Mimo Labs is broadening the governance power of the MIMO token: KUMA Protocol & Bond-Backed Tokens

In our growing narrative of building products for unfavorable market conditions, Mimo Labs has decided to build the KUMA Protocol and give its governance rights to the MIMO token holders. In a nutshell, the KUMA protocol mints rebase tokens called KUMA Interest-Bearing Tokens using bond-backed NFTs as a backing. The KUMA protocol will provide DeFi users with composable yield strategies.

The KUMA Protocol is new and will be part of a new DAO, unsurprisingly named the KUMA DAO, where the MIMO token holders hold voting rights.

This setup might sound complex, but it’s the cleanest way we have found to limit the confusion of the users of these two products.

You’ll find more information about the KUMA Protocol in our Medium article.

KUMA Protocol Info Links: