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MFChain (MFX) ICO Review – ICO Token News


Modern Finance Chain allows consumers to purchase goods and services from merchants creating a cost-effective cryptocurrency payment ecosystem that rewards the consumer as well as the merchant. We are creating a sustainable cryptocurrency payment system that consistently adds value for merchants and consumers, thus counteracting the payment system problems associated with traditional merchant-consumer payment transaction protocols.

Merchant Reward System

Merchants are rewarded a 1% rebate of their total cryptocurrency volume in the form of MFX Tokens. MFX Tokens are valued based on $1 per token or their current exchange rate, whichever is greater, at the time of settlement. Each month merchant statements are evaluated from the previous month’s processing. Statement evaluation closes on the last day of each month. Rewards payments are settled on the 7th day of each month.
To illustrate, a retail merchant conducts $1M worth of cryptocurrency payments through MF Chain payment solutions from Jan 1 to Jan 31. On Feb 7 the merchant is rewarded 5,000 MFX Tokens directly to the merchant’s digital wallet. These tokens can be collected as a corporate asset or exchanged for USD on the open market.
Merchant controlled settings allow for either keeping the cryptocurrency they’ve received as payment or immediately exchanges it for fiat currency settlement which is delivered to their bank account the next day. Merchants have complete control over their funds without the risk of chargebacks or reserves.

MFX Reward Pool

The MF Chain reward pool consists of 75M MFX Tokens and the rebate programs will continue for an additional 5 or more years. Additional reward pools will be added to the program as partnerships with other projects develop. For example, a promising blockchain project can request to add a token allocation to the rewards pool, thereby instantly injecting their token into real commerce transactions. This will allow merchants and consumers to receive multiple reward tokens for a single transaction. Partnerships will likely extend the program in perpetuity.
With the launch of MF Mainnet, the MFF token will take the place of the MFX token within the rewards programs, allowing merchants and consumers to receive transaction fuel for MFM.

Consumer Reward System

In addition to providing the valuable service offering of being able to spend their cryptocurrency at their favorite merchants, consumers are rewarded in several ways. The cryptocurrency payment option includes a surcharge to cover merchant exchange fees. However, when paying with MFX Tokens the surcharge is waived. The merchant surcharge is set by the merchant at 0.5 to 3%. The surcharge is paid to the merchant through MFX Tokens. When a consumer spends MFX Tokens at a merchant using MF Chain processing solutions, the consumer will receive a 1% rebate automatically paid to their wallet. Rebate payments are made once monthly.

MF Chain Business Model

Building a public smart contract platform with merchant payment integration creates a complete and robust commerce which has a reciprocating effect across all channels involved. DApps launching on the MF Chain instantly benefits from the acceptance of their tokens at thousands of merchants worldwide. As the digital economy grows, so does the value of MF Chain.MF Chain will integrate with merchants in 2018 by partnering with payment processors that are already doing business with a minimum of 10,000 merchants. Payment processors will be engaged with an incentivized partnership agreement that brings an exciting new service to their merchant product offerings. MF Chain benefits by becoming instantly integrated into a conventional stream of commerce. This unique approach ensures adoption of the MF Chain payment solution and paves a clear path for future projects launching on the MF Mainnet.

Projects approved for the Modern Finance Chain Innovation Incubator are supported by MF Chain on multiple strategic fronts: Access to the pre-built and audited smart contract library, an ICO launch platform that is multi-currency capable and development & marketing support. MF Chain will directly benefit from equity ownership in these projects.

MF CHAIN ICO Information

General Info

Modern Finance Chain (MF Chain) plans to raise between 2,500 and 33,000 ETH Tokens during the Pre-ICO and ICO. All ICO transactions are completed via smart contract transfer. Only whitelisted participants will have the ability to contribute during the ICO. Any contributions sent from addresses not on the whitelist will be rejected by the ICO smart contract.

