Mad Meerkat Finance (MM.Finance) is an automated market maker (AMM) and decentralized exchange (DEX) on Cronos Chain that offers fee discounts to its users through commercial mining.
In this article, we will discuss:
What is Mad Meerkat Finance (MMF)?
Mad Meerkat Finance or MM.Finance is the most popular AMM & DEX on Cronos & Polygon with the highest trading volume. It charges less on trading commissions just 0,17%. It also marks the first time that Protocol Ownership Liquidity (POL) has been added to DEX.
Potential clients will discover promising projects on Mad Meerkat Finance in advance and will follow them as they develop through trade, agriculture, etc. in massive predators. The best support for a project, including donations/fundraising, arbitrage support, marketing support and a network that spans all chains, can be found at MM Finance. Projects can contact the team to configure farms or pools or to be whitelisted for the exchange.
Blockchains used by Mad Meerkat Finance, Cronos & Polygon have much lower transaction fees than Ethereum or Bitcoin. Mad Meerkat Finance, unlike centralized exchanges, does not hold a client's funds when trading; instead, a customer owns 100% of their tokens and can trade directly from their wallet without anyone holding their funds.
What features does Mad Meerkat Finance have?
DEX has 0,17% swap fees, which is the lowest among other DEXs and AMMs on the network. In addition to the token exchange feature, DEX also offers Liquidity Pool (LP) Tokens to its users which allow it to provide liquidity by adding tokens into liquidity pools.
Another feature of MM.Finance's DEX is its Protocol Owned Liquidity (POL). This implies that out of the 0,17% swap fees that traders pay to exchange tokens on the platform, a part is used to buy back MMF tokens and form POL. The purpose of buying back the ecosystem's native token with much of the trading fees and forming LPs is to increase the platform's trading volumes and create deflationary pressure on the MMF, thus increasing its value over time.
Mad Meerkat Finance: Token Exchanges
Users can trade using Mad Meerkat Finance without going through a centralized exchange. There is no need to entrust the coins to someone else because everything a customer does with Mad Meerkat Finance is directed through their wallet. At Mad Meerkat Finance, token exchanges are a quick and easy way to exchange one token for another using automated liquidity pools. Every time a trade is made, a trader will receive rewards in $MMF. A trading fee of 0,17% is charged for each token exchange made on the exchange and is calculated as follows:
- 0,10% – returned as a fee reward to liquidity pools for liquidity providers.
- 0,05% – To create Protocol Ownership Liquidity, buy back $MMF (POL)
- 0,02% - MM Finance Treasury
Liquidity Pools at Mad Meerkat Finance
The Mad Meerkat Finance exchange can only function when there is sufficient liquidity to support trading; for example, it wouldn't matter how much a customer wanted to trade for some $MMF if nobody wanted to sell any. An MMF holder will receive LP Tokens for providing liquidity, which will reward them with trading fees in exchange for ensuring there is always liquidity available for the exchange to use. By adding their tokens to liquidity pools, customers can contribute liquidity.
For example, a trader would receive MMF-USDC LP tokens if they deposit MMF and USDC in a liquidity pool. A trader's share of the MMF-USDC liquidity pool is represented by the number of LP tokens they receive.
In addition, a holder may, at any time, redeem their funds by removing their liquidity. Offering liquidity carries some risk because a holder may suffer a temporary loss.
The good news for liquidity providers is that they will also receive compensation in the form of trading commissions. As an illustration, whenever a trader uses Mad Meerkat Finance, they pay a fee of 0,17%, of which 0,1% goes into the liquidity pool of the swap pair they used. Being a liquidity provider is made all the more rewarding by the fact that LP token holders can use them to generate new income at Yield Farms while still receiving a 0,1% trading fee reward.
