When it comes to AMM (Automated Market Maker) for stablecoins and pegged assets, some outstanding examples are Curve Finance on Ethereum or Synapse Protocol on Binance Smart Chain. Have you ever thought about which AMM stands out in the Celo ecosystem? In this article, we would like to provide you with all the details about Mobius (MOBI) – the first AMM for stablecoins on the Celo ecosystem:
- What is Mobius Money? What are Mobius’s features?
- MOBI Tokenomic: key metrics, token allocation, and token use-cases.
- How/Where to earn and store MOBI tokens?
- Roadmap & Updates.
- Founders/ Team members, Investors, and Strategic partners.
Let’s explore the potential of Mobius!
What is Mobius?
Mobius is an Automated Market Maker (AMM) built on Celo, designed for low-slippage trading of stablecoins and pegged assets. Mobius is non-custodial, meaning Mobius developers do not have access to your tokens. In addition, Mobius is a fork of Nerve Finance variation with modifications to support additional asset types.
How does Mobius work?
Mobius is a decentralized exchange created exclusively for stablecoins or pegged cryptocurrencies (for example, wETH, wBTC…), allowing users to trade stablecoins with low slippage and small transaction fees. Therefore, Mobius’s approach is to concentrate on how to make these transactions run smoothly.
Mobius applies Curve’s StableSwap invariant, which is generally used to swap between assets that are pegged to the same value. It is a fully autonomous stablecoin market maker with very little price slippage, as well as efficient fiat savings account for liquidity providers on the other side. Besides that, the price stability of stablecoins makes liquidity providing lossless with no impermanent loss risk.
Assume you are trying to convert $100 USDT to cUSD. You would receive $97.9796 if you used Ubeswap, the largest AMM on Celo, representing a loss of $2.0204. If you used Mobius instead, you would receive $99.0555. That’s why we should choose Mobius whenever we need to swap stablecoins or high-value pegged assets. Mobius’s swapping algorithm is specifically intended for pegged assets, making it far more efficient than a non-optimized AMM like Ubeswap.
Mobius can also be used as a platform for cross-chain capital migration. Mobius has connected to AllBridge so that it can connect to the stablecoins of the Solana ecosystem. Anyone on Celo or Solana can use the bridge to move assets between the two chains. Besides that, Mobius is currently in testing with Optics Bridge, and it is planned to connect additional Polygon and Ethereum ecosystems.
What is the MOBI token?
MOBI is a governance token that has voting rights in the MobiusDAO. MOBI can be minted, distributed, and put to work across the Celo ecosystem.
Detailed information about MOBI token
MOBI Key Metrics
- Token Name: Mobius.
- Ticker: MOBI.
- Blockchain: Celo.
- Token Standard: Updating…
- Contract: 0x73a210637f6f6b7005512677ba6b3c96bb4aa44b
- Token Type: Utility, Governance.
- Total Supply: 1,000,000,000 MOBI.
- Circulating Supply: Updating…
MOBI Token Allocation
- Mining Reserve: 34%.
- Partnership & Ecosystem: 30%.
- Celo Reserve: 5%.
- Team: 20%.
- Strategic Advisors: 3%.
- Liquidity Mining: 7.5%.
- Airdrop: 0.5%.
MOBI Token Release Schedule
The MOBI tokens will be released by the MobiusDAO on September 17, 2021, with a maximum supply of 1,000,000,000 MOBI. Tokens allocated to the team and advisors are locked for 1 year.
MOBI Token Sales
There is no Token Sale for MOBI tokens.
MOBI Token Use Cases
Staking Rewards: You can stake MOBI tokens over a fixed period to receive veMOBI. veMOBI is similar to veCRV in that it acts as a voting escrow token.
Governance: Active stakeholders and liquidity providers are actively engaged in the process of discussing, voting for protocol upgrades.
The Celo Reserve: Mobius will contribute a part of its tokens to the Celo reserve. The reserve is aimed to be an over-collateralized basket of crypto assets that maintain the peg of Celo’s assortment of decentralized stablecoins.
How to get MOBI Token
You can buy MOBI tokens on Ubeswap and then stake them on Ubeswap pools to receive incentives for MOBI tokens. In addition, stablecoins can be deposited in the Pool feature on Mobius to receive MOBI tokens.
How to store MOBI Token
You can store MOBI on Coin98 Wallet with these steps:
Step 1: Open Coin98 Wallet & click Receive on the home screen.
Step 2: Search MOBI Token.
Step 3: Click on the correct result (Mobius Money), copy the wallet address and send MOBI to this address.
Mobius has just launched the roadmap for October 2021 focusing on activities such as MOBI Staking, DeFi for the People Rewards, New Bridge, Solana with Bridge Aggregator, and New Front-end Home Page.
Team, Investors, and Partners
Mobius Money has partnered with multiple projects, namely Celo, Ubeswap, Allbridge, Optics Bridge, etc.
Is Mobius (MOBI) a good investment?
At the moment, Mobius’s Total Value Locked (TVL) is currently about $38 million, which has almost unchanged since the end of September 2021.
On the other hand, MOBI has dropped more than 300% at the ATH price of $0.67 to $0.20. Thus, Mobius needs stronger strategies to stimulate the platform’s TVL in order to enable MOBI’s price to grow in the future.
To make a more accurate evaluation, we need to look at the entire Celo ecosystem, which now has a TVL of around $950 million. Mobius and Celo’s TVL both reached ATH (All-Time High) at the end of September 2021, and the TVL is currently showing exhibiting indications of slowing down.
Disclaimer: All the information in this article is only for information purposes and should NOT be considered investment advice. Investing in Crypto contains hugely high risks, and you should only invest the fund you are willing to lose.
By looking at similar projects, you can compare Mobius’s product quality and the possibility of future price increases. Other projects that are also AMMs for stablecoins services like Mobius:
I just finished introducing the basic information about Mobius Money. Do you believe Mobius Money is a good place to invest right now? Please leave a comment below to discuss Mobius Money together.
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