The Parallel Protocol and the MIMO governance token were created with high-end tokenomics in sight. Not only is holding a token algorithmically pegged to the EURO — backed by collateralized digital assets — a wonderful financial option for investors, but the tokenomics and governance involved in the process make them one of the most well-suited tokens for yield farming through liquidity pools, decentralized democratic governance voting.
In this tutorial you will learn how to add tokens to Balancer V2 liquidity pools. We currently support PAR, USDC, MIMO and wETH. Adding any of these tokens as liquidity will allow you to…
If you’d like to follow along with the conversation from June 24, 2021, here is a direct link.
Otherwise, we’ve provided a breakdown and summary of the highlights.
Q: Could you provide a brief introduction to MIMO Governance and Parallel?
A: Okay let me start with a little bit of a backstory to set the pace.
While running TenX we’ve seen a lot of data suggesting to us that there was unmet demand for a Euro stable coin, and the negative interest rates in Europe…
Our latest voting session for MIMO token holders put our community into action one more time. One of the decisions approved was to change the way liquidity mining staking rewards are distributed. It is now necessary for MIMO liquidity miners to migrate from V1 to V2 pools in Balancer, in order to continue receiving MIMO as a reward for liquidity mining. In this tutorial, you will learn how to properly do this migration.
Step 1: Go into https://mimo.capital/mining
Step 2: Withdraw the Balancer V1 BPT, the unclaimed MIMO token will be withdrawn too. The withdraw option is only visible if…
Sociologist and communication theorist Everett Rogers came up with the Diffusion of Innovation Theory in 1962. The thesis describes the spread of a new invention in a social system. Marketers use the Diffusion of Innovation Theory to anticipate the market’s reaction to a new service or product.
At the heart of the concept is the fact that mass adoption is not an overnight phenomenon. Rather, it is a product of time, communication channels, perceptions and the social systems at play. These factors determine the failure or success rate of a new product.
For this reason, marketers spend a lot of…
UPDATE: Considering some of the members of our community have requested more time to send memes for our Mimo MemeMaster Tournament, we have decided to extend our time-line. The updates dates can be viewed on the calendar.
Since Mimo cracked €40,000,000 TVL, we’re ready to have some fun. And we’re giving away 9,500 MIMO to celebrate.
The Mimo community’s undying support deserves some reward and a Meme Contest is one of the first of many opportunities for collaborating & giving back.
Show us your creative ability by coming up with your own meme! The funnier, the more creative, the better.
The Parallel Protocol was designed to allow users to use digital assets — such as ETH or wBTC — as collateral in a Vault, in order to mint PAR tokens. Each PAR token is algorithmically pegged to the value of 1 EUR.
In this tutorial, you will learn how to create a Vault, deposit ETH into the Vault as collateral, and mint PAR tokens backed by the collateralized digital assets in your Vault.
Step 1: Open your browser and go to the following link: https://mimo.capital.
After the Dashboard appears, please connect…
What makes The Parallel Protocol so great? The many use cases it has. For example, you can use your PAR tokens to add liquidity to a Balancer pool and obtain BPT. This BPT allows you to gain additional earnings and even mine Mimo tokens. In this tutorial, we will guide you through adding liquidity to the Balancer PAR/WETH 50–50 pool.
(DISCLAIMER: Adding liquidity to the Balancer pool may expose you to impermanent loss. If the market price of tokens changes significantly after you add liquidity, the proportion of tokens in the pool will also change because of arbitrage. If at…
Read this guide to learn how you can earn MIMO tokens.
The minting&liquidity mining program for earning MIMO token is live!
As of today (4/12/2021), about 34,9% (349M) of the total supply (1B) is left to be minted through liquidity and minting mining. The MIMO token will be distributed to PAR:WETH and PAR:USDC liquidity providers who stake their LP token — and minters when they change their base debt. The declining inflation is 5,5% every week. These tokens are not subject to any vesting period. The distribution of the MIMO token will be updated every day.
If you’re unfamiliar with…
If you held PAY or TENX tokens on your Ethereum wallet by a snapshot taken on the Ethereum blockchain on April 1st at 10 am SG time block 12150805, you are entitled to claim MIMO tokens.
The conditions are as follow:
For every address that was holding PAY on Apr 1, block 12150805: 0.24 MIMO for each PAY token that they were holding
For every address that was holding TENX on Apr 1, block 12150805: 0.37 TENX for each TENX that they were holding
For every address that was part of the Dec 2018 PAY snapshot but did not claim…
Important: We will NEVER ask for your private keys.
To interact with the Mimo web app, you need to connect it to your wallet.
So far, we support MetaMask and WalletConnect.
Step 1: Click on “Connect wallet” and select your preferred wallet. Your wallet should now ask you if you want to interact with our platform.
Step 2: Follow the steps until you are redirected to the “Wallet” page.
To borrow PAR token against your collateral, in the beginning only wETH, you have to open a Vault. A Vault is the core of the PAR protocol.
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