MMO increases the lubricity (slippery-ness) of the gasoline or fuel. It doesn't protect against oxidation. I'm pretty sure it's a saturated hydrocarbon. I could show that at my former workplace.
I use it in my Dodge/diesel since removal of the sulfur compounds from diesel fuel back when decreased its lubricity.
34 Years. Now with a '61 261, 848 head, Rochester Monojet carb, SM420 4-speed, 4.10 rear, dual reservoir MC, Bendix up front, 235/85R16 tires, 12-volt w/alternator, electric wipers and a modern radio in the glove box.