Dear friends hello everyone ๐ I hope everyone is doing well and having a very good day
technical analysis
15m and 1h charts show price is down about 3 percent today trading near 0.118 US dollars
4h and 1d charts show bearish pressure because the price is moving with the broader market drop
1w chart shows the coin is holding near its recent low support of 0.112 US dollars
Market indicators give sell signals as traders wait for new US inflation data to see where the market goes
white paper and how it works ๐
Momentum is a decentralized finance hub built on the Sui blockchain that works as a liquidity layer for other projects
main idea ๐
The project uses a special ve(3,3) model which means people who lock their tokens for a long time get more rewards and voting power
So the model roughly works like this
๐ฆ It acts as a main place for trading and staking on the Sui network
๐ง It uses concentrated liquidity to make trades faster with less price slippage
๐ Users lock MMT tokens to get veMMT which gives them 100 percent of trading fees
๐ It has a launchpad to help new Sui projects start their own tokens
The total supply is 1 billion tokens and it is designed to keep the community and developers working together for a long time
In summary
โก๏ธ A primary liquidity hub for the Sui ecosystem
โก๏ธ Uses advanced Move language for high speed and low fees
โก๏ธ Rewards long term holders with protocol fees and bribes
โก๏ธ Built for both regular traders and big institutional users
recent news ๐ข
MMT price is currently following Bitcoin closely and fell twice as hard during the recent market dip
The project is preparing to migrate to a full ve(3,3) model to help reduce the token supply
There are new plans for a buyback program where the protocol uses its own money to buy MMT from the market
Investors are watching the token unlock schedule as early team members will get more tokens over the next few months
For those who want to research more about the project I am leaving the official website below ๐
https://momentum.finance
If you have any questions I would be happy to answer them friends ๐
โ ๏ธ Important Notes
๐ธ This is not a paid advertisement it is completely for informational purposes
๐ The cryptocurrency market is highly volatile
๐ง This post is not investment advice it is only for informational purposes
๐ Do not forget to do your own research and only invest amounts you can afford to lose