Executive Proposal - "Origination fee"

Improvement Protocol (MIP) Approved MIPs
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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.

SNAPSHOT

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

The total fee of 2% will not change. However, it will now be composed of an origination fee of 0.3% and an annual fee of 1.7%.

RATIONALE

We believe this change needs to be executed to prevent flash loan abuse used for mining optimization. A 0,3% origination fee would prevent that.

BE INFORMED

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

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Start : May 5, 2021, 10:30 AM
End : May 5, 2021, 2:30 PM
Just 4 hours ?

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Remember that the governance model isnā€™t fully in place now. We wanted to introduce this change as fast as possible so that no one can exploit the mining program in a very negative way. This is not a big change and is very beneficial for everyone who is mining MIMO token. Additionally, the borrowing fee is cheaper for everyone who has already minted PAR

1 Like
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Maybe you should only post 1 answer and put all questions into it?=)

Iam not a employeeā€¦

ā€¦but as far as i know you can vote in the future for additional benefits for the MiMo-Token!

At the moment they need to put the governance model into ā€œmimo-tokenā€ first ā€¦before you can do any other stuff ā€¦just my two cents :slight_smile:

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Thatā€™s correct! Thanks for responding to him, I banned him already several times because he insulted team members, unfortunately, he comes back every timeā€¦