The Governance Facilitator(s) and the Mimo Contracts Team have placed an executive proposal into the voting system. Mimo Token Holders are requested to vote for this proposal if they support the following alterations to the Mimo Protocol.
If the Mimo Token Holders accept the executive proposal the following changes will be deployed to the Mimo Protocol:
I. The wETH debt ceiling will be increased from 10 million PAR to 20 million PAR
II. The MIMO Liquidity Mining will be changed as follows:
- BTC minting: 14% (to be reduced by 6%)
- Pool ETH-PAR: 28% (to be increased by 3%)
- Pool USDC-PAR: 28% (to be increased by 3%)
- ETH minting: 25% (no change)
- USDC minting: 5% (no change)
Voting for this executive proposal will place your Mimo Token in support of the changes and additions outlined above.
Unless otherwise noted, the changes and additions outlined above are subject to the GSM Pause Delay, i.e. if this executive proposal passes, the changes and additions will only be deployed on the Mimo Protocol after the GSM Pause Delay has expired. The GSM Pause Delay is currently set to 24 hours.
If this executive proposal does not pass within 20 days then it will expire and can no longer have any effect on the Mimo Protocol.
The last few thrilling weeks have proved Mimo an exceptional platform. Since its official launch, Mimo has grown to over EUR 28,000,000 Total Value Locked (TVL). Keeping up with the increasing demand for the PAR token as well as to provide the opportunity to leverage on ETH it will be required to raise the wETH debt ceiling from 10 to 20 million PAR.
In addition, we believe that it is essential to further incentivize the provision of liquidity to further support the growth of PAR while at the same time keep the price stable. Thus, it will be essential to change the above-mentioned pairs.
We are confident that these changes are appropriate and will enable a better and healthier growth while solidifying the foundation of our ecosystem.
Please make sure to inform and educate yourself before proceeding with your vote. Community discussions on the topics outlined above can be found on the Mimo governance forum.