What Is Mummy Finance (MMY)? Complete Guide & Review About Mummy Finance

What Is Mummy Finance (MMY)?

Mummy Finance is a swap and perpetual DEX that offers a variety of trading options and high liquidity for a wide range of blue chip crypto assets. Mummy Finance aims to become the solution for all traders who want to keep control of their capital and enjoy the best trading experience on Fantom Opera, with distinctive advantages: – Reduced Liquidation Risks – Low Costs – Simple Swaps.

Mummy Finance is a swap and perpetual DEX that offers a variety of trading options and high liquidity for a wide range of blue chip crypto assets. The platform represents a new type of decentralized exchange due to the continuous innovation promoted by its developers.

educe Liquidation Risks

An aggregate of high-quality price feeds determine when liquidations occur. This keeps positions safe from temporary wicks.

Save on Costs

Enter and exit positions with minimal spread and zero price impact. Get the optimal price without incurring additional costs.

Simple Swaps

Open positions through a simple swap interface. Conveniently swap from any supported asset into the position of your choice.

Tokenomics

MUMMY is the platform’s utility and governance token, holding the token unlocks a variety of benefits.

Token Information

Steps to purchase MMY can be found on the Buy page.

After staking MMY, you will receive a staked MMY token. Note that the balance for this will return your total staked amount including any esMMY tokens and Multiplier Points.

Staking

Staked MMY receives three types of rewards:

• Escrowed MMY
• Multiplier Points
• FTM Rewards

For more info on Escrowed MMY and Multiplier Points, please see the Rewards page.

To stake your MMY tokens, please visit the Earn page.

Supply

The max supply of MMY is 10,000,000.

The increase in circulating supply will vary depending on the number of tokens that get vested, and the number of tokens used for marketing/partnerships.

MMY allocations are:

1. 1.Initial liquidity (10%): 1,000,000 MMY + $50,000. Start price: $0.05
2. 2.The remaining 90% MMY will be converted to Escrowed MMY (esMMY) in 1 year:

• DAO fund (10%): 1,000,000 esMMY (Vesting in 1 year)
• The MUMMY NFT (15%): 1,500,000 esMMY (Vesting in 1 year)
• Dev Fund (10%): 1,000,000 esMMY (Vesting in 1 year)
• MLP Staker (35%): 3,500,000 esMMY (Vesting in 1 year)
• MMY & esMMY Staker (20%): 2,000,000 esMMY (Linear 1 year)

Fees Distribution

Fees collected by the platform in the form of the network’s native token — FTM are distributed as follows:

1. 1.60% fees for MLP Staker
2. 2.30% fees for MMY & esMMY Staker
3. 3.5% fees for Buyback MMY & Add liquidity MMY/USDC (DAO)
4. 4.5% fees for Buyback & Burn

Rewards

MMY Rewards provide benefits for long-term users of the protocol, these rewards come in the form of Escrowed MMY and Multiplier Points.

Compounding vs Claiming

There are two options for rewards on Earn: “Compound” and “Claim”.

Compounding will stake your pending Multiplier Points and Escrowed MMY rewards, this will increase the number of rewards you receive.

Claiming will transfer any pending Escrowed MMY rewards and FTM rewards to your wallet.

If you compound or stake your Escrowed MMY tokens, you can unstake them for vesting at any time later on.

Escrowed MMY

Escrowed MMY (esMMY) can be used in two ways:

1. 1.Staked for rewards similar to regular MMY tokens
2. 2.Vested to become actual MMY tokens over a period of one year

Each staked Escrowed MMY token will earn the same amount of Escrowed MMY and FTM rewards as a regular MMY token.

Note that Escrowed MMY (esMMY) is not meant to be transferrable unless you are doing a complete account transfer. The amount of MMY or MLP required to vest esMMY is unique per account and capped to the rewards received by that account. Please do not buy esMMY off the market or OTC as you will not be able to vest them.

Referrals

Get fee discounts and earn rebates through the MUMMY referral program.

How it works

To create a referral code:

• Go to the Referrals page
• Click on the Affiliates tab
• Create a referral code using any combination of letters, numbers, and underscores