Mutuum Finance presale 'smooth sailing'… Participation rises ahead of testnet launch ↑

Decentralized lending protocol Mutuum Finance said on the 29th that "participation in the ongoing token presale is increasing due to updates related to testnet development and audits."

Mutuum Finance is currently conducting the Phase 6 presale of its native token MUTM. The MUTM presale is organized in phases; as token demand increases, it automatically moves to the next phase. A fixed price per token is applied for each presale phase.

The MUTM presale began earlier this year. At that time, the fixed token price was 0.01 dollars. The token price in the current Phase 6 presale is 0.035 dollars. According to Mutuum Finance, the expected launch price of MUTM is 0.06 dollars.

MUTM's total issuance is 4 billion tokens, of which 1.82 billion tokens, about 45.5%, were allocated to the presale. Through the presale, about 800 million tokens have been sold to date.

Mutuum Finance raised 19 million dollars (about 28 billion won) through the presale this year. As of this date, about 18,200 investors have participated in the presale. Mutuum Finance said, "The pace of the presale has accelerated as whales (large investors) have increased participation," adding, "More than 95% of the allocation for the Phase 6 presale has been sold, entering the final stage."

The acceleration in the presale is due to the imminent launch of Mutuum Finance's testnet. Mutuum Finance will launch the V1 protocol on the Sepolia testnet within the year. The protocol supports features such as real-time liquidity pools, income-generating tokens mtToken, debt-tracking tokens, and liquidation bots. Ethereum (ETH) and Tether (USDT) will be used as supported assets on the Sepolia testnet.

Mutuum Finance is also focusing on blockchain security. A representative example is receiving a score of 90 out of 100 in CertiK's 'Token Scan' audit.

In addition, global web3 security firm Halborn Security is currently auditing Mutuum Finance's lending- and borrowing-related contracts. A Mutuum Finance representative said, "Halborn Security's audits are known for their strict standards," adding, "We are strengthening security measures to enable a safer deployment before launching the V1 protocol."

Mutuum Finance plans to provide P2C (Peer-to-Contract) and P2P (Peer-to-Peer) lending services simultaneously with the testnet launch. The P2C lending service is designed so that when users deposit assets they receive mtTokens, and when borrowers repay interest the value of mtTokens increases. According to Mutuum Finance, the P2P lending service offers both variable and fixed rate options, and loans are managed through loan-to-value (LTV) limits that are adjusted according to asset volatility.

Mutuum Finance also plans to introduce a dollar-based stablecoin. This stablecoin will be minted and burned according to the needs of the Mutuum Finance network. Stablecoin-related interest will be used to support protocol operations.

Mutuum Finance also plans to introduce a dollar-linked stablecoin. Layer 2 scaling to lower fees and increase lending speed is also planned. Mutuum Finance said, "A robust oracle system design is also part of these plans," adding, "Accurate price calculation is essential for liquidation and risk management, and the (oracle) system increases overall stability."

There is also a reward system to boost community participation. Mutuum Finance rewards the top daily community contributor with 500 dollars worth of MUTM. During the presale period, token purchases by card payment are also supported.