MMP stable coins
Stable coins are a type of digital currency that is pegged to the value of any cryptocurrency, fiat currency, or trade commodity. Their name derives from their being non-volatile.
This is not to say that their value is stagnant. Just like gold or other stable fiat currencies, the value of the stable coin varies according to the economic situation. However, stable coins tend to fluctuate less than other types of cryptocurrencies, making them a good option for exchange because of their stability in value and price.
MMUSD is Moon Maker Protocol’s stable coin backed up by BUSD at a ratio of 1:1. It is equivalent to the digital version of the US dollar.
With mmUSD, you can:
- Farm on TukTuk.space
- Buy IMO on Moon Maker Protocol’s Launchpad
- Provide more LP for Decentralized Exchange (DEX)
- Use it for Moon Maker Protocol’s future projects
You can learn how to mint or redeem the mmUSD at
How to mint mmUSD?
There are 2 ways to mint mmUSD:
1. Use MMP token
2. Use stable coins
A 5% minting fee applies on minting mmUSD. The minting fee is for MMP tokens only. If the investor uses stable coins to mint mmUSD, the system will convert the value of the stable coin into MMP first. Thereafter, the fee will be deducted from the current MMP value. Finally, the total MMP value will be converted into mmUSD.
How to redeem mmUSD
Investors can follow these instructions on the MMP platform in order to redeem mmUSD and receive BUSD:
- 1.Go to https://moonmakerprotocol.com
- 2.Click on “mmUSD” on the top menu
- 3.Select “Redeem” and enter the amount you wish to redeem
- 4.Click “Approve mmUSD”
A 1% fee applies on redemption. There are 2 options through which investors can pay this fee:
1. Deduction from mmp
2. Deduction from BUSD