MIMO
$MIMO
MIMO is the token associated with the MIMO DAO community.
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: MIMO
- Token contract (Ethereum): 0x90b831fa3bebf58e9744a14d638e25b4ee06f9bc
- Token contract (Polygon): 0xADAC33f543267c4D59a8c299cF804c303BC3e4aC
- Token contract (Fantom): 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 Mimo Distribution v2, the allocation is done as follows :
| Before | After | |
|---|---|---|
| Weekly Issuance: | 5,654,203.999197681117886672 | 1,413,550.999799420279471668 |
| Weekly Reduction: | 5.55% | 1.3875% |
Issuance Parameters
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 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
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:
| 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.