MiMo DeFi has recently refurbished its Wallet and Web App with a convenient and uncomplicated UI/UX and attached more cryptocurrencies. The added cryptocurrencies are ETH, WBTC, and USDC, for vault lockup to mint Euro Stablecoin PAR.
MiMo DeFi Protocol being the first Euro DeFi lending platform of the world facilitates the minting procedure of the algorithmically pegged token PAR to Euro. The digital assets of the users are locked up in a virtual vault as indemnity contrasting to spending them.
Executed on the chain, this clearly makes Euro Stablecoin PAR the very first completely decentralized token of its kind. With the presence of MiMo DeFi, the users are capable of retaining supreme control of their locked up digital assets for as long as the value of assets is enough.
Talking about the advantages that a user receives, appreciations in the market price of the assets is combined with the PAR tokens minting benefits. The minted tokens can also be utilized in the DeFi marketplace.
In addition to this, the users will also be getting high-yield returns after placing their PAR tokens in liquidity mining pools along with the 2% lending rate offered on the MiMo DeFi platform.
MiMo DeFi is backed by a team of experienced developers, who have earlier launched a wallet to be used in concurrence with a debit card associated with the Visa network, TenX. Utilized by many as a crypto payment solution in various countries globally, it was supported by a vision to assist cryptocurrency users.
The MiMo DeFi protocol is inspected by Quantstamp and its functioning is intended to keep the balance of users safe. In addition to this, its aim is to increase faith in the overall lucidity of the project.