On November 3, Binance announced its 56th project on the HODLer Airdrops portal, before listing it – Momentum (MMT).
Users who subscribed their BNB to Simple Earn (Flexible and/or Locked) and/or On-Chain Yields products starting on October 17 at 00:00 (UTC) until October 19 at 23:59 (UTC) are eligible for the airdrop.
Binance created the HODLer Aidrops portal to retroactively reward users based on historical snapshots of their BNB holdings.
What is Momentum (MMT)?
Momentum is building a global financial OS on the Sui chain and beyond for the tokenized future, and the project is backed by Coinbase, Circle, OKX, and Jump Crypto.
The DeFi protocol aims to power liquidity, trading, and governance, being designed to align the interests of traders, LPs, and token holders.
Key Project Phases
Momentum claims to be the OS that powers the next era of global finance in which crypto and RWAs are traded in a single platform.
To achieve this, Momentum brings 3 phases:
- Trading Sui-native assets – Core products like Momentum DEX, xSUI (liquid staking), and MSafe (treasury management and token vesting) offer the foundation for Sui-native assets to trade, stake, and earn efficiently.
- Expanding cross-chain – Momentum plans to extend its infrastructure to support assets from other chains via Wormhole.
- Unlocking tokenized RWAs – The final phase integrates trillion-dollar classes of RWAs, including securities, commodities, real estate, and IP, into Momentum’s onchain marketplace.
Momentum DEX Key Details
DeFi Llama data shows that the Momentum DEX 30-day volume is over $12 billion, and the project’s TVL is almost $265 million as of November 3rd, after reaching a top above $633 million on October 25.
As of October 25, Momentum DEX has:
- Onboarded over 1.68 million unique swap users, and over 1.42 million LPs
- Processed over $25 billion in cumulative trading volume
The Momentum DEX allows users to connect multiple wallets, including Phantom, Sui MetaMask Snap, Slush, OKX Wallet, Binance Wallet, Gate Wallet, Newmoney, SafePal, Bitget Wallet, Suiet, and Observe Wallet to trade on the platform.
The DEX features multiple liquidity pools and vaults, and it also allows bridging via Sui Bridge, Wormhole, Squid, Lifi.
Momentum’s Aim
Momentum builds the BTCfi vision, which activates Bitcoin’s dormant capital via DeFi. The project builds this vision together with Sui and ecosystem partners.
The platform features over 15 BTCfi pairs and more than $100 million in liquidity.
What is MMT?
MMT is the governance token of the Momentum ecosystem.
Token Utilities
MMT has the following utilities:
- Bonding mechanism – Bonding MMT generates veMMT, and the mechanism grants governance power proportional to both the amount of MMT bonded and the duration of the lock.
- Governance and participation – veMMT holders can actively participate in protocol governance via voting on proposals, parameter changes, emission distributions, and more.
- Community rewards – MMT drives onchain activity, protocol growth, and community participation; users who contribute to the ecosystem growth are eligible for rewards.
- Privileged access – veMMT holders get access to the Momentum ecosystem, including early participation in new yield vaults, priority allocations in the TGL, and beta access to new products and features.
Tokenomics
The total supply of MMT will be 1 billion tokens. At TGE set to take place on November 4, the initial circulating supply will be over 20% of the total supply, or more than 204 million MMT tokens.
The MMT token allocation is as follows:
- 42.7% goes to the community growth.
- 24.8% goes to investors.
- 18% goes to the team.
- 13% is set aside for the ecosystem.
- 1.5% is for public sale.
Binance HODLer Airdrops rewards
Binance’s HODLer Airdrops token rewards are 7.5 million MMT tokens. 5 million MMT tokens will be allocated by Binance to marketing campaigns after the spot listing, according to the exchange’s official announcement.
Binance will allocate 1,25 million MMT to future marketing campaigns six months after spot listing.
Binance’s MMT Listing Details
Binance will list MMT on November 4 at 12:00 (UTC) and will open trading for the following pairs:
- MMT/USDT
- MMT/USDC
- MMT/BNB
- MMT/TRY
MMT will be listed with the Seed Tag applied, signaling potential high volatilty for the digital asset. Ahead of the spot listing, the exchange will launch MMT on Binance Alpha, the platform created to showcase early-stage projects with growth potential in Web3.
Binance users can start depositing MMT on the exchange.
