Announcing the MMF Money platform
Dear MADfam, it has been a rollercoaster of emotions for the past couple of weeks since our last medium article, where MMF ecosystem assets have done a huge tango on the price chart, shaking out some of the non-believers. But for the MAD fanatics that most of you here are, you held on, and we appreciate you for that. This is also why our team constantly strives to build new tools, new platforms, and new opportunities for all of you who believe.
MM Finance is not simply just a brand/project, we are a movement — one made of rebels that seek for continuous improvement, the status quo is not enough for us. It is with this philosophy that our team toils to build new value, and still seek for your continued trust that we will continue to do so. After weeks of conceptualisation and building, we are now ready to unveil our MMF Money platform; A hybrid CDP and fractionalised-algorithmic stablecoin platform — A first of its kind!
Hybrid CDP and fractionalised-algorithmic stablecoin: Wut?
As the name implies, our team has taken the best aspects of a CDP, alongside the best aspects of a fractionalised-algorithmic stablecoin to synergistically combine it into a stablecoin that has multiple stabillising mechanisms to maintain peg, while allowing the MUSD token to be capital efficient. The $MUSD token is fully supported by the entire MM Finance engine that currently consists of:
- A leading AMM/DEX
- Yield-Optimiser platform for better auto-compounded yields,
- An in-house stableswap
- A soon-to-launch CDP platform
- Fractional algorithmic backing of MUSD token thru $MMF and $USDC. This is unlike any other stablecoins that does not have the power of a full ecosystem that backs the stable token. The entire MM Finance ecosystem constantly generates huge revenues that is able to constantly be used to increase backing for MUSD, while also increasing utility for the MUSD token.
The ultimate gameplan for the MUSD token is to allow it to be fractionally backed by both USDC as well as MMF tokens, in some similarity to how UST and LUNA works hand in hand to create a positive flywheel. This will heavily push up the value of $MMF token (which is the speculative aspect of the ecosystem), while heavily pushing up the market cap of the $MUSD stablecoin token. Higher market cap equates higher adoption, equates higher earning fees for all MM Finance ecosystem assets.
The fact that MUSD has a full ecosystem backing it right off the bat is a huge signal to its potential future success. We foresee the day where the MUSD token will eventually be one of the top stablecoins given how the stablecoin provides a strong flywheel effect for the entire MM Ecosystem, thus eventually resulting in higher adoption of the stablecoin itself.
MMF Money platform
Today, we announce the launch of the first phase of our MMF Money platform. Our team has integrated Tectonic money market such that users can provide interest bearing tokens (ibTokens) from Tectonic in order to loan $MUSD (that is self repaying). We will be integrating Mimas and Annex as well. These $MUSD tokens can eventually be used to swap for other tokens on either our stableswap, or on our DEX. Over time, our team will be adding 2 things in this first phase of our development:
- More money markets
- Ability to perform leveraged yield farming — an example would be to use leverage your tUSDC receipt token to perform a 10x leverage on capital to get a high APY on money markets.
In the 2nd phase of our development, the team will work on building up the fractionalised-algorithmic aspect of the MUSD token. This will allow users to provide both USDC and MMF tokens to mint more MUSD tokens. When the demand for MUSD tokens are high, the algorithm will lower the collateral threshold to take less USDC, and take more MMF tokens as backing. All these will be performed dynamically so as to allow MUSD supply and price to self regulate.
At the same time, because our CDP platform also exists, it will create a unique dynamic where both platform provides supply and demand for the MUSD token to help it maintain peg. With the introduction of this 2nd phase, our team anticipates the demand for $MMF tokens to pick up seeing as plenty of $MMF tokens will be locked out of circulation, while allowing users to gain a stablecoin that has huge earnings potential.
How does the introduction of $MUSD benefit MM Finance and its tokens?
We highly recommend you to read our MMF Money platform docs that will touch on the different details that showcase how MUSD helps to create new revenue streams that are returned to holders of our native tokens. But let us describe a few:
- MMF Money CDP aspect earns fees for loaning out MUSD tokens, these fees will be redistributed back to $BURROW holders
- Stableswap platform generates huge speculation and trading fees from all our new products, hence more fees going towards liquidity providers and POL for $METF
- Algorithmic Market Operations (AMOs) will be deployed. These AMOs are advanced yield generating strategies that are deployed by the treasury to grow revenue for $BURROW holders. Currently, there are 4 AMOs planned, where we anticipate close to 50k daily revenue from these AMOs to be redistributed back to $BURROW holders (after all platform aspects are up and running).
- There will be $BURROW buybacks and burns (BBB) implemented to increase scarcity of the $BURROW token. With multiple income streams, we are certain that $BURROW token will steadily increase in value over time
Due to the way the team will pair the liquidity of the $BURROW token (BURROW-MMF), any buys on this token will result in a subsequent buy on $MMF as well, thus pushing the prices of both tokens up. Our team has spent huge amounts of time conceptualising the set of strong tokenomics above that will guarantee the strength of the $BURROW token. With a strong $BURROW token, we anticipate huge buys on $MMF as well, which thus creates the positive flywheel we have described in earlier paragraphs.
What is $BURROW token, and why hold it?
In short, the $BURROW token will be a governance token for the MMF Money platform, and it has a limited supply. This $BURROW token will be distributed in launchpad, as well as to be distributed to believers of the MMF Money platform as yield farming incentives in the beginning. Platform fees and revenues earnt from AMOs are distributed back to $BURROW holders, and this can come in the form of buybacks and burns, or even in $MUSD revenues being distributed to stakers. Our team will follow up this article with full details on the $BURROW token, and an official launchpad announcement to drop soon! Meanwhile, do enjoy using the MMF Money platform, and staking your $MUSD for awesome yields.
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Website: http://mm.finance/
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