Mimas Finance and Defiraverse
Dear Cosmonauts and future Defirians,
It’s no secret anymore, but we would like to officially announce that Defira is coming to Cronos! The Defiraverse is going to be the leading GameFi metaverse in the Cronos ecosystem, with its own unique set of NFT Heroes, innovative heronomics and tokenomics.
We’ve come a long way since we first launched Mimas Finance on Cronos, and our commitment to the Cronos community has never been stronger. During this time, we’ve strengthened our relationship with fellow Cronos projects and ecosystem leaders, especially Cronos Labs (Formerly known as Particle B) — we’re particularly (pun intended) excited to receive a grant to bring Defira to Cronos, as announced a couple weeks ago.
Defira will launch in Cronos with a completely new continent, Cronia, and its capital city, Mimasia. This new and exciting continent will have its own look and feel, host its own set of DeFi primitives (e.g. lending market and DEX), and a completely new set of NFT heroes will be born there (including Cronos unique races).
Mimas Finance will evolve into the new DeFi layer for Defira in Cronos. The MIMAS token, re-imaged as the Mimas Orb, will be the main DeFi token in Cronia, and will be used on all DeFi primitives. Defira will bring further use cases for MIMAS, along with new burning mechanisms.
FIRA will serve as the main GameFi and governance token for Defira on Cronos. It will be freshly minted on Cronos, but it will also be possible to bridge the token to and from Cronos.
In a couple weeks, we are going to start minting FIRA on Cronos and distributing FIRA rewards to our fellow MIMAS locked stakers. Initially, FIRA won’t have much liquidity on Cronos, similarly to what happened on Harmony, but MIMAS locked stakers will nonetheless have the opportunity to accumulate FIRA before the sale of Gen-0 Heroes on Cronos.
Then, shortly after (likely a timespan of weeks), we are going to:
- Launch the Cronia continent on Defira
- Launch the Skyport, a bridge for FIRA
- Cronos NFT Heroes Gen-0 sale
- Launch Heroes Rituals (Wishing, Ascension)
- Launch Hero Jobs
As part of our strategic shift to Defira, we decided not to build our own liquid staking solution on Cronos, and instead partner with Argo Finance. It was a tough decision, but one that we believe is ultimately correct.
We believe that bCRO, the CRO liquid staking solution built by Argo, is a powerful tool that will encourage capital inflows on the chain, benefiting the entire Cronos ecosystem as a result, Argo’s team is capable and has a clear and actionable vision for the project. We fully support them and are thrilled for this partnership!
By focusing all our resources on Defira, we will be able to deliver a truly unique product. We have the utmost confidence in the quality of the Argo Finance product, and are assured they will meet our (and the community) high expectations. In essence, our partnership consists of:
- Supporting a bCRO market on Mimas Finance
- Start distributing xARGO and bCRO rewards to MIMAS locked stakers
We would like to reassure you about the financial and motivational situation of the team behind the development of the Defiraverse.
This bear market, which came quietly and then abruptly escalated in May with the domino effect caused by LUNA’s collapse, and Harmony’s recent Horizon Bridge exploit are devastating news for us.
Not only because we feel bad for all the projects that are struggling because of this, but because so many people have lost their life savings — we believe that, however negative, these situations help this space learn from its mistakes, evolve, and become more aware of the risks involved in a the crypto industry.
We ourselves have learned a lot in recent months, and recent events can only lead us to give even greater weight to the community and its preferences through governance votes where deemed necessary.
Nevertheless, our team is stronger and more motivated than ever. We are determined to conquer the Cronos GameFi scenario and become the leading platform in the ecosystem. As we sharpen our focus on Cronos, we will gradually adjust the Mimas lending market emissions to ensure the long-term sustainability of the protocol in this bear market condition.
We have the resources to continue development without having to leave anything out. As much as during bear markets communities deflate and fear reigns supreme, we are aware that the market is made up of cyclical phases and we will make the most of this phase to BUIDL the Defiraverse we dream of and tell you about every day.
Per aspera ad astra, Defirians.
Finally, as both Mimas and Tranquil are taking part inside the Defira universe, we think it makes sense to further unify our Mimas and Tranquil communities. So, we are going to deprecate the existing Mimas Discord and Telegram groups, and move those discussions to the Defira discord and Telegram group.