PREAMBLE
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:
The total MIMO distribution will be split as the following:
| Before | After | |
|---|---|---|
| Ethereum | 100% | 85% |
| Polygon | 0% | 15% |
On Polygon, the incentive will be:
| Incentive | |
|---|---|
| wETH Minting | 15% |
| USDC Minting | 3% |
| wBTC Minting | 7% |
| wMATIC Minting | 15% |
| [PAR: USDC] Balancer pool liquidity providing | 60% |
On Ethereum, the incentive will be:
| Incentive | |
|---|---|
| wETH Minting | 25% |
| USDC Minting | 3% |
| wBTC Minting | 11% |
| [PAR: wETH] Balancer pool liquidity providing | 5% |
| [PAR: USDC] Balancer pool liquidity providing | 28% |
| [PAR: MIMO] Balancer pool liquidity providing | 28% |
RATIONALE
We believe this change needs to be executed because deploying and incentivizing Polygon will offer a better user experience. Depositing/withdrawing collaterals, Minting/Returning PARs will be cheaper and faster, making the Mimo experience a lot more affordable.
BE INFORMED
Please make sure to inform and educate yourself before proceeding with your vote. Community discussions are always welcomed.