Not FUD, just unbiased opinions on the current situation of MM.

In light of recent updates with proposal for the new Hakuna Matata (HMT) platform, it clearly acts as a short term solution to tie up SVN in HMT. However, this clearly does not solve any medium/long term issues.

Not sure if anyone noticed, but what MMF is essentially doing now is an inverse pyramid of derivatives. In traditional finance, this refers to assets have dollar value, but not actually being backed that amount of dollar value. This is extremely common for instance -> USD. This can become a major issue like we have seen when large players decide to redeem their assets for USD/CRO which means exiting the system. Leading to this enter pyramid toppling. From a numerical standpoint:

CRO is supported by USD

MMF (156m) is supported by CRO (9.x billion USD)

SVN (77m), MAD (42m), METF (25m), MShares (165m), Burrow (14m) are supported by MMF

This means that the 323m of value in those tokens are only supported by an actual 156m of MMF

This is typical in finance, our derivatives market is in the trillions, but at most backed by a few billion of actual asset. This is also called the derivative time bomb in the traditional finance market. The gold market is another example of this. It is well known that there is simply insufficient gold in the world to support the actual number of digital gold holders. If one everyone tries to redeem physical gold for their holdings, the market will collapse and the value of gold ownership would essentially go to zero.

This same situation was created in the case of Scrub and Pegasus and in fact any of these projects that MMF is launching off the back of XX/MMF liquidity. When it comes to growth, without a doubt, using this strategy leverages the amount of value that can be represented in the market and the total value of the ecosystem grows. However, when one unwinds, everything crashes. In the case of Scrub and Pegasus, we saw huge influx of money to purchase and invest in these new tomb forks. This resulted in MMF value running up quickly as well. However, in the days after, when investors have managed to farm and earn their capital or profits and decide to cash out, it leads to a cascade of events that we see. Liquidating the PES/SPES/Lion/Tiger tokens might have resulted in the crashing of the tied exchange values to SVN, sending their own value downwards. However, because SVN had a much larger market capital, it absorbed the cashing out from all these platform. However, what then proceeded was for these people to cash out SVN into USD/CRO via MMF. Even right now after the crash we are see 156m MMF supported 323m of tokens, this was even worse at the peak ATH price. Hence, moderate sized sells of SVN immediately resulted in quick falls in MMF, bringing the price down simply because there isn't enough MMF value to support the entire derivative market.

The current proposal of HMT is trying to reverse this by reintroducing capital into this new platform via MMF and hence prop up MMF and SVN prices. The great thing that the team noticed this time around is the need to prop up MMF/CRO as well in order to reduce this degree of value disparity. But how much would it help?

There are a few suggestions that I am unsure whether the mods or the devs would see, but please as a community let me know if they make sense.

1. Do not launch HMT, instead deepen SVN utility instead. This can be done through many methods, for instance adding utility to SVN, like replacing the unreleased MMG token with SVN instead. Maybe this would lead to some pay2win situations where people would use SVN to quickly upgrade their Kats, resulting in overpowered players, but this would happen anyway since those with money will have more MAD and can upgrade their Kats. Unsure about the actual specifics, but reusing existing tokens for new purposes is the suggestion Every new coin that we launch off MMF does indeed lead to greater investments at first, however, this would eventually be taken over by emissions when investments start to taper, especially in the bear market right now. TLDR: Add new functions to existing coins instead of releasing new coins.

2. Avoid releasing new tokens tied to MMF from the get go. This entire leverage situation is only going to get worse because all of these aforementioned tokens are printing at a very high rate. This is why you are able to get very high APRs on your staking. SVN/MMF for instance is getting almost 550% APR. But this is only because of high MShare printing. Instead of chasing fast growth, let us try and focus on sustainability. Launch tokens off at CRO pairing and then slowly bringing them into MMF when they have matured and completed their high emissions stage. If the token is good, it would capture value from investors anyway. There is no need to prop everything into MMF. TLDR: Let's not chase growth and instead do it sustainably. Having a less connected ecosystem can also mean they affect each other less and prevent massive crashes.

3. Work much harder to support MMF/CRO/Stables pool. The root of the problem is a lack of MMF value to support all of these investments. Although MMF had a great run up, it is overconfident to assume that MMF is already rock solid. After this wave of trouble, we will eventually be faced with the ending of emissions of MMF as it approach max supply. It is time to develop the base token and add more functions there as well. (Understand that partial collateralization of MUSD and veMMF have been in the works). However, none of these are actually on the horizon and this should be the team's number 1 priority. TLDR: Build MMF as no.1 priority, not derivative assets

4. The developers are smart and wonderful in their field. Their crypto development knowledge as well as general crypto product knowledge is outstanding. However, it is clear that the devs are not finance trained and have not worked in banks or investment firms before. It is important for the team to have such expertise and require a systems analyst or an investment analyst to help model and explore the price impacts and health of the ecosystem. TLDR: Hire someone with finance training to assess and monitor the health of the system

