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.
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.
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.
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.
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.
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.
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:
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.
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.
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.
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.
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.
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.
Updating…
$MCASH will be the medium of exchange and used as a primary mode of payment on the Monsoon Protocol.
MCASH is the utility token of Monsoon Finance and a fork of Tornado Cash for Polygon and BSC.
Ticker: $MCASH
Total Supply: 100M
MCASH Price (USD) Public Sale: $0.20
Initial Market Cap: $445,500
More information at: CLICK HERE
Buy MCASH token at IDO on Polystarter & BullPerks on 27th September
Monsoon Finance has crossed the mark of 186,000 Followers on Twitter
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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 ventures@coincu.com.
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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