to earn dividends from trading. The dividends are entirely dependent on the volume and proportional to the amount of Metacash token holders have in their wallets and not on the price of META or BTCB. A minimum token amount of $50 Metacash is required in the wallet to earn dividends.
META is a BEP-20 token of the Metacash ecosystem. META tokens can be utilized to fuel the liquidity pool. Liquidity pools help users trade cryptocurrencies on decentralized exchanges (DEX). A particular percentage of the tokens can be redistributed to holders and allocated to the marketing wallet.
History of Metacash
Metacash was launched on November 5, 2021, on the PancakeSwap Exchange. PancakeSwap is an automated market maker (AMM) - decentralized finance (DeFi) application that aims to provide users with liquidity and the facility of token exchange using farming by seeking to provide fees in return. AMM seeks to allow the digital asset to get traded in an automatic and permissionless manner. The maximum total supply of Metacash tokens was 1,000,000,000,000,000 META coins.