The Mad Meerkat Finance team assured holders that the CEX listing of MMF (Polygon) will not lead to a token dump.
The Ayes Have It!
Mad Meerkat Finance received overwhelming support from its community members to implement an early unlock of 15 million $MMF to facilitate the listing of its Polygon token on a “Tier 1” centralized exchange (CEX). In a blog post published on Aug. 23, MM Finance informed its users that 85.13% of votes cast favored the proposed early unlocking.
On Aug. 19, the Decentralized Exchange (DEX) approached its community with a proposal to unlock 3% of the total supply of MMF (Polygon) tokens to seal the partnership with an undisclosed CEX.
In the recent blog post, MM Finance sought to allay fears that the potential CEX listing might lead to a dump of MMF (Polygon) token like what happened to Cronos MMF when it was listed. MM Finance informed community members that the initial CEX listing of Cronos MMF was negatively impacted by the collapse of $LUNA, which led many investors to exit their trade positions for safety.
With the intended listing of MMF (Polygon), the DEX added that its partnership with a “strong tier-1 CEX” will specify that there will be no limit to the amount of $MMF that retail end users can trade, allowing more users to buy $MMF.
In regard to the need to pay for the CEX listing, MM Finance added that it is an industry-standard practice as the listing fee is necessary to “facilitate administrative and coordination work for all parties.”
Source : bsc.news
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