MF Chain will only have access to 50% of the funds collected during the first half of 2018. These funds will be used for development, operations and marketing. Unspent funds will be unlocked in two stages. The first stage will unlock after the full release of the merchant processing platform. The second stage will unlock after the full release of MF Mainnet.

Whitelist and KYC

To participate in the MF Chain ICO, prospective platform users will need to be approved and added to the whitelist. MF Chain plans to run two separate whitelist campaigns allowing users late to learning about MF Chain to participate. All prospective participants can apply during any whitelist stage (example: participant wanting to contribute during ICO stage can apply during the first whitelist stage; this example is encouraged).
Depending on level of interest, the second whitelist stage may end early. All members will be processed through MF Chain’s KYC requirements. MF Chain has partnered with Identity Mind and will be reviewing all submitted information on OFAC, PEP, PSFI, EU and Freeze Lists. Depending on level of contribution, government-issued ID submission may be required. MF Chain complies with all local restrictions and limitations; therefore, residents of certain countries will not be able to participate. ICO stats provide more information about current ICOs.

MF Chain ICO Dates

  • Pre-Sale: May 5th – June 15th
  • Public Sale: June 25th – July 25th
  • Soft Cap: 2,500 ETH (with built in smart contract refund feature if not obtained)
  • Hard Cap: 33,000 ETH


  • Viacheslav Shybaiev
    Viacheslav Shybaiev
    Viacheslav Shybaiev
    Blockchain Lead - In addition to Viacheslav’s Master’s level degrees in Computer Science, Business Management, and Business Administration, he has over 20 years of experience in designing, developing, and supporting international enterprise IT initiatives and mobile solutions. Viacheslav’s is focused on creating business value through systemic process improvements via direct collaboration with developers, operations, marketing, and sales. Additional areas of his expertise include blockchain development, product management, big data, and software development.
  • Benamara Oualid, PhD
    Benamara Oualid, PhD
    Benamara Oualid, PhD
    PhD in Mathematics with expertise ranging from algorithms and complexity theory to Matlab and cryptography. Benamara has worked on cryptanalysis projects which led him to developing advanced algorithms for cryptography and security.
  • Piers Lawrence, PhD
    Piers Lawrence, PhD
    Piers Lawrence, PhD
    Applied Mathematician
    Dr. Piers holds a PhD in Applied Mathematics where, during his Postdoctoral research, he focused on developing the linearization of matrix polynomials. As such Dr. Piers has made several breakthrough discoveries that significantly generalize and simplify a stability analysis. Furthermore, he has developed methods for the stable computation of the roots of polynomial equations expressed in Hermite and Lagrange bases, as well as for barycentric rational interpolation.
  • Kat Campise, PhD
    Kat Campise, PhD
    Kat Campise, PhD
    Data Scientist
    Kat is a full-time data scientist and technical writer whose academic degrees incorporate a multitude of disciplines including computer science, journalism, and learning science. Her professional experience is equally diverse and encompasses the worlds of education, fintech, machine learning/AI, and psychology. Her doctoral research led her to an invitation by Carnegie Mellon to help construct and test cognitive tutors which further intensified her interest in the field of machine learning and AI. She has written white papers, blogs, and articles for hundreds of clients ranging from small tech start ups to large, well-known industry leaders.
  • Jack Lloyd
    Jack Lloyd
    Jack Lloyd
    Crypto & Security Expert
    A developer specializing in designing and building cryptographic software and other systems where correctness and performance are essential. I also am proficient at reviewing code to find security flaws. Extensive experience developing in C++ (preferring C++11/C++14), C and Python. I also enjoy working in Go, Rust, OpenCL, CUDA, C#, and OCaml.
  • Nick Ivanov
    Nick Ivanov
    Nick Ivanov
    Python & Crypto Dev
    Blockchain development, Smart contract writing, coding, Expert in the fields of blockchain, information technology, machine learning, Ethereum, Bitcoin, big data, information security, and simple programming.
  • Serhiy Movchan
    Serhiy Movchan
    Serhiy Movchan
    Web UI/UX Designer
    Serhiy has a passion for web design and loves to create web and mobile devices user interfaces and user experiences.
  • Sergio Andronik
    Sergio Andronik
    Sergio Andronik
    Project Manager
    Agile project management expert with an approach to ensure precise, on-target project delivery. Passionate about new challenges. Detail oriented and excellent leadership ability within projects and teams. Holds over 15 certifications and licenses for project management, Agile software development, leadership and time management.
  • Sofia Shybaieva
    Sofia Shybaieva
    Sofia Shybaieva
    Software QA
    Software quality assurance manager with coding skills in Python & Java. Expert in Jira, Confluence, Eclipse, Intellij Idea, teamwork with Git.
  • Bogdan Fiedur
    Bogdan Fiedur
    Bogdan Fiedur
    Advisor - Blockchain Expert
    Bogdan Fiedur is a full stack developer, smart contract developer, crypto-investor, entrepreneur and President of He has over 20 years of IT experience in building e-commerce websites and has been involved in blockchain development during last 3 years.