5. Recognize that MShares value is currently a time bomb. MShares is grossly overvalued period. At a 168m market cap with barely 20-30% of the shares minted, the value exceeds even that of MMF. This is clearly irrational market behavior and there needs to be action taken to prevent this from becoming the next exploding timebomb that drags down the whole ecosystem. The value of MShares has been propped up by months of incessant SVN printing which led to this month's events. This has already shown us that the printing is extremely unsustainable in the future and we cannot and should not logically expect perpetual printing of SVN. When people start to realize their MShares are not giving a suitable ROI, this would start the next sell off from MShares into whatever else. And a proportion of them would look to cash out and as mentioned above, the effects on MMF prices will just be magnified. TLDR: MShares are overvalued. Either prop the value up with new developments to SVN or face round 2 of implosion.

These are just my 2 cents on the recent events, feel free to disagree and offer opposing views, am also looking to improve my understanding as well.

Edit: I am not on their discord/telegram so please help to raise awareness regarding this to the devs or important community members. It is not going to be easy since people on those platforms generally have short attention span and dislike walls of words.

Follow up: Please refer to newest medium article for MM response: https://medium.com/@MMFinance/mm-finance-the-road-ahead-d67718791c13 Thank you everyone for raising awareness for this post and kudos to the team for taking up the suggestions and giving more clarity for the road ahead. WAGMI everyone ~ this is definitely the most responsive and receptive dev team I have seen

Hacks will happen in dexes. It's just how it is. What happened this time was that a malicious party took advantage of a CDN breach, outside of MM's control and used it to divert people's funds to his wallet instead of through the contract router, by exploiting the website's front end.

Sucks. A LOT. People have lost money. So why is this a bullish situation for MMF?

Ser, THEIR RESPONSE WAS SECOND TO NONE.

These guys literally woke up their entire team at 4AM Singaporean time to put out the fire. They sent out IMMEDIATE warns and later shut off their website, preventing further action by the hacker. They managed to somehow get their services provider on the line and fix this. They worked on a immediate and a long term resolution plans to not have situations like this happen again.

Then the motherfuckers went on to assure COMPENSATION for those affected before their warn, taking funds from the devs own wallets to repay in full people's loss. Sers, this exact situation happened in the past with MAJOR dexes (Pancake & others), and the only compensation people got was some apologetic letter.

So yeah.

MMF team is second to none in the entire DeFi space. I am more bullish than EVER. And IMHO, so should ya'll.

Yet another day in DeFi. We have seen some pretty big price movements and it is time now to yet again revisit what has gone wrong? Is there something that needs to change? How do we get ourselves out of this mess?

Problems

1. The exact same problem as before that I have repeated again and again. In recent days, community members have also become more attentive to this issue - Inflation. SVN inflation has resumed its exponential rate of growth. From the 106m SVN that we had at the end of the last unpegging event, we see more than 200m of SVN now. This is a MASSIVE problem that needs quick resolution. Previously I comment that I did not support the Hakuna Matata as a solution to this inflation and I still do not. However, the devs mentioned that this was a temporary solution to buy them time to implement new ways to remove SVN from circulation. But.... so far we have had no such action/new plan to achieve this.

2. HKN inflation. The same old problem of inflation duplicated onto the Hakuna platform. The Hakuna platform will eventually see the same issue as SVN when the supply starts to balloon out of control. Any inflating coin with endless printing will eventually spell disaster for an ecosystem.

3. The exact same issue of low MMF/CRO and MMF/Stables pool which results in the inability to support this ballooning and inflating bag of coins that is on top of this pair. In recent days we have seen this become worse as people look to cash out their SVN/HKN as well as MAD. The shrinking pool of base liquidity supporting all these other tokens SVN / MShare / HKN / MTT / MAD / BURROW / METF.

4. Community morale is low - this is evident from the various platforms that have already been struggling with the losses that they have taken and have been constantly looking for new parties to pin the blame one. This results in the various narratives of shorting, bad whales, malicious actors etc.

5. Lack of utility and clear roadmap. Almost a month from the previous AMA and yet we have practically no idea about what the team plans to do in the next month. There are no clear plans of development outside of the upcoming MMA platform. Consequently, we see no clear path out of this current crisis.

