Executive Proposal - "New Polygon incentive distribution"

If the Mimo Token Holders accept the executive proposal, the following changes will be deployed to the Mimo Protocol:


  • Creation of a new PAR/MIMO pool
  • New incentive for the PAR/MIMO pool
  • New incentive for the PAR/PAR pool
  • New incentive for the PAR/JEUR/EURS pool


  • Release of a new MIMO locking contract
  • New incentive for the MIMO locking contract

The new incentive distribution will be:

Before After
 wETH Minting 15% 15%
 USDC Minting 3% 1%
 wBTC Minting 7% 7%
 wMATIC Minting 15% 12%
 [PAR/USDC] Balancer pool liquidity providing 60% 28%
 [PAR/PAR] Balancer pool liquidity providing 0% 15%
 [PAR/MIMO] Balancer pool liquidity providing 0% 7%
 [PAR/JEUR/EURS] Balancer pool liquidity providing 0% 10%
  MIMO locking contract 0% 5%


We believe this change needs to be executed because creating and incentivizing new pools will offer more liquidity and better interaction between Polygon and Ethereum.
The new MIMO locking contract is part of our gov token appreciation program. It will allow users to, as before, lock their MIMO tokens to get voting power, but they will now receive an incentive for doing that.


Please make sure to inform and educate yourself before proceeding with your vote. Community discussions are always welcomed.

1 Like

An incentivised PAR/MIMO pool going live soon would be really beneficial on Polygon for several reasons and would also encourage a lot of PAR to be minted and used. With the current USDC minting incentives and the Balancer USDC/PAR pool incentives the following method could be used:

1.Deposit DAI in Aave and receive amDAI token
2. Go to “Yield” section of QiDao and convert amDAI to camDAI (this auto-compounds wMATIC rewards from Aave)
3. Go to vaults and create a camDAI vault and borrow MAI at 90% LTV (interest free)
4. Swap MAI for USDC
5. Mint PAR against USDC
6. Supply PAR or PAR and USDC in the USDC/PAR pool in Balancer
7. Swap daily MIMO rewards for more PAR (incentives would encourage liquidity to stick)
8. Supply PAR in the USDC/PAR pool BAL
9. Repeat steps 7 and 8 daily

A PAR / MIMO pool on polygon is absolutely necessary

1 Like

The total MIMO distribution ratio between Ethereum (85%) and Polygon (15%) should be also changed along with this proposal.
Current ratio is not fair and not attractive for new user on Polygon.
Ideally, ratio will be determined by TVL ratio of each chain and reflect periodically. (e.g. daily)

Considering the participation rate and amount of players in the polygon network and the ethereum network, I think 15% is rather excessive.

It is safe to say that the polygon network experiment has actually failed.
Wouldn’t 5% be appropriate?

ETH L1 is way to expansive. I do think the polygon experience is successful. He is on Polygon the biggest decentralized stablecoin. And remember, even mister buttering consider L2 as a must.

I propose to remove the incentive on the USDC minting. And displace the rewards to the voting contract.