Mutuum Finance (MUTM), a DeFi-focused project, has launched its V1 protocol on the Sepolia testnet, marking a significant step towards becoming a functional platform. The launch allows users to test core features including liquidity pools, yield-bearing mtTokens, debt tokens, an automated liquidator bot, and support for ETH, USDT, LINK, and WBTC.
The project has simultaneously raised over $20 million in its ongoing presale from more than 18,800 unique investors, cementing its popularity. The presale has progressed through multiple phases, with the token price rising from $0.01 in Phase 1 to $0.04 in the current Phase 7. It is expected to reach $0.045 in Phase 8 and launch at $0.06.
Early investors are positioned for significant returns. An investment of $1,500 at the current $0.04 price would grow to $1,800 by Phase 8 ($0.045) and $2,250 at launch ($0.06). Long-term projections suggest potential for a 20x to 50x return, with the example given that a purchase today could yield a 50x ROI if MUTM reaches $2 in the future.
The testnet demonstrates the protocol's utility. Users can deposit assets like WBTC into liquidity pools to earn APYs between 8% and 12%. Borrowers can use assets like ETH as collateral to access liquidity without selling their holdings; for example, $7,500 in ETH collateral could unlock $5,000 in stablecoins at a 75% loan-to-value ratio.
To incentivize participation, Mutuum Finance is running a $100,000 giveaway with ten winners receiving $10,000 each, plus a daily leaderboard rewarding the top buyer with $500. The protocol also implements a buyback rewards system, where a portion of revenue from borrowing fees and interest spreads is used to buy back MUTM tokens for distribution to mtToken stakers.
The news contrasts MUTM's growth potential with that of Ripple (XRP), which is described as drifting lower within a descending channel, with bears in control. XRP's support is noted at $1.81, with a potential move towards $1.61 if rejected at the 20-day EMA of $1.97. The analysis suggests that while XRP offers stability, MUTM represents an opportunity for "explosive growth."
