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MIMAS Token

The MIMAS token is the protocol token of the Mimas Finance. Along with governance rights, we want to innovate with the utility of the token, based on the experience and learnings from similar protocols.
To incentivize long-term holders of the token, 75% of all protocol fees will be distributed in a 6-month locked staking MIMAS pool. This includes fees from both the lending and liquid staking protocols.
To reduce sell-pressure while also giving competitive rewards, emissions for the liquidity incentives of the lending market will be a combination of MIMAS and rMIMAS, a timelocked version of the MIMAS token redeemable in 6 months.

Token Info

Field
Value
Contract Address
0x10C9284E6094b71D3CE4E38B8bFfc668199da677
Name
Mimas Token
Symbol
MIMAS
Total Supply
1,000,000,000
Type
CRC20
Decimals
18
Block Explorer
Link

Token Distribution

There will be a hard cap of 1,000,000,000 MIMAS tokens with the following distribution:
Allocation
Description
Incentives
50% of the allocation is reserved for incentives, such as borrowing/lending, providing liquidity, and airdrops. Wallet: 0x07Ef76fB6692fA86e47EE7fEA71008e283d232Aa
Team
20% of the token supply will be allocated to the team with a 2 year vest linear vest starting from the public sale. Wallet (unvested): 0xf99e22bAd240a17c3c90F231F7199AD340A4464F
IDO and Airdrops
2% of the token supply will be offered during the initial IDO and airdrops. Wallet: 0x07Ef76fB6692fA86e47EE7fEA71008e283d232Aa
Treasury
28% of the supply is reserved for the treasury used for all other purposes, such as strategic partnerships and paying for staff and services. Wallet: 0x07Ef76fB6692fA86e47EE7fEA71008e283d232Aa

Locked Staking

To incentivize long-term holding, you can stake and lock MIMAS to receive protocol fees and MIMAS rewards.
Your MIMAS will be locked for 6 months. After the lockup period, rewards still accrue normally, and you may unstake without penalty at any time. You may also unstake your MIMAS early with a 50% penalty, which will be permanently burned.
A flexible MIMAS staking pool without a lockup is also available with lower MIMAS rewards, but it does not distribute protocol fees to the staker.

Emissions

We will not commit to a hard emission curve but instead our philosophy is to carefully balance the expansion of the token supply with the incentive rewards for attracting liquidity and users.
Based on the experiences of incentive programs from other protocols, rewards are often farmed and dumped by huge funds who often have no interest in the long term interest of the project itself.
We expect the allocation for incentive rewards to last at least 4 years.

Locked rMIMAS Rewards

Lending protocols are often a large target for mercenary farmers, as there is no cost to deposit and withdraw large amounts of assets to farm rewards.
To reduce sell-pressure while also giving competitive rewards, emissions for the liquidity incentives of the lending market will be a combination of MIMAS and rMIMAS, a timelocked version of the MIMAS token redeemable in 6 months.
Furthermore, instead of starting the redemption process, however, rMIMAS holders can choose to stake it instead and earn more rMIMAS rewards. This game theoretical dynamic encourages even longer unlock times and aligns holders with the long term success of the protocol.