Momentum price

MMT is going live tonight, and friends who participated in the renaming + presale can finally reap the rewards. The valuation logic of Momentum is actually quite simple, yet a bit different. Its core is the ve(3,3) model—a mechanism that tightly binds locking, governance, and rewards together. In this model, users lock up $MMT to receive $veMMT, which allows them to participate in governance voting; all transaction fee revenues belong to these voters. To obtain more liquidity incentives, the project team must engage in "vote-buying"—offering additional rewards to voters. This way, the entire ecosystem forms a self-circulating incentive system, concentrating money and power in the hands of those who truly believe in the project long-term. Since its launch in March this year, Momentum has achieved results in just six months: TVL has exceeded $270 million, cumulative trading volume has surpassed $26 billion, annualized transaction fees are $45 million, and there are over 2 million users. This indicates that it is not just popular, but genuinely has substantial trading activity and revenue. In terms of valuation, referencing several leading DEXs: Uniswap's PE is about 12, Raydium 16, and Aerodrome on the Base chain 15. Based on Momentum's current income level, the circulating market cap is approximately over $500 million, and fully diluted (FDV) it could reach between $1 billion to $1.5 billion. Moreover, its current circulation is only 20.4%, with most still locked, so the actual circulating tokens are even fewer, providing stronger valuation support. Looking further ahead, in the medium to long term, Momentum, as the core DEX of the SUI ecosystem, has the opportunity to capture 10% of the entire public chain market cap. If SUI rises to $50 billion to $80 billion in the next round, Momentum could potentially reach a FDV of $5 billion to $8 billion. In the longer term, it is not just a DEX, but may also become a financial liquidity engine connecting crypto assets with RWA, comparable to the real-world parent company of the New York Stock Exchange, ICE (market cap around $100 billion) or Citadel Securities (valuation $22 billion). From this perspective, the imagination space for Momentum has just begun. Without further ado, I remain optimistic about MMT; this project is just like Aster, which Cz promotes—one is essential for exchanges, and the other is essential for the SUI chain.

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