Mutuum Finance (MUTM) has confirmed that a new feature is scheduled to be released in the coming week as part of the ongoing V1 Protocol development on the Sepolia testnet. In a recent statement published on X, the team reported that they are actively refining the core components of the codebase, including optimizations to the Stability Factor, a primary metric in the V1 update, enhancing solvency, and advancing the protocol’s infrastructure on the Sepolia testnet.
V1 Testnet Launch and Core Features
The V1 launch, now live on the testnet, enables users to interact with core functionalities such as lending, borrowing, mtToken issuance, and simulated liquidations all in a risk-free environment. The project has so far raised more than $20.6 million, with over 19,000 holders of its MUTM token, currently priced at $0.04. The total supply of MUTM is fixed at 4 billion tokens, with 45.5% allocated for the community presale. Approximately 850 million tokens have been sold to date.
While in the same update, the team also recorded that the Sepolia testnet version of its lending and borrowing protocol has surpassed $90 million in testnet total value locked (TVL), reflecting simulated liquidity activity during the beta testing. Thus, the project is progressing toward mainnet deployment later in this year.
Participants can test the issuance of mTokens, observe the automated liquidation bot, and monitor how the interest rates respond to the changes in the pool liquidity with the V1 protocol. This phase is aimed at gathering the performance data, thereby ensuring the stability of the system before full mainnet deployment.
Four assets are currently available for minting and interaction on the testnet, which are ETH, USDT, LINK, and WBTC. Additionally, the portfolio section will provide the data on net worth, net APY, Stability Factor, and the total supply and borrow balances, with mTokens integrating into the current version of the platform.
On the borrowing side, investors will need collateral to secure loans and protect the protocol against default risk. Users can post assets as collateral and borrow against their value rather than selling them.
Audit Legacy and Future Roadmap
The structure of Mutuum Finance is in two distinct models: Peer-to-Contract (P2C) and Peer-to-Peer (P2P). The expansion follows a completed security audit by Halborn and a CertiK Token Scan score of 90/100 for the MUTM token.
Halborn has also performed security audits for major projects built on the Solana blockchain. Furthermore, in partnership with CertiK, Mutuum Finance has established a bug bounty program, with a reward pool of up to $50,000. It is primarily aimed at identifying potential vulnerabilities and strengthening protocol security.
Additionally, to aid in accessibility, Mutuum Finance allows both cryptocurrency payments and direct card purchases, facilitating the participation of a wide range of users as the project prepares for its broader entry into the DeFi crypto market. The future roadmap of Mutuum Finance includes a native over-collateralized stablecoin, Layer-2 integration, and multi-chain expansion, enhancing the security and ecosystem reach.