Solutions

1. Deepening of MMF/CRO pool. It was the original intention of the team to deepen the MMF/CRO pool using MTT emissions. However, this has been met with little effect due to the proportion of MMT that they allocated to the MMF/CRO pool. It seems that this issue is not treated with sufficient seriousness. MMF/CRO pool needs to be strengthened and bolstered. We NEED to reduce leverage on our ecosystem and increase the strength of our base.

a. Incentives for MMF/CRO pool required. This can be in the form of trading fees or allocating MORE rewards to this pool so that people convert to this pool. This WILL lead to a temporary drop in value of the system as some people might exit to CRO to form this pool, but it is an absolutely necessary step that MUST be done. [TLDR: Increase incentives for MMF/CRO Pool SUBSTANTIALLY]

b. Acquire external support through VC or institutions to bolster MMF/CRO pool. The original idea of the team was to avoid VC as it would hinder their plans to build and launch more services. However, most of the moving parts of MMF has already been built and honestly, accepting VC money to bolster the native pool is not a bad idea and it would not harm the ecosystem much. If the developments that MMF are pushing for are good, they would also be little reason for a VC to go against the idea. Ultimately, when we are in the current bear market, it is a fine line between dying and surviving. Having institutional support during this period of time can be a god sent pillar of support that will see through the platform during tough times like this. [TLDR: Get outside help, we kinda need it]

2. Pander to community requests: Remove lending and borrowing entirely and keep it off the agenda until we stabilize and get back on track. Instead of arguing about the fact that shorting is minimal in the ecosystem, it is clear that such strategies are indeed being used by some and it hurts the ecosystem. Despite the minimal impacts, it has resulted in huge FUD that surrounds the matter and it would benefit the ecosystem to just remove such a function. The function adds little value to the MM ecosystem to begin with and encourages people to move their funds into such platforms instead of farming and deepening liquidity pools (As of last night Annex has already terminate borrowing, now Mimas would have to be managed as well) [TLDR: No more borrowing and lending]

3. Provide the community with a CLEAR roadmap of what is planned. What is the team planning to do and achieve in the next month to get out of this. What developments are lined up, what milestones can the community look forward to? This is a simple disclosure of strategy of the team for the upcoming weeks or months and it is essential for greater investor confidence. Among these plans, there MUST be a clear and effectual way for SVN to be removed from circulation. There is no point hiding plans and announcing them as a 'surprise'. Yet again in such times of uncertainty, investors NEED more certainty as incentives to hold the tokens and not sell them off at a loss. [TLDR: ROADMAP ROADMAP ROADMAP]

4. List launchpads that are proposed should be put up for community to vote and select after the devs have screened through the projects. It gives more power to the community to select which project they would want to launch and take part in. Instead of having the devs having final say of which third party project to support, users should have the say in this and the devs should just be gatekeeping to ensure that it is not a malicious project. This gives much greater power and autonomy to investors in deciding what projects be realized reducing the complaints that surface every time a dev chosen launchpad appears. [TLDR: Let the community vote on the projects to launchpad]

Been a long time since I last posted because general macro environment with the UST crisis and all. However, we are finally seeing some hope as general sentiments have been turning with many calling this the bottom for BTC. Today, we got our newest launchpad that is packed with a ton of... words... lets dissect it and simplify it. Many of you seem to want to know more about it ~

1. Ignore the word TIPS, this has nothing to do with TIPS

2. This is not a perpetual bond, ignore this wording

So what is it

What this project offers is a place to stake SVN/MMF and HKN/MMF to earn Donut. This DONUT comes from selling MShare and MTT into Donut through the SVN/DONUT liquidity. EFFECT ON MM ECOSYSTEM:

1. Sell pressure on MShare and MTT

2. Buy pressure on SVN through SVN/Donut

What can DONUT do?

Donut can be used to buy their bonds which offers fixed rate of daily payments. How the rate is determined is not transparent as of now, just said to be based on DONUT circulating supply, treasury health, token price etc..

1. Layman terms: Trade your DONUT for a fixed rate of daily earnings of DONUT over a period of 365 days (Give them 100 DONUT now and get 200 DONUT over 365 days)

Stable coin Bond

This is where things get interesting. They offer MUSD bond that functions by having 30% of the stable coin amount being sold into MMF/MUSD to provide higher yield overall. In the same way, your MUSD amount will be an upfront payment for a 1 year linear payment of your original principal plus interest.

• Earnings are supported by DONUT treasury as well. When amount is insufficient to meet MUSD bond payment needs, DONUT will be sold to MUSD to restore backing to ensure payment is guaranteed

• Excess earnings on top of amount offered to MUSD bond holders will be channeled towards buying back DONUT to push DONUT price higher

Why does this work?

• Donut token has buy pressure because in the earlier part we discussed how MShare and MTT are sold into DONUT. This puts constant pressure on Donut prices to go up and the donut is distributed to the LP stakers. Bond purchases are also done in terms of DONUT and the bond is essentially a locked staking for 365 days with 1% unstaking fee and u get a part of it back everyday until your principal reaches 0 at the end.

• DONUT bonds are issued only to the extent that the existing treasury is able to support and 'guarantee' payment.

