What Is Million (MM)?

Million calls itself a “Decentralized Digital Currency for Millionaires [sic] by Millionaires.” Its founder called it a social experiment because it supposedly has limited downside with unlimited upside. Million has been launched with a fixed limited supply of one million tokens. According to its founder, it is pegged to USDC in the sense that it can never be worth less than 1 USDC. But unlike traditional stablecoins, Million can be worth more and has no upside limit.

In its roadmap, Million plans to launch on all major blockchains and partner with other projects, although it is unclear how these partnerships will exactly look like. It also promised non-fungible tokens (NFTs) collaborations with digital artists. Million wants to list on more exchanges in the coming months and win over celebrity influencers to promote the token. If it reaches a market cap of $1 billion, a "jacuzzi bar super party" will be held.

Who Are the Founders of Million?

Million was founded by a popular YouTuber called “TechLead”. His real name is Patrick Shyu and he is a US-based software developer and former software engineer at Google and Facebook. Prior to launching Million, he worked at Google from 2014 to 2018 and published videos about getting hired and leaving Google. After that, he worked for a year at Facebook before getting supposedly fired for running a YouTube channel.

He started his YouTube channel in February 2018, and as of August 2021, his channel counts over 1 million subscribers. Shyu claims to be a multimillionaire, although his exact net worth is unknown. In a YouTube video, he provided a breakdown of his influencer income: AdSense – $158,000; Tech Interview Pro – approximately $800,000 to $1,000,000; YouTube backstage – approximately $10,000 per month; affiliate & sponsor commissions – approximately $50,000 to $100,000 per year.

What Makes Million Unique?

Million is not a classic meme coin, but it also cannot be called a “normal” cryptocurrency. While its founder TechLead prefers to call it a social experiment and an opportunity, others have opined it to be a scam. The fact that TechLead has a massive following of people initially pushed the price of Million up significantly. This was helped by making headlines in crypto news outlets and discussions on Twitter.

The most interesting aspect is that TechLead claims to have backed up the supply of Million with his own $1 million initially. He also promises to maintain the peg of Million with his own money, so it can never fall below 1 USDC. However, other YouTubers and Twitter users have accused him of misleading buyers about this.

A YouTuber who goes by the name Coffeezilla, and has a channel of 600,000 subscribers, published a video outlining that according to blockchain transactions, TechLead only put in $50,000 of his own money and had been draining liquidity from the liquidity pools. TechLead denied this. While investors have to come to their own conclusions and do their due diligence before investing in a potentially risky currency, Million has undoubtedly attracted a lot of attention with its specific token design.

Related Pages:

Check out AmpleForth (AMPL) – a popular algorithmic stablecoin.

Check out Olympus (OHM) – another algorithmic stablecoin.

Read our article about stablecoins.

Get the latest crypto news and latest trading insights with the CoinMarketCap blog.

How Many Million (MM) Coins Are There in Circulation?

The total supply of MM is 1 million. It is deflationary since there will never be more than one million MM in circulation.

How Is the Million Network Secured?

Million initially launched on Ethereum as an ERC-20 token but is now also available on Binance Smart Chain (BSC) as a BEP-20 token. It passed a smart contract audit by Certik, a popular auditor for all kinds of tokens.

ERC-20 is a popular token standard among new tokens. Ethereum has the strongest developer network of all blockchains and is widely regarded as one of the most secure blockchain with smart contracts. It is secured by a proof-of-work consensus mechanism that requires miners to mine new Ether. A set of decentralized nodes validates transactions and secures the Ethereum blockchain.

BSC is secured through the proof-of-stake consensus mechanism. 21 validators are elected every 24 hours to validate transactions and maintain blockchain security. These validators have to stake a certain amount of BNB coins with Binance to be eligible to do so.

When Will Million Trading Begin?

Million began trading on July 13, 2021 and reached an all-time high of over $200 after a single day. It has been in a steady downtrend since and is trading around $40, a month after its launch.

Where Can You Buy Million (MM)?

Million is available for trading on Pancakeswap and Uniswap V3.

If you want to learn more about how you can start buying cryptocurrencies, you can read more here in our guide.

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