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In | MIMO is the token associated with the MIMO DAO community. | ||
[[File:MIMO logo.png|thumb|MIMO logo]] | |||
MIMO governance tokens are distributed to users of the protocol for creating PAR through borrowing and for providing liquidity in AMM pools. | |||
MIMO is a community-run, community-governed protocol. Changes are made through proposals and voted by holders of the governance token (MIMO). | |||
Token symbol: [https://www.coingecko.com/fr/pi%C3%A8ces/mimo-governance-token MIMO] | |||
- Token contract (Ethereum): [https://etherscan.io/token/0x90b831fa3bebf58e9744a14d638e25b4ee06f9bc 0x90b831fa3bebf58e9744a14d638e25b4ee06f9bc] | |||
- Token contract (Polygon): [https://polygonscan.com/token/0xADAC33f543267c4D59a8c299cF804c303BC3e4aC 0xADAC33f543267c4D59a8c299cF804c303BC3e4aC] | |||
- Token contract (Fantom): [https://ftmscan.com/token/0x1D1764F04DE29da6b90ffBef372D1A45596C4855 0x1D1764F04DE29da6b90ffBef372D1A45596C4855] | |||
Max Supply: 1,000,000,000 MIMO | |||
=== Farming === | |||
MIMO distribution is managed by the MIMODistributor module, which mints MIMO tokens according to a supply curve that reduces the amount of new MIMO tokens every week. | |||
=== Issuance === | |||
According to the last proposal [https://gov.mimo.capital/t/executive-proposal-mimo-distribution-v2/96 Mimo Distribution v2], the allocation is done as follows : | |||
{| class="wikitable" | |||
|+New issuance | |||
! | |||
!Before | |||
!After | |||
|- | |||
|Weekly Issuance: | |||
|5,654,203.999197681117886672 | |||
|1,413,550.999799420279471668 | |||
|- | |||
|Weekly Reduction: | |||
|5.55% | |||
|1.3875% | |||
|} | |||
==== Issuance Parameters ==== | |||
[[File:Issuance overview.png|thumb|Issuance overview]] | |||
In the first week, 55.5m MIMO will be issued. Then, the amounts issued in subsequent weeks are calculated as: | |||
''WeeklyIssuance = 55.5m * 0.9445^week'' | |||
This guarantees that there will never be more than 1,000,000,000 MIMO tokens. | |||
=== Issuance Overview === | |||
We have produced a general overview of the supply over time by incorporating the weekly reduction of the inflation as well as the supply generated by the [https://medium.com/mimodefi-blog/claim-your-mimo-tokens-guide-e983bbc4558f TenX and PAY token holder] claim that started the 9 April 2021 and ended the 1st April 2022. | |||
The "Community" part mean Farming through : Liquidity Providing, PAR staking and PAR minting. | |||
== vMIMO and Voting Power == | |||
Voting escrow MIMO (vMIMO) = voting Power | |||
[[File:Voting power.png|thumb|Voting power decreases linearly as time progresses, and vanishes completely at lockup expiration.]] | |||
In order to participate in Mimo Protocol governance, token holders must lock their MIMO in the VotingEscrow contract. Users receive non-transferable vMIMO in exchange as the following: | |||
{| class="wikitable" | |||
|+voting power table | |||
!Locked Amount | |||
!Duration | |||
!Voting Power | |||
|- | |||
|1 MIMO | |||
|4 years | |||
|1.00 vMIMO | |||
|- | |||
|1 MIMO | |||
|3 years | |||
|0.75 vMIMO | |||
|- | |||
|1 MIMO | |||
|2 years | |||
|0.50 vMIMO | |||
|- | |||
|1 MIMO | |||
|1 year | |||
|0.25 vMIMO | |||
|} | |||
Users’ voting power decays as their lock period comes closer to expiration but can be extended at any time. The voting power is calculated as follows: ''VotingWeight^i = stake^i * remainingLockup^i'' | |||
The staking contract keeps track of the remaining lockup in real-time without any user intervention. According to the formula, voting power is topped up at the moment of deposit and decreases linearly afterward. | |||
Note that locking tokens beyond the MAXTIME of 4 years will not earn additional voting power. Locking 100 tokens for four years now and locking 100 tokens for more than four years earns the same amount of voting power. |
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