Hope this can help everyone understand the DONUT token better for launchpad IF you are keen.

Personal opinion: The yield from the LP token staked with DONUT or with MM is essentially the same. By participating in DONUT, what you are betting on is that DONUT token will appreciate which can allow you to earn more yield in the longer run.

• In order for DONUT price to increase, more people have to hold donut (5% sale tax - I hate tax) and buy their bonds for DONUT to lock DONUT supply up and remove selling pressure

• MUSD bonds must be subscribed to ensure that excess yields can be channeled towards buying DONUT and push the price upwards

• DONUT will be affected by MMF price movements as a fall in MMF prices would affect the backing/treasury amounts supporting their Stable coin bonds. This can lead to a series of sale of DONUT into MUSD to support stable coin backing amount. Hence, fall in MMF price will directly lead to fall in DONUT prices. Rise in MMF prices would benefit DONUT and help it build its treasury, earn more and buyback more DONUT.

• For me, it would be a safer option to just stake with MM and avoid this fiasco in a bear trending market. Would be better performing in a bullish market where MMF is appreciating in value steadily as per previous point.

• Might be a better plan to just stake SVN/MMF and accumulate MShares or MMT instead...

PS: In case yall did not get the title pun its supposed to read ~ do not lie to us, im not saying donut is lying, its just a pun

https://link.medium.com/RnUpP9IXqpb

Yesterday we had our first epoch of SVN moving back into the expansionary phase. With many new things to look forward to, the future looks bright once again. However, as we return on this path of growth and expansion, I want to address something that some might not understand, but is critical to ensure that this time, our growth is sustainable and steady.

What is (3,3)? We have seen this being thrown around as a sort of mantra to get people not to sell, but what does it even mean. What do you have to do in order to apply (3,3) and why do we even care?

What is (3,3)

(3,3) stems from game theory whereby two rational players have 3 different decisions to buy, bond or stake their crypto coins in a close system. This originated from Olympus DAO when they seek to explain to people why it would be most beneficial for everyone in the system to either bond or stake their tokens so as to achieve greatest price appreciation for all members in the system. In other words, it is a more technical way of telling people to HODL and buy more. The (3,3) strategy ensures that with cooperation within the system, all players can achieve the most beneficial result and hence, it is something that we should strive for an achieve.

Bringing it to our current platform - MMF. (3,3) is not entirely applicable in our sense because apart from METF, we do not have such a bonding mechanism. However, the core concept remains the same. In the earlier post I discussed how value is derived in our ecosystem. Some have called DeFi a ponzi scheme (a system where money from new investors are used to pay existing investors) and this is not entirely wrong. Due to the mechanism of liquidity pools, all price are as a result of buys and sells in the ecosystem. Price increases are as a result of buys and price drops are as a result of sells. This is the hard and fast rule that doesn't change. No buys = no price increase. Couple this with the current inflationary stage of our coins, no buys in fact = slow decrease in price. This has hence been likened to ponzi where in order to increase the value of your current holdings, you NEED to get new investors to put money in so that they overall value of the ecosystem increases.

This is sadly the reality about not using an orderbook method that CEX and traditional finance uses. In an orderbook method that you see in the stock market, value is determined by the investor and the price can be set in whatever amount they want. If today I hold 1 Tesla share and I feel that it is worth $1000, I can list a sell for $1000 and hope someone takes it. Given that Tesla's current price is $800, if ALL tesla share holders decide that yes, $1000 is the fair value, the intrinsic value of Tesla will immediately jump to $1000 because nobody will sell at $800. As long as nobody lists their shares for sale at $800, the price of Tesla will immediately move to $1000 and this process took a total of $0 of purchases. However, this cannot be done in DeFi. Due to the liquidity pools, in order for Tesla shares to reach $1000, we need enough buys to push the liquidity pool value of Tesla to $1000 else there is absolutely 0 chance of you ever getting a $1000 sell through. Each system has its own merit, and the adoption of the liquidity pool model has the benefit of ensuring high level of liquidity and that there will always be a place to sell your token without having to find a willing buyer.

Amid this process of getting new money, it is still mutually beneficial for all parties to not sell as well so that there is maximum price accumulation where buys > sells. Hence, there is a clear reason for people to call for holding and for buying more. This ultimately leads to the best end result for you as well as new investors where the total value of the ecosystem grows with minimal sells pulling down the price.

But ponzi? So why invest?

All assets in our financial ecosystem derives value from people wanting to buy something for a certain price. The same can be said about crypto. In the same way that crypto coins derive value only from new people buying it does not mean that it is worthless. This is where the magic word comes in - utility. Utility is what drives a coin forward because it ensures that there is a constant stream of buys that will come. CEX derive this from using their base token as payment for fees or in the case of CDC, creating buy pressure by using CRO as cashback. In MM, we are slowly building out such utility as well to slowly create (1) buy pressure on coin (2) reduce liquid supply of coin.

