The next frontier of madness 🔥
Hi Burrow, our team has been hard at work over the past couple of months strategising and building in the bear market. The past couple of months have been brutal, doling out many humbling lessons to companies, hedge funds and even DeFi teams alike; the great deleveraging event that ensued punished the greedy ones, leaving even the most prudent of us all bruised.
Despite the doom and gloom, our MM team prevailed above it all through careful risk management - this prudence allowed us to continue building despite the downturn.
Now with "The Merge" in sights, we are starting to see an Ethereum-led crypto rally. Just as our team places the finishing touches on our cross-chain development efforts, we are experiencing great tailwind from this exciting macro market environment. With this impeccable timing, we seek to launch a cross-chain deployment in the coming week.
Why launch cross-chain?
The goal of MM had always been about being number 1, to gain recognition as a serious team with lofty goals. We wish to translate these goals of ours into benefits for our loyal believers.
- Going cross-chain cements our resolve and reputation as a project that seeks to build the infrastructure for the next generation of DeFi apps. This translates into greater exposure for the entire project; the DeFi aspects, the NFT aspects, the GameFi aspects.
- With an expanded scope of work, our team will be able to more efficiently allocate our resources internally to hit maximal efficiency. This is important for us to increase the sustainability of what we do.
- More revenue streams will help to bolster the different aspects of many of our existing projects. For e.g. our MUSD product had always been planned to be a cross-chain stablecoin. With greater issuance/demand, there will be more benefits for holders of BURROW.
- Our roots as the MMB — our humble beginnings started from our time in Ethereum Mainnet, from which we made our entry into the Cronos chain, taking the chain by storm. Today, we believe the time is ripe for us to make our next move.
The how?
Over the next few days, our team will be releasing more information. But in the mean-time, here are the confirmed details:
- Our team will be creating a new MMF token (on Polygon). This will not dilute the existing MMF marketcap because it will be a new token that operates on its own. This token and the initiatives surrounding it will be ported over to Polygon. If you have observed how we have sprung to number 1 on Cronos chain as the top DEX, we seek to employ a similar playbook (but of course with the lessons we have learnt, we will seek to avoid potential issues).
- Our team will seek to help serious projects on Cronos to also create their presence on Polygon. This will manifest in the form of launchpads for projects that we have deemed to have made a positive impact on DeFi in Cronos. All these will translate to strong utility for the MMF (Polygon) token from the get-go, as it will be used for launchpads. If you are a project looking to expand beyond Cronos, feel free to reach out to us!
- More in-depth details regarding tokenomics will be discussed on our Gitbook soon.
In the mean-time, our team is expeditiously preparing the final touches. The exact date of launch and launchpad will be made known shortly.
How do you benefit?
We believe in rewarding our loyal holders. You as part of our MM community that believes in us and what we do is absolutely important. This is also why our team will be pioneering a new method of token distribution to the community.
Under our tokenomics, we are to distribute 85% of MMF (polygon) to the community as part of liquidity incentives etc. 8% of the tokens will be vested over a period of time for development/marketing costs. 1% will be used to form liquidity. The other 1% will be used for launchpad which we will be using 100% of it to form liquidity for MMF (polygon).
5% of the entire supply (30 million MMF tokens worth $6 million USD) will be issued out to our MM Ecosystem (Cronos) users aka our MMF/METF/SVN/HKN token holders as dividends with more details to be announced. We have plans for each of the other tokens as well and we will be rolling them out sequentially.
This is our commitment to you that because you chose to believe in us, we will ensure to leave no holder behind. In the long run, our team is inclined to adopt similar mechanisms for when we expand to even more chains that would require our services.
Read more about our NFT cross chain plans here:
https://medium.com/@madmeerkat0/stepping-into-the-future-of-madness-46619402874c
Why now?
Today, our community and project remains the strongest. We’ve just kick-started the NFT minting for our GameFi project, and in a short-span of 12 hours, we have over 25,000 NFTs already minted, with over 1800 unique addresses.
This is quite a feat especially in an environment where hot money has significantly fled (low DeFi TVL). As we start to observe promising macro-indicators: Slowing of rate hikes, Eth-led crypto rally, Closing the chapter on overleveraged crypto entities — The climate appears more promising for serious projects to continue with their plans.
Why polygon?
Coupling the above macro-indicators, we also start to see a flurry of projects migrating into Polygon chain because of its low trading fees and stability in their network. Ourselves, we enter the fray with the hopes of serving these very projects, and cementing ourselves as one of the liquidity bedrocks of Polygon chain, much as we have done so for Cronos. We are in contact with the official Polygon team and will be receiving full marketing support for our launch on their chain.
Polygon chain has over $2 billion TVL and is ranked 6 according to defiLlama. Not only that, the leading dex on Polygon currently has a trading fees of 0.30% imposed and we strongly believe that we will be able to quickly rise to the top with our user-focused low trading fees at 0.17%. We aim to capture the largest market share in Polygon within 1–2 months after our launch.
In conclusion
Our team is excited to bring you these developments, and we hope that these excite you as well. On top of all the proposed changes to the existing MMF ecosystem (on Cronos) — where the changes are to be released over-time, we are now concurrently deploying our cross-chain initiative.
As part of the MM community, we hope that you find this news a welcoming one; the goal of such, to kick-start a cycle of renewed interest from members outside of our existing community, to let them understand the MM playbook, to get them to stay for a long time as well. Tis’ the time to be MAD #LFGM
Follow Mad Meerkat Finance
Twitter: https://twitter.com/MMFcrypto
Telegram Group: https://t.me/MMFcrypto
Announcement Channel: https://t.me/MMFann
Price Channel: https://t.me/MMFPrice
Website: http://mm.finance/
Medium: https://medium.com/@MMFinance
