2021-7-6 16:09 |
The customizable lending markets solution Moma is set to launch its Initial DEX Offering (IDO) across the WeStarter and Bounce platforms on July 6. An Initial Exchange Offering (IEO) will also take place on Hotbit simultaneously.
MOMAT Token SaleFurther to private fundraising rounds with investment from SevenX Ventures, AU21, DFG Capital, and MXC, the Moma V1 smart contract audit and product beta MVP launch were completed successfully. Moma will now offer public sales of its native MOMAT token as it heads towards its mainnet launch later in the year.
MOMAT serves as the staking and governance token of the Moma protocol, with a total supply of 100 million tokens. 50% of the token distribution will be reserve for community incentives, with 13% retained by the team and advisors, 8% reserved for an ecosystem development fund, and 9% held in the DAO governance reserve. Token sales make up a total 20% of the supply.
Holders can vote to participate in the future development of the protocol, enjoy certain privileges from the use of the platform’s lending market or other services, and gain incentive rewards as a share of the fees generated by the network.
Using a multi-pronged approach, token sales on the IDO platforms WeStarter and Bounce will begin on July 6 at 11:00 AM UTC, coinciding with its IEO on Hotbit that is being held at the same time. Users will need to get whitelisted to qualify for the IDO, with the Bounce whitelisting process requiring participation in Moma’s Gleam event.
Trading of MOMAT will then commence on Uniswap, Hotbit, MXC, and Mdex from July 6 at 1:00 PM UTC, providing a variety of trading options to IDO and IEO participants upon conclusion of the token sales.
Understanding Moma ProtocolMoma Protocol aims to deliver greater liquidity and scalability to defi lending using its smart contract “factory” to produce, manage, accelerate, and aggregate lending markets. It will be deployed across the Ethereum and Polkadot ecosystems and integrated with the Chainlink Oracle.
Defi or asset management projects can use the Moma protocol factory to develop customizable launch or lending pools. Launch pools are designed for liquidity mining whereby projects can distribute governance tokens. Lending pools provide an over-collateralized loan structure to support lending and borrowing markets, functionally consistent with current leading lending platforms like Compound and Aave. The Moma protocol aggregator then offers an analyzer tool based on pool and market data, helping users to optimize their lending, borrowing, and liquidity mining strategies.
Setting itself apart from other defi lending market platforms, Moma also incorporates several risk management tools. Its crypto asset risk rating database provides a risk prompt when identifying any potential risks related to particular crypto assets added to a lending pool. Moma’s whistleblower mechanism incentivizes stakers to submit risk warnings, receiving rewards upon validation. Its reserve pool receives a portion of interest revenue from lending pools to form a fund pool, mobilized for compensation if losses occur.
Finally, Moma’s staking management pool is formed from pool builders who stake tokens to upgrade their pools. If errors occur in pool operation that leads to user losses, tokens in the staking management pool can compensate those affected users.
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