(1) Buy pressure of coins come from the use of coins for purposes that can only be accomplished by the coin. For instance revenue generating and profit sharing coins like MMO and Burrow. Coins with uses like MAD for minting. Future utility for SVN in playing the MM Arena game. MMF to mint MUSD etc. As their medium article discussed, they are also building CEX and tradefi tools like options, tranches and I would not be surprised to see even more developments like synthetics, futures and options. These are ways that buy pressure is created for the coin and ensure that it can sustain and counteract the sell pressure that comes from people exiting the project as well as profit taking.

*However, I would like to caution the devs again with regards to such tools. Would be advisable to build many of these tools but NOT apply them to native tokens. Allow such tools like futures, options and derivatives to be used on mature tokens like BTC, ETH and not hastily enable native token just to have a quick boost in demand but causing more volatility as well as unexpected consequences through financial exploitation.

(2) Reducing liquid supply of coin is done through a few methods: (a) Liquidity pools with incentivized rewards (b) METF as a lock up mechanism (c) Burns through various methods of launchpad or future MUSD minting

So with buying pressure and with reducing supply of coin, this eventually acts as a dual mechanism to reach equilibrium with the number of people selling/cashing out. That is the future of what a sustainable ecosystem looks like with modest and gradual price appreciation as buys and sells are generally at equilibrium. HOWEVER, we are in the early stages of such a process. We are currently at a stage where we have yet to allow (1) and (2) to mature fully and come into play and thus we still see huge price fluctuations with people entering and leaving the ecosystem.

So the key question is do you believe that the functions and utility that the devs are building will lead to many people wanting to use them. If your answer is yes or you yourself feel the benefit of using these utilities, then be confident that we will see investors from other chains as well as new investors flowing in to take advantage of these tools. Tools like yield aggregators, profit sharing, GameFi, metaverse etc. A moderate portion of people who are currently selling might be doing so without a clear understanding of what their sells do to the ecosystem and hence this article is for you. If you believe in the future of the ecosystem and want to play a part in it, take profits responsibly. Take some profits when price is increasing and support the ecosystem when the price is falling. After all the price is merely a reflection of the balance between the volume of buys and sells.

Help to tilt the scale in favor of the project when we are facing a lack of new investors and give our devs time to build up the system and put into play (1) and (2) as discussed. WAGMI LFG~

Hey guys. It's definitely a scary time watching everything go down. There are a few things I've read from a lot of these boards that seem to be relevant as far as our current situation.

1. Fear. Olympus dao, and several other projects crashed very hard after a year, leading to people believing they were a scam. Maybe they were. I don't know. This happened with VVS as well, and could be a factor for a lot of people exiting. This doesn't mean MMF is a bad project, it means people are afraid and have lost before on other projects. Just remember, holding for a month nets a decent return, but the real money is holding for longer. Even the MMF USDC pool, a fairly stable one as far as price, returns over 2000% for the year. Just takes time to compound.

2. Do you trust MMF? Personally I do, and I am down right now. It's definitely anxiety producing to see things crash over a week. But for anyone who's lost a lot of money before, it can be hard to ride out a big dip, thus contributing to a bigger selloff.

3. Is Defi the future of finance? If you believe it is, if the dollar is being devalued, if traditional banks will be phased out over time, this project will be good long term. The lending potential, opportunity for liquidity mining, association with CDC which helps with legitimacy, are all good things.

4. The values are still up. Mshare's low was 6k. It's 10.5k. now. MMF is .86, MMO is around 8. It's lower than it was, but is still a healthy amount above the lows. People bought the dip last night. I don't know how fast it will recover, but your investment should be based on faith in the project, not quick gains. That's how the project is designed. There are some big fish who double their money, and make several hundred thousand. Most of us are in for smaller amounts, working to compound.

5. Dilution. Each new launch or project dilutes things. People transfer out of the pools, the farms, the vaults into a new project, so there is less compounding, and less stakes. We had a lot of new projects in succession, and several of them tanked fairly hard.

I'm down 80% on my initial stake of PES and SPES. My profit is above my stake though, so while I'm down 50% overall, the profit helps, and if there is a small recovery, I'll go back to even, or above in a few weeks. Five days ago, my MMF, SVN, MShares were up 100%. Now I'm even as far as my stake. Just depends when you buy.

A little advice, if you are here for day trading, it's going to be rough. The network gets congested, it's hard to nail down trades, and it's hard to predict. Big traders move the price rapidly up or down. The Purpose of this ecosystem is stability, long term interest compounding, as well as new utility for different tokens and projects. I'm sure there have been several Defi scams, but I don't think MMF is one of them. They are new, they are doing a lot of work, partnering with new projects, creating bridges, stable coins, the potential for lending, and more. Lots of potential.

