MMT Token Value Soars: Governance Enhancements and DeFi Drivers in 2025

The token, which is the native asset of the (SUI) ecosystem, saw a significant price rally toward the end of 2025. This surge was fueled by a combination of on-chain governance enhancements and rising DeFi adoption. This article explores how these elements interact and examines whether this upward trend is likely to last or is just temporary.

On-Chain Governance: Building Decentralized Authority

MMT's governance structure underwent major changes in 2025, introducing a decentralized exchange (DEX) system inspired by ve(3,3). This approach links the token’s value to staking and participation in governance, establishing a feedback loop that encourages both liquidity and active protocol management, according to a

. By locking up MMT tokens to obtain veMMT, users receive voting power based on how long they commit their tokens, which aligns their interests with the protocol’s long-term health, as detailed in a .

The Binance HODLer Airdrop in October 2025 further boosted community involvement by distributing 0.75% of the initial token supply to

holders, as noted in the . This event not only broadened MMT’s user base but also signaled institutional support, since Binance’s participation is often linked to greater liquidity and higher market attention, as mentioned in a . However, the token’s inflation schedule—which starts six months after the TGE—presents a significant challenge. With 79.59% of tokens locked after TGE and set to unlock over four years, the market must weigh optimism about utility-driven demand against the risk of increased selling pressure, as pointed out in a .

DeFi Expansion: TVL, User Base, and Cross-Chain Integration

The global DeFi sector experienced a 41% increase in total value locked (TVL) during the third quarter of 2025, reaching $160 billion worldwide, according to a

. The MMT ecosystem has benefited from this momentum, with its TVL climbing above $600 million and trading volumes exceeding $25 billion since March 2025, as reported in a . This expansion is supported by the token’s integration with Wormhole’s cross-chain messaging, which allows Sui-based assets to connect with the and networks, as highlighted in a .

User growth statistics are equally impressive. The protocol attracted over 2.1 million users in 2025, largely due to incentives such as veMMT holders earning all protocol trading fees, as described in a

. Mobile DeFi wallets now make up 58% of all users, reflecting a broader trend toward greater accessibility, according to a . Cross-chain transactions, supported by Layer-2 solutions, have increased by 52% so far this year, positioning MMT’s ve(3,3) model as a bridge between Sui’s high throughput and Ethereum’s deep liquidity, as noted in a .

Weighing Opportunities and Threats

Despite the positive impact of governance reforms and DeFi growth, certain risks remain. The gradual release of tokens to investors and the team, starting in mid-2026, could heighten price swings, especially if demand does not keep pace, according to the

. Broader economic factors, such as the instability of algorithmic stablecoins and tighter regulations on unsecured assets, have also led to a more cautious market for speculative tokens, as discussed in a .

Nevertheless, Momentum’s development plans may help offset these risks. The launch of a perpetual DEX in Q1 2026 and the introduction of Momentum X—a platform for real-world assets (RWA)—in Q2 2026 could draw institutional investors by expanding the token’s use cases beyond just trading fees, as emphasized in the

. These initiatives are in line with broader DeFi movements, where RWAs and liquid staking tokens (LSTs) are attracting long-term capital to protocols, as mentioned in the .

Conclusion: Assessing Governance and Utility for MMT

The late 2025 price rally for MMT is the result of innovative governance mechanisms and favorable DeFi trends. The ve(3,3) system’s focus on extended staking and governance has built a strong foundation, while Binance’s airdrop and cross-chain features have increased liquidity. However, the token’s long-term prospects depend on successfully rolling out new products and managing inflation. For investors, the central issue is whether MMT can sustain its growth as a governance-centric DeFi platform in a fast-changing environment.