Protocol-owned liquidity
Mad Meerkat Finance is the first AMM/DEX to incorporate POL into the protocol system. They will be able to ensure that as the trading volume on the platform increases, it will help create deflationary pressure on the MMF, leading to an increase in price over time, allocating a significant portion of the protocol fees to buy back the MMF and create LPs. Furthermore, the team ensures that there will always be liquidity for MMF tokens by establishing LPs. There will be enough liquidity to support any settlement, even during a bear market.
income farms
Holders can stake Liquidity Pool (LP) tokens through Yield Farms to earn MMF at Mad Meerkat Finance. Each farm has a unique APR that varies based on the price of $MMF, the reward multiplier, and the value of LP tokens.
Mad Meerkat NFTs
Mad Meerkat NFTs is an NFT protocol whose genesis series was released as ERC-721 tokens on the Ethereum blockchain and is hosted on the InterPlanetary File System (IPFS). The series is a collection of 777 NFTs inspired by the "sassy nature of the lovable rogues". The collection is available at OpenSea at a minimum price of 1,85 ETH and a total trading volume of 280 ETH, almost $722K. Each Mad Meerkat NFT provides the owner with various NFT copyrighted materials and the chance to be eligible for future airdrops on a non-exhaustive basis.
These NFTs are also available in various configurations in the Cronos ecosystem as Mad Meerkat's CRO, with an initial launch date of December 5, 2021. Thus, the collection offers holders cross-chain utility across networks blockchain Ethereum and Cronos. This allowed MMF AMM/DEX to introduce NFT Staking, an additional feature for users to increase their daily earnings on MMF. Users will only earn rewards when staking their NFTs if they have already staked assets in the DeFi ecosystem's liquidity farms. Users need to stake their NFTs before depositing the crypto assets into the farm.
community vote
Mad Meerkat holders are welcome to the community and will be valued for their contributions to the ecosystem's history. It's unique, and members will have the chance to collectively vote as a community for any future deviations the project will take.
Genesis Meerkats
There are 777 different Genesis Meerkats, each with numerous configuration options. The team's design virtuoso meticulously hand-drawn and digitally created each element and asset. With over a million possible combinations of over 150 different characteristics, including expression, headgear, clothing and more, each Meerkat is individually programmatically created.
MMF Launchpad
On December 19, 2021, MM Finance revealed that it will be the 1st DEX on Kronos to launch a launch pad project. The first project introduced was MM Optimizer, a DeFi agricultural yield aggregator in Cronos that is now the leading agricultural aggregator for MM Finance. The agricultural aggregator was launched on December 25, 2021.
Platform Launch Pad is now on track to launch its 9th launch pad, Cronos FC, a risk-to-win (R2E) platform on Cronos on March 20 at 8:XNUMX am UTC. Projects that the MM Finance launchpad has presented so far are:
- Mimas Finance: An algorithmic money market and net betting protocol based on the Cronos network. The team behind this protocol is the same team that built Tranquil Finance on the Harmony network. Mimas Finance is a fork of Tranquil Finance, which in turn is a fork of Compound Finance. The protocol allows users to provide and lend assets while receiving or paying interest in a completely decentralized and permissionless manner.
- Croissant Games: The protocol aims to run a series of play-to-win blockchain games that are transparent, non-custodial and immutable. 50% of all profits generated from the game set will be redistributed to holders of its token, whose tokenomics will be similar to PolyRoll, the decentralized gaming ecosystem built on the Polygon network and powered by Chainlink. Using profit projections based on Polyroll's historical statistics, Croissant Games is targeting a minimum profit of $200.000 per month. The protocol allows for gas-free gaming through the use of EIP-712.
- CRO Predict: A prediction market maker to earn GameFi on the Cronos blockchain. It allows users to predict the prices of Bitcoin, Ethereum, Cronos, Litecoin and Dogecoin to earn CRP rewards by making correct predictions. The launchpad augmentation of the GameFi protocol was done on MMF tokens, and the team initially formed an initial liquidity farm as CRP-MMF, thus locking more MMF into the ecosystem and adding liquidity to the token.
- Savanna (SVN) Finance: SVN Finance is a fork of Tomb Finance, an algorithmic stablecoin protocol built on the Fantom Opera network. However, major changes were made to its mechanics compared to Tomb to give SVN Finance the ability to act as a DAO that accumulates MMF tokens. It is set up as a Decentralized Autonomous Organization (DAO) which aims to accumulate MMF tokens to lock veMMF tokens. SVN Finance currently has a total blocked value of $172,33 million.