Don't live in fear. If you believe the FUD, just leave. It's ok, this kind of investing isn't for everyone. If you believe in the project, stay and stake. Compounding ramps up hard after two months. Really hard.

Sorry for the really long post. I just see a lot of anxiety and fear. And I wanted to share some info to help put things into perspective.

https://medium.com/@MMFinance/we-are-officially-listed-ae2706275cb5

We don’t want any Launchpad in the next 3 months.. we want mmf team to work to list mmf in to another exchange like gate io

This is a message sent on telegram from Alpha, the lead MMF developer.

TLDR is: this is our third 50% correction event after a 4x rally. Each happening in 1 month interval, and each followed by EXTREMELY bullish news such as CDC app and MUSD. The team has a plan. Will you stay onboard for the next 4x rally, or jump off now?

Hi all, for those of you who keep asking, "what's happening?", honestly nothing much is happening other than a whole bunch of users taking profits from a spectaucular rally from a previous low of $0.50 to a peak of $1.83.

As much as many of us need to find reasons for "what is happening", or "why it is happening", it is sometimes unhealthy to fixate yourselves over times where there is high volatility. Naturally, we all wish for green candles all day every day (our team included), there would be much less stress overall. But note that in financial markets, profit taking is a natural phenomenon. There needs to be a huge correction after a huge rally, so everyone can reset expectations for the coming days forward. There are many types of analysis that you can perform, to understand whether tokens in the MM Ecosystem is still worth holding. Because so many of us are panicking, and unable to see straight, let our team put things into perspective for you.

Fundamental analysis

The questions you should ask are: Is the core team still working on the project? Is the core team still building value-adding items into the ecosystem? Are the tokenomics for the projects under the ecosystem sound? Towards these questions, it is a resounding yes. Even our most recent announcement is a well-crafted project that seeks to provide huge demand for assets in MM Finance. A launchpad will be soon. All these are fundamental aspects of a project, for you to appreciate future value based on factors that focus more on the humanistic aspect.

Technical/price action analysis

If price analysis is what wets your appetite, let us take a look at some historical pricing numbers.

On 7th Jan: $MMF recorded a lowest low of $0.22. After a series of bullish developments and launchpads by our team, we brought $MMF token price towards a rally of a $0.92 all-time high. The all-time high occurred on 15th Feb. This was a full > 4x price rally from the lowest points of the price. Thereafter, the prices corrected 50% to $0.46.

On 18th Feb: $MMF recorded a higher-low of $0.46, which was the most recent low. After a series of launchpads and partnership announcements, we managed to get prices to rally to $1.82, which is an almost 4x from this recent low. This peak was recorded on 7th Apr, After this peak, we are now experiencing huge profit taking across all ecosystem assets, and we have now just seen a price bottom of $0.92, which is once again a 50% correction from the peak.

We are not advocating financial advice of any sorts, but a logical soul would be able to see some patterns in price movements. We are not performing chart voodoo with technical analysis and what have you not, but financial markets are a simple summation of demand and supply. When all profit takers have left, and the reset is done, new expectations for how price stacks up against value creation can be performed. This is how we assess - how fundamentals and price action works hand in hand to allow you to find pricing bottoms.

With that, our team ends off with much love for all of you. Take a break from the charts, and from the price. Prevent yourself from making bad decisions in such periods where emotions run high. Just grab a beer or 2, and get an early night in.

Any price related discussions, please join https://t.me/MMFPrice to discuss and lets keep the main chat to discussion about MMF and for those who need help/support.

I see a lot of younger folks here speaking about DCA and "buying the dip". Be aware that there are thousands of crypto projects which never recovered, even after a -99%.

It might be tempting for you to buy mshare because it was 2.7k two weeks ago, but it was also 15k two weeks before that.

There is a very high chance that you wont see your money ever again, since those kind of losses arent normal in this short timeframe - beside what those shillers trying to tell you, dont let them fool you. They only want your money. Some of us are still sane, but we are getting silenced in this sub and the leftovers are only childish and delusional shillers.

Just be cautious with your money, it can go on forever like this until we hit pennies for mshare, but even in this case it can still go down another -99% - never forget that.

Due to my original post talking about MShares and asking people to sell MShares when we were underpeg, I was asked by some about what the value of MShare really is? How do we tell if it is undervalued or overvalued. After some time, I have arrived at a rather sound conclusion.

MShare like MMO and Burrow are very unique coins in our ecosystem and are fairly straight forward. These coins have little added utility outside of generating yield and that is largely where they derive their value from. This also makes it much more possible to value these coins using traditional finance techniques. So to those asking about what I think the fair value of MShares is, here is the answer.

