Moma Procotol has announced it will be launching its Initial DEX Offering (IDO) on the Ignition Launchpad by Paid Network.
The Moma Protocol allows users to create, manage and accelerate DeFi lending markets through a proprietary factor Protocol model. This model brings democracy, customisation and infinite liquidity to the DeFi lending markets.
Kyle Chasse, CEO of Paid Network and Ignition, said:
“Liquidity, scalability and speculation. These three define the existing challenges in the DeFi industry. Despite the existing solutions in various platforms, no platform has successfully tackled the challenges at once the way Moma Protocol does. We are happy to introduce innovative ecosystems that would grow with DeFi’s market size, like Moma Protocol, to Ignition’s members.”
Moma Protocol has four key components: a risk management system, an aggregator tool, a lending pool, and a launching pool. The lending pool is designed to support the lending and borrowing patterns of any market. The lending pool has an over-collateralised structure that is customisable by users.
On the other hand, the Launch Pool function as the supply hub for the Moma Protocol ecosystem. Notably, this is a customisable pre-lending pool where community members can mine and distribute tokens for any project.
The Aggregator tool is designed to help with speculations on the Protocol. This tool functions by considering various parameters, including users borrowing and lending habits and uses this data to determine the best finance facility for that particular user. Lastly, the Protocol included the risk management system to ensure its clients do not suffer unnecessary losses. The tool uses two reserves, whistleblowers and a crypto asset risk rating database.
While commenting on the new partnership, Ocean Liao, CEO of Moma Protocol, stated:
“What Moma Protocol wants to achieve is to create an expandable, scalable and flexible infrastructure for the DeFi world in 5 -10 years, in a way that everyone can freely participate. This goal would be not possible without a solid community base. It is a pleasure to partner with Genesis Shards and Paid Network. We are thrilled to see the community’s enthusiasm and pre-IDO results on Genpad and are confident that the IDO on Ignition will be another success. We are ready to contribute to the DeFi industry and share success with the community in every stage of our development.”
Notably, Moma has already formed a partnership with Genpad in preparation for the IDO. The whitelisting process began on May 18, 2021, and is expected to run until May 21, 2021. Moma has scheduled the IDO on Ignition for May 27, 2021.
Moma Protocol’s social media channels: