MM Finance is an automated market maker (AMM) and decentralised exchange on the Cronos platform. Due to this, it offers lower transaction costs than Ethereum or Bitcoin of just 0.17% on the Cronos Chain as compared to other blockchain networks. The uniqueness of MM Finance token is that it is perhaps the first one to introduce its protocol-owned liquidity (POL).
The MMF crypto has had a mixed run in the past 30 days, witnessing highs and lows. While in the past 30 days, it was up by 19.2%, in the past seven days, it was down by 10.2%. However, on 20 April, the MMF crypto was rallying over 5%.
Also read: Calo (CALO) crypto: Why is it grabbing attention?
Why is MMF crypto rallying?
MMF crypto is rallying on the back of the announcement of the MM StableSwap. With the MM StableSwap, the MMF ecosystem has become more capital efficient. With this upgrade, the traders will now get a chance to swap tokens efficiently.
The project expects that with the stableswap, it would be able to generate more daily trading volume and could break its previous high of US$550,000,000. The MM StableSwap can also prevent high slippage on stablecoin pairings.
Also read: Will Metaverse host fashion shows in future?
The users can stake their tokens in the liquidity pools and earn MMF tokens. The rewards are calculated based on the Annual Percentage Rate.
How is MM Finance crypto faring?
The 2837-ranked token was trading at US$1.19 with a 24-hour trading volume of US$77,192,591. The MMF crypto was up by 8.06% in the last 24 hours. The MMF token enjoyed a fully diluted market cap of US$598,467,817 and a maximum supply of 500,000,000 MMF coins.
Conclusion
Audited by well-known firms, such as Certik, Paladin, Immunefi and Slow Mist, MMF presents a well-secured platform. According to its roadmap, MMF is looking for deeper integration within the NFT ecosystem, including NFT staking. The MMF also offers voting rights to its users, which gives them the opportunity to vote on the future governance of the MMF ecosystem.
Having said that, the mixed run showcases the volatility of the token and why one should always be wary of crypto markets. As a market participant, one always needs to be vigilant and do proper market research before taking any investment decisions.
Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.
