If the Mimo Token Holders accept the executive proposal, the following changes will be deployed to the Mimo Protocol:
MIMO Distribution:
| Before | After | |
|---|---|---|
| PAR Staking | 0% | 5% |
| wETH Minting on Ethereum | 25% | 20% |
| wETH Minting on Polygon | 15% | 10% |
Fees (PAR) Distribution:
| Before | After | |
|---|---|---|
| Safety reserve | 100% | 20% |
| PAR staking | 0% | 40% |
| Buy-Back contract | 0% | 40% |
Fees:
| Before | After | |
|---|---|---|
| Borrowing fees | 1.7% | 3% |
RATIONALE
The new PAR Staking feature is part of our stabilization program made to manage the circulating supply of PAR by incentivizing users staking them with MIMO and PAR tokens.
The new Buy Back feature is part of our gov token utility program. Instead of sending all the fees to the safety reserve contract, the fee distributor will send 40% of them to the new Buy-Back contract made to buy MIMO tokens on the market and lock them for 4 years. This new type of fund will be managed by the MIMO token holders.
The increase of the borrowing fees is also part of our stabilization program to limit the circulating supply of our stable coin by making the minting slightly more expensive with a total of 3.3%; 3% for the borrowing fees and 0.3% for the origination fees. We then intend to suggest varying borrowing fees per collateral.
BE INFORMED
Please make sure to inform and educate yourself before proceeding with your vote. Community discussions are always welcomed.