Mimas Finance — Today and Tomorrow
Dear Cosmonauts, first of all, thanks for all the support you’ve given us so far! We are building a strong community on Cronos, and we’re very proud of that.
We’re aware of the concerns with the MIMAS price, but rest assured, we will get through it together. Our team is deeply invested on our product and we believe in the growth potential of the Cronos ecosystem. We are very confident the price will recover, and because of that the core team will not sell any vested MIMAS until it reaches a fair price.
It’s been a bit over 24h since our IDO and the full launch of Mimas Finance on the Cronos Chain. Our team has been working non-stop to polish the product and deliver the new features on our roadmap. But we think now is good time to take at look at where we are, and more importantly where we are going next.
Where we are now?
In less than 24h since our launch, we are already one of the top 10 DeFi projects on the Cronos Chain.
There are over 10.000.000 USD being supplied, and more than 4.000.000 USD being borrowed on the platform.
I’m personally very proud of these achievements, and we believe this is a very strong statement of support from our Cronos community!
Moreover, we believe the only sustainable ways to increase the MIMAS price are: increasing the protocol usage, and increasing the utility of the MIMAS token. Because of that the team has been working non-stop to release the following features:
- rMIMAS rewards: Supply and borrow incentives will be given rMIMAS, a timelocked version of MIMAS. This will for sure attract more users to our platform, but at the same not create more sell pressure for the MIMAS token.
- MIMAS locked staking: Users will be able to lock their MIMAS for 6 months, while receiving more MIMAS, rMIMAS, and protocol fees (in the native tokens) as rewards.
We have even more ambitious plans to increase the MIMAS token utility. Please read on for more details, and prepare to get excited!
Our Future — Defira: A cross-chain DeFi metaverse game world
Defira is our vision for a game world that will not only host Mimas Finance as an in-game lending protocol, but also a full suite of all major DeFi primitives, such as a DEX and a cross-chain bridge. We will start on Harmony, but very soon after that we will bring Defira cross-chain to Cronos, building it on top of Mimas Finance.
Moreover, we are building engaging gameplay with collectable and breedable NFT heroes. As avid gamers and game developers, we plan on exploring innovative gameplay mechanics that we think truly take advantage of the strengths of blockchain-based games.
You can read more about Defira in this article.
Tokeonomics — MIMAS and Defira
As we already hinted on our @mimas_fi Twitter account, the MIMAS token will play a similar role as the TRANQ token in Defira. Mimas Finance will be integrated in to the game, and the MIMAS token will be re-imagined as the Mimas Orb, a mystical gem of great magical power.
In addition to its current utility, the MIMAS token will be required as the cost for critical in-game features, such as summoning new heroes or purchasing land deeds. MIMAS spent this way will be permanently burned. Additionally, locked MIMAS stakers will be eligible for lotteries, including for a portion of Defira’s initial Gen-0 heroes.
This is only a a glimpse of our plans for Defira and Mimas Finance. We have been working on this project in stealth and will share more details and in-depth documentation in the coming weeks as we approach our official announcement and launch.