Mutuum Finance gains market attention amid general decline

As SHIB and DOGE struggle far below their all-time highs, Mutuum Finance is drawing attention with its utility-driven presale and DeFi model.

Meme coins SHIB and DOGE are not as popular as they used to be in the crypto market since they are still miles behind the all-time highs. To the crypto traders of the present, the indicators show no growth and shallow movement. Meanwhile, Mutuum Finance (MUTM) is an altcoin that has been observed as one that integrates real-world functionality along with a structured presale and is being discussed in current market discourse.

Memecoin legends see decline

Two of the most popular memecoins, Shiba Inu (SHIB) and Dogecoin (DOGE) are still much lower than their all-time highs (ATHs) as of press time. In October 2021, SHIB was trading at ATH of $0.00008845, and is currently trading at approximately $0.00001404, about 84% down. This is an indicator of SHIB being dependent on community-based momentum and speculative trading.

DOGE hit an ATH of $0.7376 in May 2021 but now it trades at around $0.286, which is a decline of 61%. It has traditionally been driven up by the recommendations of high-profile businessmen like Elon Musk, yet it does not have any significant technical advances that can be used to maintain growth.

Mutuum Finance: Presale progress

Mutuum Finance is at Stage 6 of its presale with a token price being 0.035. The project has already attracted above $15.8 million and attracted above 16.350 holders. It has sold about 40% of the allocation made on this round. The whitepaper of the project says that tokens will finally be released with a price of $0.06, with 45.5% of the total 4 billion supply allocated to the presale.

Mutuum Finance is based on a decentralized lending and borrowing protocol that integrates peer-to-contract (P2C) liquidity pools and peer-to-peer (P2P) lending. This design will enable the participants to act as suppliers or borrowers of assets via pooled mechanisms or negotiate with other users directly.

This protocol also presents an overcollateralized stablecoin pegged at $1. It is a stable coin, which is minted when assets are deposited as collateral and burned when loans are recovered. Chainlink price feeds and fallback oracles are supported by the system alongside the exchange data that is decentralized to ensure accuracy. Interest rates dynamically balance themselves with respect to the use of the pool, which is meant to counterbalance the supply and demand in addition to promoting sustainability.

mtTokens are given to users who provide assets and are considered as a way of their deposits and gaining value as a result of interest earned in the pools. These mtTokens may also be staked to reclaim dividend payments in MUTM tokens.

Repurchases of MUTM through the open market fund dividends, and are in turn redistributed to stakers. This will base the revenue model of the protocol on the demand of tokens, and generate extra utility to those involved in the ecosystem.

Security and community initiatives

The issue of security has been a key point in the implementation of the project. Mutuum Finance was audited by CertiK with a score of 90/100 in its Token Scan and 79 on Skynet. In addition to this, the team introduced a bug bounty program of $50,000 with a bounty of $200-$2000 based on severity.

Besides, the project is also conducting a $100,000 giveaway where MUTM tokens will be given to ten winners. These programs will be aimed to create trust and promote a wider participation of the community.

Roadmap and outlook

Mutuum Finance roadmap consists of the four major steps, which are the legal and educational preparations, developing the smart contract and DApp infrastructure, preparing the beta testing and listing on exchanges, and finally, deploying the live platform and institutional partnerships.

The latest announcement made by the team on X said: “We’re now finalizing a bigger update, roadmap, current status, and upcoming milestones, accompanied by social content.” This implies that an elaborate development update will be announced shortly.

Mutuum Finance is attracting attention due to its emphasis on structured mechanics and presale advancement. By combining lending and borrowing features, a stablecoin framework, staking, and revenue-backed token distribution, MUTM has positioned itself as a new player within the DeFi space as it advances toward its launch.

To learn more about Mutuum Finance, visit its official website and socials.