Mimo’s governance forum and Snapshot has been bustling with new proposals. After changing up the Governance Framework and rebuilding some of the core infrastructure with how our government operates, we have many additions that are worth taking a closer look at.

DAO Multisig Election - Passed

First, we had the DAO Multisig Election. The purpose of this addition is to promote a more decentralized execution process. Now, the community is directly involved and in control of several functions of the protocol including the treasury, protocol parameters, and the blog — now, no single actor can take control of the protocol.

View the snapshot and the results here »

Minimum Collateral Ratio Adjustments - Passed

Mimo has been relatively conservative when it comes to our collateral types and their respective MCRs. The majority of the protocol runs with a Minimum Collateral Ratio of 130%. This means any $PAR issued by the protocol must be backed up 130%.

While the initial decision was extremely safe, it is restrictive to users who can manage a few more points without much added risk.

As a result of this and various risk assessments performed, ETH & BTC vaults now require MCRs of 125% with USDC as low as 104%.

View the passed Mimo Improvement Protocol votes on Snapshot here:

• MIP-2┃Adjust WETH Minimum Collateral Ratio
• MIP-3┃Adjust WBTC Minimum Collateral Ratio
• MIP-4┃Adjust USDC Minimum Collateral Ratio

New Mimo Pools On All Chains - Passed

Rari & Market.xyz allow to borrow against $MIMO, $PAR, and their LPs. This is an advanced addition to the Mimo ecosystem that adds a few very interesting possibilities.

A more detailed guide will be released shortly outlining the benefits and how-to’s regarding this integration, but until then, know that these tools expand the usage of possible pools—and, in an isolated fashion. This means no integrity is diminished and any risk is entirely isolated.

Since the proposals passed, the integration is on its way to be live and we’ll be posting updates on Twitter first.

Quorum Update - Active

The latest active proposal is an adjustment to the quorum requirements associated with all proposal votes. We believe in fair, decentralized, governance and we believe the contents of this proposal is going to greatly assist in this mission.

For a greater understanding of the context and what the quorum change means & to case your vote before it ends on June 23, 2022, head over to the Snapshot proposal here »

That’s about it for today! Be sure to visit our Snapshot profile so you can see all the proposals as they publish and get voted on—to join the discussion even closer, join us on Discord & follow on here on Twitter.