MM Finance Announces Closure of MMF DEX by December 30, 2024
Platform to remain accessible for limited activities as team focuses on maintaining essential services
Key Takeaways:
MM Finance (MMF) DEX will officially close on December 30, 2024.
Community group is closed immediately to streamline operations and reduce costs.
Users are advised to migrate liquidity pool (LP) assets to platforms like VVS Finance or Ebisu.
Limited treasury funds will maintain platform upkeep until closure, with essential maintenance costs prioritized.
In a recent announcement, MM Finance (MMF) declared that its decentralized exchange (DEX) platform will close on December 30, 2024, citing resource depletion after three years of operation. The MMF team shared that, despite its efforts, the project could no longer sustain full operations and decided to close its community group to streamline and optimize the use of its remaining resources.
Users can continue using MMF DEX for staking, swapping, and liquidity management until the closing date. MMF emphasized that its remaining treasury funds are earmarked strictly for essential fees, including those for subgraphs, hosting, and server maintenance, to allow users as much access as possible in the coming weeks. The team recommended that users with liquidity pool (LP) assets migrate their holdings to alternative platforms, such as VVS Finance and Ebisu, to secure them before the closure.
This decision comes on the heels of a broader consolidation effort on July 7, 2024, during which MM Finance closed other products, including MM Optimizer, METF Finance, and Madmex. MMF acknowledged the impact of this transition on its community and provided an email contact, madmeerkatfinance@gmail.com, for users needing support. Although the team has disabled comments on their announcement, they committed to responding to support queries within 24 hours.