MM Finance successfully concluded the launchpad sale for its Dawn Star Finance algorithmic stablecoin on Polygon.
The Mad Meerkat Finance (MM Finance) launchpad sale for Dawn Star Finance (DSF) was concluded, following tweaks to the final token design based on input from the project’s community.
MM Finance reacted positively to the success of the DSF token launch, and described it as a major step toward building a sustainability narrative for their intended listing of the MadMeX (MMX) product on PolyMM.
“We are excited that our Dawn Star Finance product has received overwhelming support, leading to over subscription of DSF token. DSF is a crucial piece in bringing the MMF ecosystem to the next level,” the MMF team told BSC News following the launch.
DSF is billed as the first algorithmic stablecoin on Polygon backed by real yields and pegged to the price of 1 MMF via seigniorage.
After the original DSF launch announcement on Aug. 28, adjustments were made to the tokenomics of $DSF. The launchpad sale took place on MM Finance (Polygon) on Aug 30. and lasted for 4 hours with buyers needing MMF/MMO LP to participate.
MM Finance burned 100% of the $MMO raised from the launchpad on Polygon, equivalent to 43,759 $MMO (~$250,000) out of the total circulating supply.
Fears of a potential dump following the DSF lunch — as happened with the Cronos MMF listing — did not materialize, thanks to community input on the DSF launch.
MM Finance said the meaningful discussion on making DSF more sustainable will greatly benefit the upcoming MMX product. As mentioned in the DSF announcement, their strategy is built around developing the ability to shift the DEX’s narrative towards a “real-yield” one.
Source : bsc.news
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