Mimas Finance
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Vision and Roadmap
Vision
Our vision for Mimas Finance is to be the premier platform on Cronos for lending and borrowing. In addition to the standard safe assets like BTC or USDT, we will work with the community to list long-tail tokens that are unique to Cronos, increasing the utility and value of all tokens in the ecosystem.
Shortly after the initial launch, we will build a staking derivative token (stCRO). It would allow stakers to receive CRO staking rewards while also using it as collateral on Mimas, unlocking tremendous untapped value for the entire ecosystem. Holders of stCRO can use it in other DeFi protocols or exchange it back to CRO without the lengthy undelegation time.
We believe staking derivatives or liquid staking is an under-explored area in DeFi. In the medium term, after launching the staking derivative token, we will work on projects to give more utility to stCRO including DEX pairs using stCRO to replace CRO.
Roadmap
We have a very aggressive roadmap for the first few months, but with our previous Tranquil experience are confident we can deliver on it. Our Tranquil Finance track record speaks for itself. We built a Compound-based algorithm money market with a robust oracle stack and a completely new liquid staking protocol (stONE) in less than 2 months.
We outline our specific near term goals as well as more broad medium and longer term ones, knowing that priorities inevitably change with such an earlier project, especially in a space as fast moving as DeFi.
Near Term (Dec 2021 - Jan 2022)
- 📣 Announce Project ✅
- Officially announce the project
- Build community of early Mimers
- Finalize and publish tokenomics
- 🚀 Mainnet Launch and IDO ✅
- Launch the app on the Cronos mainnet (without rewards)
- Initial DEX offering
- MIMAS Staking and Rewards ✅💰
- Launch locked MIMAS staking pool to distribute fees
- Enable MIMAS rewards for supported markets
- Enable rMIMAS rewards for the supported markets
- Launch MMF liquidity pool staking to incentivize MIMAS liquidity
- Support Crypto.com DeFi Wallet
- 🧑💼 Build Our Team on Cronos ✅
- Hire and onboard additional support staff (community managers and moderators)
Medium Term (Q1 - Q2 2022)
- Complete at least one security audit with reputable auditors
- ✨ Find Product Market Fit
- Establish good traction and growth of users and TVL
- 💸 Launch Liquid Staking Token (stCRO)
- Set up operations to run validator nodes
- Create app to stake CRO to stCRO
- Allow users to unstake stCRO back to CRO with profits
- Allow lending and borrowing stCRO on Mimas
- Grow stCRO adoption in the entire DeFi ecosystem
- 🌐 Decentralized Governance
- Design governance model for making effective decisions
- Establish incentives for decentralized operations
- 🌱 Grow the Ecosystem
- Establish more and deeper partnerships
- As a more mature player, help develop smaller projects
Long Term (Q3 2022+)
- 📈 CEX Listings
- Evaluate readiness of exchanges to list Cronos tokens
- Close deals for listing on at least one major exchange
- 💸 Undercollateralized Use Cases
- Options, futures and perpetual swaps using deposits as collaterals
- Leveraged trading borrowing from Mimas markets
- Develop combined collateral model for all use cases on the platform
- 🌐 Progressive Decentralization
- Make Mimas thrive and grow with decentralized yet robust governance
- Remove ownership of smart contracts wherever feasible
Last modified 4mo ago