Mrweb Finance (old): DeFi Simplified: MrWeb Finance

What is Mrweb Finance (old)

Friends, imagine when we use mobile payments or swipe bank cards—these all happen within the traditional financial system. In the blockchain world, there are also many similar financial services, which we call “decentralized finance,” or DeFi for short. Mrweb Finance (old) (token symbol AMA) is an early project that tried to build a bridge in this DeFi world.

You can think of it as a combination of a “digital wallet + payment gateway.” Its initial goal was to make it simpler and safer for everyone to use cryptocurrencies for various financial activities, such as lending, earning yields (like depositing money in a bank to earn interest, but operating on the blockchain), and even using crypto to pay for daily expenses. It acts as a connector, hoping to link the familiar payment methods of the real world with the emerging world of cryptocurrencies, so that crypto is not just an investment asset but also a convenient payment tool for everyday life.

This project was originally built on the Ethereum blockchain, and later migrated to Tron and Binance Smart Chain (Binance Chain, BSC for short). Simply put, a blockchain is like a public, transparent ledger, and Ethereum, Tron, and BSC are different ledger systems. Mrweb Finance (old) switched the ledger system it relied on during this process.

Project Vision and Value Proposition

The vision of Mrweb Finance (old), in plain language, is to make DeFi simpler so that everyone can easily participate. The core problem it hopes to solve is how to make cryptocurrency not just about “speculation,” but truly integrate into our daily lives as a practical payment method. Just as we now use WeChat Pay or Alipay with ease, Mrweb Finance (old) also envisioned launching a special application that could convert digital currency into one-time smart e-cards for online payments, and even issue physical plastic cards to increase the real-world use cases for crypto.

At the time, many DeFi projects focused more on complex financial instruments, while Mrweb Finance (old) emphasized “simplification” and “practicality,” attempting to attract a broader user base through payment integration and ease of use.

Technical Features

The technical foundation of Mrweb Finance (old) is smart contracts. You can think of smart contracts as “digital agreements” that automatically execute on the blockchain—once conditions are met, the program runs automatically without third-party intervention. The project initially leveraged Ethereum’s smart contract capabilities and later expanded to Tron and Binance Smart Chain.

In terms of security, Mrweb Finance (old) adopted multiple measures, like putting several layers of “bulletproof vests” on your digital assets. These include:

• Cold wallet storage: Like storing most cash in a bank vault instead of carrying it around, cold wallets keep most digital assets offline, greatly reducing the risk of hacking.
• Comprehensive audits: Like strict quality checks before a product leaves the factory, the project’s code is audited by third-party professionals to identify potential security vulnerabilities.
• Robust encryption technology: Like putting complex passwords on your information, ensuring the security of data transmission and storage.
• Strict exchange security protocols: When cooperating with exchanges, strict security standards are followed to protect user assets.

It’s worth noting that Mrweb Finance (old) underwent a major smart contract migration in July 2022, which can be understood as an upgrade and optimization of its underlying technology. This upgrade not only adjusted the total token supply but also removed the “minting” function that may have existed in the old contract, further enhancing the project’s transparency and security.

Tokenomics

The token of Mrweb Finance (old) is AMA.

Basic Token Information

• Token symbol: AMA
• Issuing chain: Initially on Ethereum, later migrated to Tron and Binance Smart Chain (BEP20).
• Total supply and issuance mechanism:
  • Before the smart contract migration (from v1 to v2) in July 2022, the old contract’s total supply was 50 billion AMA.
  • After migration, the new contract’s total supply was drastically reduced to about 100 million AMA (specifically 99,989,737), and the function allowing the project team to mint new tokens was removed from the old contract. The migration exchange ratio was 500:1, meaning 500 old AMA could be exchanged for 1 new AMA.
• Current and future circulation:
  • The circulating supply of the old contract was reported as about 999 million (19.99% of total) or 30 million.
  • The circulating supply of the new contract is about 72.08 million AMA, accounting for 72.09% of the total supply.

Token Utility

The AMA token plays multiple roles in the Mrweb Finance (old) ecosystem, like a multi-functional Swiss Army knife:

• Payment tool: Can be used for payments in various DeFi applications within the platform ecosystem.
• Staking: Users can lock AMA tokens in the network to participate in staking and earn rewards. This is like putting money into a special “digital savings account”—not only earning interest but also helping maintain the network’s security and stability. For example, in May 2021, the project offered options for 30-day staking with 7% annualized yield, 60-day staking with 17% annualized yield, and 90-day staking with 36% annualized yield.
• Governance: Users holding AMA tokens may have the right to participate in decisions about the project’s future development, just like shareholders voting on major company matters.
• Access to exclusive NFTs: May be used to obtain exclusive non-fungible tokens (NFTs) on the platform. NFTs can be understood as digital collectibles or digital asset certificates on the blockchain.

Token Distribution and Unlock Information

The whitepaper mentions that AMA token distribution is mainly through staking and mining rewards to encourage broad adoption. As for specific detailed allocation ratios and unlock schedules, no very detailed public data was found in the available information, but the whitepaper update in July 2022 stated that “AMA token distribution and unlock schedule have been updated.”

