SINGAPORE, Feb. 04, 2021 (GLOBE NEWSWIRE) — Launching its model new platform, MiMo provides a bridge between DeFi (decentralized finance) and the trusted EURO fiat world. Conservative and risk-averse monetary providers customers who’re searching for greater returns than these at present provided by conventional banking establishments can now entry a EURO DeFi platform that yields spectacular returns with out publicity to excessive volatility as is the case with many different cryptocurrencies. In a nutshell, the MiMo steady token PAR now provides up the primary EURO various to USD pegged stablecoins.
“With PAR, we’re creating a substitute for USD pegged stablecoins corresponding to USDT, USDC or PAX. With a token algorithmically pegged to the EURO, there’s a stronger legal responsibility as a result of inherent macroeconomic politics of the European Union, which make it an ideal hedge in opposition to quantitative easing, inflation and lack of buying energy which will occur to USD pegged tokens.” – Nick Calabro, Progress Supervisor at MiMo.
Most secure, Quickest Decentralized Method to Managing Your EURO
With Mimo, conventional banks is perhaps a factor of the previous. MiMo provides the most secure and quickest technique to entry and handle your EURO funds with out monetary intermediaries. MiMo’s protocol provides PAR, the primary price-stable token algorithmically pegged to the EURO. With Mimo, monetary providers customers can borrow and stake PAR as a EURO pegged token whereas incomes price yields with decrease dangers.
Customers can deposit Bitcoin or Ethereum as collateral to their MiMo vaults to obtain PAR tokens as a mortgage. As soon as this mortgage is paid again, it generates charges. The charges generated enter a Wholesome Charge Distribution Ecosystem – 10% of the collected charges are used as insurance coverage for securing vaults in opposition to liquidation within the occasion of decreasing collateral inside the vaults. 90% of the charges are used for rising liquidity in PAR’s AMM swimming pools. This lowers slippage in trades between PAR tokens and different crypto property. Additionally, customers who present liquidity to PAR Swimming pools earn engaging buying and selling charges from the pool.
Safety Audited by Quantstamp
MiMo’s code has been audited by Quantstamp, a frontrunner in blockchain safety that verifies that the system works as supposed. Evaluating the repository for security-related points, code high quality, and adherence to specification and finest practices, MiMo’s Quantstamp security assessment certificate states that “total, the code is well-written, well-documented, and well-tested.”
Cecilia Wong, yourPRstrategist.com