As traders focus on the well-known Shiba Inu (SHIB) meme coin, a lesser-known project called Mutuum Finance (MUTM) is quietly making big moves in the DeFi world. Mutuum Finance is quietly finding its way into high-octane discussions online on how it has the potential to change how DeFi works. Meanwhile, Shiba Inu (SHIB) is showing sideways price movements, making it hard to forecast its medium-term price. The result has been that some SHIB holders have been quietly finding opportunities for an exit and moving into Mutuum Finance (MUTM).
Mutuum Finance (MUTM) – A Hot Topic Online
Discussions of Mutuum Finance (MUTM) have been revving up online as people marvel at the innovative features it offers in the DeFi world. Those discussions recently ticked up when the project released the results of its Certik audit.
The move to submit the project’s smart contracts for a Certik audit signals the full confidence the team has in their work. A Certik audit is often the only measure of serious versus joke projects in the crypto world. In a sector where people are always trying to misdirect the masses, trust is in deficit, and the only way to build it up is to present a Certik audit report.
On Mutuum Finance (MUTM), security is the backbone of all operations. They not only focus on the security of the smart contract code, but also on the overall security of the platform. By doing so, the project has earned itself a loyal following and now has over 20k followers across all its social media platforms. Let us take a deep dive into some of the security measures implemented on Mutuum Finance (MUTM).
Wallet Address Screening
On Mutuum Finance, the team plans to incorporate a blockchain intelligence service that will monitor all addresses that interact with the platform. The service will restrict the use of addresses associated with prior unlawful acts to minimize the danger of similar activity finding its way into the platform. As such, only legitimate users seeking to benefit from the wonderful features of the platform will be allowed in.
When a new address tries to connect to the protocol, it first goes to a proxy endpoint. The endpoint sends it to a third-party screening service without any of the associated metadata, including the IP address. This screen is used to check if the address has engaged in restricted activities in the past.
Liquidity Protection
Mutuum Finance (MUTM) is built as a decentralized non-custodial protocol where users can deposit liquidity, and borrowers can take loans using overcollateralized collateral. When a new user adds liquidity to the pool, they receive mtTokens. These tokens represent their deposit in the pool, as well as the interest their assets will accrue.
Mutuum Finance allows users to redeem their mtTokens for their initial deposit and interest accrued. However, it has put in place measures to prevent excessive liquidity drain from the protocol. One of the measures it has taken is the creation of external redemption pools.
The setup ensures that mtToken holders can trade them for other assets in the market, even when liquidity in the protocol is under pressure. Consequently, it reduces pressure on internal reserves.
Besides these external pools, Mutuum Finance plans to implement Curve-style solutions. For tokens that are linked to stablecoins or correlated assets, there will be a specialized automated market maker pool. The pools, modeled on Curve, will reduce slippage and optimize the rate for assets with correlated prices.
The extra layer of trust is why Mutuum Finance (MUTM) has experienced massive success in the presale. As new buyers discover the wonderful security features on the platform, the pace of the presale has gained speed.
The Mutuum Finance (MUTM) Presale Accelerates
The presale for Mutuum Finance (MUTM) tokens has recently experienced an acceleration as more people find out about its huge benefits. Currently in phase 5, the tokens are selling for $0.03. So far, over 20% of the tokens in the current phase have sold out, less than a week after it started.
The presale price rises in steps, with the Phase 1 buyers acquiring their tokens for $0.01. In the upcoming phase, the token price will rise by 16.67% to $0.035 per token. As such, many buyers, who recently found out about the project, have been buying the tokens as they await a 100% ROI based on the listing price of $0.06.
Another major factor pushing up interest in the tokens is the recent listing on CoinMarketCap. For a token to be listed on the leading crypto price aggregator, it has to prove several aspects of the project. Having passed these strict standards, Mutuum Finance (MUTM) has earned a listing, boosting trust in the protocol. For anyone seeking out a trusted, well-designed project in the DeFi space, Mutuum Finance (MUTM) is a name that keeps popping up.
For more information about Mutuum Finance (MUTM), visit the links below:
Website: https://www.mutuum.com/