Mutuum Finance completes audit, launches $50k bug bounty

Mutuum Finance raises over $16m in presale after passing a CertiK audit with a strong security score.

Mutuum Finance (MUTM) is a new cryptocurrency that is in its presale stage and has passed an audit conducted by CertiK with a Token Scan rating of 90 out of 100. This success has increased the credibility of the project, and it has been coupled with new inflows that have led to raising of its presale money to over $16 million.

CertiK audit and bug bounty program

CertiK, one of the most widely recognized blockchain security firms, conducted the audit of Mutuum Finance’s smart contracts. By reviewing the protocol’s underlying code, the audit helps increase investor trust, ensuring that the project’s core infrastructure is reliable and prepared for its next stages of development.

Alongside the audit, Mutuum Finance has introduced a $50,000 bug bounty program. The initiative is designed to encourage ethical hackers and security researchers to report potential vulnerabilities, strengthening the protocol’s defenses before its mainnet release. Rewards are distributed in USD, with payouts determined by the severity of the issue reported:

• Critical – up to $2,000
• Major – up to $1,000
• Medium – up to $500
• Low – up to $200

This organized initiative emphasizes the transparency and security of the project since it engages the broader population in the protection of its ecosystem.

Mutuum Finance opportunities

At the moment, the MUTM token costs 0.035. The sixth stage of the presale has already been completed 40% and the next seventh stage is going to increase the price to $0.04, almost 20% higher than the current price. The presale commenced at $0.1 per token and has gone through 5 successful stages, which is an increase of more than 250% up to this point.

Having a rigid supply of 4 billion MUTM tokens, 45.5% has been claimed as the presale, highlighting its contribution as the key force behind the distribution. With the launch price set at $0.06, the token represents a 500% increase from its initial presale stage.

Nevertheless, it is not yet late, as even starting at the present stage, a 2x increase is possible by the time of the launch. Up to now, the project has collected more than $16 million, highlighting the high demand.

What is Mutuum Finance?

It is a decentralized borrowing and lending system which enables its users to provide crypto assets, receive interest on them, and take loans against their assets in the form of overcollateralized loans.

The platform is a hybrid of two: peer to contract (P2C) lending of mainstream assets and a peer to peer (P2P) marketplace of more risky tokens, such as SHIB or DOGE, which makes it flexible and more widespread. Depositors are issued with mtTokens which they earn interest on as they remain in a liquid state and transferable.

Besides that, Mutuum Finance implements a staking-based dividend structure. A part of the platform revenues is acquired to purchase MUTM tokens directly in the open market and distributed in the form of dividends to individuals who stake their mtTokens in the safety module. This not only compensates long term participants with more tokens but also establishes the buy pressure on MUTM, a mechanism that may prove to be beneficial to the value of the token as the platform increases.

Mutuum Finance, according to its roadmap, is about to announce a series of changes that are connected with the second stage of development during which core aspects of the project, including smart contracts, front-end development, and risk parameters are being developed. Another characteristic of the roadmap is that the platform will be launched alongside the exchange listing of the token, which is an indication that utility is going to be provided on day one as opposed to coming later.

Alongside the initial release, the development vision is the on-demand stablecoin directly built on the protocol and future solutions of scaling to Layer-2, both of which may increase the volume of liquidity and make it more accessible. All of these milestones enable Mutuum Finance to approach the market with an operating product, and a clear way to expand in the long term.

Out of its total supply of 4 billion MUTM tokens they have allotted 200,000,000 MUTM (5% of the supply) to community incentives and giveaways. There is a currently running giveaway of $100,000 which provides the winner with a chance to win $10,000 of MUTM, with the rules and details fully outlined on the project site.

Mutuum Finance’s road ahead

Mutuum Finance is passing through its presale phases, but it is recording consistent development and security progress. The CertiK audit is completed, a $50,000 bug bounty program has been introduced, and the roadmap has been updated to show that the platform release is followed by the token listing, which means that credibility and long-term utility are prioritized in the project. Its more ambitious goals in DeFi are signaled by such features as dual lending models, mtTokens, staking-based dividends, and future extensions like a stablecoin and Layer-2 scaling.

With a fundraising of over $16 million, Mutuum Finance puts itself on the presale project list in terms of integrating security, functionality, and community participation before its actual launch.

To learn more about Mutuum Finance, visit the website and socials.