Hello, frog nation! I’m an early supporter of Wonderland and the vision of a decentralized VC powered by the frogs. That said, I want to bring our project MiFi protocol into your eyes. This mining finance project allows everyone to participate in PoW mining and share revenue in BTC. I see Wonderland is keen on investing in liquid staking; why not also mining?
MiFi protocol (an SPV of Helios Fund) is the first protocol of mining finance ever created. It comprises 3 layers of value creation:
Cost-efficient Mining : Our team has multiple years of experience and connections across the mining industry. We mine BTC and altcoins. We make the best deals on mining machines, electricity and hosting. Likewise, given the volatility of the mining equipment’s prices, we apply a profit-focused purchasing strategy for mining devices and altcoin mining. We gain and hedge over the market even when BTC price drops to a mining break-even point.
Smart portfolio rebalancing : The protocol is designed to mine a basket of PoW cryptocurrencies (Bitcoin and selected Altcoins) and periodically convert Altcoins to Bitcoin (BTC). This strategy is generated through a profitability study which proved that Altcoin mining and conversion in BTC outperformed simple BTC mining by 3x.
DeFi layer: We are creating a dapp and MiFi token that will provide a pathway for investors to participate in mining and revenue share. MiFi token is backed by real assets, the mining machines and their hash power. Token holders can stake the MiFi tokens on the Dapp to receive periodic rewards in BTC directly on their BTC wallet.
The token’s maximum supply is capped at 210 million. Tokens will be released gradually into the market, mainly following the protocol’s hash power increase. At any given time, each circulating token’s intrinsic value is determined by BTC mined + BTC converted from Altcoins.
We are a fully doxxed team and have a legal entity in Delaware, US.
Light Paper: https://heliosfund.io/litepaper.pdf
Pitch deck: Pitch_Deck_defi versions.pdf - Google Drive
We are in the phase of fundraising. The proposal is reserving a seed round for Wonderland, so the community and/or the treasury will benefit from the long term revenue share in BTC.
Let us know what you think!