MM Finance, or Mad Meerkat Finance, is a decentralized exchange (DEX) and an Automated Market Maker (AMM). It was established in 2021 and headquartered in Swarzedz, Wielkopolska.
The exchange is originally based on Cronos but it was also deployed on Polygon. Although Cronos can handle more transactions per second than Ethereum, users must acquire CRO tokens to cover the cost of gas in order to move money on this blockchain. As a result, in order to link a wallet to MM Finance, it must support CRC-20 tokens.
Apart from trading, the platform also offers a vast variety of features, including yield farms, liquidity pools, NFT marketplace, StableSwap, launchpad, and analytics tools.
Trading on the MM Finance crypto exchange requires KYC verification. There's no information about restricted countries. The MM Finance exchange is accessible via the web and mobile devices.
Markets
MM Finance spot market facilitates crypto-crypto trading with over 100+ assets. There are over 115 MM Finance trading pairs on the market. Spot market allows users to trade without leverage. Besides, the exchange doesn't offer perpetual and futures trading options.
The native token of the exchange is MMF. The token is used to access all platform's features, as well as earn rewards through staking and providing liquidity. Check out the MM Finance crypto price right here.
Concerning the MM Finance exchange fees, it only charges a trading fee that stands at 0.17%. This MM Finance crypto fee is then distributed to MM Finance Treasury (0.02%), MMF Buyback mechanism (0.05%), and liquidity pool rewards (0.1%).
Other Services
Aside from the MM Finance spot market, the exchange offers StableSwap, which enables low-cost and low-slippage swaps between stablecoins. The swap has a 3MM Basepool, which is a stablecoin pool that contains USDC, USDT, and DAI stablecoins.
Also, MM Finance has the Mad Meerkat Bridge, which is a cross-chain bridge that allows users to move assets across different chains.
Moreover, MM Finance offers earning possibilities through its pools, farm, and vaults. By using MM Finance yield farms, users can stake their Liquidity Pool (LP) tokens to earn MMF. They can then stake these MMF tokens in MM Finance pools. MM Finance vaults employ the MM Optimizer compounding algorithm, which enables users to receive higher APYs according to how long they keep their LPs in the vault and whether they leave rewards there or not.
Furthermore, MM Finance offers various DeFi services and products, including METF, a DEX traded fund; Savanna (SVN), an algorithmic stablecoin pegged to MMF; MMF Money, a stablecoin pegged to the US Dollar; and Hakuna Matata, an algorithmic stablecoin platform with HAKUNA stablecoin pegged to SVN.
In addition to that, there's also a Launchpad on MM Finance, which provides new projects with a place to launch their crypto assets.
Lastly, there's the MMF Marketplace where users can buy various NFTs, including Mad Meerkat NFTs.
About the Company
The MM Finance cryptocurrency exchange was established in 2021. The developing team of MM Finance aims to build the biggest DeFi playground across all chains and provide crypto enthusiasts with multiple earning opportunities. Besides, it's the first to introduce Protocol Owned Liquidity (POL) into a DEX, which implies the buyback of its token MMF and thus increases the MM Finenca crypto price over time.
The company established a strategic partnership with Single Finance to arrange over-collateralized MUSD loans that will generate interest for BURROW holders. Also, it has partnered with Immunefi, a leading Web 3.0 bug bounty platform. Other projects it has partnered with include GambleFi (DAO and sports betting protocol), CroPredict (a prediction market GameFi), and Croissant Games (a decentralized gaming platform).
MM Finance suffered some downtime around May 4th, 2022, when they came under the DNS attack. A malicious contract address was injected into the frontend code using a DNS vulnerability. As a result, some users lost their funds while making swaps, and adding or removing liquidity. Approximately $2,000,000 worth of digital assets were transferred to the Ethereum network and then laundered by Tornado Cash. However, none of the MM ecosystem tokens were affected and smart contracts remained safe.
In attempts to restore users’ trust and stop the panic, the team hired some cybersecurity experts to monitor the website around the clock and created a compensation pool for its community members whose money was stolen during the attack. Also, they removed 2 service providers to reduce attack vectors. In addition, MM Finance launched a bug bounty program to encourage developers to find vulnerabilities in its code.
To tighten security, the platform conducts auditing for every new contract and service, which involves some of the most competent audit firms. In particular, its codebase, PCS codes (Procedure Coding System), and contracts have already been tested by CertiK, Paladin Security, and SlowMist.
As for the company’s team members, they prefer to stay anonymous as there is no information available on the website or anywhere else on the web.
