Following the massive airdrop frenzy of Walrus, the popularity of the Sui ecosystem has been gradually rising, and many are looking for the second Walrus in the Sui ecosystem. The project we are introducing today, Momentum, has great potential!

Project Introduction

Momentum is a decentralized exchange (DEX) based on the Sui chain and is also a project within the Move ecosystem. Initially, this project was created to provide multi-signature wallet services (MSafe) and has now evolved into a decentralized trading platform focused on liquidity management and capital allocation.

Currently, the stablecoin of the Sui ecosystem is 100% minted by Momentum, indicating the project's position within the entire ecosystem.

Inspired by the success of Aerodrome, Momentum has also launched the world's first ve(3,3) DEX and token release platform on the Sui chain, aiming to accelerate the development of Sui.

Many may not understand what ve(3,3) is. In simple terms, it is a coordinated incentive mechanism so that all participants can benefit. Its advantages can be summarized as follows:

  • The protocol improves liquidity and optimizes APR by providing token incentives.

  • Voters will receive 100% of the trading fees and bribes.

  • Liquidity providers earn 100% of the MMT issuance.

  • Traders enjoy lower trading fees and less slippage.

Momentum's total funding has reached $10 million, led by Jump Crypto and Varys Capital.

In addition, Coinbase and Sui's co-founder Mysten are also their investors, and the latest funding round has attracted investments from institutions such as the Sui Foundation, Gate, and Amber.

Project Interaction

As a DEX project, its interaction difficulty is not high, consisting of common actions like Swap, adding LP, and some social activities.

https://app.mmt.finance/leaderboard?refer=72GXBA

Swap and LP Addition

Open the link above to enter the project’s official website.

The official interface is quite simple. In the top menu, aside from 'Trade', there's 'Liquidity'. The 'Positions' section allows you to view your added LP, and the leaderboard shows your ranking (based on how much liquidity you added). The cross-chain bridge used is the official cross-chain bridge of the Sui ecosystem, so the only actions available here are swap and adding liquidity.

Operation Tips

  • Using stablecoins for exchanges during swaps can reduce slippage, such as USDC and USDT;

  • However, all transactions are conducted using stablecoins. It is advisable to appropriately use some other tokens, such as SUI/WAL, to make it more like real interactions;

  • When adding liquidity, it is recommended not to go below 25U, as the official standard for real users is set here.

  • If you prefer stability while wanting some yield, you can choose to add to the FDUSD/USDC pool, which currently has an APR of 6.64%.

WAGMI Trading Competition

Additionally, apart from the normal LP fee rewards, the official team is currently promoting a WAGMI trading competition.

The official team will provide users with veMMT rewards based on your Swap transaction volume and LP amount. MMT is the token they are about to launch, which should be exchangeable for airdrops in the future, though the specific ratio is not yet clear.

Galactic Social Tasks

https://app.galxe.com/quest/Momentum

Half of the Galactic tasks have already ended, with a large number of participants and many tasks.

As a DeFi project, the best interaction method is still to use their project itself. Therefore, for those short on time, participation in Galactic tasks can be selective.

Invitation Tasks

Click on Leaderboard to see the 'Referral Code' area.

You can generate an invitation code here to invite others to use their products.

Your invitation data will be displayed on the Leaderboard, but please note that the official requirement is that your invited users must deposit at least 25U to be considered valid users.