    He is also an ICO advisor working with 10+ successful ICOs to date and deeply involved in offering presentation and workshops on blockchain and smart contrat programming in his local crypto community of Winnipeg.

    Bogdan now focuses on the Blockchain industry and offers advice, consulting services and connections to Blockchain experts. Most recently Bogdan has cofounded ‘Bitjob’, a freelancer blockchain platform for studens and participated in several ICO projects as a team member.

    Through these projects Bogdan acquired intimate knowledge with inner-workings of ICO development from conception to execution.


  • 1
    Q4 2017
    Concept & Discovery.
    MFC founded.
    R&D blockchain options.
    Cryptocurrency market research.
    Fiat payment market research.
    Business plan created.
    Team recruiting commences.
  • 2
    Jan 2018
    Initial Business Rollout.
    Smart contract development commences.
    Whitepaper first draft.
    MVP Ui/Ux developed.
    Wire frames built out and approved.
    Consumer crypto payment solution MVP development begins.
    Merchant backend console development begins.
    Marketing plan developed.
  • 3
    Feb 2018
    Development Stage.
    Team build out.
    Full development team working on multiple sprints.
    Market research.
    Consumer & Merchant focus groups.
    Consumer & Merchant surveys.
    Website development.
    Whitepaper draft.
  • 4
    March 2018
    Private Offer.
    White paper released.
    Website launch.
    Private sale opens.
    Crypto community surveys.
    Crypto community focus groups.
    Marketing campaign kick off.
  • 5
    April 2018
    Pre ICO.
    Pre ICO opens.
    BTC, ETH, MFC payments integration.
    MVP Release.
    Alpha software release.
    Beta testing merchants.
    Beta testing consumers.
  • 6
    May 2018
    Initial Coin Offering.
    Public Sale.
    Live Token Generation Event.
  • 7
    June 2018
    Payment Systems.
    Payment system integration.
    Sales process developed.
    Sales team building.
    Merchant processing roll out
  • 8
    July 2018
    Live on exchange.
  • 9
    Q3 2018
    250 Merchants processing with MFC.
    Magento Cart Plugin.
    Zen Cart Plugin.
    WordPress Plugin.
    WooCommerce Plugin.
    Big Commerce Integration.
  • 10
    Q4 2018
    1000 Merchants processing with MFC.
    MFC stand alone POS hardware release.
  • 11
    Q1 2019
    Global payment system roll out.
    5000 Merchants processing with MFC.
    MFM Testnet deployed.
  • 12
    Q2 2019
    MF Mainnet deployed.
    MFM coin swap (MFX token is swapped for MFM coin at 1:1 ratio).
    MFF token is issued (MFF will work as an independent payment token on the MFM Blockchain).
    MFF airdrop.

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