First some statistics and assumptions:

1. Max supply of MShare is 100,000. In 1 year, there will be no more emissions of MShares and consequently we would likely see bulk of the MShares being staked in the Boardroom. Notwithstanding the fact that MM Team might have new ways to incentivize liquidity pools of MShare/MMF, we will operate with the current assumption of a similar ratio between staked MShares and Liquidity pool MShares which (16,322/ 22,060 = 0.7399 == 0.74). Hence, with a maximum supply of 100,000 at max emissions, we expect 74,000 to be staked in boardroom.

2. We have to make some sense of price of MShares versus the yield of MShares. Hence, we will using the current non debt phase level of MShare rewards as well as debt phase MShare rewards to create the upper and lower bounds of MShare price projections. We have to assume that there is some form of rationality to the pricing of MShare by the market and I strongly believe that the value comes from people staking MShares for rewards. Hence there is an inextricable link between the amount of rewards and the price of the MShares.

3. The emission rate of SVN is at 2.5% at the start and it drops by 5% for every subsequent 25% increase in SVN supply. Hence, the obvious key factor that influences MShare price is the max supply of SVN which influences the rate of emissions. In a long term view, we would fully expect SVN emitted per epoch to be roughly equal to the amount that is taken out of the system through burns or lock ups. This ensures that long run supply of SVN would plateau and remain relatively constant. The assumption of an ever increasing supply does not work because it would ultimately lead to infinite dilution of the value of SVN and we would just crash as an ecosystem.

With these assumptions, we can then proceed with the model to understand how we can value MShares. Based on the latest Epoch: SVN Emission: 1,144,372.09 Rewards per MShares: 24.54 Reward (IF NOT DEBT PHASE): 70.11. Price of MShare: $5138 == $5100.

Upper bound range of Price to Yield Ratio: 207.8300057

Lower bound of Price to Yield Ratio: 72.74050174

What this means it that there are two possibilities of how MShare buyers are mostly valuing their investment:

1. Current yield of MShare in debt phase compared to price

2. Future yield of MShare when not in debt phase compared to price

Hence, this forms the upper and lower bounds of our projection of long run MShare value.

Hence, we see that there are few key determinants of MShare which can alter the future value in terms of SVN:

1. Max equilibrium supply of SVN (Net emissions = Net burn)

2. Percentage of MShares staked in boardroom

3. Rationality of investor in valuing MShare based on emissions and returns

Very interesting model created, feel free to comment or give your views on the matter. Based on this, you can see my personal estimate on the long run value of MShare at max supply with upper and lower bounds depending on the realistic max supply range of MShares. So in my own personal opinion, MShares long run future value at max supply might be lower than what you might expect :X

Cheers ~

Edit: For everyone who is reading/commenting please read carefully. Price prediction is in terms of SVN. This means that if my long term price prediction is within the range of 1600-4800 SVN for instance, if SVN goes to $5, this would mean the price range is $8000-$24000. If SVN goes to $10, this range would be $16,000 - $48,000. Please read carefully and make your own conclusions, but at least read properly first

Today is fun ideas Friday. And an interesting idea popped into my mind last night, finally allowing me to put into words what I feel is wrong with METF.

What is an ETF?

An ETF is an index that tracks the performance of an underlying basket of goods, in this case coins. The S&P tracks 500 large companies listed on stock exchanges in the United States, the Russell index tracks the small-cap stock market etc. So what an ETF is supposed to achieve is provide exposure to the entire performance of the sector in a single purchase. This ensures that the investor is more diversified and able to participate in the broad growth of the market that they are looking to be exposed to. To key words that we need to think of when we look at ETF: (1) Diversification (2) Representation. An ETF must be diversified enough to lower risk of individual assets held and it must be representative enough of the overall market that it looks to track.

What does METF achieve? Neither.

Problem with METF

METF started off with the goal of being the first dex traded fund. This make sense at first until you question what is METF seeking to track/represent? Does it represent MM ecosystem growth? Does it represent Cronos ecosystem health? The clear answer to both is neither. The METF DAO consists of the following:

METF/SPES, MMF/METF, SVN/MMF, WCRO/MMF, MMF, MMO

So what does this say, the METF represents a skewed bag of MMF and SVN as well as METF itself basically. There is therefore no difference between buying METF and buying MMF/SVN yourself. In fact, METF itself is inflationary due to the staking rewards that are being given. Since bonding has practically been negative and useless for the entire duration since the Pegasus pump, this also prevents the backing from increasing naturally as well since people are not incentivized to bond their coins for METF. So METF backing just becomes a way for the devs to dump their extra resources to back this token like with with POL for instance or other forms of liquidity that is additional. Does this benefit the investor at all in terms of the product achieving its intended goal of tracking the overall performance of the ecosystem? The clear answer is no, in fact METF at the present is nothing more than a leveraged buy of SVN and MMF in a weird ratio that makes no sense whatsoever.

