The Buidlpad platform has seen every project from the past successfully listed on Binance, and this time Buidlpad has launched a new project called MMT.
1. What is @MMT?
The full name of the project is Momentum, abbreviated as MMT. It is the most liquid DEX platform on the SUI public chain and an indispensable DEFI platform on the SUI chain, using the CLMM (Concentrated Liquidity Model), which can be understood as 'Sui version of Uniswap V3.'
Its positioning is not just a simple Swap platform, but aims to create a foundational layer of liquidity for the Sui ecosystem, with the goal of becoming the 'Financial Operating System (Financial OS)' for the entire Move ecosystem (Sui, Aptos, Movement Labs).
Since the release of the Beta version in March, Momentum has had over 2.1 million independent active users.
TVL is currently $550 million.
Cumulative trading volume exceeds $18 billion.
In the detailed investment and financing, you can see some familiar faces, such as OKX, Coinbase, Circle.
2. How much is the amount raised in this new issuance?
The fundraising target this time is $4.5 million. If you are a HODL activity staker, you can participate at a fully diluted valuation of $250 million (equivalent to a discount). If you are just an ordinary user, you can participate at a valuation of $350 million. There are three types of assets for participation: sui on the sui network, usd1 (on the bsc chain), BNB (on the bsc chain), priced in these tokens.
3. What is a HODL activity staker?
So what is a HODL activity staker? It refers to those who stake through Buidlpad for this project, provide liquidity, and act as LP, with a maximum allocation limit of $20,000. If you invest more than $3,000, the maximum limit allowed for new issuances is $3,000; if you invest $50,000, the allowed limit for new issuances is $4,000. Note that this only increases your limit and does not guarantee that you will definitely get this amount. Different investment amounts correspond to different maximum limits for new issuances. It is recommended to stay within the $3,000 tier.
Choose stablecoin LP to reduce impermanent loss. For example, suiUSDT-USDC.
4. Ordinary users
The limit for ordinary users is $50-2000. Check the witch to prevent various cheating.
The total public offering is $4.5 million, and priority allocation qualifications will take it, the remaining will be proportionally reduced. For example, through ordinary users, a total of $60 million was finally raised, but the allocation limit for ordinary users is only $3 million (with $1.5 million given to those who cheat), assuming each person invested $2000, then the limit you can get for one account is corresponding to $2000/$60 million * $3 million = $100. Yes, you are allocated $100 to invest (the price is based on a valuation of $350 million), and the remaining $1900 will be refunded to you. This is the rule of the game.
In addition, the final subscription amount will prevail, and Buidlpad will charge a fee of 3.5% (negligible for expected profits), and if the subscription fails, the fee will be $0.
5. Several time points:
KYC / Subscription time: October 22, 18:00, to October 25, 10:00.
HODL staker snapshot time: October 25, 10:00.
Qualification confirmation time: October 27, 18:00.
Funding time: Funds must be transferred within 24 hours after qualification approval, that is, from October 27, 18:00 to before 18:00 on October 28.
Settlement and refund: October 31, 18:00. At that time, you can check the final distribution of MMT tokens. Excess or ineligible amounts will be refunded to the user's wallet.
MMT distribution: 100% will be distributed on TGE day, and claimed on Buidlpad without lockup.
Of course, for stakers, the wallet bound on Buidlpad and the wallet depositing money on MMT must be the same.
