The summer of 2023 has been successful for Avalanche (AVAX) as it actively develops its DeFi sector and attracts investors' attention. Emerging on the horizon is also Mutuum Finance (MUTM), a promising project in decentralized finance.
Avalanche (AVAX) Updates
Avalanche (AVAX) recently showed an 8% increase over 24 hours, reaching a price of $21.08. Its DeFi ecosystem surpassed $5 billion in total value locked, correlated with an increase in network throughput. The ACP-181 upgrade, which enhanced validator sync and VM speed, alongside partnerships with major companies, contributed to increased adoption. Weekly trading volume grew by 60.95%, with over 515 million transactions in June, outpacing other blockchains.
Features of Mutuum Finance (MUTM)
Mutuum Finance (MUTM) aims to be not just a new token but a fully-featured non-custodial lending protocol. The project utilizes a dual lending model: P2C (peer-to-contract) and P2P (peer-to-peer). In the P2C model, users will be able to deposit well-known cryptocurrencies into decentralized liquidity pools, with variable interest rates. A P2P layer is designed for meme token holders, allowing assets like PEPE, SHIB, and DOGE to be used as collateral.
Future Plans and Security of Mutuum Finance
The roadmap of Mutuum Finance (MUTM) includes multiple phases, from presale to the launch of a decentralized stablecoin. An important part of the current phase is smart contract design and risk parameter integration. The project takes security seriously, undergoing audits while launching a reward program for ethical hackers. This establishes a reliable foundation for future launches and development.
From Avalanche (AVAX)'s DeFi successes to the prospects of Mutuum Finance (MUTM), summer 2023 promises to be interesting for investors. Both projects have potential for growth and development in the decentralized finance market.
