Metabank — — The Decentralized Reserve Currency
Metabank is a rising innovation in the emerging cryptocurrency market that is breaking the shackles of traditional banks and borders to create a new meta-universe financial ecosystem. Metabank is currently building a community-owned decentralized financial infrastructure which brings more stability and transparency to the world of finance.
New Type of Bank in Meta-Universe
As technology evolves, the meta-universe will continue to grow. Cryptocurrency assets are a brand new investment field located at the intersection of the Internet and emerging markets. Past innovations such as Internet connectivity, cloud intelligence, global mobility and financial technology have been combined with the trust and computational layers of cryptocurrencies to form an Internet-native cryptocurrency cloud economy. This kind of economy continues to grow rapidly by exporting Internet goods and services to traditional economies around the world. In turn, the adoption of decentralized Metabank as a technology representing a new layer of ownership of financial networks is driving this paradigm shift known as a new type of bank in the meta-universe.
The Progression of Cryptocurrency Growth
The Internet-native cryptocurrency cloud economy is emerging like a wave. Digital currencies, cloud economy platforms and financial ecosystems are three of the most compelling phases of cryptocurrencies to date. Similar to the Web 1.0 and Web 2.0 phases of the Internet, they all build on and further enhance the previous phase. Specifically, Bitcoin’s blockchain enables trusted value exchange; Ether’s computers enable legal agreements in digital commerce for digital businesses; decentralized Metabank enables a new meta-universe banking ecosystem. Either innovation lays the foundation for achieving a more robust meta-universe based global community. Historically, as the cryptocurrency economy expands, the closest trend will see the most rapid growth, and Metabank exactly follows this trend.
Innovation Across the Banking Industry
Metabank is an ecosystem of meta-universe financial services run on Terra. Although Metabank has only just been born, it will rapidly mature and facilitate the landing of some of the fundamental banking services in the near future, including Stablecoins, lending, exchanges, derivatives, data, asset management, synthetic assets, etc.
Overturn in Banking Industry
Metabank is an innovative blockchain project that aims to build the world’s first metaverse bank. It has been developed by an anonymous team of crypto experts and developers. The project is maintained and run by the Metabank DAO community. MBD token is the native currency of the platform, which will be equivalent to the US dollar in the metaverse. Metabank will help you take control of your finances and make more choices for your money.
On major decisions, Metabank will vote collectively, and MBD token holders can speak and decide the use of the treasury. They can also participate in the development of the DAO and early investments. Consequently, the DAO receives the reward, and holders get rewards from DAO investment income.
Furthermore, Metabank will utilize part of the funds for developing the Metaverse project, expanding its treasury assets, and encouraging the stability of the Metaverse ecosystem as a whole. The MBD token will be controlled at a high level by the Metabank DAO community, which will create a policy-controlled currency system. The Metabank system aims to optimize consistency and stability so that MBD can serve as a global unit of account as well as a medium of exchange.
Development Route
Phase I — Bonding & Staking
Metabank will first launch the function of bonding and staking, raising funds by selling bonding, most of which will be put into the treasury, and all MBD holders will decide how to use the funds, while MBD holders can stake the MBD for high interest.
Phase II — Investment Incubation
Metabank will participate in DEX, DeFi, GameFi, NFT, etc. through investment, Token swap and incubation to enrich the Metabank ecology and return the revenue to the users, realizing multi-level governance with MBD as the link.
Phase III — Lending
The total value lock (TVL) served by the DeFi application has grown more than 7,700 times in the last year, reaching $172 billion by the third quarter of 2021, and the total lock has reached 1% of the total deposits of commercial banks in the U.S. This has led DeFi to become the 18th largest bank in the U.S. in terms of assets. Metabank is committed to being the number one super bank in the meta-universe, through a self-governing approach, with community members voting on the type of cryptocurrency to be lent, and a rapid expansion of assets, with far more assets at stake than traditional DeFi, giving users a higher return through a new economic model. It will also open up lending services to different institutions, and the interest paid by the institutions will be fully subsidized to the users, making the user’s revenue increase faster.
The current DeFi lending collateral model is based on over-collateralization, i.e. to ensure that a trust-free loan can occur. Lenders will need to deposit collateral with a value greater than the amount lent, so it all comes down to the type of collateral and collateral ratios on the various DeFi lending agreements. This also leads to extremely limited choices — basically limited to a very few mainstream crypto assets such as Bitcoin, Ether, etc. Other assets of the meta-universe will be introduced in the future to realize a true meta-universe bank.
Phase IV — Financial Derivatives
The derivatives ecology of Metabank will be built by adhering to the concept of DAO autonomy and using Metabank as the main driving community for ecological autonomy, as well as the function of MBD ecology and governance pass to further promote the positive development of the ecology. The MetabankDEX will be established to put online the trading of financial derivatives, and any user holding MBD can enjoy relevant rights and benefits, such as discount on fees, financial snatching, and priority to participate in new shares with IEO, etc. Meanwhile, MBD will also be used as the incentive and governance tokens of Metabank’s subsequently launched derivatives decentralized exchange (MetabankDEX).
Metabank’s Vision for the Future
Crypto and DeFi are changing finance as well as the whole world. Metabank will face a brand new and bigger opportunity and market. Cryptocurrencies create a meta-universe owned by their users, and Metabank enables those users to own a part of that financial ecosystem. Metabank is the next window of innovation in the cryptocurrency cloud economy and financial technology. The internet has expanded access to information, blockchain has made information more transparent, and DAO has changed the management model. So Metabank is capable of revolutionizing the entire traditional banking industry.
In the traditional world, we deposit our money in banks and receive only a small amount of interest. Moreover, we cannot decide what to do with our money. If the central bank issues more money, we can only watch the value of our money depreciate and do nothing else. What Metabank is trying to do is to break the stereotypes, the amount of interest and the amount of additional money issued will be decided by community vote, and all the mechanisms to establish and use the money will be in the hands of all community members.
Do you have any opinion about Metabank? Please join our community, we want to hear your feedback.
Project Information Links
Discord: https://discord.gg/metabank
Telegram: https://t.me/MetabankDAO
Twitter: https://twitter.com/MetabankDAO
Website: https://metabankdao.finance
