Thread by @Tanaka_L2

I'm still holding $MMY for long term investment

@mummyftm is a spot and perpetual DEX ( fork from #GMX) built on @FantomFDN

Now MC: 944k

If you compare with $OPX $GMX $GNS $MVX, MC of this project is quite small.

Short thread about $MMY ✍️(1-5)

#realyield #OPX #GMX #MVX #GNS

1/ What is mummy finance?

@mummyftm is a spot and perpetual DEX ( fork from #GMX) built on Fantom network that offers trading up to 50x leverage with no slippage.

Mummy will share the real yield of the platform's generated fees in $FTM via dual token ecosystem.

2/ Token ecosystem

2.1/ $MMY token.

🌱$MMY is governance token of Mummy, holding MMY unlocks a variety of benefits via staking mechanism.

🌱MMY stakers can earn up to 30% fee collected in $FTM.

🌱Max supply: 10,000,000 MMY

🌱Circulating: 1,060,003 MMY

The remaining 9M MMY will be vested in 1 year.

2.2/ $MLP token

$MLP is called the Mummy “Index” Token, a liquidity provider token.

LPs deposit their asset to the pool will recieve MLP token.

Stake MLP token can earn 60% fee collected in $FTM

3/ Mummy NFTs

Called Mummy club, a collection of 5,000 Mummy NFTs on Fantom, creating a community centered around strong identity, values, and rewards.

Stake NFT to recieve FTM reward in protocol’s collected fee. The earlier you buy, the cheaper the NFT, and the higher the reward you get.

4/ Fee distribution

🌱60% fees for MLP Staker

🌱2.30% fees for MMY & esMMY Staker

🌱3.5% fees for Buyback MMY & Add liquidity MMY/USDC (DAO)

🌱4.5% fees for Buyback & Burn

5/ Protocol stats

$MMY

Price: $0.9

🌱Circulating: 1,060,003 MMY

🌱Cap: ~$940,000

🌱Staked: $153,656

$MLP

🌱Price: $5.979

🌱Circulating: 16,948 MLP

🌱Market Cap: $101,337

🌱Staked: $101,337

5/ Conclusions

After 2 weeks since launch, only 35 protocol users with $125,035 total trading volume. Mummy finance generated ~$400 fee.

With such a small number of users, it can be said that the protocol has not really attracted users.

But there is still a lot of space for Mummy to expand when its still early for real yield and perp dex protocols on fantom ecosystem, which used to be the home of defi protocols.

The project is really strong with the support of the community.

@degenromeo
@RomeoTrades
@KadunaGems
@Mikee_93
@BraverCrypto
@ja1405_ja
@ZenRacc00n
@lets_DYOR
@Defaultplayer13
@CryptoMocro_

I know, no have entry at the moment. But I want anyone followed me understand about this project. Thanks. Lets it correction for good entry

@mummyftm @FantomFDN Look good now. I added more on my bag.