Low slippage, capital efficient swaps for all your stable needs!
With the launch of our MM StableSwap, our MMF ecosystem enables cheap, efficient, swift, and low-slippage swaps for traders to swap between stable tokens more efficiently.
- Lowest trading fees — MM StableSwap offers traders far lower trading fees for stablecoin trades than any other dex (0.17–0.25% per trade on average in traditional dexes vs. 0.04% on MM StableSwap). You pay 5x less fees per trade!
- Minimal slippage — Large traders and high-volume trading pairs are subject to high slippage on a traditional DEX, but MM StableSwap is able to prevent high slippage on stablecoin pairings.
- No impermanent loss — Liquidity providers on MM StableSwap supply stablecoin pairs that eliminate impermanent loss.
The Stablecoin pool contains three stablecoins, unlocking deep on-chain liquidity between pegged value crypto assets.
- USDC: USDC is an ERC20 token pegged 1:1 to the US dollars (USD)
- USDT: USDT, like USDC, is pegged 1:1 to the USD
- DAI: DAI is soft pegged to the USD algorithmically.
The MM StableSwap provides a smoother and cheaper way to provide liquidity and swap the stablecoins. It also comes with optimized code (lower gas costs), metapool, and no withdrawal fees.
Currently, the MM StableSwap offers trading fees as rewards. In the future, we plan to include flash loan support, which will generate additional returns for liquidity providers.
Providing liquidity to MM Stableswap is highly risky. Before using the protocol, we highly recommend reading the codeand understanding the risks involved with being a Liquidity Provider (LP) and/or using the AMM to trade pegged value crypto assets. Do not supply assets that you cannot afford to lose to MM Stableswap as a liquidity provider. Using MM Stableswap as an exchange user should be significantly less risky, but keep in mind there are still risks.
MM Stableswap's admin keys are controlled by multisig. This multisig has capabilities to pause new deposits and trades in case of technical emergencies. Users will always be able to withdraw their funds regardless of new deposits being paused. The multisig can also change the swap/withdrawal fees and the per pool/account deposit limits.
If one of the assets in a pool significantly depegs, it will effectively mean that pool liquidity providers will be left holding only that asset.
As some tokens (eg. USDT) do not comply to ERC20 standards for `approve` function, when using limited approvals, you may have to reset the approvals to 0 before changing to another value. If gas usage is your concern, we recommend using unlimited approvals. Otherwise, we recommend using limited approvals for added security.
Even though blockchain technology is, theoretically, hack-proof, there have been instances of hacking either the protocol or surrounding ecosystem such as wallets, exchanges, and marketplaces.
No technology is perfect and prone to human errors and technical glitches, especially new and upcoming technologies such as blockchain and DeFi.