In-depth analysis of Momentum Finance (MMT) pre-sale and Binance Prime Sale (as of October 31, 2025, UTC)
TL;DR
Momentum Finance, the leading DEX in the Sui ecosystem, completed an $82 million community pre-sale at the end of October (oversubscribed 18 times) , and launched the second Binance Wallet Prime Sale on October 31 ($1.5 million, price $0.10). TGE is scheduled for November 4, with an initial circulating supply of approximately 20.41%, and 0% unlocked for the team and investors. On-chain, it has accumulated $263 million in TVL and $26.29 billion in cumulative trading volume , with continued high social sentiment. It is expected to become the core of liquidity in the Sui ecosystem after TGE, but the short-term selling pressure risk from the "immediate unlocking of all tokens" should be noted.
Core Analysis
1. Pre-sales and financing pathways
| event | Time (UTC) | Target/Actual Fundraising | Remark |
|---|---|---|---|
| Buidlpad Community Wheel | 10-27 ~ 10-28 | 4.5 million → 82 million USD (18 times oversubscribed) | Oversubscription will be refunded proportionally, and participants will receive Title-Deed NFTs. |
| Binance Wallet Prime Sale | 10-31 09:00-11:00 | 1.5 million USD (15 MMT, 1.5% supply) | Price: USD 0.10; Requires ≥15 Alpha Points; Maximum 7 BNB Followin per account. |
| TGE & Token Distribution | 11-04 10:00 | Publicly available: 204.1 MMT (20.41%) | Prime Sale & Pre-sale Shares Airdropped Simultaneously |
| Spot listing (expected) | After 11-04 | Binance, Bybit, Momentum DEX | Binance has not yet officially announced spot trading, but there are high expectations for its ecosystem. |
Binance 's official website provides the same information as the table above regarding Prime Sale prices, limits, and timings, and restricts participation to a two-hour window.
2. Token Economic Model
| Allocation Items | Proportion | Unlock/Ownership |
|---|---|---|
| Community and ecological incentives | 42.72% | Most TGE will be available immediately (including airdrops, liquidity mining, and grants). |
| Public Offer & Prime Sale | 11.41% | 100% TGE unlocked |
| investor | 24.78% | 12-month Cliff + 48-month Linear |
| team | 18% | 12-month Cliff + 48-month Linear |
| Other (advisors, foundations) | 3.09% | Depending on the module, linearity is achieved after 12-24 months. |
Total supply: 1 billion tokens; Governance adopts a ve(3,3) lock-up model: staking for up to 4 years grants maximum voting rights and a 25% transaction fee rebate. TGE initial FDV depends on the opening price.
• At the Prime Sale price of USD 0.10, the FDV is USD 100 million , and the circulating market capitalization is approximately USD 20.4 million .
• If Bybit is scheduled to launch in the OTC market at a price range of 0.63-0.70 USD, the FDV could reach 700 million USD , potentially leading to significant market volatility.
3. On-chain metrics (as of 03:55 UTC on October 31, 2025)
| index | numerical values | Changes in the past 30 days | Remark |
|---|---|---|---|
| TVL | $289 million | -37% (peak value of 550 million → present value) | It accounts for 23.7% of Sui TVL. |
| Cumulative trading volume | $26.29 billion | +1.3 billion US dollars | 3rd in the world of DEX |
| 24-hour handling fee | 90,425 USD | -3.8% | Annualized fee income of 44.98 million |
| Cumulative user addresses | 1.7-2.1 million | +12% MoM | Representing approximately 24% of Sui's active addresses |
The high APR SUI-USDC and ETH-SUI CLMM pools are the main contributors to TVL; the xSUI staking pool once locked up $222 million in liquidity during the HODL event. The team plans to open veMMT voting after TGE to guide phí/incentives towards deeper pools.
4. Social and Market Sentiment
- Emotional temperature: High fever
On X/Twitter, there is widespread native discussion about keywords such as "oversubscription 18+" and "Binance flash sale 2 hours," with positive/neutral posts accounting for over 90%. x.com - Mainstream Narrative
- "Sui Ecosystem Hidden Champion" - valued for the deep liquidity brought by its combination of CLMM and cross-chain bridge.
- "Fair Launch" – High proportion of community and Prime Sale subscriptions, with long-term lock-up for teams/VCs.
- "Alpha Points Threshold" - Divergent Opinions: Loyal Users Benefit, Retail Investors Miss Out on the Opportunity to Buy at 0.10 USDT.
- Missing and Risky Voices <br /> There is little mention in public discussions of the potential selling pressure from "100% community share unlocking immediately," creating an information blind spot; there are also limited warnings about the recent decline in TVL (-37%), and there may be an overheated sentiment.
Risks and Opportunities
- Circulating selling pressure : With all community and public offering shares unlocked, if the opening price is significantly higher than 0.10 USD, short-term arbitrage selling pressure will intensify.
- TVL volatility : A significant pullback occurred in late October. If the Sui ecosystem's popularity cools down, protocol revenue will also be under pressure.
- Regulatory compliance : The Prime Sale uses Alpha Points instead of direct BNB subscription to reduce securitization controversies; however, if Binance launches spot trading later, the progress of compliance needs to be observed.
- Beta premium : The Sui chain itself is still in its growth stage; if the ecosystem cannot continue to attract developers, the network effect of Momentum will be limited.
in conclusion
Momentum Finance, with its high community participation, dual-channel offerings, and Sui-native positioning , had already built a significant user and liquidity base before TGE. The $82 million oversubscription and the Binance Prime Sale significantly boosted its brand awareness but also raised market expectations. In the short term, attention should be paid to price volatility resulting from 100% community circulation ; its medium- to long-term value depends on whether the ve(3,3) model can continue to attract TVL and trading volume, giving MMT real yield and governance weight. Overall, MMT has the potential to become the liquidity hub of Sui DeFi , and investors should maintain a prudent balance between high enthusiasm and fundamentals.