DEX Momentum Hits $1 Billion in Trading Volume in Exceptionally Short Period
Strutting Its Stuff: Momentum Finance Dominates Sui's Hot Decentralized Exchange Scene
Feel the Rhythm with SCENEMomentum Finance, the blazing new decentralized exchange on the Sui Network, has stormed the market, churning out an astounding $1 billion in total swap volume just a month after its debut. This epic entrance solidifies Momentum as one of the fastest-growing DeFi players on the Sui Blockchain.
With over 200k unique users and a mind-boggling volume of trades in popular tokens like $DEEP, $SUI, $WAL, and $USDC, Momentum is swiftly becoming a pivotal liquidity engine within the Sui ecosystem.
"Riding the Wave of Adoption. In a rollercoaster crypto market, Momentum is positioning itself as a trailblazer in the Sui Ecosystem. Buckle up as we're about to shower records and reach new peaks." - ChefWEN, Founder of Momentum
Before unveiling its flagship DEX, Momentum already made a significant impact with Momentum Safe. It provided services such as token vesting, treasury management, and liquidity provisioning across Move Blockchains, boasting a whopping $500 million in Total Value Locked (TVL), $1.8 billion in transaction volume, and over 35k active wallets. This robust foundation and ecosystem trust smoothly paved the way for Momentum's leap into decentralized trading with the launch of its ve(3,3) DEX in early April.
Born from Three Years of development across Move-based ecosystems, Momentum was co-founded by ChefWEN, formerly a founding member of the Libra project at Meta (@ChefMMT_X on X), with backing from big names such as Coinbase, Circle, Amber, Selini, the Sui foundation, and more.
Momentum kicks off the Momentum Building Program, a long-haul initiative that empowers users to nab "bricks" by trading, referring, and providing liquidity. Early adopters get a chance to secure a long-term stake in Momentum's growth. Each brick earned contributes toward future MMT token ownership, voting power, and a share of 100% of protocol fees and incentives dished out weekly.
The program unfolds in two phases. In the initial LFG phase, users score a 20% brick bonus to maximize their earnings. The subsequent WAGMI trading competition phase introduces bonus pools and referral incentives as the ecosystem expands. At the moment, they're running a campaign in partnership with OKX wallet to entice early adopters.
Momentum is also gearing up to announce major ecosystem partnerships that will expand its reach and integrate more protocols into its exchange. These collaborations will fuel protocol-owned liquidity, bring in new token pools, and activate new user bases.
Momentum will make its mark as a sponsor at Sui Basecamp, a flagship event celebrating pioneers and builders within the Sui ecosystem. As Momentum prepares to become a leading DEX on Sui, it's also steadfastly working to strengthen its network of ecosystem partners.
Join the action and bag rewards on Momentum DEX at https://app.mmt.finance/trade!
All About Momentum
Momentum is the leading Move Central Liquidity Engine with solutions like Multi-Sig Treasury Management, Token Vesting, and Liquidity Provisioning. With over 35k active wallets, $500M in Total Value Locked (TVL), and $1.8B in Transaction Volume, Momentum is set to shake up the landscape with the debut of the first Move ve(3,3) DEX. Momentum was co-founded by ChefWEN (@ChefMMT_X), one of the founding engineers contributing to the Libra project at Meta.
For more information about Momentum, cruise through these channels: Website | X | Linkedin | Telegram
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Note: This press release is sponsored by our commercial partners
What's Cooking in Sui's DEX World?
When it comes to the fastest-growing decentralized exchanges (DEXs) on the Sui Blockchain, Momentum Finance might not be explicitly mentioned yet. However, Sui itself has been invading the limelight for its zippy blockchain and swiftly blooming DeFi ecosystem. Here's a sneak peek into the landscape and potential growth factors of Sui's DEXs:
The Lowdown on Sui DEXs
- Decentralized Trading: Sui supports several decentralized exchanges that let users swap tokens without fiddling with central authority intervention. These DEXs are key to ensuring smooth trading and liquidity within the Sui ecosystem[5].
- Trading Volume and Liquidity: The trading volume on Sui DEXs has been substantial, with a notable 24-hour volume of $497 million. This indicates strong engagement and participation in Sui-based trading platforms[5].
- Diverse Assets Support: Sui exchanges deal in a variety of trading pairs, including popular digital currencies like Bitcoin and BNB. Liquidity pools uphold these pairs, ensuring seamless transactions and stable prices[5].
Momentum's Impact and Sui DEX Growth Factors
Although specific facts about Momentum Finance aren't provided here, Sui's DEXs are likely to prosper from various growth factors:- Technical Muscle: Sui's high-performance blockchain, fueled by its object-based architecture and parallel execution, facilitates rapid and affordable transactions. This makes it a tantalizing platform for DeFi applications and decentralized trading[4][5].- Strategic Collaborations: Partnerships, such as the one with 21Shares, a leading crypto ETP provider, can stimulate institutional interest and global reach for the Sui ecosystem, potentially benefiting its DEXs[1].- Expanding DeFi Ecosystem: Sui's DeFi ecosystem is expanding rapidly, including support for Bitcoin-based DeFi via integrations like Stacks, which could boost interest in its DEXs[4].
Momentum Finance, the blazing new decentralized exchange on Sui Network, has surpassed $1 billion in total swap volume, solidifying its position as one of the fastest-growing DeFi players on Sui Blockchain. It deals in popular tokens like $DEEP, $SUI, $WAL, and $USDC, making it a pivotal liquidity engine within the Sui ecosystem.
In addition to its DEX, Momentum made a significant impact with Momentum Safe, providing services like token vesting, treasury management, and liquidity provisioning across Move Blockchains. It boasted a whopping $500 million in Total Value Locked (TVL), $1.8 billion in transaction volume, and over 35k active wallets.
Co-founded by ChefWEN, a former founding member of the Libra project at Meta, Momentum is empowering users through the Momentum Building Program to earn bricks, contributing towards future MMT token ownership, voting power, and a share of protocol fees and incentives. Each brick earned contributes to long-term stake in Momentum's growth.
Momentum Finance is working to strengthen its network of ecosystem partners, such as announcing major partnerships that will expand its reach and integrate more protocols into its exchange. It is also set to become a leading DEX sponsor at Sui Basecamp, celebrating pioneers and builders within the Sui ecosystem.
To join the action and bag rewards, visit Momentum DEX at https://app.mmt.finance/trade!
While Momentum Finance might not be explicitly mentioned, Sui's DEXs are likely to prosper from growth factors like technical muscle, strategic collaborations, and expanding DeFi ecosystem. Sui supports several DEXs for decentralized trading, with substantial trading volume and diverse assets support.
