Mutuum Finance Launches V1 Testnet as Presale Tops $20 Million

New updates have been reported about Mutuum Finance (MUTM).

Mutuum Finance (MUTM) has moved from design to live testing with the release of its V1 lending protocol on the Sepolia testnet, a key step toward mainnet deployment and eventual revenue generation. The launch comes after a manual security review of the core smart contracts by Halborn and follows an earlier token audit by CertiK, which assigned Mutuum’s token a 90/100 trust score, strengthening the project’s risk and governance credentials in the DeFi market.

The V1 protocol showcases Mutuum’s dual-market structure: a peer-to-contract pool model where users supply assets such as ETH, WBTC, LINK, and USDT for variable-yield lending, and a peer-to-peer framework that supports bespoke loan terms for less standard assets. Liquidity providers receive mtTokens (such as mtETH or mtUSDT) that automatically accrue value as borrowers repay with interest, eliminating the need for manual reward claims and creating a transparent yield-tracking mechanism. Strategically, Mutuum is also using a buy-and-distribute fee model in which part of protocol revenues will be used to repurchase MUTM tokens on the open market for redistribution, directly linking platform activity to token demand.

On the funding side, Mutuum’s multi-phase presale has raised more than $20.58 million, with over 19,000 token holders and approximately 845 million MUTM already distributed out of the 1.82 billion tokens earmarked for presale from a fixed 4 billion supply. The project is currently in Phase 7 at a token price of $0.04, up from $0.01 in early 2025, and management has guided to a $0.06 listing price when MUTM begins trading on major exchanges, implying further step-up for current presale participants if execution remains on track. With testnet live, the team is now focused on stress-testing the lending engine, refining risk controls for volatility, and collecting user feedback to de-risk the mainnet launch, positioning Mutuum as a technically vetted entrant in the evolving crypto lending infrastructure space.