The Mad Meerkat Finance team has announced plans to overhaul its presence on Cronos Chain. Can the DeFi project reclaim its former glory?
MM Finance to Launch Projects, Revamp Tokenomics
Following last year’s foray into Polygon, Mad Meerkat Finance is refocusing its efforts on its homebase Cronos Chain. On Jan. 16, the team revealed plans for Cronos, including launching its MadMex perpetuals exchange, upgrading its ecosystem tokenomics and implementing an “MM Money Market” for MM token holders.
According to a Medium post, devs plan to implement their plans in the next 2-3 weeks, starting with the launch of MadMex Cronos in the next several days.
“We’ve always been strong believers of Cronos, and our project team continues to hold Cronos token to this date, even in the depths of the bear, we’ve never doubted that Cronos has the ability, and will definitely exceed most other L1 ecosystems such as AVAX, SOL, MATIC,” the team said. “And as one of the top projects of Cronos, we take it upon us to continuously help build new value for Cronos and its holders.”
True to its name, Mad Meerkat, which originated as a Non-Fungible Token (NFT) project on Ethereum, has consistently swung for the fences with ambitious proposals that have led to massive highs and bitter lows for the project.
At points, Mad Meerkat has secured top spots for Decentralized Finance (DeFi) protocols on both Cronos and Polygon.
Currently, Mad Meerkat is the fourth-ranked DeFi protocol on Cronos in terms of Total Value Locked (TVL), after experiencing a 56% growth (to $23.2 million) in the past month, according to DefiLlama. On Polygon, the protocol is ranked 26th, with its TVL dropping by 18% in the past month to sit at $6.5 million.
“Now, we understand that there are those of you who we have offended, or let down in some way or other. We understand it is a tall order for us to request you to believe in us fully. That we do not ask of you — instead we ask of you to suspend judgment and allow us to show you the fruits of our labor for the past couple of months,” the team said. “Let’s get excited together, and BUIDL to become the top project (on CMC!) once again in the beginning of a new bull.”
In the past 30 days, the price of $MMF (Cronos) has nearly doubled, while $MMF (Polygon) has fallen by nearly 38%. Both are more than 99% off their all-time highs achieved in 2022.
What Is Mad Meerkat Finance:
MM Finance has one of the largest ecosystems in Cronos and Polygon, offering a decentralized exchange, a yield optimizer, the Mad Meerkat NFTs, a project launchpad, and more. Moreover, the platform is an automated market maker, and the exchange lies at the center of the ecosystem. In addition, MM Finance enables users to earn passive income by staking crypto assets in liquidity pools.
Find more about Mad Meerkat here:
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