The Mad Meerkat Finance staff has introduced plans to overtake its presence on Cronos Chain. Can the DeFi undertaking reclaim its former glory?
MM Finance to Launch Initiatives, Revamp Tokenomics
Following final 12 months’s foray into Polygon, Mad Meerkat Finance is refocusing its efforts on its homebase Cronos Chain. On Jan. 16, the staff revealed plans for Cronos, together with launching its MadMex perpetuals exchange, upgrading its ecosystem tokenomics and implementing an “MM Cash Market” for MM token holders.
In accordance with a Medium post, devs plan to implement their plans within the subsequent 2-3 weeks, beginning with the launch of MadMex Cronos within the subsequent a number of days.
“We’ve at all times been sturdy believers of Cronos, and our undertaking staff continues to carry Cronos token to this date, even within the depths of the bear, we’ve by no means doubted that Cronos has the flexibility, and will certainly exceed most different L1 ecosystems similar to AVAX, SOL, MATIC,” the staff mentioned. “And as one of many high tasks of Cronos, we take it upon us to constantly assist construct new worth for Cronos and its holders.”
True to its identify, Mad Meerkat, which originated as a Non-Fungible Token (NFT) undertaking on Ethereum, has persistently swung for the fences with bold proposals which have led to huge highs and bitter lows for the undertaking.
At factors, Mad Meerkat has secured high spots for Decentralized Finance (DeFi) protocols on each Cronos and Polygon.
Presently, Mad Meerkat is the fourth-ranked DeFi protocol on Cronos by way of Total Value Locked (TVL), after experiencing a 56% progress (to $23.2 million) up to now month, in line with DefiLlama. On Polygon, the protocol is ranked twenty sixth, with its TVL dropping by 18% up to now month to sit down at $6.5 million.
“Now, we perceive that there are these of you who now we have offended, or let down ultimately or different. We perceive it’s a tall order for us to request you to consider in us absolutely. That we don’t ask of you — as a substitute we ask of you to droop judgment and permit us to point out you the fruits of our labor for the previous couple of months,” the staff mentioned. “Let’s get excited collectively, and BUIDL to turn out to be the highest undertaking (on CMC!) as soon as once more to start with of a brand new bull.”
What Is Mad Meerkat Finance:
MM Finance has one of many largest ecosystems in Cronos and Polygon, providing a decentralized alternate, a yield optimizer, the Mad Meerkat NFTs, a undertaking launchpad, and extra. Furthermore, the platform is an automatic market maker, and the alternate lies on the heart of the ecosystem. As well as, MM Finance permits customers to earn passive earnings by staking crypto property in liquidity swimming pools.