What is Mummy Finance? Mummy Finance is a Perpetual and Swap project built on the Fantom Opera ecosystem. Considered a fork of GMX. So what’s different about Mummy Finance? Let’s find out with Weakhand.
To understand more about Mummy Finance, please read the articles below:
- What is GMX (GMX)? Overview of GMX Cryptocurrency
- What is Perpetual Trading? Top 4 DEXs Leading in the Perpetual Array
- ZKX Protocol – The First Perpetual Platform on the StarkNet Ecosystem
What is Mummy Finance?
Overview of Mummy Finance
Mummy Finance is a DEX decentralized exchange on the Fantom ecosystem. Providing products such as decentralized spot and perpetual trading with fast speed, cheap fees and safety.
Mummy Finance is currently supporting perpetual trading supporting 5 types of blue chip tokens: BTC, ETH, BNB, FTM, LINK with leverage up to 100 times. Swap trading currently supports 9 asset types.
Currently Mummy Finance is operating on Fantom and Optimism blockchain with the following characteristics:
- Low cost: User nEnter and exit positions with minimal spreads and zero price impact. Get the optimal price without incurring additional costs.
- Simple swap: Simple, user-friendly swap interface.
- Reduce liquidation risk: Platform that aggregates Chainlink Price Feeds from major DEXs and CEXs. This pricing mechanism greatly benefits leveraged traders as it reduces the risk of liquidation.
The difference of Mummy Finance
- Zero slippage & funding fee: Users do not have to pay price inflation and funding fees.
- A multi-asset pool: Users provide liquidity into the pools and receive tokens representing MLP. Liquidity providers can withdraw assets at any time by burning MLP tokens in exchange for any asset in the pool.
- Mummy Club NFT: Mummy Finance also launched the Mummy Club model, a collection of 5000 NFTs. All revenue from the Mummy Club NFT sale will be transferred to the Treasury (reserve fund) and reinvested into MLP to receive fees from the platform. Users buy NFT to receive esMMY, from which they can vest MMY for 1 year or stake esMMY to receive FTM.
Features on Mummy Finance
Mummy Finance’s features include: Trade, NFT, Earn, Buy, Referral
- Trade: Users can trade Long, Short with leverage up to 100 times with features similar to CEX and Swap trading.
- NFTs: Mummy Club mockup – collection of 5000 NFTs. Users purchase NFTs to receive esMMY.
- Earn: Users who stake MMY or MLP on Fantom and Optimism networks, can earn income and protocol rewards.
- Buy: Users can purchase MMY and GLP directly on the Fantom network and Optimism directly from the protocol.
- Referral: Users create referral links and receive rewards.
Development Roadmap
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Core Team
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Investor
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Tokenomics
Overview of MMY Token
- Token Name: Mummy
- Ticker: MMY
- Blockchain: Fantom
- Contract: 0x01e77288b38b416f972428d562454fb329350bac
- Total Supply: 10,000,000
MMY Token Allocation
- Initial liquidity: 10%
- DAO Fund: 10%
- The MUMMY NFT: 15%
- Dev Fund: 10%
- MLP Stakeholder: 35%
- MMY & esMMY Staker: 20%
MMY Token Relase
- DAO Fund: Will be paid in installments within 1 year.
- The MUMMY NFT: Will be paid in installments within 1 year.
- Dev Fund: Will be paid in installments within 1 year.
- MLP Staker: Will be paid in installments within 1 year.
- MMY & esMMY Staker: Will be paid in installments within 1 year.
MMY Token Use Case
- Vote to administrate the project.
- Protocol revenue sharing: MMY and esMMY token holders can stake to receive 30% of transaction fees. The remaining fees include 60% transaction fees for MLP stakers, 5% for the team and 5% for buying back and adding liquidity to the MMY – FTM pair.
- When Staking MMY token, users will receive Multiplier Points with an APR of 100%.
Summary of rewards:
- Stake MMY tokens: earns FTM/WETH, esMMYand Multiplier Points.
- Stake esMMY: earns FTM/WETH, esMMYand Multiplier Points.
- Stake Multiplier Points: FTM/WETH APR increaseAPR FTM/WETH.
- MLP: when a user owns MLP tokens, the protocol will automatically stake MLP and earn FTM/WETH , esMMY.
Exchanges
Users can buy MMY tokens on exchanges: Hotbit, LBank, Openocean, KyberSwap, Equalizer, SpookySwap.
Project Information Channel
- Website: https://twitter.com/mummyftm
- Telegram: https://t.me/mummyftm
- Discord: https://discord.com/invite/xqSJaw8sUB
- Medium:
Summary
Mummy Finance is a Derivative on the Fantom ecosystem, a fork of GMX, with a different Tokenomic model design. Will Mummy Finance bring a breath of fresh air to the Fantom ecosystem?
Hopefully this article provides useful information about the Mummy Finance project and MMY token.