An easy way to put it would be;
Pancakeswap + HEX + governance(DAO) = Mac&Cheese
Don't take it as a joke because of it's name. Pancakeswap, Sushi,... Food names work. Not to mention APPLE.
Basically it takes the frontend of pancakeswap for staking, but the backend is different. It works as a time deposit(CD).
In order to earn staking rewards, users must lock up their tokens. The longer you lock your tokens for, the higher rewards you receive.
A mistake that a lot of people make is they instantly label it as a ponzi/scam. But it's not, it offers no promise of return and the rewards are built into the system(through inflation). So the system can not collapse, but the price can(just like that of any other asset).
It's designed to work as an "DAO"(autonomous decentralized organisation). The locked-up stakers form the governing council - those with locked tokens can vote on proposals, which enables the protocol to evolve and upgrade in a decentralized manner.
The entire system is ran through users - the inflation(rewards) are set to be entirely dynamic, as well as bonuses, fees and events. The "Governor"(contract) collects fees and penalties and once a certain threshold is reached an event can be scheduled by users, during which the rewards are boosted for a period of time to attract new users. After event ends, penalties are burned and the global inflation of the system reduces( this is an alternative concept to bitcoin halvening where supply reduces in half every 4 years).
The goal is to let the users maintain the system and create an environment that prints the least inflation, but attract the most users. System also pays bonuses for extending and rolling-over expired time deposits. So basically removing potential sellers and attracting new users(perfect for price appreciation).
Similarly to how businesses provide additional services as they grow, the protocol can be upgraded and evolve to offer new services. The first and current service is the ability to stake & earn interest on your deposit. The system is made to work in the favor of the long term participants as it ensures honesty amongst participants (if you withdraw stake prior to expiration, you can get hit with up to 82% penalty. If people buy and lock the tokens - don't sell, the price should gravitate upwards over time).
90% of people are looking to capture the extreme upside of cryptocurrencies and earn staking interest at the same time. This is why the protocol could become incredibly valuable - because it provides the service people are looking for and value the most.
HEX is a cryptocurrency that has successfully integrated that concept(CDs) and it performed x10,000 in 1-2 years. This uses the same concept, but adds additional features(governance, dynamic rewards, upgradeability,...)
It's a good system because it covers the whole stack (is decentralized, integrates oracles in decentralized manner(system regulation), works as a currency and time deposit, has it's own consensus and governance model. Those are the things you would want in an ideal cryptocurrency and it's how decentralized finance should look like.
Bitcoin was a great idea, but it's not fulfilling any of it's initial promises labeled in it's whitepaper - it failed as a peer to peer cash and it's not a currency(is too volatile). And because nothing else works, it's been labeled a "store of value". And the same is happening on Ethereum right now - as fees are reaching 50$ for a similar transfer of token and hundreds of dollars for a swap. It's becoming unusable and is also reaching a "store of value" status.
Mac&Cheese is built on Polygon network which alrady processes twice the transaction of Ethereum on a daily basis at 1/1000 the cost. Polygon is also secured through proof of stake and doesn't burn additional energy. It provides the same infrastructure of ethereum(EVM) at higher scalability.
If you already hold ETH, BNB, MATIC, SUSHI, CAKE or HEX, then you can get some tokens for free. Users with 200M$+ worth of tokens have already claimed(95%+ of which are HEX stakers. Presumably because they are familiar with the concept and know it works).
Just a good idea to share IMO, but kep in mind that Mac&Cheese is not an investment, could fail and go to 0
Mac&Cheese ($XVMC) (macncheese.finance)
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