As the market seeks the best assets to invest in for the coming market cycle, one new crypto is taking attention away from Solana (SOL). The market capitalization of SOL is already quite significant, and the potential for exponential growth is lower than it was during the earlier market cycles. This has paved the way for Mutuum Finance (MUTM), which is currently being touted as the best cheap cryptocurrency to buy today to take the spotlight.
Solana (SOL) Finds Support Amid Market Fluctuations
Solana (SOL) has recently been seen dipping into the demand region of $118-$121 and is currently trying to find its footing after a significant sell-off. The sell-off momentum has slowed down significantly, and the market is ready to see a potential rise back to the $126-$130 region. This could also extend up to the $138-$145 region if the uptrend resumes. While the cryptocurrency has a relatively steady approach to growth, investors looking for the bigger ROI are looking elsewhere.
MUTM Presale: Gaining Early Advantage
MUTM was launched at $0.01 in Phase 1 and has risen to $0.04 in Phase 7. The token is set to be priced at $0.045 in Phase 8. New investors who buy the token at the current price have the chance of seeing their $2,000 investment rise to $2,250 in Phase 8. This means that they will have made $250 in profit even before the token is launched on the public market.
Once the token is launched at the expected price of $0.06, the $2,000 investment has the chance of rising to $3,000. This means that the investor will have made $1,000 in profit before the token is adopted by the public. Looking at the long-term prospects of the token, MUTM has the chance of rising by 25x to $1. This means that the $2,000 investment has the chance of rising to $50,000, reinforcing its position as the best cheap cryptocurrency to buy.
Mutuum Finance Protocol Goes Live
The Mutuum Finance Protocol is officially live on the Sepolia testnet. Users have the chance of accessing the application and its initial provisions. V1 protocol includes several key features. The first one is that depositors have the chance of receiving mtTokens. These are receipt tokens that have the capacity to earn interest. They also have the capacity to be staked for a higher reward.
The second one is that borrowers have the chance of receiving debt tokens. This shows that the application has full on-chain transparency. The third one is the automated liquidator bot meant to maintain the protocol’s health at all times. The testnet supports USDT, ETH, LINK, and WBTC.
Mutuum Finance Oracle
Mutuum Finance’s oracle system is meant to facilitate the delivery of accurate and real-time price information, thereby creating a stable lending and borrowing environment. For instance, if a user wants to deposit 10 ETH as collateral when the value of the asset is $3,000, the value of the collateral will be $30,000. By utilizing Chainlink’s decentralized pricing feeds, which collect pricing information from several major cryptocurrency exchanges, Mutuum Finance will allow the user to borrow the maximum safe value of the asset, which is about 70% or $21,000. When the price of the asset, in this case, ETH, gets volatile, the value of the collateral will shift too. In situations like this, the accuracy and timeliness of the asset valuation are very important. When the main Chainlink pricing feed is experiencing latency or is down, Mutuum Finance’s fallback system will be activated, thereby providing the necessary pricing information from alternative decentralized feeds, hence eliminating the possibility of delays and unfair liquidation.
How Dual Lending Works
The platform allows one to transform their idle crypto into productive capital while still benefiting from its potential upside. In essence, the platform’s protocol provides two main models of lending, namely, Pool-to-Contract (P2C) and Peer-to-Peer (P2P) lending. In P2C, users can deposit their crypto into a pool, which is then matched with lending demands via smart contracts. For instance, a user may deposit $7000 USDT into a pool, which mints 7,000 mtUSDT. The user can then earn an 8-12% APY on the mtUSDT , which translates to an earning of $560 to $840 in a year, as well as a share of fees charged on the platform in MUTM tokens as staking dividends.
For users wanting to customize their experience, the P2P model is also available. In P2P, users can lend to one another directly. For instance, a user can lend 2 ETH ($6,000) to another user who provides $9,000 in meme coin collateral at a negotiated 15% APY. This means a $900 yield in the first year.
As Solana continues to hold its ground, Mutuum Finance (MUTM) is gaining traction as it boasts of a 3,000% growth potential. MUTM, valued at $0.04, is the new crypto asset to watch with a live DeFi lending platform and the best cheap cryptocurrency to buy, according to market analysts.
For more information about Mutuum Finance (MUTM) visit the links below:
Website: https://mutuum.com/
Linktree: https://linktr.ee/mutuumfinance
Source: https://www.cryptopolitan.com/why-mutuum-finance-mutm-is-stealing-the-spotlight-from-solana-sol-analysts-project-2500-growth/
