TVL > 100K
What is Mimas Finance (MIMAS)?
Running on the Cronos blockchain, Mimas Finance is a DeFi protocol for lending, borrowing, and also staking various tokens. This project brings together liquid staking protocol and algorithmic money market. The Mimas Finance project, a fork of Tranquil Finance, is a fully decentralized space for supplying and borrowing assets. Here, all loans are over-collateralized to support the functioning in case of unfavorable market moves. Interest rates depend on market demand.
Who are the founders of Mimas Finance (MIMAS)?
Before launching this project, an anonymous team from Mimas Finance developed another project called Tranquil, based on the Harmony blockchain. This is also a fork, which emerged from Compound. So, Mimas Finance is not the first project of the team. The development department includes the following persons: 1. leader and the head of department AKA @0xGoten. He is a former technical specialist at FAAMG Software with deep knowledge in the field of cryptography. 2. smart contract developer AKA @0xYamcha. He has many years of experience in security and authentication technology. 3. backend developer AKA @0xKRILLin with skills in ML and cloud systems.
What makes Mimas Finance (MIMAS) unique?
The Mimas Finance protocol benefits the Cronos ecosystem. Why the Cronos chain? It is all about low fees for transactions and an extensive user base of Cronos. Users get the advantages of using this lending marketplace with a liquid staking protocol. Platform users can lend various digital assets, i.e. CRO, WBTC, ETH, USDC, MMF, USDT, SVN, and bCRO, and receive interest. Mimas Finance also offers to become a holder of the MIMAS tokens. These are the platform tokens. There are two types of MIMAS staking: standard (with a 6-month lockout period) and flexible (without lockout). Moreover, the project signed a cooperation agreement, under which liquidity providers of the pool with the MIMAS/CRO token pair may earn rewards in the form of rMIMAS tokens and then stake them.
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