The Mad Meerkat Finance team has announced plans to revamp its presence on Cronos Chain. Can the DeFi project regain its former glory?
MM Finance starts projects and revise tokenomics
After last year’s foray into Polygon, Mad Meerkat Finance is refocusing its efforts on its home base, Cronos Chain. On Jan. 16, the team unveiled plans for Cronos, including launching its MadMex Perpetuals exchange, enhancing its ecosystem tokenomics, and implementing an “MM money market” for MM token holders.
According to a Medium post, the developers plan to roll out their plans over the next 2-3 weeks, starting with the launch of MadMex Cronos in the next few days.
“We have always believed strongly in Cronos and our project team still holds Cronos tokens to this day, even in the depths of the bear we never doubted that Cronos has the capability and will definitely outperform most other L1 ecosystems such as AVAX, SOL, MATIC,” said the team. “And as one of Cronos’ top projects, we take on the task of continually helping to create new value for Cronos and its owners.”
True to its name, Mad Meerkat, which originated as a Non-Fungible Token (NFT) project on Ethereum, has consistently been waving for the fences with ambitious proposals that have resulted in massive ups and bitter downs for the project.
Mad Meerkat has selectively secured top spots for decentralized finance (DeFi) protocols on both Cronos and Polygon.
Currently, Mad Meerkat is the fourth-ranked DeFi protocol on Cronos in terms of Total Value Locked (TVL), after posting 56% growth (to $23.2 million) over the past month, according to DefiLlama. The protocol is ranked 26th on Polygon, with its TVL down 18% over the past month to $6.5 million.
“Now we understand that there are some of you that we have offended or let down in one way or another. We understand that it is a big task for us to ask you to believe in us completely. We’re not asking you to do that – instead, we’re asking you to stay the judgment and allow us to show you the fruits of our labor over the past few months,” the team said. “Let’s be excited together and make BUIDL the top project (on CMC!) again at the beginning of a new bull.”
Over the past 30 days, the price of $MMF (Cronos) has almost doubled, while $MMF (Polygon) has fallen almost 38%. Both are more than 99% below their all-time highs set in 2022.
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. In addition, the platform is an automated market maker and the exchange is at the heart of the ecosystem. Additionally, MM Finance allows users to earn passive income by investing crypto assets in liquidity pools.
You can find out more about Mad Meerkats here:
Website | Twitter | Medium | Documentation | Telegram | discord | Telegram Announcements
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.