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Mimo protocol is a decentralized system for issuing a price-stable token built on the Ethereum blockchain. Mimo is a collection of applications designed to remove the need for trusted middlemen, including the PAR token, which is the world’s first Euro-pegged stablecoin.
Mimo lets you use vaults to deposit your assets. Each vault is distinct and protected, and your assets are never lent out. You can deposit and withdraw as much as you want, and all vaults within the protocol are backed by the Safety Reserve.
MIMO governance tokens are allocated to participants in the protocol-both to enable the creation of PAR via borrowing and to reward liquidity provision in AMM pools. This distribution structure keeps protocol oversight in the hands of users and the community of the Parallel Protocol.
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