Team, Governance, and Funding

Regarding the core team members of Mrweb Finance (old), public information does not list specific names and backgrounds in detail. However, in May 2021, the project stated that the website had been updated and team member information added.

In terms of governance, AMA token holders are given the right to participate in governance decisions, meaning community members have the opportunity to propose suggestions and vote on the project’s development direction. However, the specific governance mechanism (such as on-chain voting or other forms) is not detailed.

As for the project’s financial status and operating funds (runway), no specific financial reports or treasury information were found in public sources. The project’s market cap and trading volume are relatively low, which may indicate limited funding and operational capacity.

Roadmap

The roadmap of Mrweb Finance (old) shows some key milestones from launch to future plans:

Historical Key Milestones and Events:

• May 2021: Staking platform launched, users could stake AMA tokens to earn yields.
• August 2021: Mrweb trading bot launched.
• July 2022: Major smart contract migration (from v1 to v2). This migration reduced the total token supply from 50 billion to about 100 million and removed the minting function from the old contract.
• January 2024: Announced AMA Ethereum-related updates.

Future Key Plans and Milestones (some mentioned in the old whitepaper):

• Develop decentralized exchange (DEX) and mining platform.
• Launch lending platform.
• Develop cross-chain bridge to enable token interoperability between different blockchains.
• Integrate AMA plastic debit card/virtual debit card to further enable real-world crypto payments.

It should be noted that the whitepaper also clearly states that the development and launch of all these plans cannot be guaranteed, as relevant legal permissions and approvals may be required.

Common Risk Reminders

Investing in any cryptocurrency project comes with risks, and Mrweb Finance (old) is no exception. Here are some common risks to be aware of:

• Technical and security risks: Although the project has taken security measures, blockchain projects may still face smart contract vulnerabilities, hacking, and other risks. The complexity of smart contracts may lead to undiscovered errors, resulting in asset loss.
• Economic risks:
  • Market volatility: The cryptocurrency market is highly volatile, and the price of AMA tokens may be affected by market sentiment, macroeconomic factors, and the project’s own development, with the possibility of significant declines.
  • Liquidity risk: Mrweb Finance (old) has relatively low market cap and trading volume, meaning it may be difficult to find counterparties when buying or selling AMA tokens, or trading prices may be heavily impacted.
  • Project development uncertainty: The plans in the roadmap may not be realized on time or in full. The project’s success depends on the team’s execution, market acceptance, and competitive environment.
  • Token value support: The long-term value of the token depends on its actual application and demand within the ecosystem. If the project fails to realize its vision, the token’s value may be impaired.
• Compliance and operational risks:
  • Regulatory uncertainty: Global regulatory policies for cryptocurrencies are still evolving, and future regulatory changes may negatively impact project operations and token value. The whitepaper also clearly states that the project must comply with relevant laws and regulations and may need to obtain necessary licenses and approvals.
  • “Old” project status: Given the “(old)” in the project name and the existence of contract migration, this may mean the old version is no longer active or maintained, or its focus has shifted to the new version. Investors need to carefully distinguish and understand which version they are actually investing in.

Please remember, the above information is for reference only and does not constitute any investment advice. Be sure to conduct thorough independent research and risk assessment before making any investment decisions.

Verification Checklist

For any blockchain project, here are some key pieces of information you can research and verify yourself:

• Block explorer contract address: Find the AMA token contract address on Binance Smart Chain (BEP20), and use a block explorer (such as BscScan) to check token holder distribution, transaction records, and total supply.
• GitHub activity: If the project has a public GitHub code repository, check its code update frequency, number of contributors, and issue resolution status—this reflects development activity.
• Official website and whitepaper: Carefully read the project’s official website and latest whitepaper to understand its latest progress, technical details, and future plans.
• Community activity: Follow the project’s social media (such as Medium, Telegram, Twitter, etc.) to gauge community discussion, and team-community interaction.
• Audit reports: Check whether the project has undergone third-party security audits and read the audit reports to understand its security status.

Project Summary

Mrweb Finance (old) (AMA) is an early blockchain project aimed at simplifying decentralized finance (DeFi) and connecting it to real-world payments. It was initially launched on Ethereum, later migrated to Tron and Binance Smart Chain, and underwent a smart contract upgrade that drastically reduced the token supply from 50 billion to about 100 million and removed the minting function to strengthen its tokenomics.

The AMA token plays multiple roles in the ecosystem, including payment, staking, governance, and access to NFTs, and the project once offered attractive staking yields. Its vision is to make cryptocurrency not just an investment asset but also a convenient payment tool for daily life, with plans for a decentralized exchange, lending platform, and physical/virtual debit cards.

However, as an “old” version project, Mrweb Finance (old) currently has very low market cap and trading volume, indicating limited market attention and liquidity. Any investment comes with multiple risks—technical, economic, and compliance—especially for small-cap, long-standing projects, whose future development and success are highly uncertain.

Therefore, before considering any action related to Mrweb Finance (old), it is strongly recommended that you conduct thorough independent research and fully understand all potential risks. This is not investment advice.