MIMO Minting & Liquidity Mining is Live
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.
To help you get started, we’ve put together this handy guide.
MIMO mining through minting
The easiest way to mine MIMO token is by mint PAR against your crypto assets. To do this, go to the Mimo website and click “Mint PAR”. Now, you first have to create a vault with the asset you want to mint against.
Note the varying share distributions depending on which asset you mint against; the percentage distribution can be found on the Mimo website under the mining tab. The current share distribution for minting is:
Signing the wallet interaction & creating a vault requires gas and network confirmations. Gas fees will vary depending on the network traffic, and it will always require some time until the vault is officially created. Ensure you’re waiting for each step to complete and confirm before moving onto the next step.
MIMO mining through adding liquidity
Adding Liquidity to Balancer pools
The liquidity pools to farm MIMO tokens are on Balancer. Choose the PAR:WETH or PAR:USDC pool. The current share distribution for minting is:
Once you have selected the pool, click on “Add Liquidity”. Here, you can either provide liquidity by investing PAR and the respective assets to pair under “Multi asset”. Alternatively, you can use “Single asset” to invest only PAR or only the respective asset.
The result remains the same — you get the Liquidity Pool token (BPT). For a detailed explanation of how to add liquidity to Balancer please visit our guide.
Stake the Liquidity pool token to mine MIMO token
In order to mine the MIMO token by adding liquidity, the liquidity pool token must be staked. To do this, go to our website under the Mining tab. Further down, you will find the option to stake your LP token.
Simply ensure your wallet is connected, stake your BPT, and enjoy your MIMO distribution as part of the liquidity pool.
Claiming Your MIMO Token
Claiming your newly mined MIMO tokens is very easy. Please follow these steps to claim your tokens:
Step 1: Click the widget with the Mimo logo located at the top right corner.
Step 2: The widget will show you the amount of MIMO tokens you have available to claim. For this example, this wallet has a total of 8,840.58 newly minted MIMO tokens available to claim. Please click the “Claim” button to claim your MIMO tokens. Remember you need to pay gas fees for the transaction.
If you would like an updated version of the amount of MIMO tokens you have available to claim, please click the “Click to refresh” hyperlink. Please consider this will incur gas fees for the transaction to initiate the process. If you would prefer not to pay these gas fees, please come back later to check if your MIMO claimable balance has been updated. The MIMO claimable balance will be automatically updated randomly once a day by the team.
NOTE: You will automatically receive your MIMO claimable balance when you return or mint PAR tokens in case you minted against one of your assets in your Vault. In case you staked the LP token, you will also receive your MIMO claimable balance when you unstake it.
Smart contracts and other links:
PAR contract address: 0x68037790A0229e9Ce6EaA8A99ea92964106C4703
MIMO contract address:
Minting and staking contracts:
Minting against wETH: 0x7DCCB36Ba7177154F364Dab07cb57250AbA50b3e
Minting against wBTC:
Minting against USDC:
PAR-WETH AMM Liquidity Providing:
PAR-USDC AMM Liquidity Providing: