Mutuum Finance employs mtTokens as a proof of deposit for clients who provide assets to the platform. Upon depositing funds into the pool of liquidity, users are rewarded with mtTokens that symbolize their proportion of the pool. These tokens automatically accrue interest as time passes, reflecting the generated yield from lending activity.
Holders can redeem their mtTokens at any time to withdraw their original deposit plus accrued interest. Furthermore, mtTokens are transferable, tradable, or utilizable in other DeFi applications, with flexibility while still keeping exposure to the original asset.
To add to its attractiveness, the platform is also working on an overcollateralized stablecoin, which will provide users with a means of accessing liquidity without having to sell their crypto. This aspect will further make Mutuum Finance a part of the larger DeFi ecosystem, and its applications will extend beyond conventional lending.
The presale of MUTM has been going very quickly, with more than $2.3 million raised and thousands of investors joining in. Now in its second phase, the token is selling for $0.015, with the next phase to take it up to $0.02. With 11 presale phases culminating in a launch price of $0.06, early investors will experience a 4x before the token even reaches major exchanges.