WHY THE MOFO GASY

This Sunday morning of December 2020, it was gray, the night had just given way to a heavy dawn. Sainte Marie, woke up sore from the passage of the cyclone Chalane. The hotel was barricaded to face this meteor and nothing was still moving at 5:30 am. From a small Gasy hotely rose a soft white smoke that from afar seemed to call for coffee. We had barely settled in when the charming cook offered us Mofo Gasy still burning, straight from the stove.

This memory was so comforting after this night of anxiety where you wait for the roof of your bungalow to fly away under the power of the wind.

A few weeks later, during exchanges with crypto-enthusiast friends on investment strategies, on a booming crypto market, the idea was born to create a token that could be used between the Malagasy population and the diaspora. We remained at the stage of this far-fetched idea. A few weeks later, after some investigations on the potential of such an idea;

More than 3 million cell phone and mobile money users with access to 3G_4G
A natural potential of the population to new technologies
A diaspora of nearly 140,000 individuals, mainly in France, who support their relatives in Madagascar
A telephone network and a connection quality among the highest in Africa
…

A round table discussion with the friends who said yes to put a ticket in the project and we seriously attack a rigorous study of the feasibility. Quickly, a lot of elements were ticked off in the preparatory checklist, until the name of the project came on the table. Was it necessary to be the financial professionals and to come up with a name out of the dictionary that nobody would understand? The general atmosphere was rather not to take too much head but rather to adapt a cutting edge technology in terms of finance (the Blockchains) to the common people.

We all thought about the Doge coin that was launched as a nose-thumbing to Bitcoin and that finally 10 years later weighed almost $30 billion. So you never know… And putting the project back into the Malagasy context, whose currency, the Malagasy Franc (FMG), then Ariary, is constantly devalued, we remembered the parody term used at the time to make fun of the FMG; the Franc Mofo Gasy. 

The challenge was launched: the Mofo Gasy was going to rise from its ashes in digital form. 

A few months later, while introducing the world of cryptos to a friend who knew nothing about it, I made him understand the huge future that these crypto-currencies like Bitcoin, Ethereum, Doge, BNB, and other behemoths, have. I saw in his eyes, the reflections of BTC, ETH, SOL, BNB … the Japanese candlestick charts, the terms PUMP, HOLD etc … Euphoric, until I pronounce; MGT (Mofogasy Token). He says, it’s immediately less serious. It is exactly what we want it to be. An everyday tool, known to all, which allows even the less fortunate to enter the world of decentralized finance. He is today among the founders. 

The Mofogasy token is not intended to make people millionaires. It should be a means of exchange and transfer in the field of cryptos accessible in a more or less near future, to holders of connections and a little financial means. Traders will be able to seize investment opportunities, surfing on the volatility of this kind of market. The more cautious will prefer to stall and collect returns on the long term rather than bet on a speculative and risky trading. But all investor profiles have one thing in common; being the masters of their digital financial choices. That’s what decentralized finance is all about!