XRP News Today: Mutuum Finance Raises $9.25M in Presale, XRP Investors Flock to DeFi Project

Ripple (XRP) has been embroiled in a prolonged legal dispute with the US Securities and Exchange Commission (SEC), which has kept its price below $2 for an extended period. Despite recent legal victories that initially suggested a path to recovery, XRP's price has shown signs of stagnation as the SEC continues its aggressive stance.

Meanwhile, Mutuum Finance (MUTM) is rapidly gaining traction as it seeks to revolutionize the decentralized finance (DeFi) ecosystem. Investors, particularly those in Ripple (XRP) looking for quick gains during the current bull run, are increasingly turning their attention to Mutuum Finance. This shift has propelled Mutuum Finance through various milestones at an astonishing pace.

Mutuum Finance has already completed the first four phases of its presale and is now in phase 5. To date, it has raised over $9.25 million from investors, with each token currently priced at $0.03. In the previous phase, tokens were priced at $0.025, marking a 20% increase in the current phase. The price is set to rise another 16.67% in the upcoming phase, reducing the guaranteed 100% return based on the $0.06 listing price. Those who wait until phase 6, when the price rises to $0.035, will see a 71.43% return on listing day, which, while still impressive, is significantly lower than a 100% return.

The presale has attracted over 11,100 participants. As a reward to the biggest early supporters, Mutuum Finance has launched a leaderboard in the presale dashboard. The leaderboard lists the biggest participants in the presale, who receive bonus spot rewards occasionally. Anyone can move to the top spot by purchasing more presale tokens than the listed top contender. The board is updated frequently, allowing participants to track their ranking.

The Mutuum Finance project aims to unlock the full potential of decentralized finance through an innovative lending protocol that offers two modes. The first mode, known as peer-to-contract (P2C), allows lenders to deposit funds into a common lending pool. These funds earn an annual percentage interest, whose rate is based on the pool’s utilization rate.

To cover every corner of the DeFi world, Mutuum Finance also plans to launch a peer-to-peer (P2P) mode, where lenders and borrowers can engage in direct negotiations. This mode is reserved for assets with lower liquidity, such as the PEPE meme coin. In P2P, lenders and borrowers set the terms for their loans, including the interest rate and repayment period, without input from any third parties.

Mutuum Finance also plans to launch a stablecoin to bolster the platform’s liquidity. This stablecoin will be algorithmically pegged to the USD and will be minted by borrowers using overcollateralized loans. Additionally, it will create another avenue to earn slow but steady gains via arbitrage, which will be an important tool in maintaining its price stability.

Mutuum Finance aims to create a platform that offers the best opportunities for fair price discovery. Consequently, it plans to use price oracles, powered by the Chainlink price feeds. These feeds present the price of assets in both USD and native coins such as ETH and AVAX. In the future, they plan to add backup price feeds to ensure 100% uptime. Additionally, they could use data from decentralized trading when volumes are sufficient to ensure that the market prices on the platform accurately represent real-world prices.

Besides the presale leaderboard, Mutuum Finance has created a $100K reward program designed to reward all early supporters of the project. In this giveaway, the minimum participation amount is $50 worth of tokens. Mutuum Finance will pick 10 lucky winners, each of whom will receive a $10K reward in MUTM tokens for being an early supporter of the vision.

Mutuum Finance aims to unleash the full power of DeFi, giving everyone a fair chance to make it big in the crypto world via multiple earning avenues. At the low entry price of $0.03 per token, this is an opportunity that even XRP investors could not pass up.