Million

Million (MM) serves multiple functions across DeFi, governance, and Web3 applications:

• Store of Value: Due to its fixed supply and liquidity-backed price floor, MM is designed to function as a deflationary digital asset. Its scarcity is emphasised by the fact that only one million tokens exist.
• Governance: MM tokens provide voting rights within the project’s decentralised autonomous organisation (DAO), enabling holders to submit and vote on community proposals.
• Staking and DeFi: MM can be staked via the Million Pool or used to provide liquidity on decentralised exchanges such as QuickSwap, where users may earn yield rewards.
• NFTs and Metaverse: MM is integrated into NFT platforms, art collectives, and metaverse initiatives such as LionRun.io. It also functions as a utility token in associated Web3 experiences.
• Transactional Use: MM supports microtransactions and transfers across its supported blockchains, including Ethereum and low-cost alternatives like Polygon and Harmony.
• Access and Status: Holding MM can unlock access to gated events, digital auctions, or community features within the ecosystem, reflecting its positioning as a social token.

Million (MM) was involved in a controversy shortly after its launch in July 2021. Patrick Shyu, the project’s founder, faced public allegations of executing a pump-and-dump scheme. Critics, including prominent voices on Twitter, accused him of initially providing liquidity at a low price and then removing it after a rapid price increase, effectively extracting large profits while the market collapsed. Blockchain data indicated a transfer of significant amounts of USDC to Shyu’s address after the token’s peak.

Shyu denied these allegations, stating that MM was intended as a speculative “social experiment” rather than a traditional investment. He maintained that liquidity movements were part of standard Uniswap operations and that no tokens were directly sold by him. Nonetheless, the controversy drew criticism regarding transparency and expectations set by the project, especially given Shyu’s large social media following.

Following the incident, the project saw a significant drop in price and activity. While MM continues to trade on decentralised exchanges, its development and community engagement appear to have slowed, and the official website is currently offline. Despite this, the token remains accessible due to its decentralised nature and presence on various automated market makers.

Although 'MM' was the ticker assigned at the deployment of the Million Token's smart contract, it is in use by another asset that has a larger market presence and higher trading volume on major exchanges. Due to this association and to avoid confusion in the marketplace, the alternative ticker 'MILLI' has been adopted for this token. This designation is specifically used to ensure that assets are distinctly identified.