MFChain – ICO Detailed Information

For years now, cryptocurrency enthusiasts have hoped for mass adoption that would allow them to actually use their digital assets. Using crypto for something more than trading and cashing out has been the dream of everyone involved with space, especially since digital coins stepped out of the shadows back in 2017.

It has been two years since the real hype began, and while there has been some serious progress — cryptos are still nowhere near mass adoption. There are now many online merchants that will accept crypto payments, and even crypto cards can be used almost anywhere, provided that you are willing to pay massive fees.

Even so, entering the mainstream still lies in the future, and large fees are certainly one of the reasons. Another reason is the fact that many still do not even know about cryptos. Others who do, might feel intimidated by the processes and requirements of operating the new asset. They need to learn and understand wallets, exchanges, transactions, and even blockchain itself in order to feel comfortable with them. But in the end, all of this can be achieved or bypassed by simplifying the process. Large fees remain a problem, especially when it comes to merchants. This is something that Modern Finance Chain wishes to change.

About Modern Finance Chain

Modern Finance Chain, or MFChain, is a project that is creating the most cost-effective crypto payment ecosystem in the world. The ecosystem would reward all participants, be they consumers or merchants. Its immediate goal is to become the foundation of blockchain-powered commerce, and allow coin holders to use their favorite cryptos for making real-world purchases, and at zero-fee, at that.

The project also works on its MainNet, which would use the BFG/POS consensus model, as well as a new masternode incentivization protocol. It will also allow the development of enterprise-level permissioned blockchains, atomic swap cross-chain transactions, verified digital identity system, multi-chain integration, and more.

Finally, MFChain's long-term value will come with the innovation incubator, which would provide a helping hand to new projects and startups. The project clearly has a lot on its plate, and there is yet much work to be done. But, the firm appears ready to meet the challenges, and it already launched its own token.

MFChain ICO details

Modern Finance Chain held its ICO back in 2018. Its preICO started on May 5th, 2018, and ended on July 31st. After a brief pause, the project held its token sale from October 15th until December 15th, raising only $209,000 in the process.

Its token, MFX, is a utility token, developed on Ethereum's platform. This makes it yet another ERC-20 token, which it will remain, at least until the project launches its own MainNet. Its ICO price was $0.0247 per 1 MFX, while minimum investment was 0.1 ETH. ETH was the only coin that the project accepted in exchange for their token.

Their soft cap was at 2,500 ETH, while the hard cap was at 33,000 ETH. For a time, it seemed like the project might make considerable earnings, as ETH price was over $220 when the ICO began. However, towards its end, the price of Ethereum dropped to $86, which likely had an impact on the low earnings when the token sale ended.

The project was registered in Saint Kitts and Nevis, and the only restricted area was the US.

Author: Ali Raza for Crypto-Rating.com