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On Tuesday, August 10th, 2021, the crypto world experienced the greatest DeFi hack in history with $600m in assets siphoned from Poly Network by an attack on their cross-chain bridges.

Between this vulnerability and how it was handled throughout the myriad of parties involved, the case for decentralized stablecoins — like the stable tokens Mimo issues — became more obvious than ever.

What Happened

Although there are plenty of pieces out there with detailed, technical analysis of the Poly Network exploit, the quick overview is that particular methods in their smart contacts, Poly’s code forgot to prevent users from calling certain functions…


“All political systems need to mediate the relationship between private wealth and public power. Those that fail risk a dysfunctional government captured by wealthy interests. Corruption is one symptom of such failure with private willingness-to-pay trumping public goals.”

Susan Rose-Ackerman, Yale University.

UNESCO describes governance as “the culture and institutional environment in which citizens and stakeholders interact among themselves and participate in public affairs”. The UN, on the other hand, describes governance as “the exercise of authority or power to manage a country’s economic, political and administrative affairs.”

The UNESCO description of governance has accountability and resource allocation at…


With El Salvador officially considering Bitcoin legal tender September 7, 2021, we decided to take you on a deep dive into what this means and where we’re heading as a result.

There was a time when cash was king, but it is now a diminishing payment system in developed countries. For example, debit and credit card payments constitute 55% of all point of sale payments in the US. In the UK, 53% of payments are card-based.

The current move in these regions is contactless payments, where users only tap cards or pay via their mobile wallets. Here, people only choose…


$PAR on CoinGecko

Is An algorithmic stablecoin like PAR better than fiat pegged centralized stablecoins?

2020 was the year of stablecoins. At the beginning of the year, stablecoins had an outstanding supply of $5 billion. That figure had risen to $20 billion by October 2020. Stablecoin use has exploded right along with the growing DeFi market, as traders leverage the stablecoin’s faster arbitrage opportunities.

Stablecoins are a crucial blockchain innovation. They are key to the crypto mass adoption process, bringing in users to DeFi that would in the past not touch the volatility of cryptocurrencies with a long pole.

Mimo DeFi’s $PAR, for instance, is the only decentralized, algorithmically-pegged, Euro-backed stablecoin on the market. So…


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…


Mimo went over:

  • PAR and how we’re revolutionizing the euro
  • Mimo’s milestones
  • Thoughts on DeFi
  • Mimo’s business model

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.

Mimo & PAR

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…


Submit your Mimo Memes here »

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.

For a step-by-step walkthrough, watch the tutorial here »

Step 1: Open your browser and go to the following link: https://mimo.capital.

After the Dashboard appears, please connect…

mimo

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