Moma Protocol Will Host Dual IDO on July 6

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Moma Protocol DeFi Project

Defi lending project Moma Protocol has announced details of its Initial DEX Offering (IDO). A dual token sale, scheduled for July 6, will see Moma’s native token made available to the public on the WeStarter and Bounce platforms. An Initial Exchange Offering (IEO) will simultaneously occur on Hotbit, giving investors a range of options for acquiring the Moma token.

Who’s Yo Moma?

Moma Protocol is focused on introducing customizable lending pools for defi projects and traditional asset managers. This will enable the creation of decentralized lending products for high demand assets and will also support the lending of long-tail assets that are currently underserved by existing lending protocols.

Bridging the B2B and B2C sectors, Moma will target business clients primarily, but its lending pools will also be accessible to retail users. Interest paid by borrowers will be paid proportionally to liquidity providers, providing a direct incentive to lenders.

Public Sale Follows Private Raise

Moma Protocol’s July 6 public sales arrive off the back of a seed round and private sale that attracted several of the industry’s leading VCs. SevenX Ventures, AU21, DFG Capital, and MXC were among the firms who pledged capital to Moma in return for a token allocation.

The triple public token sale will commence at 11:00am UTC on July 6 and requires participants to complete whitelisting in advance of the event. Following the completion of the dual IDO and IEO, trading of Mama’s native token will commence at 1:00pm the same day.

At present, defi lending protocols generate over $650 million in annual interest, derived from almost $7.5 billion in loans. Using staked assets as collateral, anyone can take out a loan denominated in stablecoins or crypto tokens, before using these for yield farming and other revenue generating opportunities.

Defi Does Tradfi

Decentralized finance has captured the imagination of the retail market with its promise of a parallel financial system in which anyone can participate. Despite its permissionless design, however, defi has lacked the tools to support institutional participation up until now. Many asset managers who operate within the traditional financial sector are attracted by the generous yields that defi has to offer but are prevented from participating for regulatory reasons.

This week, defi lending protocol Aave released details of Pro, a KYC’d version of its decentralized lending platform designed for institutional investors. Moma Protocol also aims to target this sector of the market, while remaining true to the non-custodial and decentralized ethos of defi.

Moma’s smart contract factory will operate as a plug-and-play Launch Pool and Lending Pool creator. This will enable users to customize the type of crypto assets and pool parameters without the need for coding experience. Self-created pools can be integrated into third-party platforms, allowing creators to manage them and to profit from lending and borrowing opportunities.

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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