Lately, the SUI ecosystem has caught my attention due to the number of projects being developed, as well as great opportunities to take advantage of moving cryptocurrencies from one blockchain to another. In this case, I will mention the Momentum project, a very important #DEX in the SUI ecosystem with an active campaign. What is Momentum and what opportunities can I find? Let's explore.
First, to provide context, I want to start by defining the layer 1 blockchain network SUI, which is designed to meet global adoption needs by offering a secure, powerful, and scalable development platform. This network has its own cryptocurrency with the same name "#SUİ ".
Currently this network#blockchain ranks 12th in#Criptomonedas by market capitalization, and its cryptocurrency has a price of $3.65, according to Coinmarketcap.
Within this blockchain network, we find the Momentum project (MMT Finance), a DEX that ranks fifth in Total Value Locked (TVL), and is backed by the SUI network itself.
Considering some recent official data, this protocol has reached the astonishing figure of 1 million users, with over 7 billion dollars in volume and 150 million dollars in Total Value Locked.
What can be done in this Momentum?
What you can do are exchanges between tokens, build positions in liquidity pools, it has a bridge to bring native tokens from other blockchains, staking, and more.
What opportunities do I have in Momentum?
I see a tremendous opportunity in the liquidity pools, which have a very interesting APR that can be leveraged. You have a list of tokens that are accepted in the SUI ecosystem to build a position. You can use stablecoins, the native SUI token, as well as BTC and ETH.
A campaign is running to accumulate 'bricks' which are like points you accumulate based on the activities you perform in the protocol. Additionally, we have a ranking that is divided by 'levels', this may be a reference for a#Airdrop future of the protocol.
If you want to start using this protocol, you can move through the official native bridge of SUI, if you find yourself
on other blockchain networks. If you're coming from a centralized Exchange, you can make
withdrawals via the main SUI network.
For depositing and trading with the SUI token, I recommend the Phantom wallet, which also handles the Solana network.
You can use my referral if this guide helps you as it takes you directly to the page:
(app.mmt.finance/leaderboard?refer=5XVM0Y)
Personally, I see that it is a network that is constantly growing, and it seems very similar to Solana to me, due to its speed and low transaction costs. Remember that it is still in early stages, so always take into account some risks that may exist.
👉More crypto updates...
Share and follow me for more 👈😎
