In addition to the decentralized liquidity pools and token swaps you are familiar with from mimo v1, mimo v2 will serve as the foundation for advanced features that will greatly expand DeFi on IoTeX. These features, which are summarized below, will be released incrementally and progress from Alpha → Beta → Production.
- Direct token-to-token swaps: in mimo v1, users could swap any XRC20 asset for any other XRC20 by routing through IOTX (e.g., swapping VITA-to-BUSD involved VITA-to-IOTX & IOTX-to-BUSD transactions). In mimo v2, any XRC20 asset can be pooled/swapped directly with any other XRC20 asset, including stablecoins. Now available for testing as part of our mimo v2 Alpha release!
- Cross-chain swaps (via ioTube integration): mimo v2 will be integrated with ioTube to support cross-chain, wallet-to-wallet swaps between IoTeX and Ethereum, BSC, Polygon. This means you can swap IoTeX tokens for Ethereum/BSC/Polygon tokens, and the swapped tokens will show up directly in your Ethereum/BSC/Polygon wallet!
- Yield Farms v1: as new XRC20 tokens are onboarded to IoTeX, our Yield Farms v1 will enable liquidity providers to stake (deposit) their LP tokens and earn additional yield
- $MIMO governance token: the highly anticipated $MIMO token will launch in 2021 with airdrops distributed to early mimo adopters; $MIMO will also be mine-able in our yield farms
- Governance DAO: holders of $MIMO token will be able to make proposals and join network-wide votes facilitated by a transparent DAO
We are launching mimo v2 in Alpha to gather feedback and bring you, the community, along with us on our journey. If you want to help test mimo v2, it’s simple!
- Install MetaMask and connect IoTeX as a custom RPC/Network using these instructions. Note: mimo v2 is only compatible with Web3 tools like MetaMask.
- Visit the mimo v2 website/app -- if you are a first time user, you will be prompted to authorize IoTeX on MetaMask
- Add liquidity to any existing pool (or create your own pool) and swap between any XRC20 tokens.