- GambleFi: A zero-loss DAO and sports betting protocol that is a financial ecosystem based on a rebase currency, BETIFY, which is managed by the DAO. Each BETIFY token is backed by a basket of assets that are held in GameFi's treasury; this gives the currency an intrinsic value, ensuring that it does not fall below a certain minimum price. The Zero Loss Betting system, as the name suggests, ensures that users do not run the risk of losing their capital, contributing to the exponential growth of the treasury. The DAO also has additional features such as an NFT vesting reduction system that facilitates the purchase of securities and a cash redistribution feature.
Unlike Tomb, SVN will be algorithmically pegged to the MMF token rather than the CRO, and primary liquidity will be held in LP SVN-MMF pools. Additionally, the protocol has added a redemption fund that ensures that developers tamper with MMF tokens to keep the peg from SVN to MMF, only if all mechanisms fail to allow the protocol to retrieve the peg. Posting the successful IDO of SVN on Feb 11, for the first 30 days (i.e. until March 12) the MMF team used treasury funds to support the SVN price so that it retains its index to 1 MMF.
Although DAO is based on Olympus DAO, it differs in ways to better serve its own customers. One of these differences is the Booster Boxes that allow the protocol to add a burning mechanism that will guarantee the valorization of the treasure. There are 2 ways to open booster boxes: with BETIFY when 100% of the tokens are burned or with USD Coin (USDC) when 90% of the tokens are sent to the treasury and 10% are used for team funding.
- Mad Meerkat ETF: Formerly known as MMDAO, Mad Meerkat ETF (MMETF) is a decentralized Cronos-based ETF protocol that runs on the METF token. To better describe themselves, the team behind the protocol coined the term DEX Traded Fund (DTF). Each METF token is backed by a basket of assets from within the DeFi ecosystem (MMF, METF-MMF LP Tokens, etc.) in the METF Assets Under Management (AUM), thus providing an intrinsic value that cannot fall below. The DTF aims to track high-performing assets listed on the MM Finance DEX.
Cronos DeFi Incentive Program
To support the wider Cronos ecosystem, Mad Meerkat Finance (MMF) launched a $1 million ecosystem fund on December 31, 2021. Any project based on Cronos can apply for this fund by filling out this form. form , and those chosen may be eligible for rewards, as listed below:
- Farm project native tokens with MMF rewards.
- Use of SVN Finance to distribute tokens to holders within the DeFi ecosystem.
- Marketing promotion on MMF's social networks, currently with almost 45 thousand followers on Twitter.
- Get priority benefits.
- Establish and maintain direct connections with MMF staff.
- Product financing from US$10 to US$30 for business development and project team expansion.
- Up to $10K for security auditing with approved partners like Certik.
- Mentoring and networking connect with the MMF team.
- 1 free MMB NFT as an invite gift.
MMF Token
The main utility token driving the MM Finance ecosystem is MMF. To investigate its use cases, a holder can earn MMF from Yield Farms and Pools, buy it on the exchange, and then:
- Bet on Pools or Farms to earn rewards
- Get access to launchpad via MMF
The protocol has a total supply of 500.000.000 MMF. Depending on how commercial mining and rig yield farm are used, the earnings split may change. In other words, if trading volume increases in the future, the protocol may change some commercial mining to produce agriculture and vice versa. On a block emission basis, farm and pool emissions will be released over time. Once the team decides that there is sufficient liquidity on the platform for trading, they will gradually reduce emissions.
Where to buy MMF token?
The MMF token can be purchased on several major cryptocurrency exchanges, some of the biggest are: Crypto.com and MM Finance(Cronos).
Conclusion
Mad Meerkat Finance (MM Finance) is the AMM with the lowest transaction fees in the Cronos ecosystem. MM Finance is not only a DEX but also offers many unique features to attract users. This helps make it even more special in the Cronos ecosystem. MM Finance's ambition is to build a diversified Defi ecosystem to ensure differentiation and future growth.
