Tuesday, March 28, 2023

Muna Blog

Muna is a simple & safe DeFi app built for Africans. Crypto savings with daily interest, instant coin swap, and lend + borrow.

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Muna next developments

Note: Last updated on October 2 at 6:02 AM WAT, to include an additional 5,000 USDN worth of $MUNA sale.

In this article, we will share what we have already achieved and what changes have been made to our future plans.

Muna Development Roadmap:

2022 Q1 (Before and After IDO) — Completed
Swop.fi Launchpad integration. Vires.finance integration, to allow anyone to lend and borrow crypto using Muna. Lending assets and earning daily interest, Muna currently supports lending and borrowing Bitcoin, ETH, Waves, USDT, USDN, and USDC. Simple and safe.

MUNA token staking on swop.fi and Muna app, more asset listing, and Cross-chain stable coin swap.

2022 Q2 — Completed
Earning center to incentivize users and onboard more users, Payment requests, and pay invoices.

2022 Q3 — Completed
Since the end of MUNA IDO, we have made good progress but due to regulatory challenges, some of our tasks for Q3 were revised including crypto credit card integration which is intended to help Muna users be able to create and fund virtual credit cards that can be used to shop online without first converting to fiat. These virtual cards can be topped up with WAVES, USDN, USDT, BTC, and USDC.

We did a soft launch of the Muna ambassador program.

Throughout Q3, we held hosted education meetings educating and reaching thousands of participants and new audiences, and onboarding them on Muna.

2022 Q4:

While we have made good progress, some of our Q4 targets have to be adjusted due to general market and ecosystem conditions. We are glad to share these changes in this post.

Our plan to launch an NFT marketplace has been postponed till further notice as its priority is now taken by the development of other tools and functionalities.

In Q4, a referral program will be launched, bringing in new users and benefiting our project and existing community members.

Expanding our fiat deposit to support Ghanaians which will enable Ghanaians to buy and sell USDN with their local currency.

As stated in our MUNA tokenomics, 10% (1 million) of the total MUNA supply is allocated for development and marketing. Due to recent conditions on vires.finance, the Liquidity Protocol for Lending and Borrowing Assets on Waves. After our IDO, we put a good amount of project funds locked on vires.finance which recently experienced a liquidity squeeze (you can read about it here)

To support our project development and marketing, and ensure it continues to move at a good speed and delivery, we would be selling 10,020 $USDN worth of $MUNA tokens via swop.fi, while the liquidity situation on vires.finance is improved.

We understand how this may substantially affect the price of the $MUNA token. To help this situation, the $MUNA team will buy back 15,020 $USDN of $MUNA tokens from the open market between 10th September 2022 to 7th December 2022. In the case where the situation doesn’t get very better, we execute our alternative plans to curb the situation. All the realized USDN will be used to further the Muna project.

See transaction details:

Another interesting update that is coming to the Muna app in this fourth quarter is extending our crypto <> fiat trading pairs to enable our African users easily buy more crypto directly with their local currency.

Also in the fourth quarter of 2022, we expect to release Muna virtual crypto cards. Thank you for supporting Muna.

Stay tuned for more news and updates!

Website: Muna.africa

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