Momentum DEX on Sui Blockchain Scores Big with $100M Valuation!

OKX Ventures Leads the Charge in Momentum's Latest Funding Round

Hang onto your hats, folks! Momentum, the blazing-fast decentralized exchange on the Sui blockchain, just pulled off a jaw-dropping strategic funding round with a cool $100 million valuation. And guess who's leading the pack? None other than OKX Ventures, with heavy hitters like Coinbase Ventures, Protagonist, and a whole slew of other big-name investors jumping on board. This fresh cash is set to supercharge Momentum's operations, dive deep into liquidity, and roll out mind-blowing new features for everyone from your average Joe to the big institutional players.

This isn't Momentum's first rodeo, though. They kicked off the year with a $10 million boost in March, courtesy of Varys Capital, building on the solid support from Circle Ventures, Coinbase Ventures, and the Sui Foundation. Talk about stacking the deck!

But wait, there's more! Momentum's got the backing of some seriously big names in the game, from Coin Bureau to Crypto Lark, and even @theonlynom from Bonk. With this kind of firepower behind them, the sky's the limit!

What's Momentum all about? It's a DEX running on Sui, using the slick Move programming language to shake things up with trading, token vesting, and treasury management. They burst onto the scene in March, and they've been on fire ever since!

But here's the kicker: before they even went public, Momentum was busy behind the scenes for over two years, cooking up their tech and teaming up with heavyweights like the Sui Foundation, Bluefin, and a bunch of others. And get this—they were the masterminds behind minting the full supply of hot stablecoins like Agora USD, First Digital USD, and USDY on Sui. Talk about making waves!

Now, hold up—Momentum isn't your run-of-the-mill DEX. They're shaking things up with a vote-escrowed tokenomics model called ve(3,3). What's that mean? It means they're getting users to lock up their MMT governance tokens in exchange for some serious voting power and a slice of the protocol's revenue pie. It's a win-win-win for liquidity providers, traders, and the protocol itself, with 100% of those juicy trading fees and rewards going straight to the veMMT holders. Now that's how you shake up the game!