Mimo

Mimo is composed of two main components—Parallel Protocol and KUMA Protocol—each addressing different needs within decentralized finance. Through the Parallel Protocol, users can mint stablecoins such as PAR (Euro-pegged) and paUSD (USD-pegged), both of which are over-collateralized and backed by user-deposited crypto. These tokens can be used across DeFi platforms while maintaining a price peg via carefully managed risk mechanisms. The Parallel Protocol is available on Ethereum, Polygon, and Fantom, expanding its usability across key ecosystems.

Complementing this is the KUMA Protocol, which introduces a new asset class to DeFi: tokenized interest-bearing debt. KUMA leverages NFTs that represent real-world bonds, like U.S. Treasury Bills, and converts them into ERC-20 tokens called KIBT (KUMA Interest-Bearing Tokens). These behave like stablecoins whose balances grow over time, offering yield with minimal user involvement. The USK token is one such asset, backed by 1-year U.S. Treasuries, allowing users to hold a USD-like stablecoin that accrues value.

All changes to both protocols are governed via the MIMO token. Governance occurs through vMIMO, a locked version of the token used to vote on protocol upgrades, new asset integrations, and economic adjustments. The project’s open-source nature ensures full transparency, and multiple audit reports confirm its commitment to security and best practices. With these capabilities, Mimo is pioneering a dual-pronged approach to digital finance: one that bridges the gap between fiat-like stability and regulated on-chain yield.

Mimo delivers a rich set of features and benefits through its Parallel and KUMA protocols:

• Dual Stablecoin System: Access Euro-pegged PAR and USD-pegged paUSD, which are over-collateralized and deployable across Ethereum, Polygon, and Fantom.
• Real-World Yield: Earn passive income via KUMA Interest-Bearing Tokens (KIBT) like USK, backed by U.S. Treasury NFTs.
• Regulated Bond Access: KUMA NFTs represent tokenized government bonds, enabling exposure to traditional financial instruments in a decentralized way.
• DAO Governance: Both protocols are governed through the MIMO token, giving the community full control via voting mechanisms.
• Composability: All tokens issued are ERC-20, making them compatible with wallets, DEXs, lending markets, and more.
• Open Source & Audited: Fully transparent smart contracts with several independent audits ensure long-term protocol safety and accessibility.

Mimo is easy to start using whether you're interacting with Parallel or KUMA:

• Set Up a Wallet: Download a compatible wallet like MetaMask or Rabby. Make sure to securely back up your recovery phrase.
• Select Your Network: Mimo operates on Ethereum, Polygon, and Fantom. Choose the appropriate chain for the stablecoin you wish to mint or use.
• Connect Wallet: Visit the official site and click “Connect Wallet” to begin.
• Mint Stablecoins: Deposit accepted crypto collateral and mint PAR or paUSD. For KUMA, acquire KUMA NFTs or USK through supported marketplaces.
• Track Performance: USK accrues value automatically based on interest rates of U.S. Treasuries, while your stablecoins can be used in DeFi protocols.
• Participate in Governance: Lock your MIMO tokens to gain voting power (vMIMO) and take part in the platform’s evolution.