1:27 Introduction
2:17 MM ETF – Game Plan
3:54 How does it work?
4:22 How is this different then other DAO Forks?
5:30 MMF will back $METF TOKEN
5:58 5 main strategies for Growth!
6:34 Key Focus is Sustainability
7:10 MMF will back $METF
8:15 What strategies will the team use to back $METF
12:03 Conclusion
Here is (Part. 1) of a 2 part series on “MM ETF”
In this video we will read through a quick briefing together so you can understand the basics and the main goal of “MM ETF”.
Hope this video can help you get a better understanding of the use case scenario, and what the over function of the protocol will be.
The M̶M̶D̶A̶O̶ MM ETF product will be launched to achieve this protocol-owned-liquidity goal. Through the use of a bonding system, users will sell their liquidity tokens to our M̶M̶D̶A̶O̶ MM ETF where users will receive a $METF token. This $METF token can then be used for single staking to earn the premium earned through the selling of bonds.
Unlike traditional rebasing DAOs inspired by Olympus, our solution only seeks to borrow the concept of accumulating POL through selling bonds at a premium. There will be no rebasing mechanism as it is generally too complicated for the laymen to understand. Instead, we will be implementing a staking mechanism. Also, it generally results in overinflation in circulating supply at the beginning before the project has amassed sufficient liquidity (which results in huge dumps) before the project is ready. Most importantly, the main token to be used as backing will not be $DAI (as opposed to what all projects currently do), but $MMF will be used. Each $METF token that exists in circulation will always be backed 1 to 1 $MMF minimally.
The team will be placing all POL that has been accumulated thus far from trading fees (~$1mil USD), and will continue using POL from trading fees to back the $METF token. We currently have the highest trading volume on Cronos (attached below data from dexscreener) and we expect this POL from trading fees to increase exponentially as our platform increase in user base and consequently, trading volume.
Also, the team will grow the token backing through the use of 4 main strategies outlined below. With a total of 4 main strategies (trading fees POL, yield generation, decentralized venture capital, partnerships that increases accumulation), we will be the first DAO to be able to aggressively increase token backing as opposed to the current narrative for all Ohm forks where token prices are skydiving.
This is a long term game that we are playing in order to accumulate POL. This is why we will not adopt crazy bond discounts of 10%. We look to ATTRACT ONLY users who firmly believe in our ecosystem by not providing a high bond ROI. Users who hold $METF will benefit in the mid to long term from an increasing token backing as the treasury grows. Key focus is on sustainability.
The MM ETFwill seek to sell bonds for the following types of assets: $MMF, $SVN, METF-MMF LP, MMF-CRO LP. Our concept is different compared to what all other Ohm forks are doing where they seek to accept DAI tokens.
Why these tokens? Because we are backed by the $MMF token, it is only sensible to accumulate $MMF tokens to grow the backing. Since $SVN tokens are pegged 1:1 to $MMF, it achieves the same task of becoming backing for $METF. METF-MMF LPs are important to facilitate price stability and trades for the $METF token. MMF-CRO LPs are the bedrock of our entire MM ecosystem, and we will seek to accumulate that as well.
The $METF token is backed by the $MMF token, and hence we seek to accumulate $MMF tokens to increase the backing over time. To do so, the team has multiple strategies that will be implemented to ensure that the $MMF tokens backing $METF increase over time, increasing the intrinsic value of $METF.
The team will utilise the funds generated from bonds to generate yields. This will include the use of high-yielding auto-compounded vaults on MMO to earn $MMF and $MMO. At the same time, because each $METF token is backed by the $MMF token, a larger fund allocation will be prioritised towards svn.finance to provide liquidity for the SVN-MMF pair as this will exponentially grow treasury (especially since each SVN is pegged 1:1 MMF, and hence works perfectly as treasury backing).
MMFinance will deepen its partnership with all our partners, including Croissant Games with their battle tested RNG solutions to integrate its games to allow play-to-win games directly against the MM ETFtreasury to exponentially grow the treasury of $MMF, $SVN, $METF tokens to further increase backing.
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