Welcome to the MetFi platform update report

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📘🎧 AUDIBLE➤ VIDEO: Welcome to the MetFi platform update report!

The update was necessary due to Paxos' announcement on February 13, 2023, where they would no longer provide full support for the stablecoin BUSD.

This update was planned for almost two months and extensive coding was carried out to ensure that all funds in MetFi remained safe and the transition to the new and improved platform was smooth, with added benefits.

Before implementation, Certik conducted a comprehensive audit and the code was optimized accordingly.

The first part of the transition was the implementation of the METFI token on April 3, when 500,000,000 new METFI tokens were minted.

Exchanges LBANK and Bitmart, where the old MFI token had been listed, requested a significant amount of money to execute the change to the new MFI token, so a new listing was agreed upon on the Mex exchange, ending agreements with both LBANK and Bitmart.

The platform update began on April 5 at 12:19 UTC, when MetFi's frontend platform services were shut down to protect Metfiers from making any transactions during the update.

At 12:30 UTC, the following smart contracts began to be implemented: burn controller, Staking Pool, reward converter, METFI Vault, Router version 3, Token Collector, Staking Manager version 3, Community manager payment controller.

In addition, new features were implemented, such as the new treasury, NFT transfer proxy, time lock (with veto over an action or decision), and platform branding.

The snapshot of the old token was taken at 12:43 UTC in block 27084200.

Regarding the distribution of METFI tokens, most were allocated to different PancakeSwap pools.

Overall, the platform and METFI token update was successfully carried out without major issues.

With the new platform and the new METFI token in place, MetFi is in an even stronger position to continue growing and improving its services in the decentralized finance space.

This successful update and migration demonstrate Metfi DAO's skills and dedication to providing a secure and reliable platform for its users.

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✅ All information about METFI: hmetfier.com/earning-with-metfi/