Mad Meerkat Finance Announces Crucial Updates On Their Move to Polygon

Mad Meerkat Finance (MMF) is currently deploying a V2 stableswap on Polygon to migrate MUSD and BURROW. Several more updates are in the works

More Steps to Solidify Position

The Mad Meerkat Finance (MMF) ecosystem has been on fire since the Cronos protocol was launched on Polygon. In terms of TVL dominance, MMF currently holds the top position among all dApps, with 26.36% of TVL in Polygon.

In order to solidify their position even more, the MMF team has released a few important updates on their move to Polygon. As reported in a Medium article from Aug. 23, here are some of the details:

  1. The team is preparing to bridge MUSD and BURROW over to the Polygon chain.
  2. Additionally, the team will set up stableswap liquidity farms in the coming days. According to the team, they will be more capital efficient and promote higher trading volumes.
  3. The Mad Meerkat Ecosystem will launch over 10 launchpad projects on the Polygon chain.
  4. Furthermore, the team is focusing on MMO utilities in the short run to boost token usage and promote better price action. The team has already launched staking of MMO to earn WMATIC, which shows a current APY of 3386.13%.

As the article states, the MMF team is deploying a V2 stableswap on the Polygon chain to facilitate cross-chain functions more efficiently. In addition, the V2 stableswap will be the basis for the migration of MUSD and BURROW.

“Bridging MUSD and BURROW will increase the number of users using MUSD and BURROW. With higher trade volume and with the growth of MUSD, we will be able to bring more value to BURROW holders,” Utan Boss, co-founder of Mad Meerkat Finance, told Web3Wire.

‘About to Ramp Up MMF Utilities’

However, observations also indicate that some users are selling $MMF to create liquidity for MMF-WMATIC and MMF-USDC. Nevertheless, Boss is hopeful that, overall, users will hold onto MMF:

“We are fine with that because our liquidity is growing daily. That said, we believe in the (3,3) game theory, and hopefully, users will hold on to $MMF and stake them instead of selling it to form LP.”

As the team explains, they are about to ramp up MMF utilities, and holding MMF tokens will, in turn, provide higher yields since there's “no impermanent loss.”

This recent move from Mad Meerkat Finance(MMF) to Polygon has attracted a lot of attention. Web3Wire will closely monitor all the developments to bring you crucial updates.


What Is Mad Meerkat Finance:

MM Finance has one of the largest ecosystems in Cronos and Polygon, offering a decentralized exchange, a yield optimizer, the Mad Meerkat NFTs, a project launchpad, and more. Moreover, the platform is an automated market maker, and the exchange lies at the center of the ecosystem. In addition, MM Finance enables users to earn passive income by staking crypto assets in liquidity pools.

Find more about Mad Meerkat here:

Website | Twitter | Medium | Documentation | Telegram | Discord | Telegram Announcements

Related News