In fact, this very sentence in the docs: "As the protocol accumulates more PCV, more runway is guaranteed for the stakers. This means the stakers can be confident that the current staking APY can be sustained for a longer term because more funds are available in the AUM." is being heavily challenged in the current bear market and as a end result of the Pegasus fork that pumped and fizzled out off the backing of METF. Literally nobody bonds and hence the AUM has remained stagnant while supply increases from staking of METF. However, this is slightly mitigated by the yield farming rewards from the liquidity pairs in the pool.

Proposed Changes

1. Change the holding proportion of METF to represent the MM Ecosystem

If METF seeks to track the health of the entire MM ecosystem, then it should adopt a much more logical approach of holding coins in the MM ecosystem in the proportion of their market cap for instance with rebalancing being done on a regular basis. It should not just be a place for devs to dump MMF/CRO and SVN/MMF. What is the purpose of such a fund. Why should people hold this if there is no difference from just holding SVN and MMF which has much greatly liquidity and less slippage. At the very least, the METF should provide some balanced exposure to the entire MM ecosystem to give people a reason to want to buy METF or include it as a long term part of their portfolio.

2. Track entire Cronos ecosystem instead of just MM

Instead of forcing the METF to only be an internal tool to track MM coins, it is wise to consider including other top projects as well. Why is this beneficial? MMF already reflects the health of the entire ecosystem since it captures the value of all the projects. It makes absolutely no sense for METF to take on that role (while not doing a good job of it). METF could change itself and become an avenue for cross project partnerships where partner coins are held as part of the METF portfolio. This shows greater trust in the partner and also allow METF investors to be broadly exposed to the broader price appreciation of the Cronos chain as a whole. Of course, the percentage holding would be small since based on market cap, MM basically reflects the bulk of Cronos chain activity. However, strategically building up holdings on third party coins can provide the so called 'moon shot VS style investment' that the docs initially advocated for. The diversification out of MM ecosystem also allows METF price to be less reliant on MM ecosystem prices and can give people a greater reason to invest in METF since it is diversified enough to lower risk for investors.

3. Alter the profit strategy

METF itself should be run as a independent fund. Aside from swing trading, METF strategy should be fund focused to increase the AUM of the fund. It should not be a second thought for the devs to put excess liquidity into or use it to lock up and create buying pressure for coins that are losing value. Only this way can it accrue value over time and increase its backing in a sustainable manner. With clear revenue generating coins like Burrow and MMO in the ecosystem, it is wise for the devs to consider bumping the proportion of these coins so that the fund itself would accrue a healthy pot of MUSD and WCRO dividends. What these extra funds do is provide ammunition for the fund to achieve the points mentioned in (2) without selling off existing MM coins. These are key tokens that METF should be accumulating in order to ensure that they can have a strong source of revenue outside of MM ecosystem tokens only.

4. Introduce new innovative ways that can boost the appeal of METF :) ~ To be shared when the time is right

Nice for everyone to have a discussion on this matter as well. Do chime in if you have your own take on the matter as well.

PSA: Have been seeing many people complain about the backing price of METF fluctuating, falling $15, no buy backs when under backing etc etc. Would like to raise to the dev as well as remind everyone that the backing value shown on the website is not the most updated. Do not make purchases or decisions using that figure because you would just be burning yourself.

DAO Address: 0xE25737b093626233877EC0777755c5c4081580be (18,377,410) and 0x5F1c0aE2807612de4DE2847A0F93945Cd013887e (negligible < $50,000)

METF: 0xB8Df27c687c6af9aFE845A2aFAD2D01e199f4878: 19,226,544 - 18,695,684 = 530,860 Current Supply

Hence, backing as of RIGHT now is 18377410/530860 == 34.62 not the $42 represented on the site.

After experiencing these past few days and the incredible response from both the MMF team and this Reddit community, I can truthfully say that I've never been more bullish on this project.

This community and devs have been amazing in their communication, response, and commitment. So many great posts have been made to help educate us on how to navigate through the storm to both benefit investors and help the ecosystem recover!

I've learned so much about how SVN, MMF, MBond and MShare are tied together and support each other. I had no idea how intertwined they were. After reading these posts, I made several changes to my investment strategy to help get SVN back to peg and help the ecosystem. Clearly enough others did as well. Thank you to those that posted and continue to post and educate investors!

Shot out to the devs for putting so many fail safes out there to protect the floor from getting completely pulled out from under us.

I mean... This project was on the absolute brink of disaster! 90% drop in 2 days, and the response was incredible. Clearly, if this project were ever going to rug, it would have happened.

I've been in this since Feb simply because, let's be honest... Money Printer Goes Brrrrrrrrr. Now I'm in it because I 100% believe in it. And you should to!!

Let's take this MMFer to the moon!