Review Monsoon Finance ($MCASH) – A fully decentralized protocol for private transactions

Monsoon Finance is a decentralized multi-chain privacy protocol bringing private transactions to every smart contracts blockchain. The number of people who are interested in learning about this cryptocurrency is ever-growing.

What is Monsoon Finance?

Monsoon Finance, a multi-chain privacy protocol, overcomes existing blockchain challenges by providing private transactions to any and every smart contracts blockchain. It aims to solve privacy issues with tools like a Multi-chain Privacy Bridge and a Multi-chain Privacy DEX.

Monsoon Finance will restore the fundamental right to privacy and anonymity. This is possible with the help of Monsoon cash, a fork of Tornado cash that will provide privacy features. It has already started with Binance Smart Chain and is planning to start with Polygon soon.

Outstanding Features

What is the project trying to achieve?

The problem

The majority of today’s blockchains are plagued by a single issue: Privacy. While the identities of users are preserved, the financial history is not. When cryptocurrencies are inevitably used as forms of payment for everyday goods and services, privacy is paramount, otherwise, anybody may readily discover the net worth of a platform’s users. Furthermore, the primary aim of self-sufficiency cannot be realized without privacy. Hence there are a few issues with existing blockchains regarding privacy.

Exposed Finance Records

Existing public blockchains have a significant privacy issue. By default, these blockchains share the exact details of all transactions including users’ wallet balances in plain view. Although the details of the transaction do not contain user identity, the availability of the wallet address and transaction history to anyone on the internet is still a legitimate privacy concern for most.

Anyone with a particular user’s wallet address may simply examine their address on block explorers like BSCScan, Etherscan, and Polygonscan and evaluate their transaction history and holdings. This can have serious repercussions for crypto users as it makes private financial information public.

Lack of Multi-Chain Privacy

Existing blockchains have a large user base but fail to provide valuable services such as a multi-chain privacy bridge. This problem is more concerned with the flexibility provided to users and their overall experience with the platform. Hence most blockchains fail to understand the needs of the users and are bound to fail in the long term.

Lack of Privacy on Cross-Chain DEXs

Most of the existing decentralized exchanges (DEXs) provide a plethora of features like removing third parties, offering unparalleled security, and so on, but fail to provide guaranteed privacy features. The swapping of assets between chains is made possible with existing DEXs but measures on privacy are ignored most of the time.

The solution

Monsoon Finance brings in sophisticated solutions to enable privacy on every smart contract that supports it. Monsoon breaks the on-chain link between source and destination addresses to improve transaction privacy. Its smart contract accepts network token deposits that can be withdrawn by a different address.

Monsoon Finance constitutes a unique process that uses a relayer to transfer deposits to a zero balance address to preserve privacy. This way, whenever tokens are withdrawn by the new address, it becomes impossible to link the withdrawal to the deposit, ensuring complete privacy.

How Monsoon works

Monsoon Finance is an open-source code that is available for everyone. The founders themselves emphasize the transparency between the platform provider and the users who are using this system.

There are several steps you need to go through to get started with using Monsoon Finance. Here is how Monsoon Finance works:

  • Deposit – First, you are going to deposit your funds into the Monsoon contract. You can deposit cryptocurrency into the contract in increments of 0.1, 1, 10, etc. The platform will give you flexibility on how many deposits you want to make.
  • Wait for a few hours – After your deposit, you are required to wait for a few hours before you can make more deposits to the Monsoon contract. This system is specially created to help you preserve privacy on the platform.
  • Withdraw your funds – It is quite easy for you to withdraw your funds from the Monsoon platform. You will provide zero-knowledge proof of what you use for depositing funds to the Monsoon contract.

what is the unique selling point?

Governance

Monsoon is completely decentralized, controlled, and governed by its community. By acquiring MCASH tokens, you can participate by voting on governance proposals and weighing in on the evolution of the protocol.

Anonymity Mining 

When the token is publicly available, you can also mine MCASH. This is the governance token from Monsoon Finance. The more you use it, the more you will get into the evolution of the protocol. This system is specially created to offer a secure and private platform for all users of the platform.

Multi-ChainPrivacy Bridge

Users will be able to deposit assets on one chain, and privately withdraw those assets on any other supported chain. The bridge contracts require Monsoon validators to come to a consensus about deposits that happened on supported blockchains in a decentralized manner. Validators will run a PoS Substrate-based chain.

A safe platform for everyone 

Monsoon Finance will never collect any user data. You are allowed to host your own frontend once the frontend is finalized as well as open-source. The high security in place is one of the main selling points of Mansoon Finance.

Cross-chain protocol 

This is another benefit that you will get from Monsoon. You will be able to deposit assets on one chain. Then, you can withdraw those assets from the other chains privately. Additionally, through Monsoon’s Discovery Network, you are allowed to deposit an asset on one chain and swap it for the other assets fairly easily. 

Monsoon Finance works together with Tornado Cash 

It is an audited privacy protocol for Ethereum. This platform is also using the same verification keys as Ethereum, thus, it inherits the same security level as Tornado Cash. This audit will ensure the safety of the Monsoon platform.

Currently, Monsoon Finance is deployed to the Binance Smart Chain Mainnet, Moonbeam Testnet, Matic Network, and Polygon Testnet, among others. They are planning to support the other public blockchains in the future, including Avalanche, Fantom, and Rootstock.

Roadmap 

Updating…

Technical Data

Key metrics 

$MCASH will be the medium of exchange and used as a primary mode of payment on the Monsoon Protocol.

  • Token NameMonsoon Finance
  • Ticker: MCASH
  • Blockchain: BSC
  • Token Standard: ERC-20
  • Contract: 0xa25610a77077390a75ad9072a084c5fbc7d43a0d
  • Token type: Utility
  • Total Supply: 100.000.000
  • Circulating Supply: MCASH 2.227.500

Token allocation

Token release schedule

Token use case

MCASH is the utility token of Monsoon Finance and a fork of Tornado Cash for Polygon and BSC. 

  • By acquiring MCASH tokens, users can participate in protocol governance and weigh in on its modifications. 
  • In addition, all fees generated by the protocol are used to buy back and burn MCASH tokens. 
  • Once $MCASH is publicly available, users can easily mine it on Monsoon maintaining their anonymity. The more you use it, the more say you have in the evolution of the protocol.
  • MCASH will be used for staking and liquidity pools in the ecosystem. 

Token sale

Ticker: $MCASH

Total Supply: 100M

MCASH Price (USD) Public Sale: $0.20

Initial Market Cap: $445,500

More information at: CLICK HERE

How to own the token?

Buy MCASH token at IDO on Polystarter & BullPerks on 27th September

Markets and Community

Community

Monsoon Finance has crossed the mark of 186,000 Followers on Twitter

Backers

Team/ Founders

Updating….

Advisors

Partners

Verdict

Monsoon Finance is a decentralized multi-chain privacy protocol bringing private transactions to every smart contracts blockchain. On Monsoon, users get a privacy bridge, multi-chain private DEX, anonymity mining, trusted setup ceremony, and more. Monsoon is the first to bring privacy to BSC & aims to be the first for other blockchains like Polkadot, Polygon, & Fantom.

Find more information about Monsoon Finance:

Website: https://monsoon.finance/

Whitepaper: https://monsoon.finance/Monsoon%20Whitepaper.pdf

Twitter: https://twitter.com/MonsoonFi

Telegram: https://t.me/monsoonfinance

If you have any questions, comments, suggestions, or ideas about the project, please email [email protected].

DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.

Elise

Coincu Ventures

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